Insight

Preserve wealth for yourself and your heirs using asset protection strategies

If you wish to protect your assets while retaining some control over them, consider an irrevocable trust. Transferring assets to such a trust generally places them beyond your creditors’ reach. And by including a “spendthrift” provision, you can also protect the assets against claims by your beneficiaries’ creditors. A spendthrift provision prohibits your beneficiaries from selling or assigning their interests in the trust, either voluntarily or involuntarily. Contact us to learn about other asset protection techniques.

Related Insights

No tax on car loan interest under the new law? Not exactly | tax accountant in elkton md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

No tax on car loan interest under the new law? Not exactly

Under current federal income tax rules, so-called personal interest expense generally can’t be deducted. One big exception is qualified residence…
The QBI deduction and what’s new in the One, Big, Beautiful Bill Act | cpa in baltimore city | Weyrich, Cronin & Sorra

Management Advisory Services & Business Consulting

The QBI deduction and what’s new in the One, Big, Beautiful Bill Act

The qualified business income (QBI) deduction, which became effective in 2018, is a significant tax benefit for many business owners. It allows…
How will the changes to the SALT deduction affect your tax planning? | tax preparation bel air | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

How will the changes to the SALT deduction affect your tax planning?

The One Big Beautiful Bill Act (OBBBA) shifts the landscape for federal income tax deductions for state and local taxes (SALT), albeit temporarily.…

Connect with us

Use the form below to send us an email. WCS responds directly to all inquiries and general questions within 24 hours of posting.

This contact form is deactivated because you refused to accept Google reCaptcha service which is necessary to validate any messages sent by the form.