Asset Protection | Live More Carefree
By Colin Ley
Simply put, an anonymous LLC is just like a “regular” LLC, except that the ownership details of the company are not published for any Tom, Dick or Harry to review. In fact, some states don’t even share the information with the IRS. They are also known as privacy LLCs. [Read more…] about Anonymous LLC
By Colin Ley
Part of the fun of being an estate planning attorney is when people ask you interesting questions. I was recently asked what would happen if somebody disappeared on an African safari. Sure…a pretty random question for most people, but this client saw a friend go through this process after a loved one disappeared and never returned. I had no idea about the actual process, but was able to agree it would involves courts and lots of time. This friend spent about 10 years trying to resolve the matter. That’s a long time!
When you don’t know something obviously you go straight to Wikipedia the law library and crack the books. [Read more…] about Infrequently Asked Questions: What if I disappear on safari?
By Colin Ley
Ok maybe I’ve never unleashed a rant about privacy on this website…but they’re coming! And if you’ve spent any time around me in person, you’ve probably heard my complaints about privacy.
This seems like a timely rant as we have gotten (ANOTHER) glimpse behind the curtains of US government surveillance. Although it’s been known for quite some time that the government has and does collect massive amounts of data on citizens and non-citizens alike. The current revelation is that the CIA (allegedly) has the ability to monitor what was believed to be encrypted communication through apps such as WhatsApp, Signal, etc. Putting aside why I think that is terrible (and the dumb argument of “if you’ve got nothing to hide…”), I’m also concerned by [Read more…] about Losing your privacy
By Colin Ley
In the last post I wrote about how it’s often a bummer for clients to plan for their final disposition. Some people take it in stride and have some creative thoughts for how their family can say goodbye. I often share a story about a burial at sea for those who are getting creative.
Spreading ashes (or a body) can be illegal in certain places. Take the Florida man, for example, who wanted his loved ones to bury him at sea and then have a fishing party after sending his remains overboard. When the man died, his family dutifully packed him in dry ice and drove down to Daytona beach to charter a boat. They motored a few miles from shore, tossed him in the ocean, and then fished for a while in his memory. I, for one, love this plan and love the idea of burial at sea (so much so I’ve asked my wife to chuck me in the Pacific when I die).
This man’s plan did not go so well. After the burial at sea, his body resurfaced and a fisherman discovered the floating corpse. The police came and opened a murder investigation! Detectives solved the case when they found his obituary indicating his planned “burial at sea.” It turns out having a burial at sea is highly regulated to avoid this exact scenario. Read more about the story here.
So if you’re thinking of a Viking funeral, burial at sea, or even a Sky Burial, make sure you aren’t going to turn your loved ones into criminals for carrying out your wishes!
Colin Ley is a Seattle estate planning attorney. He is also the co-founder of LayRoots along with his wife, Shreya (who will likely opt out of Colin’s burial-at-sea demands).
By Colin Ley
For most people, final disposition instructions are a real bummer to think about. Your final disposition instructions are basically what you want people to do with your body after you die. Nobody likes to think they will die! Doing some planning on what to do with your remains can help make things easy on your loved ones, who no doubt will be really sad you’re gone. [Read more…] about Estate Planning Definitions: Final Disposition
By Colin Ley
As an estate planning attorney, people often ask me what rights they have when it comes to trust payments. People asking these questions are concerned whether they are receiving enough distributions (nobody has complained yet about receiving too much). Or they are concerned that the trust funds are being mismanaged by the trustee (the person, or company, who runs the trust). Many times, strained family dynamics add to the conflict and confusion. [Read more…] about In Trust We Trust
