Articles Posted in Asset Protection

The legal art of protecting assets from threats such as lawsuits, creditors, and divorce.

Robin Williams was THE comedian if you are a Gen-Xer like me. We grew up watching Mork & Mindy. And those of us who live in Boulder have, since his death, gone by the Mork & Mindy house and said our farewells there. What do we have to criticize about Robin Williams’ Estate? First, let me make my motives clear.

They say that in the past Robin Williams had battled depression and substance abuse and that he had recently received a diagnosis of Parkinson’s, which often brings treatment-resistant depression with it. As someone with bipolar disorder who has experienced serious and treatment-resistant depression, I can relate. When the doctors can’t help and everything hurts, a person reaches a point where it’s hard to believe that this horrible painful state can ever improve.

It’s hard, as someone who wasn’t in Mr. Williams’ inner circle, to imagine him depressed. As a fan, I always saw him the way his director wanted his character portrayed or, when he was doing stand-up, as his “on” self. But I also saw the kindness of spirit his actions evidenced.

The Wall Street Journal’s Kelly Greene covered a Congressional proposal to end this attractive opportunity earlier this year.

Right now, if you inherit an IRA or other tax-advantaged retirement account, you are allowed to stretch out the withdrawals, and therefore the income tax, over the course of your own life expectancy.

Estate planning attorneys have found a way to wrap asset protection around that inherited IRA by putting it into a special tax-advantaged trust.

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