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Rowley Law
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“Preserving and managing tangible wealth in a complex and uncertain world, can undoubtedly be a challenge.” The largest intergenerational wealth transfer in recent history will happen over the next few decades. As a result, legacy planning is becoming an increasingly significant topic of conversation. Legacy planning is a chance to... Continue reading
Posted Aug 10, 2018 at Rowley Law
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“Without a plan in place, there could be a long-lasting impact on your loved ones, even if you don’t have a pricey home, large IRA or valuable art to pass on.” The average person spends more time planning a vacation or deciding what car to buy, than they do deciding... Continue reading
Posted Aug 10, 2018 at Rowley Law
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“Legislation would establish a task force to examine challenges facing senior investors and recommend regulatory, statutory changes.” The House Financial Services Committee has voted to approve the creation of an interdivisional task force at the Securities and Exchange Commission to protect senior investors. Investment News recently published “House introduces bill... Continue reading
Posted Aug 10, 2018 at Rowley Law
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“Here's a guide to understanding cost basis, after you receive inherited assets.” This year, New Jersey has eliminated the estate tax. For Class "A" beneficiaries, there’s no inheritance tax. Therefore, when Class "A" beneficiaries inherit their parents' residence and taxable accounts, is the inheritance at the stepped-up value, if it’s... Continue reading
Posted Aug 10, 2018 at Rowley Law
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“Here are five common mistakes that people make when it comes to Medicare.” Medicare can help defray many healthcare costs. However, it's very complicated to navigate. One way to simplify this is to consult with a Medicare attorney, who can help you determine whether you’re eligible for program benefits. Investopedia’s... Continue reading
Posted Aug 10, 2018 at Rowley Law
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“Lisa Marie Presley's ex-money manager paid himself an annual salary of more than $700,000 - while he was losing her $100 million fortune, Elvis's daughter claims.” The daughter of the King's former money manager gave himself a salary of more than $700,000, while he was losing her $100 million fortune,... Continue reading
Posted Aug 3, 2018 at Rowley Law
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“Through hard-nosed determination and ruthless drive, Joe Jackson molded, trained and cajoled his brood into one of the greatest show business dynasties in history.” Joe Jackson, the Jackson patriarch who died of pancreatic cancer at the age of 89, was a coach, tutor, drill sergeant and manager, which left little... Continue reading
Posted Aug 2, 2018 at Rowley Law
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“Retirees hoping to spend their golden years in an idyllic retirement community, should slow down before signing over their savings.” Continuing care retirement communities, or CCRCs, give retirees the ability to age in one spot, moving from independent living to assisted living and eventually skilled nursing care. These types of... Continue reading
Posted Aug 1, 2018 at Rowley Law
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“Many never think about the possibility of dying without a will, but this is still a legitimate question to ask. When a person dies without leaving documentation of their wishes, or makes a will which is not legally valid, everything goes out the window.” When you pass without any planning... Continue reading
Posted Jul 31, 2018 at Rowley Law
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“The information on your 401(k) beneficiary form typically supersedes what is written in your will. Therefore, it's important to keep this form up to date for all your retirement and investment accounts.” You want to make sure your 401(k) savings gets to your intended heir. US News & World Report’s... Continue reading
Posted Jul 31, 2018 at Rowley Law
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“Estate planning is an often-neglected part of financial planning, particularly among federal employees. “It’s for the rich” is an excuse I’ve heard people give for not taking the time to consider estate planning.” Many people think estate planning is just for the well-to-do. FedSmith’s article, “Estate Planning for Federal Employees,”... Continue reading
Posted Jul 27, 2018 at Rowley Law
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“You’d be surprised that many people go about the planning process the wrong way. Instead, here are three key steps to help achieve a comprehensive retirement blueprint.” Many people only focus on what’s happening inside their portfolio at this very minute. A recent Kiplinger article asks, “Is Your Retirement Plan... Continue reading
Posted Jul 26, 2018 at Rowley Law
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“According to palace insiders, Queen Elizabeth was adamant that the 36-year-old Duchess of Sussex sign a prenuptial agreement before she married Prince Harry, in order to protect his $500 million fortune.” People all over the globe watched the festivities as American actress Meghan Markle and Prince Harry said their “I... Continue reading
Posted Jul 25, 2018 at Rowley Law
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“After discovering some elder abuse cases are difficult to prosecute, a southwest Virginia community is putting new emphasis on seeking justice for victims.” The National Council on Aging found that 1 in 10 Americans over the age of 60 has experienced some type of elder abuse. One southwest Virginia community... Continue reading
Posted Jul 24, 2018 at Rowley Law
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“Here's what happens if a life insurance beneficiary doesn't want the money.” The contingent beneficiary receives the insurance proceeds of a life insurance policy, when the primary beneficiary predeceases. What if that beneficiary is alive, but refuses to collect the benefit? A recent nj.com article asks “Who would get this... Continue reading
Posted Jul 23, 2018 at Rowley Law
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“You still have enough time to significantly improve your retirement prospects, if you're willing to start taking serious steps now.” If you’re in your early 50s and have next to nothing saved for retirement, you're not alone. The Employee Benefit Research Institute found that more than a third of workers... Continue reading
Posted Jul 19, 2018 at Rowley Law
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“Your taxes in retirement may be a lot more complicated than taxes while you're working.” There are a lot of variables when you reach retirement: Social Security checks may or may not be taxed, depending on your income; you'll pay federal income taxes on most retirement plan withdrawals, but there... Continue reading
Posted Jul 18, 2018 at Rowley Law
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“A carer has ‘inserted himself’ into the Marvel Comics creator's life and is ‘isolating’ him from family, according to his lawyer.” A temporary restraining order has been issued against Stan Lee's caregiver, because of allegations of elder abuse, as Sky News reports in the article, “Stan Lee's caregiver handed restraining... Continue reading
Posted Jul 18, 2018 at Rowley Law
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“What’s the best way to go about making a living will?” Drafting a living will now is a prudent move that gives you a say in how you want to be treated at the end of your life. The (St. George UT) Spectrum’s recent article, “How to Make a Living... Continue reading
Posted Jul 18, 2018 at Rowley Law
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“Take steps to make sure you properly execute legal documents.” A durable power of attorney is a written document, whereby a person (“the principal”) can authorize or grant authority to another individual (or individuals, called the “agent” or the “attorney-in-fact”) to perform certain tasks on behalf of the principal, whether... Continue reading
Posted Jul 18, 2018 at Rowley Law
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“Even in a world of uncertainty, taxes are inevitable. The good news is there are many ways to significantly reduce the amount of taxes you owe so, you can save more for retirement.” Investopedia’s recent article, “2 Ways to Reduce Taxes and Save More for Retirement,” provides two great ways... Continue reading
Posted Jul 18, 2018 at Rowley Law
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“Premiums keep rising, but you may need a policy more than ever.” An effective way to safeguard your retirement savings from the high price of assisted living, in-home care or the cost of a stay in a nursing home is a long-term-care insurance policy. However, recent premium hikes have many... Continue reading
Posted Jul 18, 2018 at Rowley Law
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“Sudden death can have a large impact on the family finances.” The sudden deaths of fashion designer Kate Spade and chef and storyteller Anthony Bourdain are sparking discussions about mental health. They’re also a stark reminder that a sudden death can affect any family. CNBC’s article, “Sudden deaths like those... Continue reading
Posted Jul 10, 2018 at Rowley Law
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“For decades, wealth advisors would encourage investors to shift their mix of portfolio assets to more conservative investments, as retirement neared. But no more.” It used to be that the final days of a person’s financial life, were when they reached their 60s or 70s. However, today, that’s just the... Continue reading
Posted Jul 9, 2018 at Rowley Law
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“From the obvious to the highly obscure, estate-planning problems have one thing in common: They can cause huge, costly headaches for your loved ones. Here are 10 pitfalls people need to be sure to avoid.” Poor estate documents can result in people unintentionally cutting loved ones out of inheritances, paying... Continue reading
Posted Jul 3, 2018 at Rowley Law