Johnson Law Firm
Asset protection planning is the process of building barriers around your assets, whether those assets are personal or business, to keep them safe from litigation, creditor claims, seizure and burdensome taxes.
When preparing estate planning documents, certain beneficiaries may need more protection than others. One particular class of beneficiaries that needs to be intentionally considered is minor children.
If you die without a will, you die ‘intestate’ and your assets will be distributed according to your state’s law. That could result in a distribution you didn’t intend.
Overlooking an important step or making a blunder can derail all your careful planning, leaving your heirs and beneficiaries with a headache-inducing challenge.
There’s almost always a reckoning when the government proffers a tax break. So it is with individual retirement accounts (IRA)s, 401(k)s and similar accounts that investors fund with pre-tax earnings.
Once 2026 arrives, many of the tax adjustments that were part of the 2017 Tax Cuts and Jobs Act (TCJA) are expected to expire.
It is your right to keep your health information private, but is that always what is in your best interests?
Estate planning is one of the most important steps you can take for yourself and your loved ones.
Doing some ‘upstream’ planning now will take the guesswork out of what’s coming your way.
One goal of estate planning is to bring some certainty to a multitude of variables. Recent increases in inflation, interest rates and market volatility, however, are causing some experts to reassess their options.
