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King & Wood, P.A.
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Working a Bit Longer Can Significantly Increase Your Standard of Living in Retirement “A new study of retirement planning reaches a surprising conclusion.” Question: Which of these has the greatest effect on your retirement standard of living? Saving an additional 1% of your salary for the 30 years prior to... Continue reading
Posted 3 days ago at King & Wood, P.A.
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How Do You Catch Up on Retirement Savings? “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... Continue reading
Posted 4 days ago at King & Wood, P.A.
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How Many Witnesses Do I Need for My Estate Planning Documents? “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... Continue reading
Posted 5 days ago at King & Wood, P.A.
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Two Ways to More Tax-Free Retirement Savings “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... Continue reading
Posted 6 days ago at King & Wood, P.A.
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Do I Need Long-Term Care? “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,... Continue reading
Posted 7 days ago at King & Wood, P.A.
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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 13, 2018 at King & Wood, P.A.
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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 12, 2018 at King & Wood, P.A.
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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 11, 2018 at King & Wood, P.A.
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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 King & Wood, P.A.
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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 King & Wood, P.A.
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“It is no secret farmers and ranchers are getting older across the West.” According to a 2016 study by Oregon State University and Portland State University, the average age of farmers and ranchers is now 60. An estimated 10 million acres of farmland will change ownership over the next 20... Continue reading
Posted Jul 6, 2018 at King & Wood, P.A.
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“Experts say there are a number of signs and symptoms of elder abuse.” According to AARP, 65.5% of Georgia’s citizens will be part of the state’s aging population by 2030. As a result, people are looking at ways to improve long-term care and to prevent elder abuse. Georgia Governor Nathan... Continue reading
Posted Jul 5, 2018 at King & Wood, P.A.
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“You might not be thinking about the practical tasks that need to be accomplished as soon as possible, but these steps are critical to safeguard an estate and ensure that it is passed down as smoothly as possible.” When a person dies, and after his or her family members have... Continue reading
Posted Jul 4, 2018 at King & Wood, P.A.
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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 King & Wood, P.A.
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“Saving for retirement is daunting. We know we should do it, we want to do it, but it can feel overwhelming figuring out where to start—especially if you’re a struggling millennial.” When you and your partner are at a certain point in your relationship, you need to get serious about... Continue reading
Posted Jul 2, 2018 at King & Wood, P.A.
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“If there is one major factor that favors later retirees, it's education.” There’s no magic formula for a prosperous retirement. However, following a few simple rules might help: save what you can, don’t spend more than your income, steer clear of debt, invest well and if you are lucky enough,... Continue reading
Posted Jun 29, 2018 at King & Wood, P.A.
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“If you’re planning for retirement, you’re probably thinking about how much you’ll need, how long the money will last and how much you can safely take out each year.” Retirees often apply simplified rules of thumb to see how much to withdraw from their savings each year. What happens is... Continue reading
Posted Jun 28, 2018 at King & Wood, P.A.
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“The decision to retire early at age 62 vs. age 65, 66 or even waiting until age 70, isn't a straightforward math equation. It can't be made in a vacuum.” Kiplinger’s recent article, “The Biggest Social Security Mistake You Can Make,” explains that the biggest Social Security mistake isn’t taking... Continue reading
Posted Jun 27, 2018 at King & Wood, P.A.
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“Mom or dad has passed away and despite your requests over the last few years for them to see a lawyer and do a will, they never did. What do you do now?” A recent Wealth Advisor article asks a very practical question you may face someday: “Your Parent Didn't... Continue reading
Posted Jun 26, 2018 at King & Wood, P.A.
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“Don't go cheap when it comes to estate planning. You—or your heirs—may regret it later.” Working with an elder law or estate planning attorney may be one of the best investments a person can make, reports nj.com in its article, “Why an estate planning attorney is worth the money.” You... Continue reading
Posted Jun 25, 2018 at King & Wood, P.A.
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We are pleased to announce that Raymond G. Mazzie has joined our firm as an associate. Ray graduated from the FSU College of Law (J.D.) and the FSU College of Business (M.B.A.) in May 2018. During his third year of law school, Ray served as a Florida Gubernatorial Fellow at... Continue reading
Posted Jun 22, 2018 at King & Wood, P.A.
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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 Jun 21, 2018 at King & Wood, P.A.
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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 Jun 20, 2018 at King & Wood, P.A.
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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 Jun 19, 2018 at King & Wood, P.A.
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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 Jun 15, 2018 at King & Wood, P.A.