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Rowley Law
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“The best approach to dealing with long-distance caregiving is to educate yourself and your family to prepare ahead of time.” It’s not uncommon for families and friends to be separated by many miles and even many time zones. Even so, at some point in their lives, parents, grandparents or a... Continue reading
Posted yesterday at Rowley Law
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“The inheritance tax is determined by the relationship between the deceased and the beneficiary…” Let’s say that you and your spouse both have life insurance policies of $500,000 on each other and have no children. Each spouse is named as the primary beneficiary on the other's policies, and the contingent... Continue reading
Posted 2 days ago at Rowley Law
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“Estate planners say people could benefit from setting up a trust, while they are alive.” Creating a trust can help assure that assets are distributed more quickly, bills are paid promptly and continuously and personal information about property and other assets remains private. The New York Times recently published an... Continue reading
Posted 3 days ago at Rowley Law
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“What do you think will be your biggest expense in retirement? Will it be the skyrocketing cost of healthcare and medical expenses? Will it be long-term care, your rent/mortgage, or food? It’s none of these!” Chances are that your biggest expense in retirement will be taxes. KSL.com discussed this issue... Continue reading
Posted 6 days ago at Rowley Law
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“Under the new tax law, families with a 529 college-savings plan can now roll that money into a tax-friendly ABLE account to help a child with a disability.” The new tax law now permits money from a 529 plan to be rolled over into an ABLE account for children who... Continue reading
Posted Apr 11, 2018 at Rowley Law
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“Since pensions can be inherited tax-free, people are increasingly looking to pass on their retirement funds to their spouses or children.” Pensions, unlike property, can be inherited tax-free. That means savers are increasingly looking to pass on their policies, according to Morningstar’s recent article, “Why Pensions are Vital to Estate... Continue reading
Posted Apr 10, 2018 at Rowley Law
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“At least three people claimed that they had a legal right to dispose of the body of cult leader Charles Manson. A court has now ruled in favor of Manson's purported grandson Jason Freeman.” NPR reported in the article “Charles Manson Grandson Wins Legal Battle Over Cult Leader's Body” that... Continue reading
Posted Apr 9, 2018 at Rowley Law
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“Most people worry about costs like healthcare and taxes, but here are four potential retirement expenses you may not have thought about.” Despite your best efforts to prepare for retirement, you have a good chance of being blindsided by some unanticipated expenses. A recent study by the Employee Benefit Research... Continue reading
Posted Apr 9, 2018 at Rowley Law
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“The gift from the estate of Dana C. Wood is the largest cash gift in the School of Engineering’s history.” The University of New Mexico School of Engineering received $3 million from the estate of an alumnus. The school said this gift will benefit students and faculty in the departments... Continue reading
Posted Apr 9, 2018 at Rowley Law
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“Neither of these provisions makes an attorney-in-fact liable for the alleged misuse of his or her principal's property solely by a third party (including by a separate agent over whom he or she has no express authority), or to affirmatively act to recover such property when stolen” In 2010, Bobbie... Continue reading
Posted Apr 4, 2018 at Rowley Law
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“Let’s talk retirement and money.” Many of us in our late 50s and early 60s, start thinking about what retirement is looking like and often it’s not a rosy picture. Therefore, we scramble and hopefully increase our retirement savings. A reverse mortgage may serve as both a retirement tool and... Continue reading
Posted Apr 3, 2018 at Rowley Law
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“Under ordinary circumstances, the Probate Code grants the personal representative the exclusive authority to bring civil actions—including a survival action—on behalf of an estate.” The South Carolina Supreme Court in Fisher v. Huckabee addressed who may bring a civil action on behalf of the estate of a deceased person, when... Continue reading
Posted Apr 2, 2018 at Rowley Law
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“Small business owners pour years of blood, sweat and tears into building their entrepreneurial livelihood, first to provide for their lives and their families during the working years, and then later to transition as a retirement asset through sale or other succession planning.” As Southcoast Today reports in the recent... Continue reading
Posted Mar 29, 2018 at Rowley Law
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“Our society will be judged on how we treat our most vulnerable, including our children and our seniors.” A San Diego County program was announced to respond to elder and dependent adult abuse. It includes model practices and responses by law enforcement, prosecutors and others. To address an increase in... Continue reading
Posted Mar 28, 2018 at Rowley Law
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“Own a business? Save more for retirement. Popular plans for the self-employed include the solo 401(k), the SEP IRA and a SIMPLE IRA.” Self-employed individuals can establish a “solo 401(k),” which is a special type of retirement plan for someone who’s self-employed or a business owner with no employees (other... Continue reading
Posted Mar 27, 2018 at Rowley Law
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“Estate planning and knowing your beneficiaries are morbid things to think about, but it's still very important to do.” Are you certain that the beneficiaries you designated to receive your assets are up-to-date? Are your assets titled correctly, and has anything changed since the last time you reviewed them? As... Continue reading
Posted Mar 26, 2018 at Rowley Law
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“If a beneficiary has a judgment or lien, it could be trouble for an inheritance.” Let’s say that a parent leaves her house to her three sons upon her death. The executor hires an attorney to have the deed retitled in the three sons' names, so they could take possession... Continue reading
Posted Mar 23, 2018 at Rowley Law
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“Adult children don’t always know their parents are planning to have them as caregiver.” MarketWatch recently published the article entitled “Not expecting to be a caregiver? You’d better check that with your parents”, noting that the caregiving expectations between parents and their children can be misaligned, leading to disaster for... Continue reading
Posted Mar 22, 2018 at Rowley Law
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“In the case before us, however, if the exercise of the power of appointment were deemed valid, the very terms of Constantine's will would place the assets of the irrevocable trust in his residuary estate, thereby subjecting them to the demands of creditors.” The Supreme Court of Rhode Island recently... Continue reading
Posted Mar 21, 2018 at Rowley Law
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“An estimated $3-billion is stolen from one million seniors each year and the problem is growing.” There’s a major warning from the Attorney General and other authorities about scamming seniors, according to cbslocal.com’s recent article entitled “Law Enforcement Has A Major Warning For The Nation’s Elderly” One Texas woman who... Continue reading
Posted Mar 20, 2018 at Rowley Law
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“A business can live on beyond an owner's involvement, provided there is careful and continuous planning before the entity passes hands.” Estate planning can help to minimize estate taxes and equally distribute wealth. Hotel Management recently published an article entitled “How to handle estate planning for continued business growth” that... Continue reading
Posted Mar 19, 2018 at Rowley Law
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“A Las Vegas police lieutenant, a guardian and two other people were indicted Wednesday on various theft and elderly-exploitation charges, after a joint investigation by the state attorney general and Clark County district attorney.” A police officer, who has been with the Las Vegas Metropolitan Police Department since March 1994,... Continue reading
Posted Mar 16, 2018 at Rowley Law
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“An elderly Houston woman says an on-line coin seller, based in New York, took advantage of her loneliness to sell her $1.3 million in gold and silver coins at inflated prices.” Seventy-two-year-old Patricia Thomas recently sued the National Collector's Mint in federal court in Houston, claiming that one of its... Continue reading
Posted Mar 16, 2018 at Rowley Law
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“The adult children of entertainment legends Casey Kasem, Mickey Rooney and Glen Campbell tried Tuesday to convince Michigan legislators to pass a law, they say would protect aging parents by ensuring visitation rights for their loved ones.” Kerri Kasem, Kelly Rooney, and Travis Campbell were recently joined by other supporters,... Continue reading
Posted Mar 16, 2018 at Rowley Law
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“When we think of retirement, we often imagine ourselves exploring the globe and taking advantage of the seemingly limitless amount of free time we suddenly have on our hands.” Many people see retirement as the ideal time to travel, with all their work-related time constraints gone. However, because most seniors... Continue reading
Posted Mar 16, 2018 at Rowley Law