Why, Aretha?!

Aretha Franklin Died Without an Estate Plan  Dear Reader,     The “Queen of Soul,” Aretha Franklin, is known and loved around the world, and there are millions that can sing along when her famous anthems “R.E.S.P.E.C.T.” and “A Natural Woman” play. Countless men and women look to her as a role model of unprecedented musical talent as well as an influential voice in the civil rights era.     As an estate planning attorney, I was surprised when it was disclosed […]

Newly Wealthy Clients

Dear Reader,       There is a new generation of high net worth clients emerging, and the advice we give to these nouveau riche is quite different from the advice we would render to our seasoned clients. In fact, much of this instruction was given to our established clients a couple of decades ago – and it has played a leading role in their current prosperity. One of our primary objectives at the firm is to play the long game – plan […]

Could the new Tax Act impact your estate?

4000 S. Range Line Road Joplin, MO 64804  417.623.2062 | Email Us ProtectingWealth.com STAY CONNECTED           Dear Friend,    On December 22, 2017 President Trump signed the Tax Cut and Jobs Act (TCJA) into law. The new law makes modifications to the income and estate tax system. Allowed exemptions from federal estate tax: 2017 – $5.49 million for individuals 2018 – $11.2 million for individuals, $22.4 million for married couples    These exemptions are tied to the lifetime gift tax and generation-skipping transfer tax as […]

Basics of Medicaid

Basics of Medicaid What You Can & Cannot Keep  Dear Friend,    We meet with families on an almost daily basis to discuss Medicaid qualification, and the number one question we receive is, “How can I qualify for Medicaid without having to get rid of my life’s savings?” This is a valid question, as their are assets that Medicaid considers exempt and assets that are “countable.”  I have attached our “Basics of Medicaid” white sheet that provides a general overview of […]

medicaid planning basics

3 Essentials For All Families

Dear Friend,      Is it just me, or do you have clients that talk themselves out of hiring you? In my experience, there is an unspoken stigma that estate planning is only for the very wealthy, and our firm endlessly strives to remove this false perception through community education, informational booklets, monthly workshops, and our e-newsletters. This is also why we value our partnership with professionals like you. Your expertise serves as a valuable resource for our clients, and […]

Don’t Doubt Your Impact

Dear Friend,    Happy 241ist Independence Day! I’m grateful for America’s many forefathers that bravely forged the nation we are privileged to live in today. Just this weekend I read an intriguing and influential article by Tom Vick, the State Bar President of Texas, and this inspirational message is one I would like to pass along to you, our valuable colleagues and clients. Below is an overview of his article.    In July, we commemorate the creation of the Declaration of Independence, […]

Why Clients Fail To Plan For Long-Term Care, Part III

Dear Friend,      Misconceptions Americans have about long-term care as well as who will need it, as well as the need for coordinated care can hinder a client from planning for their long-term care. In my final look at this topic, we will review the cost as well as how to adequately prepare. The Cost of Long-Term Care    The Genworth Cost of Care Survey of 2015 showed a lack of understanding by many of coverage for long-term care by Medicare, […]

Why Clients Fail To Plan For Long-Term Care, Part II

Dear Friend,      Last week we discussed many of the misconceptions Americans have about long-term care as well as who will need it. This week, I wanted to provide you with more information about why your clients are perhaps not planning for long-term care, including the need for coordinated care. Quality of Long-Term Care    The Genworth Cost of Care Survey of 2015 defined person-centered care as “an approach to health care and supportive services that allows individuals to take control […]

Contact, Name, Client

Why Clients Fail To Plan For Long-Term Care, Part I

Dear Friend,      Most Americans do not know, or refuse to accept, the facts surrounding their potential need for long-term care and the costs associated with it.  This was reconfirmed recently in a telephone survey of 1,735 Americans over the age of 40, funded by the SCAN Foundation and conducted by the Associated Press (AP) – NORC Center for Public Affairs Research (“survey”).[1]  This survey highlights many of the misconceptions Americans have about long-term care, including: The potential that […]

8 Important Maintenance Questions

Dear Friend,    “The riskiest thing we can do is just maintain the status quo.” – Bob Iger, CEO, The Walt Disney Company All too often I have had clients start down the path of estate planning only to then allow those plans to become outdate and obsolete. The hurdle of initiating estate planning can be a high obstacle, however, once cleared, it is vital that those plans are reviewed and updated as family situations, tax requirements, and federal and state legislation […]