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Trusts

Irrevocable Trusts and Taxes: An Overview

Irrevocable Trusts and Taxes: An Overview

Before you set up a new irrevocable trust, you need to understand what taxes you and any future beneficiaries may need to pay. When it comes to taxes, irrevocable trusts have different rules and limitations compared to revocable trusts. Fortunately, you can often use irrevocable trusts – especially when set up by specialists like Dominion – to minimize or avoid certain types of taxes entirely. Let’s dive deeper.

Dominion

Dominion

Oct 6, 2023

Legal

Offshore

Offshore Asset Protection Trusts: A Complete Guide (2023)

You work hard for your money. At Dominion, we believe you should be able to keep it. Unfortunately, the larger your wealth grows, the more it becomes a target for aggressive creditors, litigators, and other attacking parties. But you can keep your wealth safe in perpetuity with the right offshore asset protection trust (APT). In fact, the legal and financial experts at Dominion specialize in setting up ironclad, practically bulletproof offshore asset protection trusts for high-net-worth individuals just like you.Not sure what these are or how these instruments can really keep your wealth safe? Let us explain.

Dominion

July 9, 2024

Asset Protection

What Personal Property Can Be Seized in a Judgement?

In the event of an unfortunate lawsuit outcome, you might have to listen to a judgment from the court. If the case overall doesn’t go as you expect, a court might make a decision against you, saying that a creditor or lawsuit plaintiff is correct and requiring you to pay damages or other legal fees. If you’re a high net worth individual like a business owner or other entrepreneur, you might wonder just what property or assets might be at risk from a court judgment.

Dominion

October 8, 2023

Wealth Planning

Family Wealth Planning: A Guide to Preserving Your Legacy

For most high-net-worth individuals with millions of dollars earned and saved over the years, it's not enough to just secure wealth for yourself. The overall goal of making that much money is to build and preserve a legacy for you and your family in the decades to come. That's why family wealth planning matters so much more when you have a lot of money to protect and account for. If you don't plan ahead of time, your wealth and estate could be vulnerable to creditors, lawsuits, and even inappropriate spending by her own family members. Let's take a closer look at some things to consider when it comes to family wealth planning as a high-net-worth individual like a business owner.

Dominion

July 8, 2024

Taxes

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