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Family Security Law Group, APC
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“While financial advice is designed to apply to all investors, the reality is that women statistically live longer than men and may face issues such as ensuring their assets last through their expected lifetime.” Financial and estate planning is essential for everyone, but the fact that women are more likely... Continue reading
Posted yesterday at Family Security Law Group, APC
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“It is best to get advice from a solicitor, public trustee or private trustee, if you are unsure about making or changing a will.” There’s no escaping death. It’s a fact of life. But having your affairs in order helps eliminate some of the stress and anxiety during a very... Continue reading
Posted 2 days ago at Family Security Law Group, APC
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“The vast majority of older adults receive long-term care at home, not in nursing homes. But few people plan for this expense.” Many seniors don’t feel that long-term care (LTC) insurance is a viable option. They think it’s expensive and is often just protection against the cost of nursing home... Continue reading
Posted 5 days ago at Family Security Law Group, APC
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The United Kingdom's Law Commission has recently recommended major changes to how courts in that country handle estate cases. In the U.S., laws about what constitutes a valid legal will have not changed very much since the Declaration of Independence. Most states still follow the old English law that a... Continue reading
Posted 7 days ago at Family Security Law Group, APC
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“Prenuptial agreements are a relatively modern concept.” More millennials are delaying the exchanging of wedding vows until later in life. They are actually waiting much longer than previous generations. However, they’re more likely to have careers, businesses and property. This makes them more protective of what they’ve built. Because of... Continue reading
Posted Sep 29, 2017 at Family Security Law Group, APC
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“Fidelity Investments reported Thursday that a 65-year-old couple retiring this year can expect an estimated $275,000 in health care and medical expenses throughout retirement.” Fidelity looks at retirees’ health care costs every year. They found that it represented a 6% increase over last year’s estimate—and an enormous 70% increase since... Continue reading
Posted Sep 29, 2017 at Family Security Law Group, APC
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“MagnifyMoney found that nearly one-third of all Americans over age 50 are carrying non-mortgage debt from month to month.” Many American seniors are taking their debt with them into retirement years. That’s according to a new MagnifyMoney analysis of data from the latest University of Michigan Retirement Research Center Health... Continue reading
Posted Sep 27, 2017 at Family Security Law Group, APC
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“A new report from GOBankingRates measures how long a million dollars would last for retirees 65 and older, state by state.” Doesn’t being a “millionaire” sound pretty good? Who wouldn’t want to have a million dollars in the bank? However, it may not be enough for those who expect to... Continue reading
Posted Sep 25, 2017 at Family Security Law Group, APC
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“Cosigning a loan would have a lot of upside to you and mostly downside to your relative. Cosigners are equally responsible for the home loan, but they aren’t typically owners of the property.” A self-employed individual wants to make a 40% down payment on a modest house. However, even though... Continue reading
Posted Sep 22, 2017 at Family Security Law Group, APC
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“No one wants to talk about their death. It is not a pleasant conversation and it is generally awkward, emotional and uncomfortable.” It’s not that uncommon to learn that a decedent made all of the arrangements for his or her own funeral: this includes selecting a casket, the burial site,... Continue reading
Posted Sep 20, 2017 at Family Security Law Group, APC
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“Elder financial exploitation has been called ‘the crime of the 21st century.’” The U.S. Senate passed bipartisan legislation to step up enforcement against perpetrators of crimes targeting senior citizens. The Elder Abuse Prevention and Protection Act of 2017 was introduced by Judiciary Committee Chairman Chuck Grassley (R-IA) and Senator Richard... Continue reading
Posted Sep 18, 2017 at Family Security Law Group, APC
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“Many Baby Boomers might not be ready for retirement, but younger workers have a chance to do better–if they make the most of their 401(k)s.” Kiplinger’s recent article, “The 7 Most Common 401(k) Mistakes to Avoid,” provides three good news/bad news retirement plan statistics. First, the Investment Company Institute reports... Continue reading
Posted Sep 15, 2017 at Family Security Law Group, APC
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“A pet can't inherit property, but you can arrange for care after your death.” You want to plan for the care of your pets, in the event you pass before they do. Many people wonder if they can leave an entire estate to a pet and what happens after the... Continue reading
Posted Sep 13, 2017 at Family Security Law Group, APC
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One of the struggles that many parents have in estate planning, is determining what it means to be fair to all of their children. It can mean different things for different families. Parents understand that being fair to all of their children does not always mean treating them all the... Continue reading
Posted Sep 11, 2017 at Family Security Law Group, APC
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“I’m single, do I need to do anything differently with my finances?” According to a recent Forbes article, “5 Financial Planning Strategies For Singles,” most of the advice on this topic isn’t very different from what’s given to married couples. Nonetheless, here are a few tips to consider, especially if... Continue reading
Posted Aug 28, 2017 at Family Security Law Group, APC
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“Elder abuse may present itself in various ways and unfortunately is on the rise.” The Carroll County Times of Westminster MD recently reported, in an article titled “Know the signs of elder abuse and report it if necessary,” that the World Health Organization (WHO) has adopted the following definition of... Continue reading
Posted Aug 25, 2017 at Family Security Law Group, APC
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“Are we in denial when it comes to care down the road?” Statistics show that most Americans are in denial about senior care and their future needs, according to HomeCare in a recent article, “5 Ways to Sort Through Long-term Care Planning.” Roughly 70% of Americans 65 and older will... Continue reading
Posted Aug 23, 2017 at Family Security Law Group, APC
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“Help to start building your grandchild's nest egg early.” In the midst of summer, teens and college students are typically working summer jobs. Kiplinger Retirement Report explains in a recent article, “Seed a Roth IRA for Your Grandkids,” that the income they earn, can give their grandparents a chance to... Continue reading
Posted Aug 21, 2017 at Family Security Law Group, APC
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“Even though you’re busy, take a moment to fill out your beneficiary forms.” Regardless of your income or net worth, there’s one estate planning task you should do right now: check the beneficiary designations for your life insurance policies, bank accounts, brokerage firm accounts, and retirement accounts. You should update... Continue reading
Posted Aug 14, 2017 at Family Security Law Group, APC
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“If you have the policy and death certificate when you file a claim, it may take as few as five business days to receive a check.” A common question in settling the affairs of a loved one, is how long it generally will take after that person dies for the... Continue reading
Posted Aug 11, 2017 at Family Security Law Group, APC
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“There can be many benefits in having a living trust, dependent on your goals and how the trust is drafted.” The two biggest reasons for choosing a living trust are for the privacy and efficiency of avoiding public probate and for the protection that can be provided to beneficiaries, like... Continue reading
Posted Aug 9, 2017 at Family Security Law Group, APC
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Away at college—kids can: get seriously ill or be in an accident If your child is over age 18, he or she is an ADULT in the eyes of the law. Accordingly, parents lose the legal power to act on behalf of their own child, unless the child has given... Continue reading
Posted Aug 8, 2017 at Family Security Law Group, APC
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“If you have the policy and death certificate when you file a claim, it may take as few as five business days to receive a check.” A common question in settling the affairs of a loved one, is how long it generally will take after that person dies for the... Continue reading
Posted Aug 8, 2017 at Family Security Law Group, APC
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“When it comes to financial planning, one of the biggest debates can be about the best plan is to use. New regulations could play into making that decision.” A recent wjbf.com post, “Advantages and disadvantages to a 401k and an IRA,” explains some of the possible advantages and disadvantages of... Continue reading
Posted Aug 4, 2017 at Family Security Law Group, APC
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“Foreign lottery scams target millions of Americans each year.” At first, you might think your prayers have been answered. A recent woodtv.com article, “88-year-old nearly scammed by fake lottery, warns others,” tells the story of an elderly couple who love their home. Unfortunately, they are running out of money and... Continue reading
Posted Aug 2, 2017 at Family Security Law Group, APC