Basic Estate Planning

Basic Estate Planning

What is estate planning?

What is estate planning?

What happens if I fail to plan?

What happens if I fail to plan?

What might happen if I am incapicitated and fail to plan?

What might happen if I am incapicitated and fail to plan?

What is the problem with guardianship, or conservativeship?

What is the problem with guardianship, or conservativeship?

What happens in the circumstance that I fail to plan for my death?

What happens in the circumstance that I fail to plan for my death?

What are the three Gremlins of estate planning?

What are the three Gremlins of estate planning?

What are some ways to plan?

What are some ways to plan?

Are there any other ways to plan?

Are there any other ways to plan?

What is the problem with planning based on using a will?

What is the problem with planning based on using a will?

What is the problem with probate?

What is the problem with probate?

Why isn't joint ownership the best way to plan?

Why isn't joint ownership the best way to plan?

What should be my greatest concerns when planning?

What should be my greatest concerns when planning?

Why am I out of control in the terms of an incapacity?

Why am I out of control in the terms of an incapacity?

What are some ways to gain control?

What are some ways to gain control?

What is a revocable trust?

What is a revocable trust?

What is the relationship between the beneficiaries and the trustees?

What is the relationship between the beneficiaries and the trustees?

How do trustees take over?

How do trustees take over?

What are the problems with relying on beneficiary designations?

What are the problems with relying on beneficiary designations?

What are some pitfalls in planning?

What are some pitfalls in planning?

What are some mistakes made with minor planning?

What are some mistakes made with minor planning?

What are some concerns for children over 18?

What are some concerns for children over 18?

Can you summerize the value of using a trust in the circumstances described?

Can you summerize the value of using a trust in the circumstances described?

How do estate taxes work?

How do estate taxes work?

Can a married couple avoid the taxes of four million dollars?

Can a married couple avoid the taxes of four million dollars?

If I am worth less than two million dollars is there any need to do tax planning?

If I am worth less than two million dollars is there any need to do tax planning?

What age should I start planning?

What age should I start planning?

What other protections does a trust give?

What other protections does a trust give?

Basic Estate Planning

Basic Estate Planning

Introduction to Homeowners Insurance

Introduction to Homeowners Insurance

Buying A First Home

Buying A First Home

Investment For Beginners

Investment For Beginners

Investment Planning

Investment Planning

Best Investment Options

Best Investment Options

Investment Strategies

Investment Strategies

Investment Management

Investment Management

Business Planning

Business Planning

Business Planning - What is the best entity to use when starting a business?

Business Planning - What is the best entity to use when starting a business?

Business Planning – Advantages and disadvantages of LLC’s and S corps

Business Planning – Advantages and disadvantages of LLC’s and S corps

Business Planning – Non-Compete agreements

Business Planning – Non-Compete agreements

Business Planning – Top negotiating techniques for lease agreements

Business Planning – Top negotiating techniques for lease agreements

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William Conway

Law Offices of William Conway

www.conway-law.com  

703-448-7575

William A. Conway, J.D., in a professional career as a tax attorney, investment banker, and legal educator, serves his clients with both financial and legal counsel. A graduate of Georgetown University Law Center, he is a registered investment advisor and tax attorney included in both Who's Who in Finance and Industry and Who's Who in American Law. Mr. Conway is also a member of the bars of the Commonwealth of Virginia, District of Columbia, and the State of Maryland.

His practice is dedicated to building wealth enhancement strategies for his client families' estates and businesses, using far-reaching, advanced planning to achieve preserved wealth for generations. The firm's priority is our relationship with our client families and their personal, professional and estate goals.

Mr. Conway was an Adjunct Professor of tax law at George Mason University School of Law, where he taught law for five years and has lectured at Georgetown University Law Center. He annually teaches continuing education courses on estate planning and wealth preservation for attorneys, financial planners, and accountants.

A founding member of WealthCounsel, LLC , he serves as chairman of the Legacy Consulting Group and is a member of the National Academy of Elder Care Law Attorneys. In addition, Mr. Conway serves on the Greater McLean Chamber of Commerce and is President of the McLean Symphony, McLean, Virginia.

Invited for guest appearances on television programs such as "The Money Makers" on PBS, Mr. Conway also created and hosted the radio series, "Legacy," for many years on Washington Business Radio. You may now hear him on his new show, "Family Fortunes" on WTNT 570 AM Radio in the Washington Metro area each Saturday morning.

Generations, an updated companion book to the original "Legacy" radio show, is a 500+ page, hard-backed book, indexed by subject, and includes every aspect of estate planning.

What other protections does a trust give?

Host: What other protections does a trust give?

William Conway: Well, beyond the protection of the assets for the surviving spouse in the circumstance surviving spouse remarries and if that remarriage is unsuccessful, so there is protection against that spouse s subsequent divorce. There's also protection of course, as we mention against asset of disinheritance of the children, but beyond that there are some protections that only trust give or afford and that is asset protection.

Sometimes, as people are engaged in certain activities, perhaps, someone is a physician or perhaps someone is in some other profession that might cause them to be sued.

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Transcripts

Host: What other protections does a trust give?

William Conway: Well, beyond the protection of the assets for the surviving spouse in the circumstance surviving spouse remarries and if that remarriage is unsuccessful, so there is protection against that spouse s subsequent divorce. There's also protection of course, as we mention against asset of disinheritance of the children, but beyond that there are some protections that only trust give or afford and that is asset protection.

Sometimes, as people are engaged in certain activities, perhaps, someone is a physician or perhaps someone is in some other profession that might cause them to be sued. The assets that would be left by one spouse to another and subsequently, when those assets are left to the children, can be asset protected from the ravages of law suit and the reason that is the case is because a trust or the assets of the trust don t actually belong to the beneficiary in that case of surviving spouse. Since, they actually don t belong to the beneficiary and because there are subsequent beneficiaries of the trust meaning usually, the children of the marriage, the effect of that would be that a litigant who might be trying to pursue a law suit against the surviving spouse will even if successful, not be able to reach the assets in the trust. So, it provides a substantial and beneficial amount of asset protection for the surviving spouse. In addition, as I mentioned, that protection can be moved on a generation. So, if there is an obstetrician who is one of the children or if there is a real estate developer who is one of the children, these assets could be protected from creditors that might emerge or from within the divorce, they may subsequently have. Then of course, there is the additional protections that a trust affords to avoid federal taxation to be able to utilize the full amount of the federal exemption, sometimes what we call, making sure that we are using the coupon.

Estate Planning Basics

Estate Planning Basics

Estate Planning Basics - Probate

Estate Planning Basics - Probate

Estate Planning Basics - Taxes

Estate Planning Basics - Taxes

Estate Planning Basics - Family Circumstances

Estate Planning Basics - Family Circumstances

Estate Planning Basics - Revocable Living Trust

Estate Planning Basics - Revocable Living Trust

Estate Planning Basics - The Lawyer's Role

Estate Planning Basics - The Lawyer's Role

Federal Estate Tax And You

Federal Estate Tax And You

What is a real estate investment trust?

What is a real estate investment trust?

Helping Seniors with Finances - Pulling Together a Financial and Estate Management Team

Helping Seniors with Finances - Pulling Together a Financial and Estate Management Team

Estate Planning

Estate Planning