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Simmons & Schiavo, LLP
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If you are getting married, then you need to create an estate plan or update the one that you already have. When you decide to get married, you normally are focused on all the good times you expect to have with your future spouse. You might think about the trips... Continue reading
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When you first signed up for a retirement account, you might not have thought about all the details that were presented to you. This is especially true, if you were given retirement account forms along with a large stack of other papers by a human resources person when you started... Continue reading
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Estate planning and retirement planning are not separate things. If they are done properly, you will do both at the same time. People often think of retirement planning as saving for their own financial needs, when they are no longer working. They also think of estate planning as something different,... Continue reading
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Most of the time, estate planning is not just about a deceased person's estate. It is also about elder law options. A long time ago, only wealthy people had estate plans prepared and the early estate planning options evolved to reflect their needs. They needed wills and trusts to pass... Continue reading
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Americans hold a lot of wealth in IRAs. However, do you know the tax consequences? Forbes recently discussed some possibilities for beneficiaries of IRAs, including the good deals and the bad deals in "What To Do If You Inherit an IRA." While inheriting an IRA account can be great news... Continue reading
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Governing ran a recent story about how states will pay for in-home care for their residents who are elders. As Demand for At-Home Care Grows, States Debate How to Pay for It considers that aging Boomers may not want to reside in nursing homes and if they stay at home,... Continue reading
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We received this testimonial from a satisfied client: “I wholeheartedly recommend Attorney Marco Schiavo. Attorney Schiavo recently created an elderly care plan for my Mom and did an amazing job. We were initially overwhelmed and confused by all the different options, but Attorney Schiavo explained each one in detail and... Continue reading
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This key position determines if the estate is handled well. An executor needs to be chosen carefully, according to the Wills, Trusts & Estates Prof Blog in "Selecting an Executor for Your Estate." While there are others who will have a hand in determining how the estate administration goes, the... Continue reading
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It isn’t just money and clothes on the list, when leaving home for that freshman year in college. Parents want what is best for their children. There are a few things that should be done before a child goes off to college, according to the Wills, Trusts & Estates Prof... Continue reading
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No matter who you are and what you do for a living, if you can read this, then you need a general durable power of attorney. Think for a moment about everything you routinely do to make sure that all of your finances are in order. You pay many kinds... Continue reading
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If you are the parent of a recent high school graduate, then you should consider getting your child an estate plan. Continue reading
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When a person passes away owing debts, it is important that creditors follow the proper procedures to make their claims against the estate. Most types of debt do not die with the debtor. If there are any assets in the estate, then the estate is responsible to pay those debts.... Continue reading
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No matter who you are, how much money you have, or any other factor, estate planning is something you should do. Everyone who has ever worked in an estate planning attorney's office, has experienced the following scenario at least once. It is likely they have experienced it dozens and even... Continue reading
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Many think there's no real way to prevent Alzheimer's, but writer and neuroscientist Lisa Genova is hopeful. She says certain behaviors can reduce our risk or even slow the disease after diagnosis. Watch the TED video here: Reference: Cognitive Impairment, (July 28, 2017) Current Affairs, Dementia/Alzheimer’s, Health Care/Long Term Care,... Continue reading
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We received this testimonial from a satisfied client: “I was referred to Marco by my lender, at a time where I experienced a major life change-my divorce - and Marco was incredibly patient and thorough. He does an excellent job of explaining all of the options available. What is more,... Continue reading
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Estate and capital gains taxes can be avoided. Wall Street has an enhanced life insurance method that benefits wealthy people and is becoming increasingly popular, according to Barron's in "New-ish Tax Planning Instrument Gathering Billions." Life insurance is a popular estate planning tool used as a relatively simple way to... Continue reading
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If you want your wealth to last and be available for future generations of your family, then you need to make sure that your heirs are ready to handle the responsibility of maintaining your wealth. The ability to manage and preserve a large amount of wealth is not something most... Continue reading
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Last year, the State of California enacted a controversial new law that allows doctors to prescribe medicine to terminally ill patients that will let patients decide when to end their lives. The state has recently issued its first report on how the law is being used. Elder law advocates have... Continue reading
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Repeal of the Affordable Care Act has been one the biggest news items in recent weeks. Changes to Medicaid in Republican proposals have received a lot of attention, but many people do not know exactly what Medicaid does. You probably know that Medicaid is the federal government program that provides... Continue reading
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The new fiduciary rule for financial advisers has caused a lot of confusion about what is and is not allowed with retirement accounts. On June 9, a controversial new Department of Labor rule went into effect. The rule seems simple enough. Financial advisors who give investment advice to consumers about... Continue reading
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One of the biggest questions in estate planning today, is whether a trust is the best option for your family. If you were to conduct a representative poll of middle class Americans about the best way to plan for your estate, it is almost certain that the majority of respondents... Continue reading
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Even though a vote over the Senate's bill to repeal Obamacare (Affordable Care Act) has been delayed, it is important to know whether or not it cuts Medicaid. The answer depends on how you look at it. Very little in government is ever straightforward. One example is the Senate Republican... Continue reading
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Early signs indicate that Social Security benefits could see a dramatic increase next year. That will be welcome news for seniors whose benefits have lagged far behind their buying power. Every year the Social Security benefits that millions of senior citizens receive on a monthly basis are supposed to increase... Continue reading
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Senate Republicans are planning to hold a vote on their version of repealing Obamacare by the end of June. No one knows yet what their bill contains. Republicans in Congress are moving forward with their plans to repeal the Affordable Care Act. The House of Representatives previously passed a bill... Continue reading
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There are two schools of thought for parents to wrestle with, when deciding how large of an inheritance they should leave for their children. In a typical American family, the expectation has always been that when the parents pass away, everything they have left will be inherited by their children.... Continue reading