Welcome to Blueprint for Wealth! I created this web site to help you and your friends, family and colleagues realize your personal dreams of wealth and freedom by providing you with educational content on legal developments in the areas of estate planning, tax planning and business planning. The site contains articles, videos and podcasts of interest in each of these areas. If you need legal advice or legal assistance, please call me at 703-218-2177 or email me at firstname.lastname@example.org. See Disclaimer.
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- Portability and Married Couples: No Downside? By Wayne M. Zell As a married couple, you need to know that portability laws and the opportunities that they create have significantly increased. No longer is the standard credit shelter trust (with QTIP or outright distribution to spouse) the only way for married couples to plan. Now, you have a larger and more complex set of circumstances to consider in determining whether your estate plan should be credit shelter or portability based. The best news is that, other than having to file a federal estate tax return (Form 706), there is limited downside to including portability in a plan. Quick Review Portability was ... Read more
- What You Need to Know – How to Avoid a Basis Management Disaster By Wayne M. Zell When it comes to estate planning, many people who set out with the best of intentions make a mess of the estate plan after the fact. Take the example of the widow who has already transferred her house into her children’s names, or an inherited IRA is drained that is to pay for a Porsche. The lost planning opportunity and the financial fallout is universally gut wrenching. Please feel welcome to use the below facts and scenarios in your estate planning, conversations, and personal education. Consider these facts and information as a “red flag” list of tax pitfalls ... Read more
- Nancy Popovich Discusses The Wise Investor Group on Blueprint for Wealth Please join Wayne M. Zell, Esq. for his interview of Nancy Popovich, Director of The Wise Investor Group, and her insight into the value investing approach taken by this popular wealth management firm. Read more
- Seven Trust-Based Asset Protections Strategies for Your Estate By Wayne Zell Asset protection planning is a powerful way to provide additional value to your estate. In this blog you will learn about seven trust-based asset protection strategies and how they can: - Protect your assets from creditors, lawsuits, and divorcing spouses. - Protect assets gifted to, or inherited by, a spouse, children, or other beneficiaries. Lifetime Asset Protection Trusts – Having Your Cake and Eating it Too A Lifetime Asset Protection Trust is an Irrevocable Trust created during an individual’s lifetime that can be used to: - Qualify an individual for Medicaid, while preserving an income stream for the well spouse and protecting the trust ... Read more
- Reasons to and not to have an ESOP For an excellent summary of the reasons to have or not have an ESOP for your company as a business succession planning tool, please check out the following article from NCEO: http://www.nceo.org/articles/reasons-esop. Read more
- Chris Helmrath of SC&H Capital Group Discusses Healthcare Industry Please join Wayne M. Zell, Esq., for his interview of Christopher Helmrath, of SC&H Capital Group, and listen to Chris’ insights into the current status of our healthcare industry. Read more
- Chris Helmrath Discusses SC&H Capital Group Please join Wayne M. Zell, Esq. for his interview of Christopher Helmrath, Managing Director, SC&H Capital Group. Chris discusses the firm and the unique investment banking services provided by his group. Read more
- Inherited IRA’s Not as Protected as Other Retirement Benefits Adapted from the original article published in The Wealth Counselor on July 1, 2014 In a landmark, unanimous 9-0 decision handed down on June 12, 2014, the United States Supreme Court held that inherited IRAs are not “retirement funds” within the meaning of federal bankruptcy law. This means they are available to satisfy creditors’ claims in the bankruptcy context. See Clark, et ux v. Rameker, 573 U.S. __, (2014). The Court reached its conclusion based on three factors that differentiate an inherited IRA from a participant-owned IRA: 1. The beneficiary of an inherited IRA cannot make additional contributions to the account, while an ... Read more
- Yuval Bar-Or Explains the Pillars of Wealth Please join Wayne M. Zell, Esq., for his podcast interview of Dr. Yuval Bar-Or, who discusses his new book, Pillars of Wealth. The book focuses on providing high quality, nuanced education medical practitioners can use to make better financial and business decisions for themselves, their families, and their medical practices. Read more
- John “Buck” Chapoton Discusses Brown Advisory Values Please join Wayne Zell of Odin, Feldman & Pittleman, P.C. for part two of his two-part interview with John “Buck” Chapoton, former Assistant Secretary of the Treasury in the Reagan Administration and Senior Advisor with Brown Advisory. In this segment, Mr. Chapoton discusses the rapid growth and success of Brown Advisory. Read more