Lohr & Company

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Insurance, Annuities & Retirement Insurance Plans, Financial Planners

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(757) 569-9168Call Visit WebsiteVisit Website Map & DirectionsDirections200 W 2nd AveFranklin, VA 23851 Write a ReviewWrite Review

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TollFree: (800) 272-2216

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Lohr & Company LLC

Lohr & Co LLC

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https://www.lohrandcompany.com

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Insurance, Annuities & Retirement Insurance Plans, Financial Planners, Financial Planning Consultants, Financial Services, Investment Advisory Service, Investment Management, Retirement Planning Services

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Phone: (757) 569-9168

Address: 200 W 2nd Ave, Franklin, VA 23851

Website: https://www.lohrandcompany.com

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Lohr & Company

Tax Planning
Working with a firm who specializes in your demographic is essential. For example, our firm serves retirees and those approaching retirement. So we’re very well versed in retirement income generation, managing risk, Social Security, Medicare and tax planning. The planning on the front-end related to all these topics informs the implementation on the back-end, so you want those most experienced with the challenges you face.
Charitable Giving
It comes back to the beauty of the advisor-client team working together. We’ve helped shift paradigms for them about how retirement can look and they’re choosing to stay disciplined within the plan we’ve built – it’s just a successful outcome for everybody. Their joy, their peace, and the irony of just getting more and more money that they didn’t think that they could enjoy whether it’s doing some more travels by themselves or with a spouse, expand life experiences with children and grandchildren. Whether it’s primary, secondary education or college funding, seeing investments made into the education of their grandchildren or charitable giving to what resonates in their hearts. Being able to do all of this knowing that they’re not going to lose ground on their lifestyle.
Estate Taxes
Avoiding Probate
The probate process is known to be slow and expensive, but that’s not always the case today. Especially for smaller estates, many states have created a simplified process that can go quickly. Regardless, a properly managed trust will avoid the probate process, which can simplify matters.
Roth IRA
A Roth conversion sounds technical, but it’s fairly simple: it’s moving money that is in pre-tax accounts, like an IRA or a 401K, and shifting that to a Roth IRA. When a retiree shifts money from these pre-tax accounts to a tax-free account in a Roth IRA, something has to happen. They have to declare income to the IRS. Even though money is being shifted from one account to the other and it’s not being experienced as income to the retiree, it’s still a taxable event. So in that process, the retiree will declare income in that given year, and a portion of their retirement assets are converted to Roth assets.
Tax Deductions
It’s beneficial to have a good mix of taxable and non-taxable accounts, so you have some ability to control your taxable income each year. Roth accounts are ideal for that since your withdrawals in retirement will be completely tax-free. With Roth accounts, you contribute after-tax dollars. While you give up the upfront tax deduction that a pre-tax contribution gives you, the tax-free income source in retirement reduces future tax liability. It also gives you that flexibility to help control your tax liability in some years.
Income Tax
Another important element to that financial gifting and that legacy goal for retirees is that this would be a tax-free gift to the beneficiary. Many retirees want to leave a legacy as big as they can without income taxes getting into the mix and reducing what that overall gift would be to the beneficiaries, and this is a reasonable motive for many retirees. Now, there’s a conventional way that many retirees are trying to create tax-free legacy assets, but when we look at things through the 4Buckets lens, we’re actually going to show a different way to create tax-free assets and will pose that this might actually be a better route to create tax-free assets in retirement. Let me explain.

Investment Management
Private wealth managers combine all of these disciplines to deliver a convenient, all-in-one solution. Many wealth managers are financial planners, or they may be investment managers with a dedicated financial planner on their team. Rather than charging planning fees, they may incorporate both planning and investment management fees into a single advisory fee based on assets overseen.
Mutual Funds
What? How does that work? Yes, it’s called the cost-basis step-up. It’s written into the tax code and it allows investments like real estate, individual stocks, ETFs, and mutual funds to be stepped up to the market value at the date of death of the retiree. The basis that existed when the retiree paid income tax on – that is stepped up to the higher market value on the date of death of that retiree. Meaning, a beneficiary such as a child or grandchild that wanted to liquidate that investment the same day would not owe any income tax.
Wealth Management
The term “wealth management” sounds impressive, but in reality, few people actually know what it means. How does wealth management differ from the services of a regular financial advisor or financial planner? And, is it right for you?

Financial Planning
A CFP® professional is required to act as a fiduciary in all aspects of the relationship: plan creation, implementation, and monitoring. A CFP® professional can derive their compensation on a fee-only or fee-based basis. The key difference between these two is that a fee-based professional can receive commissions on insurance and/or investment products while a fee-only professional does not. Here are some visuals to help explain the fiduciary obligation during the financial planning process and the type of compensation received.
Retirement Planning
Decades ago, retirement planning was a straightforward task. An employer pension would usually cover many of your expenses in retirement. Once you stopped working, you’d roll your stocks into bonds that paid a reliable interest rate. Additional retirement savings or social security provided a cherry on top.
Annuities
More often than not retirees have a tainted view of annuities and their role for retirement. Adverse marketing about annuities, product jargon and nuances, and advisor trust/distrust all play into the Read More
Long Term Care
After envisioning how your retirement lifestyle could look, we then begin building a custom strategy to meet it. The 4Buckets℠ uniquely combines a retiree’s preference for certainty and risk to develop a plan for retirement income and investment allocation. Along this journey, we’ll also tackle other key topics related to healthcare and long-term care expenses, tax efficiency, social security claiming strategies and estate planning. It’s comprehensive planning centered around the main thing – you and your retirement lifestyle.
Asset Management
Asset managers primarily focus on growing your investment wealth by offering specialized investment advisory services. Clients of asset management firms are usually institutions or very high net worth people.
Living Trusts
Because it can’t be changed or revoked, an irrevocable trust is capable of helping protect assets for future generations. In some cases, other types of trusts may be useful as well for protecting your legacy. Those can include revocable living trusts, testamentary trusts, special needs trusts, charitable trusts, and spendthrift trusts. Each trust has different advantages and features but may play a role in your overall plan.
College Funding
Asset Protection
Most trusts can help shield personal assets from business creditors and make your family a less attractive target for litigation. Trusts can also help keep money in your family in the case of future divorce.

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