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South Dakota – Making Lemonade out of a Lemon

I wrote of the economic decline of the US, from the world’s 3rd to the 18th most free economy in 10 years,  in last week’s column. I ended the column wondering if the US would reverse its slide to economic mediocrity. The 2012 election makes it very clear...

Finding a Trustworthy Trustee

Watch this video on YouTube Trusts are effective financial planning tools based on a structure that is simpler than it may seem. The creator of the trust contributes something of value into the trust and creates instructions as to how it will be managed and eventually...

Negotiating an End To the “Prenup War”

Watching a bride and groom walk down the aisle at the end of their wedding ceremony is a joyful moment. As a wedding guest, you can’t help but smile and wish the new couple a long and happy life together. Of course, if you happen to be a financial planner, you...

IRAs May Not Offer Asset Protection

Watch this video on YouTube Protecting what you have against frivolous lawsuits, unjust judgments, and unlawful seizure would seem to be important. Yet most Americans aren’t interested in asset protection. Why not? Maybe because over 70% of Americans have no...

Asset Protection and Medicaid

We’re pleased to feature a guest post from Tom Simmons, a partner with the Rapid City law firm of Gunderson, Palmer, Nelson & Ashmore, LLP. A Medicaid Irrevocable Income Only Trust (MIIOT; pronounced “my-ott”) is an irrevocable trust with both advantages for long...

Protecting Your Assets From Your Own Money Scripts

Watch this video on YouTube Asset protection is about protecting what you own against someone else taking it. The most common ways to lose assets are divorce, bankruptcy, and judgments filed against property as the result of a lawsuit. Putting your assets beyond reach...