The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Need tax consequences advice please||Date: 1/29/2013 11:18 AM|
|Author: vkg||Number: 117579 of 120446|
In my salad days it would have taken me less than 5 minutes to pop this one under alter ego theory to collect a tax liability. I would hope that less powerful creditors would also be able to reach the assets.
I believe, you could.
The claim and reality may not be the same.
Unfortunately, by “owning” their inheritance, your beneficiaries are then needlessly exposed to the claims of spouses in divorce, creditors, lawsuits, the loss of government needs-based benefits and potential estate taxes when their inheritance is handed down to the next generation of beneficiaries.
I have no idea if a PAT is good or bad, but I liked the title to one link:
"My Son In Law is a Big Fat Dummy." Remedy: The Personal Asset Trust
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