Tips and Traps

Optimizing Planning and Minimizing Problems

by Layne T. Rushforth

Practical Advice for Estate Planning These memos cover a number of topics with helpful ideas and suggestions that can be useful in making a complete and truly personal estate plan.
Short Title	Description
Property Agreements for Couples	Benefits of having a marital property agreement.
Nevada Declaration of Domicile	Memo outlining the steps to take to establish legal residency in Nevada.
Stealth Wealth - Hiding Assets from the Public	Pros and Cons of trying to hide asset ownership from public records.
Asset Ownership	Effects of various forms of asset ownership.
Asset Protection Trusts and Public Records	Choosing between privacy and protection when owning assets under a Nevada asset-protection trust (a.k.a., Nevada self-settled spendthrift trust).
Beneficiaries of IRAs or Retirement Plans	Who should be the beneficiaries of your IRA or retirement plan?
Tax Identification Numbers	What tax identification number – social security number or employer identification number – is needed by financial institutions holding funds owned by individuals, trusts, and business entities?

Disclaimer. You must not rely on the information provided on our web sites in making your own planning decisions.

None of our web sites provides legal advice. The information presented at this site and rushforthfirm.com is general information only should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.
All articles written for the general public (including those at this site, on other web sites, in books, or in other print media) are necessarily oversimplified and may not be appropriate for any particular person's situation.
Information contained in these pages is NOT an acceptable substitute for personal legal advice from an attorney who is:
- licensed in the state where you live;
- experienced in the appropriate area of law; and
- familiar with the details of your situation.
Because this site is general and cannot address all excepts and unique situation and because some of the information may not be complete or up-to-date, you cannot rely on the information on this site in making estate- or tax-planning decisions. More to the point, you should never rely on general estate planning information. The problems with a poorly designed estate plan--which may include a will or trust that is legal but inadequate--will not usually surface until it is too late to correct. Acting on general information can be penny wise and pound foolish.
Although this web site includes pages that discuss tax issues, nothing on this site contains legal or tax advice that can be relied on or otherwise used by a taxpayer for the purpose of either
- (1) avoiding tax penalties that may be imposed on the taxpayer by the Internal Revenue Service or by a court or
- (2) promoting, marketing, or recommending any tax-planning strategy to another person.
You cannot obtain from any web site or book a "covered opinion" that is compliant with Circular 230 issued by the U. S. Treasury Department. If you desire a "covered opinion", you will need to engage an accountant or an attorney to discuss the scope and purpose of the opinion you want, as well as the time and expense that it will take to provide you with such an opinion. Because of the uncertainly of some tax issues, it is possible that you will not find anyone willing to give a covered opinion on specific tax-saving strategies or for particular situations.
No attorney employed by The Rushforth Firm, Ltd. has been certified as a specialist.