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Family Security Law Group, APC
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“Solving the retirement puzzle can require using investments for liquidity and growth, insurance products for income and principal protection and possibly alternative investments for diversification. That requires a plan.” Kiplinger’s recent article, “Plot a Smoother Retirement Journey with a Written Income Plan,” explains that Social Security is expected to play... Continue reading
Posted yesterday at Family Security Law Group, APC
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“A will is a public document. Once the probate process begins—which is what happens when you use a will as an estate planning device—anyone can view it.” Comedian Jerry Lewis died last month of heart failure at the age of 91. He left behind a wife, six children from a... Continue reading
Posted 2 days ago at Family Security Law Group, APC
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“If you have concerns about a will challenge, the first thing that you should do is talk to the attorney.” The Northwest Indiana Times says in its recent article, “Choosing an executor,” that will challenges are pretty rare. A successful contest can stem from an issue with the will making... Continue reading
Posted 3 days ago at Family Security Law Group, APC
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“Choosing a trustee for your living trust, seems like it wouldn’t be that difficult. Most living trusts (also called revocable trusts and sometimes called grantor trusts) will name the person or people who set them up as the initial trustees.” The (Riverside CA) Press-Enterprise explains in its recent article, “Women... Continue reading
Posted 6 days ago at Family Security Law Group, APC
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“For reverse mortgage specialists looking to build a referral network, local elder law attorneys can be a smart resource.” Elder law attorneys work with seniors and their families to plan for long-term care needs. In many instances, this includes assisting with their future housing options. Reverse Mortgage Daily’s recent article,... Continue reading
Posted Oct 30, 2017 at Family Security Law Group, APC
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“Lawyers for the Whitney Houston Estate are still attempting settle an $11 million IRS demand. But did Uncle Sam completely miscalculate the royalties?” Pop singer Whitney Houston was a legend in the music business. She sold millions of records before her death in 2012. In fact, she’s still selling records... Continue reading
Posted Oct 27, 2017 at Family Security Law Group, APC
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“Your family and friends are important, and the transfer of wealth after you pass can be greatly simplified with an expert on your side.” Are you a tax law expert? Tax law is one of the most complicated legal fields in the discipline. It really should be left to the... Continue reading
Posted Oct 24, 2017 at Family Security Law Group, APC
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“Smart moves to strategize your financing and keep costs in line.” The average person’s savings and Social Security income won’t be enough to pay for assisted living. As a result, individuals will combine those assets with long-term-care insurance benefits, home-sale proceeds and contributions from family members to cover the costs.... Continue reading
Posted Oct 23, 2017 at Family Security Law Group, APC
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“Wells Fargo Investment Institute has advice for millennials, as they start to take a leading role in shaping the U.S. economy: start saving.” The Wells Fargo Investment Institute's generational research report found that 41% of Americans between the ages of 17 and 35 have yet to begin saving for retirement.... Continue reading
Posted Oct 20, 2017 at Family Security Law Group, APC
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“If you are a survivor, it is normal to feel confused and overwhelmed. Assuming that you know you are the executor of the will, then the pressure can be much greater.” Even when a person who passes away spent a lot of time getting their affairs in order, there can... Continue reading
Posted Oct 18, 2017 at 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 Oct 17, 2017 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 Oct 16, 2017 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 Oct 13, 2017 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 Oct 11, 2017 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