Which Asset Protection Strategies Are Right for Your Clients?

How You Can Keep Legal Claims From Threatening Their Property? Most of us do not expect to be sued. However, lawsuits are filed every day the courthouses are open. If your clients’ estate plans don’t include adequate asset protection, they could end up losing a substantial amount of their wealth in the event of a claim – even a “frivolous” one. It’s well worth talking…

Solve the Troubled Adult Child Beneficiary Dilemma in Three Easy Steps

How to Plan a Successful Financial Future for Every Family Many clients with concerns about a struggling adult child are apprehensive about discussing such a sensitive topic. But broaching this subject can lead to a number of benefits for all parties involved — for the family, for the adult child, and for you as their professional advisors. Working with us rounds out the team of…

Ready? Okay! The Team Approach to Client Service in 2018 and Beyond

How are you planning to strengthen your client relationships in the new year? Effective collaboration as a client-service wealth team helps your clients trust you, creates better client retention, and yields greater opportunities for placement of appropriate products and growing assets under management. Estate planning is about much more than just taxes Many professionals see estate planning as a tax-focused discipline. However, estate planning encompasses…

Tax Reform: Solutions for Your Clients and Their Estate Planning

In December 2017, Congress passed, and President Trump signed a sweeping tax reform bill commonly known as the Tax Cuts and Jobs Act. This new Act contains several significant changes that will impact your clients and their estate planning. Estate Tax Changes Starting January 1, 2018, the estate, gift, and generation-skipping transfer (GST) tax exemptions double from $5 million to $10 million (adjusted for inflation).…

Last-Minute Opportunities Before the New Tax Law Takes Effect

(Below is an article about last minute planning considerations in light of the new tax act written by my colleague Andreea Olteanu, JD of WealthCounsel.) With 2017 coming to an end and sweeping tax reform legislation (Act) having been signed into law, some last-minute opportunities should be considered while the current law still applies. There are steps that taxpayers can take before the Act takes…

Exciting New Opportunities under the Recently-Enacted Tax Cuts and Jobs Act

Congress has just passed, and President Trump is expected to sign the Tax Cuts and Jobs Act. Although continued study of the bill will undoubtedly reveal additional opportunities, I wanted to share some of the immediately available opportunities for your clients. Significant Changes to Business Taxation Every business owner must have his or her business ownership structure and tax status reviewed immediately. Relying on old…

How to Jumpstart Your Clients’ Year-End Planning

Don’t Wait Until the Busy Holiday Season As summer fades in the rear-view mirror, it’s a good time to give yourself a reality check: Clients never have enough time to meet for year-end planning during the busy holiday season (and you might not, either), which is why you should be proactive and meet with them now — even if it seems too early to do…

If You Are Married, Does Your Estate Plan Properly Cover All Four Critical Phases?

  THE PHASES OF ESTATE PLANNING – Part One For married couples, proper estate planning entails covering four phases. Let’s begin with a discussion about Phase One PHASE ONE – ALIVE AND WELL Many people come to me to discuss estate planning because of one or two main concerns or goals. Such concerns and goals often include:   how to best give their loved ones an…

Asset Protection Planning for the Modern Client

Only the very wealthy and those in high-risk professions need asset protection planning, right? That’s a myth. In reality, we all need asset protection.  Why?  Because we all can be sued and lose everything we have.  A car accident, business failure, foreclosure, medical crisis, or injured tenant can result in a monetary judgment that will decimate your client’s finances. This week, our goal is to…

Harnessing the Power of Trusts to Help Your Clients Protect Their Heirs

Now January is behind us, and we are back into our work routine, here’s a question to ponder: Are all your clients’ estate plans structured to provide long-term protection against court interference, creditors, bankruptcy, divorcing spouses, and financial mismanagement? As a financial or tax professional, you need to assume that “Murphy’s Law” is always potentially in play: if something can go wrong for your client,…

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