Does setting up an irrevocable trust by my parents to buy me a property as a gift, protect the property in case of a divorce?

As a very general matter, it is possible for your parents to create a trust for your benefit where the trust owns cash, property, or other assets...

What can i do in income tax situation debt? a mistake from tax agent

I am sorry that you are having this problem. Regardless of why the mistake was made or who made the mistake, you owe the tax once the tax has been...

I am 73 years old and file jointly. If I sell land that was gift-deeded to me, what effect will that have on my income taxes?

The effect on your income taxes will depend on a number of factors. First, you need to determine your "income tax basis". Since you received this...

Generally, a "living" trust is a revocable trust. So, the person who created the trust can change it - throw it away and redo it. But, third...

I have several rental properties that are all currently in my name. What's the best way to acheive asset protection?

Attorneys McDowell and Frederick give you a good answer related to liabiity arising from the actual property ("inside" liability) and protecting...

What type of asset protection plan should I pursue to protect my dying father's personal checking account from creditors?

I agree that a gift is likely a fraudulent transfer. Also, the Power of Attorney may not allow you to make a gift anyway. If the Power of...