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King & Wood, P.A.
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“Many savings and investment accounts come with rules around when you can pull out your money. However, there are exceptions in which the penalty is worth the reward. There are times when you might be able to lessen the consequences.” You hear it all the time: “early withdrawal penalties apply.”... Continue reading
Posted 6 hours ago at King & Wood, P.A.
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“So, you’ve got a decently-sized nest egg building, your debts are paid off and your estate is more or less in order. You’re approaching the home stretch to retirement... Let’s not waste any more time—you’ve got money to maximize.” First, some good news: when you reach 50, you can begin... Continue reading
Posted yesterday at King & Wood, P.A.
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“According to a Gallup poll, 51% of non-retired Americans don’t think they will have enough money to live comfortably in retirement.” While half of those Americans who aren’t retired believe they don’t have enough money to retire, 78% of those in retirement say they have enough money to live comfortably.... Continue reading
Posted 2 days ago at King & Wood, P.A.
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“Many people think estate planning means deciding what happens to your things when you die. For that reason, many young families do not consider estate planning to be a priority. However, it may be one of the most important things that young parents can do!” A will or last will... Continue reading
Posted 3 days ago at King & Wood, P.A.
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“Celebrities often provide the best examples of what can go wrong with an estate plan and how you can avoid major problems. That’s why the power of attorney could be the most important document in your estate plan.” We often idolize movie stars and celebrities, but very often they can... Continue reading
Posted 4 days ago at King & Wood, P.A.
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What Will Care Cost For My Parent? “If your elderly mom or dad has a problem and suddenly cannot live on his or her own, it can be a terrible shock to everyone in the family. It can also cause big financial problems.” Hiring a caretaker in your home for... Continue reading
Posted 7 days ago at King & Wood, P.A.
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How Do I Calculate My Social Security Benefits, If I Get Married a Second Time? “The Social Security Administration uses many factors to calculate benefit amounts for beneficiaries, including marital status. For couples who have been married a long time, calculations for spousal and survivor benefits are fairly straightforward. However,... Continue reading
Posted Sep 13, 2018 at King & Wood, P.A.
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Here's a Checklist of Things College Kids Shouldn’t Leave Home Without “Here are 10 things your student shouldn't leave for college without.” College takes a lot of planning for students and their families, and there’s also a lot to worry about. nj.com has a list of 10 things that your... Continue reading
Posted Sep 12, 2018 at King & Wood, P.A.
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What’s an Employee Stock Purchase Plan? “Your employer may let you buy company stock at a discounted price through an employee stock purchase plan, or ESPP. If you choose to participate, these investments can boost your bottom line and offer tax advantages, depending on when you opt to sell your... Continue reading
Posted Sep 11, 2018 at King & Wood, P.A.
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What’s All that Stuff in Your Wallet? “One of the worst feelings is reaching for your wallet and finding it's not there. Panic ensues: Did you leave it at home? Drop it? Were you the victim of a pickpocket? Following our advice won't salve that panic, but it may lessen... Continue reading
Posted Sep 10, 2018 at King & Wood, P.A.
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“Bad advice. High fees. Trust mills. There's a lot to watch out for when you're planning for the future, including several new estate planning scams.” Death brings out the worst in people, and unscrupulous advisors prey on the elderly and their heirs with questionable legal advice, unnecessary bills and the... Continue reading
Posted Sep 7, 2018 at King & Wood, P.A.
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“More and more people are frustrated and confounded at the lack of appreciation they experience, when passing along their wealth to their children and grandchildren.” A MarketWatch article, “How to leave an inheritance that doesn’t tear your family apart,” reports that in 2007, the Boston College Center on Wealth and... Continue reading
Posted Sep 6, 2018 at King & Wood, P.A.
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“Medical expense planning is an important part of overall planning for retirement. While many elements of health insurance are based on the individual, it is important to evaluate and plan for these expenses as a couple because what happens to one person inevitably affects the couple as a whole.” HealthView... Continue reading
Posted Sep 5, 2018 at King & Wood, P.A.
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“The good news is that we are living longer. The not so good news is that more than just a few of us will experience a period where we cannot take care of ourselves.” Every now and then, even young and healthy people become suddenly incapacitated. In contrast, very old... Continue reading
Posted Sep 4, 2018 at King & Wood, P.A.
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“If you're married to a non-citizen, make sure that you understand estate planning rules.” In today’s society, it’s not uncommon for couples to meet all over the world. Sometimes, a person’s spouse is a citizen of a foreign country. A husband could be an immigrant from Mexico or Canada, who’s... Continue reading
Posted Sep 3, 2018 at King & Wood, P.A.
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“There are many ways to give assets to those for whom you wish to leave a legacy. You can leave tangible assets such as cars, houses or other belongings, or liquid assets such as cash or securities. However, the age of the person to whom you leave these assets, will... Continue reading
Posted Aug 31, 2018 at King & Wood, P.A.
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“A large portion of a Martha’s Vineyard estate formerly owned by the late Washington Post publisher Katharine Graham, is coming on the market for $39.5 million.” A trust tied to the family of the late Washington Post publisher Katharine Graham, is reportedly selling a large portion of her Martha’s Vineyard... Continue reading
Posted Aug 30, 2018 at King & Wood, P.A.
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“So, how exactly does cash value accumulate in your permanent life insurance policy? The details vary, depending on the type of policy you have and each individual life insurance company.” Cash-value life insurance, also called “permanent life insurance,” has a death benefit, as well as cash value accumulation. While variable... Continue reading
Posted Aug 29, 2018 at King & Wood, P.A.
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“ There are many choices that are available to us. We have the freedom to move anywhere we like – or nowhere at all. How should you make this huge decision?” Forbes’ recent article asks, “Where Will You Live In Retirement?” The answer? There’s no one right answer, when it... Continue reading
Posted Aug 28, 2018 at King & Wood, P.A.
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A Nashville judge has ruled that three children of the late Glen Campbell have a right to contest the validity of two wills that cut them off from any inheritance from the late singer.” Davidson County, Tennessee Probate Judge David Randy Kennedy recently held that three of Glen Campbell’s children,... Continue reading
Posted Aug 27, 2018 at King & Wood, P.A.
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“About nine in 10 women will have to go it alone, financially, at some point in their lives. When that happens, they need to be ready.” It’s common for women to be devastated by the loss of their husband or the end of their marriage. While the emotional impact of... Continue reading
Posted Aug 24, 2018 at King & Wood, P.A.
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“Rocco has dragged his feet probating the will and racked up needless expenses that are draining the already meager estate” The siblings of celebrity chef Rocco DiSpirito want to oust him as the executor of their mother’s estate. They claim that he’s made off with the rents from a Brooklyn... Continue reading
Posted Aug 23, 2018 at King & Wood, P.A.
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“’To be called dementia, the disorder must be severe enough to interfere with your daily life,’ says Constantine George Lyketsos, M.D., director of the Johns Hopkins Memory and Alzheimer’s Treatment Center in Baltimore.” The terms “dementia” and “Alzheimer’s” have been around for more than 100 years. That means people probably... Continue reading
Posted Aug 22, 2018 at King & Wood, P.A.
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“Regardless of whether or not you are subject to the estate tax, it is essential to have a current will and related documents.” A common question in estate planning is determining the appropriate time for children to have access to their inheritance. Wealth Advisor’s article asks, “When Should Children Have... Continue reading
Posted Aug 21, 2018 at King & Wood, P.A.
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“Prenuptial agreements allow individuals to protect themselves financially with a prearranged, legally binding agreement between spouses. It can designate certain current and future assets as individually owned (i.e. separate), rather than marital property that can be subject to division upon divorce.” While most couples are optimistic about their marriage, statistics... Continue reading
Posted Aug 20, 2018 at King & Wood, P.A.