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Rowley Law
Recent Activity
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"People don't know when they will die, and don't know what the rules will be [when they do], so they would be less inclined to change their estate plans." There are many reasons that motivate charitable giving. They include a moral obligation, religious tithing, a desire to improve the world,... Continue reading
Posted 8 hours ago at Rowley Law
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“Domestic partners receive certain rights, when it comes in inheritance taxes in New Jersey.” New Jersey is one of the few states that still imposes an inheritance tax. In that state, the inheritance tax isn’t based on the size of the estate. It depends on who receives the estate, says... Continue reading
Posted yesterday at Rowley Law
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“Governor Dayton is calling on lawmakers to review a law that critics say keeps families of vulnerable adults from getting the full story about cases of abuse and neglect.” Minnesota Governor Mark Dayton has asked the state legislature to look at a law that critics say restricts the families of... Continue reading
Posted 4 days ago at Rowley Law
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“The law does not require that the testator in particular perform the act of destruction to validly revoke a will.” The Georgia Supreme Court recently heard an appeal of a battle between the daughter and sister of decedent Edison Milbourne ("Edison"). In Milbourne v. Milbourne, the daughter, Janay, asked the... Continue reading
Posted 5 days ago at Rowley Law
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“Trusts can be helpful for individuals at any income level and are much more common than most people realize.” There’s a misconception that trusts are just for the uber rich. This is not so. If you've ever listed your spouse or child as a beneficiary on a bank account, in... Continue reading
Posted 6 days ago at Rowley Law
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“When a loved one has special needs, you can’t just assume that everything will work itself out upon your passing or becoming disabled.” Do you have a family member with special needs? If yes, then leaving your estate without proper planning can mean serious consequences for that loved one. The... Continue reading
Posted 6 days ago at Rowley Law
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“Every adult should have a will, and everyone who owns a farm, ranch, or other business should have an estate plan in place.” We all know that a death in the family creates stress, anxiety, tensions and even some drama. Some decisions need to be on the spot without consideration... Continue reading
Posted 6 days ago at Rowley Law
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“It is not always an easy subject to discuss, but estate and farm succession planning is important for everyone to look at.” Farmers need to have the right legal documents in place to ensure that the ownership of their assets pass to the next generation, as desired. It can even... Continue reading
Posted 6 days ago at Rowley Law
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“Our bodies are naturally programmed to warn us to avoid or control a dangerous threat (flight or fight instinct). There’s a reason why swimming with sharks just isn’t that popular.” No one likes to think about death. In fact, we all try to do the opposite for as long as... Continue reading
Posted 6 days ago at Rowley Law
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“Do-it-yourselfers need to be careful not to trip over these common hurdles, as they craft their own last will and testament.” All experienced estate planning attorneys have seen what happens when people draft their own wills. Kiplinger’s recent article, “5 Avoidable Mistakes in the Will You Write,” says that if... Continue reading
Posted 6 days ago at Rowley Law
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“As you focus on your financial life, there’s a big elephant in the room you’re probably not seeing: your parent’s financial situation.” Mic’s recent article, “You can’t afford to procrastinate on this one key money move,” says you might think you’ve got years to sort things out, but you never... Continue reading
Posted 6 days ago at Rowley Law
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“Penalties for cheating the elderly have gotten tougher in Tennessee.” A new law recently went into effect stating that those convicted of financial exploitation against senior citizens will face more jail time and higher fines. This is just one of several updates to the state's laws protecting the elderly in... Continue reading
Posted 6 days ago at Rowley Law
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“Technically, the tax law imposes a gift tax on every single gift you make to someone else.” Tax planning for many of us, means minimizing the amount of income tax paid. However, the federal gift tax can be a bigger concern because of its 40% rate. Many folks don't even... Continue reading
Posted 6 days ago at Rowley Law
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“Most financial abuse of the elderly is committed by people close to the person, typically family, friends or caregivers.” The Los Angeles Times’ recent article, “To help elderly dad hold off mooching adult kids, call in the experts,” describes a common situation where an adult child is trying to protect... Continue reading
Posted 6 days ago at Rowley Law
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“Beneficiaries generally receive death benefits free of federal income tax, but what about the federal estate tax?” Having sufficient life and disability insurance should be a core element of your personal financial plan. If you play your cards right and do some advance planning, you can collect life and disability... Continue reading
Posted 6 days ago at Rowley Law
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“Your buddy at work has been bragging about his investing and financial planning prowess, and you've just about had enough.” Your friend may tell you about the income strategy that he’s building for his family with no tax liability. It may be, says The Central Penn Business Journal, that he’s... Continue reading
Posted 6 days ago at Rowley Law
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“Sooner or later, you’re going to need a will.” If you are older than 18, it’s time to start thinking about what would happen in a worst-case scenario. You need to create a last will and testament. It’s a binding document that outlines how you want your assets distributed when... Continue reading
Posted 6 days ago at Rowley Law
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“Once owners see that the two processes share the same goals, they can appreciate how to leverage the time and money they spend developing their exit plans into the design of their estate plans.” The recent article from Wilmington Insights titled “Which Comes First - Estate Planning Or Exit Planning?”... Continue reading
Posted 6 days ago at Rowley Law
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The late actor Philip Seymour Hoffman made one gigantic estate planning mistake that cost his family millions of dollars. Perhaps dealing with a lot of wealthy people in Hollywood or New York is what left a certain disgust in actor Philip Seymour Hoffman's mouth. He grew to despise what he... Continue reading
Posted 6 days ago at Rowley Law
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“Edward Albee died last fall. However, the renowned playwright is making one last request from the great beyond.” Albee asked two friends to destroy any incomplete manuscripts he left behind, says The New York Times in “Edward Albee’s Final Wish: Destroy My Unfinished Work.” These instructions were included in Albee’s... Continue reading
Posted 6 days ago at Rowley Law
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“Unfortunately, you can't bank on the traditional idea that your tax bill will go down in retirement. Therefore, get a plan in place now.” When people think about the biggest threats to their retirement plans, they often say outliving their wealth, health insurance costs, nursing home expenses and needing to... Continue reading
Posted 6 days ago at Rowley Law
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“Just because you’re retiring single doesn’t mean financial planning isn’t important. In fact, because planning for retirement is solely on your shoulders, having a comprehensive financial plan is critical to help you maximize your independence in retirement.” Conversations about financial planning are often positioned in the context of how married... Continue reading
Posted 6 days ago at Rowley Law
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“Hawaii last week passed legislation that will provide working family caregivers with financial assistance to help pay for costs associated with caring for their elders.” NBC News explains, in the article titled “Hawaii Passes Law to Ease Responsibility of Elder Care,” that the Kupuna Caregivers Act was signed Hawaii Gov.... Continue reading
Posted 6 days ago at Rowley Law
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“When was the last time that you took a look at or updated your estate planning documents?” A recent survey found that the average time between estate plan updates was about 20 years! Many people draft their first will when the kids are small and then update it when the... Continue reading
Posted 6 days ago at Rowley Law
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“More beneficiaries, who are considered high earners, will be hit with steeper fees.” Here’s some unwelcome news: retirees with higher incomes who’ve been hit with premium surcharges for Medicare Part B and Part D may have another hit coming in 2018. That’s because the income thresholds for the highest surcharge... Continue reading
Posted 6 days ago at Rowley Law