Legislative Update: Special Needs Trust Fairness Act On December 7, 2016, by an overwhelmingly affirmative vote of 94 to 5, the Senate approved H.R. 34 a.k.a. the 21st Century Cares Act, a $6.3 billion package of health-related initiatives.  The Act was signed by President Obama on December 13, 2016.  This new law includes the Special…

The United States Supreme Court has determined that inherited IRAs are not protected from bankruptcy creditors. Although this development presents a serious risk for clients, it also presents a planning opportunity for financial advisors. How Protecting Inherited IRAs Benefits Financial Advisors If a retirement account is seized in a lawsuit, spent down on frivolities, or…

Did you know that six of the 13 fastest growing cities in the nation are in Texas – and when you move, you need the best estate planning in Frisco? If you are used to fighting rush hour traffic during your work commute, you might not be surprised by that statistic; the growth DFW is…

Get ready to take notes!  The City of Plano Parks and Recreation Department is providing three great opportunities to hear Tresi speak this summer.  Learn more about planning for your family’s future with these courses: GUARDIANSHIPS & ALTERNATIVES, SPECIAL NEEDS TRUST & NEW ABLE ACT, and FAMILY LEGAL DOCUMENTS Thursday, June 9th from 6:30PM to…

You may have a retirement plan, but is there a gaping hole in your plan – one that threatens to unravel the whole thing?  That gaping hole may be long-term care planning. If you haven’t given it much thought, consider the following facts the U.S. News and World Report published this year: Who is prepared?…

Why a Retirement Trust Account gives you the best of both worlds. In the estate planning worlds of asset protection for beneficiaries on the one hand, and income tax advantages for beneficiaries on the other, the conventional wisdom that asks one to choose between the two when it comes to your retirement accounts, is no…

For IRAs and Other Tax-Deferred Retirement Accounts Naming the right beneficiary for tax-deferred retirement accounts is critical. Most people want to continue the tax-deferred growth for as long as possible, pay the least amount in income taxes and get the maximum stretch-out. Required distributions after the owner dies will be based on the new beneficiary’s…

You can’t create wealth until you preserve it first. Each dollar lost unnecessarily isn’t just a single dollar lost, but a compounded dollar lost. A dollar not lost allows wealth to compound from a higher floor. Losses can occur from many places beyond investments: property, income, taxes and fees. It is well worth paying for…

Trusts are some of the most valuable tools for estate and wealth planning, but some unscrupulous individuals and companies can seriously harm your family’s financial and legal situation, by offering one-sized fits all scam trust plans or by proposing something that promises the moon, most typically either 100% avoidance of federal income taxes or 100%…

Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. However, if property has appreciated and there isn’t sufficient insurance for replacement value, any losses must be paid out of pocket. To protect your wealth from these kinds of losses, it is important to determine replacement values so…

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