September 2019
Can Asset Protection Strategies Help Shield Your Wealth?

If you're a high-income professional or entrepreneur-or if you simply have a substantial net worth-you probably realize that in today's litigious culture, you're an attractive target for unfounded or frivolous lawsuits. 

But what have you done to actually reduce the risk of losing your wealth if you get sued? In our experience, far too many affluent individuals and families don't act to protect their assets, livelihoods and lifestyles. 

The good news: There are many strategies that can help safeguard your wealth against those who would unjustly seek to take it. Here's a look at the world of asset protection planning and how you might be able to leverage it to your advantage. 

The aim of asset protection planning 
For starters, it's helpful to know that there's no formal body of law called asset protection planning. Instead, it's a series of strategies and tools that are part of the category known as legal risk planning-which itself falls under the broader umbrella of risk management. Read the full report to see exhibit one and learn now you can protect your assets.


Make the RMD from Your Traditional IRA Tax-Free

Once you turn age 70 1/2, the tax code mandates that you withdraw a tax code–defined required minimum distribution (RMD) from your traditional IRA.

But by using the RMD or other IRA distribution with a qualified charitable distribution (QCD), you can eliminate the RMD tax bite, possibly reduce your Medicare premiums, possibly reduce the income taxes on your Social Security benefits, and more.

After you reach age 70 1/2, the tax code allows you to donate directly from your IRA account up to $100,000 per year in QCDs.

  • The QCD-donated money escapes income taxes and also does not count as adjusted gross income (AGI).
  • The QCDs can satisfy all or part of your RMD requirement.
  • The QCD doesn’t bump up against the mandated ceiling—50 percent of AGI—that applies to cash donations.

You likely will want to use the QCD if you donate money to your church, a school, or some other 501(c)(3) organization, such as the Red Cross or the American Cancer Society.

Read on to nail down the rules to make sure you are maximizing your deductions and learn more tax-savings tips.


Happy Birthday, Donna Richards!

Donna turned 55 on Saturday, September 7 th . She had a lovely birthday weekend with her husband, Neal, traveling in their camper, hiking and exploring new territories together from West Virginia to Maryland, back into Arthurdale, WV. Her next big trip she's planning out west to visit national parks and landmarks! She is all about adventure and seeing new things! Donna and Neal are both retired and enjoy living on their farm in Grantsville, WV. Join us in wishing Donna a Happy Birthday - Here's to many more!
Neck and Shoulder Stretches for Desk Potatoes

Many of us sit at a desk for hours a day and stare at a screen. This can cause neck and shoulder pain, and these easy, desk stretches can help:

  • Overhead side stretch - Not only does this stretch lengthen your neck, it can also help stretch your lats (your side muscles) and your obliques. While sitting up straight, put your arms over your head and lean to one direction. Repeat on the other side.
  • Side-neck stretch - Gently put your hand on the back of your head and guide it to your chest. Then, instead of putting your head straight down, turn it slightly by looking at your thigh. Here's a video demonstration (skip to 2:20 to see this stretch). 
  • Neck-roll stretch - Relax and lean your head forward, slowly roll it to one side, and hold for about 10 to 20 seconds, then slowly roll it to the other side.
  • Upper-trap stretch - Stretch your traps (the muscles above your shoulders) and your beck by gently pulling your head toward each shoulder. Hold on each side for 10 to 20 seconds. 

As always, never force a stretch. As you become more flexible, you'll be able to grow into the movement more, but only stretch as far as your body lets you. 

Tip adapted from Healthline:
Fall Chicken Casserole

Serves 8

Ingredients: 

  • 2 lbs. boneless, skinless chicken breasts
  • Salt
  • Pepper
  • Thyme
  • Paprika
  • ½ yellow onion
  • 2 sweet potatoes
  • 1 lb. of Brussels sprouts
  • ¼ cup chicken broth
  • 6 cups cooked rice
  • ¾ cup dried cranberries
  • ¾ cup almonds, sliced

Directions: 

  1. Preheat the oven to 350° F.
  2. Season the chicken with salt and pepper, and cook until done, about 8 minutes per side.
  3. Cut chicken into 1-inch pieces.
  4. Cook the veggies (sweet potato, onion, Brussels sprouts) and season with thyme, paprika, salt, and pepper, to taste. 
  5. Add the chicken broth and simmer on low for at least 5 minutes. 
  6. Stir in the cooked rice and chicken, and top with the almonds.
  7. Bake for 20 minutes. 

Recipe adapted from Delish:
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