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Patinelli & Chang, LLP
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“A new national poll shows that many people over age 50 haven’t taken key steps to protect their health and well-being in case of severe weather, long-term power outages, or other situations.” With hurricanes, tropical storms and wildfires becoming routine events, data from the National Poll on Health Aging suggest... Continue reading
Posted 5 days ago at Patinelli & Chang, LLP
What is the size of the average retirement nest egg? It depends on what you mean by ‘average.’" It’s the question we all wonder about, but not very many of us will come out and ask. A 2019 analysis of more than 30 million retirement accounts by Fidelity Investments found... Continue reading
Posted Nov 4, 2019 at Patinelli & Chang, LLP
“The fantasy of being your own boss and filling your days as you wish is a powerful one. However, if you’re not careful, you could spend those golden years trying to earn more or pinching every penny.” There are just about as many ways to ruin your retirement, as there... Continue reading
Posted Oct 28, 2019 at Patinelli & Chang, LLP
“Contemplation of retirement can be both exciting and intimidating. Obviously, planning for the beginning of retirement should start early.” While you may be thinking about retirement for a long time, with visions of tropical beaches or grand trips overseas, when the date starts to get closer, it’s time for some... Continue reading
Posted Sep 27, 2019 at Patinelli & Chang, LLP
“While it’s not something many people think about until faced with the issue, obtaining a credit report for a deceased person is important. You may need to make sure the credit report is accurate and take stock of any creditors you need to notify of the death or see if... Continue reading
Posted Sep 26, 2019 at Patinelli & Chang, LLP
“During retirement or before, you probably did all the financial planning along with the legal paperwork. Have you also thought about personal choices as you age and the options ahead?” If you don’t have a personal plan for yourself, you may wish you had given it some thought, if you... Continue reading
Posted Sep 25, 2019 at Patinelli & Chang, LLP
“For couples over 50, living together has a lot of appeal and is on the rise. In fact, the number of unmarried couples who are 50+ shot up 75% between 2007 and 2016, according to the U.S. Census Bureau.” One reason for the popularity of living together without marriage, is... Continue reading
Posted Sep 24, 2019 at Patinelli & Chang, LLP
“Talking about illness, death and taxes is not most people’s idea of a good time (except for us estate planners). That being said, there are times in life when it’s time to move updating your estate plan off the ‘to do’ list and on to the ‘done’ list. Here are... Continue reading
Posted Sep 23, 2019 at Patinelli & Chang, LLP
“Your will may be the most important document you’ll ever write. The problem is, after many of us draft one, we put it somewhere for safekeeping and don’t look at it again. That can be a big mistake.” Lives change, and laws change. People come and go in our lives,... Continue reading
Posted Sep 20, 2019 at Patinelli & Chang, LLP
“A No Contest clause is a paragraph that can be included in a Last Will and Testament or a Trust, which makes it clear that anyone who challenges the validity of the document or the way it distributes or manages the assets of the estate will receive less than what... Continue reading
Posted Sep 19, 2019 at Patinelli & Chang, LLP
“Although most people would not want a court proceeding on death, many people mistakenly think that a will avoids one.” A Will, also known as Last Will and Testament, is a legal document that is used in probate court, if a person dies with assets that are in their name... Continue reading
Posted Sep 18, 2019 at Patinelli & Chang, LLP
“The durable power of attorney is one of the most effective and important planning tools for medical care and estate planning, since it enables a person (the principal) to delegate certain powers to another (the agent) by means of a written legal document.” Without a durable power of attorney, helping... Continue reading
Posted Sep 17, 2019 at Patinelli & Chang, LLP
“Most of us have heard the quote from Benjamin Franklin, ‘In this world, nothing is certain except death and taxes.’” No one actually enjoys paying taxes, and few of us really want to think about our own death, but both require advance planning and careful consideration, advises Ohio’s Country Journal... Continue reading
Posted Sep 16, 2019 at Patinelli & Chang, LLP
“Everyone knows what a will is. However, do you know the importance of having one? What does this document mean and what are the reasons why you should prepare a will? What happens to your money and property, if you don’t have one?” These questions presented by The Westerly Sun... Continue reading
Posted Sep 13, 2019 at Patinelli & Chang, LLP
“You should go to an estate planning attorney to sort things out and make sure both of you are on the same page about who owns what, who gets to stay where and for how long into the future.” Here’s a scenario that happens often. A man receives an inheritance,... Continue reading
Posted Sep 12, 2019 at Patinelli & Chang, LLP
“The best way to ensure that they know and understand your wishes, is to take a copy of your advanced healthcare directive or living will with you to your next check up and talk to your physician about it, then ask them to keep the copy on file.” Everyone needs... Continue reading
Posted Sep 11, 2019 at Patinelli & Chang, LLP
“Roth IRAs are powerful and flexible financial planning tools. They are also complex. As a result, many people aren't familiar with all aspects of a Roth IRA.” There is a lot that most people don’t know about Roth IRAs, as detailed in the article “9 Surprising Facts About Roth IRAs”... Continue reading
Posted Sep 10, 2019 at Patinelli & Chang, LLP
“Particularly if you’re 65 or older, you may have recently been asked by your financial advisor, custodian or brokerage firm, if you would like to add a trusted contact person to your account.” Dramatically increased instances of elder financial abuse are behind a new question asked of seniors by their... Continue reading
Posted Sep 9, 2019 at Patinelli & Chang, LLP
“A No Contest clause is mostly what it sounds like. It is a paragraph that can be included in a Last Will and Testament or a trust, which basically states that anyone who challenges the validity of the document or the way it distributes or manages the assets of the... Continue reading
Posted Sep 6, 2019 at Patinelli & Chang, LLP
“In their trust they leave each other their share upon death and then I would be trustee when my last parent dies. I’m really concerned about this whole deal.” A son has contacted an elder law estate planning attorney now that mom is in a nursing home and he’s unsure... Continue reading
Posted Sep 5, 2019 at Patinelli & Chang, LLP
“Retirement coach Sara Zeff Geber visited several Northern California assisted living facilities to interview ‘solo agers’—people, either single or coupled, who don’t have children to help them as they grow older.” She was a bit surprised, when she couldn’t find any. She then realized that it’s the adult children who... Continue reading
Posted Sep 4, 2019 at Patinelli & Chang, LLP
“Sometimes the persons involved either die simultaneously, i.e., too close in time to determine clearly who survived the other or die very close in time to each other.” There are any number of ways a person can inherit assets from another person. They may inherit assets from a trust, through... Continue reading
Posted Sep 3, 2019 at Patinelli & Chang, LLP
“The first thing to realize is that as soon as you marry, your spouse is granted certain inheritance rights under law. However, these rights of inheritance can be waived or modified by using an anti-nuptial agreement, or as its more commonly known, a pre-nuptial agreement.” It’s always a good idea... Continue reading
Posted Aug 30, 2019 at Patinelli & Chang, LLP
“As people approach the age of 60, many of them start thinking about how and when to access their Social Security benefits. The basic rule is that you can start to receive Social Security as early as age 62 or you can delay taking benefits until age 70.” If it... Continue reading
Posted Aug 29, 2019 at Patinelli & Chang, LLP
“We plan for so many transitions in life: births, graduations, weddings, retirement and moves. We want these transitions to go smoothly and be as comfortable and easy as possible.” Planning for the end-of-life transition is something most people still avoid as a difficult topic. It’s true: for many people this... Continue reading
Posted Aug 28, 2019 at Patinelli & Chang, LLP