Young Affluent Archives

The “ESSENTIAL” Send Off Packet for ALL College Students (and Adult Children)

December 10, 2019
/ Asset Protection Blended Families Established Families Estate Planning Family Issues Farm Families International Individuals and Families Kids Legacy Planning Married Couples No.More.Tears. Parents Planning Process Real Estate Risk Singles Special Assets Special People Trusts Wills Wills & Trusts Young Affluent
/ By Tom Lofton

Your kids are either coming home for the holidays or possibly even getting ready to start college after the first of the year in some cases. Either way, it is critically important to send them off to college with an ESSENTIAL PACKET to protect them and you as their parents. We’re not talking about supplies […]

It’s HERE…the Tax Tables Everyone Needs to Know for 2020

One of the most anticipated (and dreaded) time of the year is when the IRS releases the tax rates for the upcoming year. It almost always happens in the last couple of months of the year. While everyone hopes their rates will go down, for most, they either aren’t going to change significantly or could […]

The “Four Pillars” You Need in Your Estate Plan so it “Works” the Way You Want It To

Regardless of whether you have an estate plan in place or are just starting to think about one, there are some key elements everyone should know about (or refresh their thinking about). It will be worth your time to refresh yourself (or educate yourself) on some core goals you should consider when thinking about estate […]

Three Critical Legal Documents Every Parent Should Have in Place NOW to Safeguard Their Adult Children

As a parent, you may have felt like you lost control of your “adult” children long ago…but according to the law, you lost control when they turned 18! Well, maybe not complete control, but at least control over certain medical and financial situations. When your child turns 18 years of age, at least in the […]

Do You Have an Estate over $11M…You’ll Want to Know About This Technique

The federal estate and gift tax exemption is at an all-time high ($11,400,000 as of January 1, 2019). This means that the vast majority of people will be tax exempt when it comes to gift taxes and only a tiny percentage of people who will have taxable estates. But for those of you who do […]

Are You Taking Advantage of the 199A Tax Deduction?

September 3, 2019
/ Advisors Business Owners Current Affairs Estate Planning Farm Families Legacy Planning Married Couples Parents Planning Process Retirement Planning Risk Settlement of Estates Singles Tax Tax Planning Trusts Wills Wills & Trusts Young Affluent Young Families
/ By Tom Lofton

Since it went into effect on January 1, 2018, our law office has been receiving a LOT of inquiries about the new IRC §199A deduction. Most don’t understand it and those that do aren’t sure exactly how to take advantage of it, or if it even applies to them. Allow me to try and simplify […]

Are You Going to Take Advantage of the Proposed “Clawback” Changes?

December 11, 2018
/ Advisors Blended Families Business Owners Farm Families International Individuals and Families Married Couples No.More.Tears. Parents Seniors and Retirement Singles Special People Young Affluent Young Families
/ By Tom Lofton

Because of the recent tax law changes, there is an interesting proposal on the table that will be voted on in March of 2019. It is expected to pass with little opposition. If it does pass, there will be some interesting “opportunities” for people between now and 2026. This is the window where you will […]

Celebrity “Fail” Series…Fail #3…How Burt Reynolds and Aretha Franklin Failed at Estate Planning

Burt Reynolds and Aretha Franklin fails in estate planning

This is the third in our “Celebrity Fail Series” that talks about how celebrities failed to do the proper planning for their estates. Besides having some great entertainment value, there are some important lessons that can be learned from some of the most recognized celebrities. It also demonstrates that effective estate planning isn’t about having the […]

Celebrity “Fail” Series…Fail #2…How Frank Sinatra Jr. Failed at Estate Planning

November 28, 2018
/ Blended Families Business Owners Established Families International Individuals and Families Married Couples No.More.Tears. Seniors and Retirement Singles Special People Young Affluent Young Families
/ By Tom Lofton

This is the second in our “Celebrity Fail Series” that talks about how celebrities failed to do the proper planning for their estates. Besides having some great entertainment value, there are some important lessons that can be learned from some of the most recognized celebrities.It also demonstrates that effective estate planning isn’t about having the […]

Celebrity “Fail” Series… Fail #1…How Prince Failed at Estate Planning

Prince the musician and lack of estate planning

In a world where people envy the lives of celebrities, there are some realities that might not make you quite so envious. One of these areas is Estate Planning. When we think they have it all together we often times discover this is not necessarily the case. When they pass away and their estate plans […]

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