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Linda Solash-Reed
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“Many seniors may be more focused on their bucket lists, than worrying about having their financial affairs in order.” Seniors should be having some heart-to-heart discussions with their spouses and loved ones about their wishes concerning their assets and their final days, according to Intermountain Catholic in “Retirees Have Several... Continue reading
Posted yesterday at Orlando Estate & Elder Law
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“What will happen to my online accounts, such as email, social media and digital music services, when I die?” So much of our lives is lived online that we don’t give it a second thought—until a person with an active digital life passes away. Then what happens? According to this... Continue reading
Posted 2 days ago at Orlando Estate & Elder Law
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“In the coming decades, baby boomers in the U.S. are expected to transfer an estimated $30 trillion in assets to subsequent generations. For many families in Minnesota, that will include the family cabin.” One of the key markers of summer in many areas is crowded roads, as folks head out... Continue reading
Posted 3 days ago at Orlando Estate & Elder Law
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“A bad medical diagnosis can make a person realize that he suddenly has far less time to get his affairs in order. What’s the best way to leave assets to your heirs? Should you pay off your mortgage?” Receiving a terrifying medical diagnosis of a fatal illness can leave you... Continue reading
Posted 4 days ago at Orlando Estate & Elder Law
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“Our inherent nature to delay the inevitable, can lead the ones we care about into financial chaos. To avoid the chaos, careful preparation is needed when it comes to estate planning.” Estate planning protects families, especially those with young children. It can eliminate stress, expense and unpleasant consequences that can... Continue reading
Posted 5 days ago at Orlando Estate & Elder Law
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“The process of estate planning is only more painful if one spouse has already passed. In this situation, a surviving elderly parent may enlist the assistance of their adult children to manage and divvy up finances.” Having adult children actively involved with their mother or father when the other spouse... Continue reading
Posted Aug 10, 2018 at Orlando Estate & Elder Law
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“You’ve retired. You received your gold watch, claimed Social Security and begun to plan that oft-delayed trip of a lifetime…. Where, though, should you enjoy your repose: Hilton Head, South Carolina? Jekyll Island, Georgia? Maui?” This answer will definitely surprise you: Sioux Falls, South Dakota. According to a new study... Continue reading
Posted Aug 9, 2018 at Orlando Estate & Elder Law
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“Millions of Americans receiving pensions could be in for a bad tax surprise next year.” One item that may have escaped your attention about last year’s tax reform is that many pension payments are bigger, because of the new lower tax rates for 2018. However, that nice surprise may be... Continue reading
Posted Aug 8, 2018 at Orlando Estate & Elder Law
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“Since last year, the NAHB has seen a 30 percent increase in the number of its members seeking special training to help older clients who want to stay in their homes for as long as possible. Remodeling a house, is just one way to make that happen.” The ultimate goal... Continue reading
Posted Aug 7, 2018 at Orlando Estate & Elder Law
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“For most of your working life, it wasn’t exactly a pressing concern. You might have pondered it for a few minutes as you skimmed your company’s benefits handout, checking to see if your new glasses were covered or if you’ll be reimbursed for your gym membership.” It’s only when their... Continue reading
Posted Aug 6, 2018 at Orlando Estate & Elder Law
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Many people assume that Revocable Living Trusts are just for wealthy people. However, the benefits that they can offer to someone with even minimal wealth are significant. One of the more common questions for estate planning attorneys is asked and addressed in an article from thebalance.com, “Will or Revocable Living... Continue reading
Posted Aug 3, 2018 at Orlando Estate & Elder Law
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“The succession-planning process is complex and lengthy. To keep your eye on the ball and meet your goals, your family must meet regularly to foster good communication and trust.” The future for a farm family depends on family meetings that involve all stakeholders. The likelihood of success is bolstered by... Continue reading
Posted Aug 2, 2018 at Orlando Estate & Elder Law
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“Financial service providers will now be encouraged to report suspected financial abuse through the promise of immunity, thanks to a new federal law signed by President Trump on May 24, 2018.” Congress has decided to try the carrot instead of a stick regarding financial service providers and financial elder abuse,... Continue reading
Posted Aug 1, 2018 at Orlando Estate & Elder Law
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“Many members of Generation X, who are now in their 40s and 50s, were hit harder by the Great Recession. They are still catching up financially. This so-called Sandwich Generation also faces challenges in getting ahead financially, while caring for their parents and children.” Generation Xers, whose retirement funds are... Continue reading
Posted Jul 31, 2018 at Orlando Estate & Elder Law
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“Take advantages of company matches, of course, but also ask about true-ups.” There’s a lot of bad press about workplace retirement plans and particularly about the fees. However, to be perfectly blunt, 401(k) plans have been a great help to millions of working Americans. In total, 55 million of us... Continue reading
Posted Jul 30, 2018 at Orlando Estate & Elder Law
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“Many times, people spend a great deal of time, energy and money creating an estate plan. However, the plan does not work, because their assets are not funded properly.” Funding assets is a critical step in the estate planning process that is very frequently forgotten, as reported in The Farmer’s... Continue reading
Posted Jul 27, 2018 at Orlando Estate & Elder Law
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“Halfway through the tax year is always a good time to assess where you stand with Uncle Sam. You can see how the year’s tax bill is taking shape, while you still have plenty of time to make tax-saving moves.” This year is particularly important to do a mid-year tax... Continue reading
Posted Jul 26, 2018 at Orlando Estate & Elder Law
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“Research suggests the key to lengthening your lifespan, might be an early departure from the workforce.” Want to live longer? Think about retiring earlier, according to a study from the journal Health Economics that linked early retirement with a longer lifespan. US News reported on the study in the article... Continue reading
Posted Jul 25, 2018 at Orlando Estate & Elder Law
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“When all is said and done, ending a marriage can be almost as destructive to your retirement savings as the Great Recession was, according to new findings from the Center for Retirement Research at Boston College.” It is almost impossible to end a marriage and to leave retirement savings intact.... Continue reading
Posted Jul 24, 2018 at Orlando Estate & Elder Law
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“As baby boomers age, many are planning to downsize into smaller homes. However, preparing to live in a smaller space brings up a challenge: how do you get rid of all the stuff you’ve accumulated through the years.” Maybe you always thought one of your daughters would want the silverware... Continue reading
Posted Jul 23, 2018 at Orlando Estate & Elder Law
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A settlement has been reached in the estate of Sheila von-Wiese Mack, a wealthy Chicago woman who was the victim of a gruesome murder in 2014. Sheila von-Wiese Mack created a relatively simple estate plan. She created a trust whose sole beneficiary was her daughter Heather Mack. Heather was to... Continue reading
Posted Jul 20, 2018 at Orlando Estate & Elder Law
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Whether a trust is considered a grantor or non-grantor trust can have important tax implications. One of the more important issues in trust law, is whether any particular trust is considered a grantor or non-grantor trust for tax purposes. The differences between the two are set forth in the Internal... Continue reading
Posted Jul 19, 2018 at Orlando Estate & Elder Law
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Many different people and groups in the U.S. are beginning to seek ways to turn death into a positive experience that focuses on the person involved. Death has typically been something of a taboo subject in our culture. We all know that it will eventually happen to us, but we... Continue reading
Posted Jul 18, 2018 at Orlando Estate & Elder Law
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If you would like to take advantage of the new lifetime gift tax exemption limit before it reverts to a lesser amount in a few years, you have many options for doing so. The recently passed tax reform law doubled the lifetime gift tax exemption from previous levels. However, the... Continue reading
Posted Jul 17, 2018 at Orlando Estate & Elder Law
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It is never an easy decision to disinherit a child. People who have made that difficult decision, need to understand that it is also difficult to legally do so. Sometimes parents think they have no other choice but to disinherit one of their children. They can decide this for many... Continue reading
Posted Jul 16, 2018 at Orlando Estate & Elder Law