Asset Protection

A jury ordered JP Morgan Chase to pay $8 billion to the offspring of an American Airlines executive for mismanaging their inheritance, but the kids think it’s excessive. The bank expects the entire matter to be overturned by the Dallas, Texas court system. The man who created the seat reservation system for American Airlines, Max…

It’s not great news for retirees who depend upon Social Security, even if it is the biggest increase since 2012. If you want a high-quality lifestyle during retirement, don’t count on Social Security or Medicare. First, the good news from AARP’s article, “Social Security Payments to Increase 2 Percent Next Year:” Social Security benefits will…

Inflation is the primary reason for increases in the 2018 estate and gift tax exemptions. After months of speculation about whether or not the estate and gift tax exemption would increase, the numbers are now official. The estate and gift tax exemption for 2018 is $5.6 million per individual, an increase from $5.49 million in…

The seriously ill, disabled and seniors are all threatened by a proposal that’s part of the tax reform bill that was recently released. The medical tax deduction is under fire, included in the tax reform bill presented by House Republicans. This would have devastating economic consequences for seniors, people suffering from chronic conditions and the…

For now, a report on affluent millennials reveals them to be extremely idealistic, willing to put their retirement savings on a back burner in order to give their kids every advantage. The affluent millennial may have a different take than their less successful peers. However, an online survey of 1,000 affluent investors, with assets of…

There are often bumps along the way, when it’s time to plan for the future of a family farm. Farms are usually passed along to the next generation, but there are instances when parents want to give the farm to grandchildren. A history of farming for five generations is a wonderful and increasingly rare thing.…

Take a walk around your home with your kids, and talk about the possessions that hold meaning to them. Planning ahead for how their favorite items are distributed may prevent family squabbles during a difficult time, when emotions run high. You might think that disputes over million dollar bank accounts would be at the source…

Deciding when you should retire should be guided by a number of factors, including when you can afford to retire and if you have a plan of what to do with the rest of your life. In an ideal world, retirement income should be the driving force behind your decision when to retire, according to…

Estate planning covers far more than a will to distribute your assets on death. It also creates a plan for how you use assets while you are alive, how to protect your loved ones from unexpected events and conveying your wishes, if you become incapacitated. Without an estate plan in place, would your spouse and…

Known for his progressive music, social satire and political activism, it seems somewhat fitting that a tour featuring a hologram of Frank Zappa, along with members of his former band, is in the works. Members of musician Frank Zappa’s family recently announced that they are working on recreating a performance of a rock opera originally…