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Rowley Law
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Usually a person feels honored and trusted when asked to be the executor of a family member’s estate. It’s a big responsibility, since the executor will be carrying out a person’s final wishes. If you are asked to be one, it is a good idea to know some of the... Continue reading
Posted 12 hours ago at Rowley Law
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“Kasem and her siblings were banned from seeing or talking to their father, Casey, in the last years of his life. He was isolated and no law prevented the abuse.” Kerri Kasem, the daughter of late Top 40 DJ Casey Kasem, recently visited the Waynesboro, VA area to speak on... Continue reading
Posted yesterday at Rowley Law
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“If your child relies on Medicaid services, how can you ensure that when you die, the money you leave them doesn't cause them to lose that vital support system? A Supplemental Needs Trust could be the answer.” Parents who have an adult child with special needs must provide him or... Continue reading
Posted yesterday at Rowley Law
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“Financial advisors often recommend annuities for retirement income—for example, to solve for "longevity risk." However, if clients or their spouses seek to qualify for Medicaid, they'd better be careful. Certain types of annuities can harm Medicaid eligibility, while others can actually be helpful.” Financial Advisor’s recent article, “Annuities Can Help... Continue reading
Posted yesterday at Rowley Law
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“On May 2, the Michigan House Appropriations Committee held its first hearing on Senate Bill 897, which would require Medicaid recipients to work 29 hours per week in order to remain on Medicaid.” The Medicaid work requirement bill was sponsored by State Senator Mike Shirkey, a Republican from Clarklake. The... Continue reading
Posted 6 days ago at Rowley Law
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“A report from the Kaufman Foundation found that baby boomers are twice as likely to plan on starting a business as millennials, and the percentage of businesses being started by Americans 55 and older is steadily increasing.” Some baby boomers are thinking about starting a business in their retirement. However,... Continue reading
Posted 7 days ago at Rowley Law
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“As life spans get longer and longer, there are now more challenges and opportunities involved with navigating transitions before and during retirement. Here's what you need to know.” A recent WTOP article asked “Are you ready for 8,000 days or more in retirement?” The article notes that the years we... Continue reading
Posted 7 days ago at Rowley Law
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“Not having a concrete plan, can make you susceptible to financial mishaps, particularly elder fraud.” Just 40% of Americans 60 years old and older have documents in place to plan for their finances and health care, if something were to happen to them. CNBC’s recent article, “These costly estate planning... Continue reading
Posted 7 days ago at Rowley Law
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“In a unanimous opinion, the Second District Court of Appeals found that FX and Ryan Murphy, the show’s creator, were protected under the First Amendment from de Havilland’s claims that the show cast her in a “false light,” used her likeness without permission and should have compensated her.” A California... Continue reading
Posted 7 days ago at Rowley Law
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“The late Alan Thicke's wife, Tanya Callau, is claiming that the actor's sons, Robin and Brennan, are spending their father's money, while holding on to her inheritance.” After Alan Thicke passed away from a ruptured aorta in 2016, his sons Robin and Brennan were named co-trustees of his estate, according... Continue reading
Posted Jun 8, 2018 at Rowley Law
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“Estate planning's goal often is to ensure your wealth improves the lives of one or more generations of your family.” Forbes recent article, “Two Key Steps to Successful Estate Planning” explains that, in many instances, the ultimate goal in estate planning is to ensure the wealth you accumulated, lasts for... Continue reading
Posted Jun 8, 2018 at Rowley Law
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“Can't find your old 401(k) or that old pension? Here is how to track your money down.” How do you find an old retirement account that hasn’t been looked at in years? In a recent article, “How To Track Down That Lost 401(k) Or Pension,” Forbes notes that Americans have... Continue reading
Posted Jun 8, 2018 at Rowley Law
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“Jason Barrett, Flagler Hospital’s President, said philanthropic efforts are critical in the health care industry, especially for not-for-profit hospitals.” When Brad and Robin Cooper started to plan their instructions for their estate, they knew they wanted to help charities that were near and dear to their hearts. One of the... Continue reading
Posted Jun 8, 2018 at Rowley Law
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“Naming a beneficiary on a retirement account and designating a person as the POD beneficiary both accomplish the very same thing.” You can designate a charity as the beneficiary of your IRA. When your pass away, the charity will receive those funds. When you die, the charity can show the... Continue reading
Posted Jun 4, 2018 at Rowley Law
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“If you're planning on relying solely on your Social Security check for retirement, you may want to reconsider. Here's why.” As you look at your financial future, procrastinating can make things much tougher down the road. Here's how to get confident about your money. USA Today’s recent article, “Financial planning:... Continue reading
Posted Jun 1, 2018 at Rowley Law
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“Let’s consider what happens with a married couple, where the first spouse to die has a relatively small estate, which doesn’t use all the estate-tax credit. What happens when the second spouse dies, and their respective estate is more than their applicable estate-tax credit?” The Tax Cuts and Jobs Act... Continue reading
Posted May 31, 2018 at Rowley Law
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“A trust is a valuable tool to leave a legacy and plan for taxes, but only if you set it up so that it works just as you intended. Unfortunately, people tend to make one very common, and basic, mistake.” A trust can be a valuable vehicle that lets you... Continue reading
Posted May 30, 2018 at Rowley Law
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“New research finds waning confidence in Social Security, as more Americans expect to work longer.” A 2018 Northwestern Mutual Planning & Progress Study has found that financial security in retirement is a key issue for many Americans. Think Advisor’s recent article,“1 in 3 Americans Have Less Than $5,000 in Retirement... Continue reading
Posted May 29, 2018 at Rowley Law
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“Establishing a conservatorship of any kind can be complicated and time consuming, especially for someone with no legal training. Most experts say it’s wise to consult an attorney.” When someone can no longer care for himself, or their estate is in disarray, a conservatorship is granted by a court to... Continue reading
Posted May 29, 2018 at Rowley Law
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“Separating financial facts from fiction, will help you budget correctly for retirement.” After spending years working, bringing in income and saving for the future, you now must spend and manage that money. It’s a big change, and requires a thoughtful approach. US News & World Report’s recent article, “7 Myths... Continue reading
Posted May 25, 2018 at Rowley Law
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“If you are taking control of a trust for your own benefit, one source of fear may simply be fear of the unknown.” WTOP’s article, “7 questions to ask when taking control of a trust,” says that while having more wealth at your disposal may give you an increased sense... Continue reading
Posted May 24, 2018 at Rowley Law
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“The recent passing of First Lady Barbara Bush has touched many Americans deeply. Affectionately known as the ‘Silver Fox,’ Bush was an advocate for both children and literacy in the United States. She was the matriarch of a family that has been at the political forefront for over 40 years.... Continue reading
Posted May 23, 2018 at Rowley Law
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“Going through the process of financial planning and estate planning, many issues come to light. In a well-executed financial plan, no stone in your personal life should be left unturned or unexamined.” Your financial and estate plans can easily become out-of-date. Your situation may have changed, since the analysis and... Continue reading
Posted May 22, 2018 at Rowley Law
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“When is the last time you updated your beneficiary designations?” Beneficiary designations have precedence over wills. Therefore, if you have accounts with assets to pass on to heirs, be sure to update them regularly. CNBC’s recent article, “Out-of-date beneficiary designations are a common and costly mistake,” says that naming beneficiaries... Continue reading
Posted May 22, 2018 at Rowley Law
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“You may be able to postpone taking your first required distribution from an IRA until the following year. However, that can trigger a bigger tax bill.” Kiplinger’s article, “When to Take Your First Required Minimum Distribution From an IRA,” explains that when you must take your Required Minimum Distribution (RMD),... Continue reading
Posted May 18, 2018 at Rowley Law