The Law Offices of Amy L. Jenkins

03/16/2024

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10/31/2023

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02/10/2023

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02/07/2023

The following four mistakes are among the most common we see clients make when selecting life insurance beneficiaries. If you’ve made any of these errors, contact us immediately, so we can support you to change your beneficiary designations on your policy and ensure the proceeds provide the maximum benefit for those you love most.

Schedule your appointment today to get started.

Contact us today➡️https://app.acuityscheduling.com/schedule.php?owner=18898795

02/07/2023

The TCJA nearly doubled the standard deduction, which increased from $6,300 to $13,850 starting in 2018. This means your children will pay zero federal income tax on anything they earn up to $13,850. This tax break alone can save you thousands each year, and applies to both minors and those kids over age 18.

And even if your kids do earn more than $13,850 for the year, they will pay taxes at the reduced rates established by the TCJA, so they’ll still be reducing your family’s tax bill. Plus, as with other employees, you can deduct your child’s salary as a business expense, reducing your taxable income even further.

Contact us today to learn more.

Contact us today➡️https://app.acuityscheduling.com/schedule.php?owner=18898795

02/06/2023

Investing in life insurance is a foundational part of estate planning, and when done right it’s a primary way to say “I love you” to your loved ones after you are gone. However, when naming your policy’s beneficiaries, several mistakes can lead to potentially dire consequences for the people you’re investing to protect and support.

To read more➡️ https://amyjenkinslaw.com/4-common-mistakes-made-on-life-insurance-beneficiary-designations/

02/06/2023

Paying your children—whether they’re tweens, teens, or young adults—to work for your company is one of the greatest advantages of running a family business. By hiring your kids, you can help them develop a strong work ethic, give them experience managing money, and jumpstart their ability to save for their future, all while keeping more wealth in your family.

In return, you get employees who have a built-in sense of commitment, teamwork, loyalty, and you may even end up with a long-term succession plan. This sense of dedication is why so many business owners like to claim that their team is “just like family.”

To read more➡️ https://amyjenkinslaw.com/the-benefits-of-employing-your-kids/

02/04/2023

We’re grateful to help another family stay out of court and conflict with proper planning!

Thank you for your glowing review!

02/03/2023

Never choose a type of trust without working with a lawyer who understands you, your family, your assets, and your goals. Never use a life insurance professional or financial advisor to choose the type of trust or draft your trust for you. Too many variables could leave your family with a big mess.

We’ll guide you to make the right decisions during life and be there for your family when you can’t be. And we’ll integrate the proper insurance, financial, and tax professionals into your planning at the right time to ensure everything we create works for you and the people you love.

Contact us today➡️https://app.acuityscheduling.com/schedule.php?owner=18898795

02/03/2023

From setting up your financials and creating solid agreements to managing taxes and buying insurance, we can ensure you have the foundational legal, insurance, tax, and financial (LIFT) systems in place, so you can focus your time and energy on growing your new business. Schedule a LIFT Start-Up Session with us before launching your new company, and then, as your operation grows, meet with us again to implement the full suite of systems offered in our LIFT Foundation System and Toolkit.

Contact us today➡️https://app.acuityscheduling.com/schedule.php?owner=18898795

02/02/2023

An irrevocable trust is the same as an RLT -- an agreement between a grantor and a trustee to hold the property for a beneficiary. Still, if the trust agreement is irrevocable, or once it becomes irrevocable, it cannot be changed. There are some exceptions to this, but for the most part, that is the case. If you put your assets into an irrevocable trust, you cannot then take them out of the trust and return them to yourself because the gift to the trustee to hold the assets for the beneficiary is irrevocable.

Schedule your free consultation with us to discuss more about revocable and irrevocable trust.

Contact us today➡️https://app.acuityscheduling.com/schedule.php?owner=18898795