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Asset Protection

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June is popular for weddings, which is appropriate as the month is named after Juno, the goddess of marriage, family, and home. And, with all that goes into planning a wedding it’s not surprising a topic like estate planning isn’t high on the list for the soon-to-be newlyweds. But it is something that should be considered when entering a marriage, especially if it is a second marriage and you’re blending families. One of the first things you may do is set...

As we continue the holiday season, and are in the spirit of gratitude, we would like to consider the gifts we give at the end of the year. Some gifts can be given tax-free and knowing the applicable tax exemptions before you give to loved ones and charities can be beneficial. Each year the IRS recognizes a gift tax exclusion. This is the amount an individual can gift to another person without incurring any tax. For 2020, the annual exclusion amount...

It is estimated that over 55 million Americans will kick off the holiday season by traveling to a family member’s or on a getaway this Thanksgiving.[1]  Holidays are a great time to see loved ones and learn about what everyone has been doing. And, with the hecticness it may seem easier to put off topics like estate planning until the new year, but the holidays are actually a great time to consider the matter. Traveling can prompt discussions to ensure you have a plan in place in...

Car accidents have unfortunately become a common occurrence. According to Michigan State Police, there were 312,798 car accidents in 2018, which resulted in over 75,000 people being injured[1]. These injuries can lead to emergency room visits, extended hospitalizations, physical therapy, missed work, and they can also wreak havoc on your accounts and assets if you have not properly planned for your future. Lawsuits can be, and often are, filed over car accidents. These will likely result in the person who was injured being owed money from the person who...

October is Financial Planning Month, a time to check in on any financial goals you may have made this year. Maybe your goal was focusing on becoming more fiscally responsible, maybe you wanted to save for a big purchase or vacation. Or, perhaps it was looking at ways you could plan for your future, your retirement, and your family’s future. Another way to plan for your future and your retirement is through estate planning. Our method of estate planning focuses on how our clients can remain in...

Estate planning may be something you only associate with older adults – those with families that span multiple generations, retirees who have accumulated wealth from work and various retirement and investment plans, or elderly individuals who require assistance through at-home care or nursing homes. But estate planning can be beneficial to young adults as well. The following tools can help an individual plan for many different occasions, no matter what age. If there is an accident that causes incapacitation, most young adults would want their parents’ or spouse’s...