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Law Offices of Francis J. Evans
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“Governor Dayton is calling on lawmakers to review a law that critics say keeps families of vulnerable adults from getting the full story about cases of abuse and neglect.” Minnesota Governor Mark Dayton has asked the state legislature to look at a law that critics say restricts the families of... Continue reading
Posted Sep 14, 2017 at Law Offices of Francis J. Evans
“The law does not require that the testator in particular perform the act of destruction to validly revoke a will.” The Georgia Supreme Court recently heard an appeal of a battle between the daughter and sister of decedent Edison Milbourne ("Edison"). In Milbourne v. Milbourne, the daughter, Janay, asked the... Continue reading
Posted Sep 13, 2017 at Law Offices of Francis J. Evans
A new law in New Jersey increases reporting requirements for long-term care workers who suspect abuse or exploitation in their facilities. However, it ‘inexplicably’ reduces the maximum fine by 90% for individuals who don't report such incidents, according to a state provider organization.” McKnight’s Senior Living recently published an article,... Continue reading
Posted Sep 12, 2017 at Law Offices of Francis J. Evans
“Between Facebook, iTunes, email and digital banking and investment accounts, most of us lead pretty active lives online. Do you have a plan for what will happen to all of your passwords and accounts, when you pass away?” It would be great if your parents would maintain a notebook with... Continue reading
Posted Sep 11, 2017 at Law Offices of Francis J. Evans
“A recent Pennsylvania Supreme Court case clarified the ability of the beneficiaries of a trust to remove a corporate trustee.” The Pennsylvania Supreme Court unanimously refused to permit the beneficiaries of an irrevocable trust to remove a trustee through the general provisions of the Pennsylvania Uniform Trust Act (UTA). In... Continue reading
Posted Sep 8, 2017 at Law Offices of Francis J. Evans
“Your buddy at work has been bragging about his investing and financial planning prowess, and you've just about had enough.” Your friend may tell you about the income strategy that he’s building for his family with no tax liability. It may be, says The Central Penn Business Journal, that he’s... Continue reading
Posted Aug 29, 2017 at Law Offices of Francis J. Evans
The late actor Philip Seymour Hoffman made one gigantic estate planning mistake that cost his family millions of dollars. Perhaps dealing with a lot of wealthy people in Hollywood or New York is what left a certain disgust in actor Philip Seymour Hoffman's mouth. He grew to despise what he... Continue reading
Posted Aug 28, 2017 at Law Offices of Francis J. Evans
“They do not consider a lurking danger in this: the sweepstakes entry forms ask for your identifying information, sometimes even including your date of birth.” Forbes recently published an article, “Sweepstakes Entries And Your Aging Parent: Know The Danger,” which told a true story about a 91-year-old, "Jenny," who loved... Continue reading
Posted Aug 25, 2017 at Law Offices of Francis J. Evans
“Retirees face a tough decision-making process when it comes to their financial assets, and they may have to take more risk than they were expecting.” There are a LOT of moving parts when it comes to transitioning into retirement. That includes plenty of key decisions—many of which don’t have easy... Continue reading
Posted Aug 24, 2017 at Law Offices of Francis J. Evans
“For most people, giving to charities is a pretty simple matter: Write a check or donate cash, goods, other assets or time.” Roughly $400 billion was donated by Americans to charitable causes last year. That’s about 2% of the U.S. gross domestic product. These donations came in many forms, like... Continue reading
Posted Aug 23, 2017 at Law Offices of Francis J. Evans
Getting a trust is only the first step to making it effective. You also need to put your assets in it. One of the most common estate planning mistakes is known as an “unfunded” trust. It happens when people have trust documents drawn up and executed, but they do not... Continue reading
Posted Aug 22, 2017 at Law Offices of Francis J. Evans
“Hawaii last week passed legislation that will provide working family caregivers with financial assistance to help pay for costs associated with caring for their elders.” NBC News explains, in the article titled “Hawaii Passes Law to Ease Responsibility of Elder Care,” that the Kupuna Caregivers Act was signed Hawaii Gov.... Continue reading
Posted Aug 7, 2017 at Law Offices of Francis J. Evans
“When was the last time that you took a look at or updated your estate planning documents?” A recent survey found that the average time between estate plan updates was about 20 years! Many people draft their first will when the kids are small and then update it when the... Continue reading
Posted Aug 4, 2017 at Law Offices of Francis J. Evans
“Do-it-yourselfers need to be careful not to trip over these common hurdles, as they craft their own last will and testament.” All experienced estate planning attorneys have seen what happens when people draft their own wills. Kiplinger’s recent article, “5 Avoidable Mistakes in the Will You Write,” says that if... Continue reading
Posted Aug 3, 2017 at Law Offices of Francis J. Evans
“As you focus on your financial life, there’s a big elephant in the room you’re probably not seeing: your parent’s financial situation.” Mic’s recent article, “You can’t afford to procrastinate on this one key money move,” says you might think you’ve got years to sort things out, but you never... Continue reading
Posted Aug 1, 2017 at Law Offices of Francis J. Evans
“Technically, the tax law imposes a gift tax on every single gift you make to someone else.” Tax planning for many of us, means minimizing the amount of income tax paid. However, the federal gift tax can be a bigger concern because of its 40% rate. Many folks don't even... Continue reading
Posted Aug 1, 2017 at Law Offices of Francis J. Evans
“It’s always a big story when top celebrities die. When they leave the scene without preparing for the proper distribution of their assets, they continue to generate embarrassing headlines as their heirs fight over money and property.” The New Haven (CT) Register’s recent article, “Even celebrities fail at estate planning,”... Continue reading
Posted Jul 28, 2017 at Law Offices of Francis J. Evans
“In the past, women tended to rely on their husbands for financial stability. These days, though, a woman has to look out for herself.” No woman wants to imagine how her life might change in the event of death or divorce. However, a third of widows lose their spouses before... Continue reading
Posted Jul 27, 2017 at Law Offices of Francis J. Evans
“More than $30 trillion in wealth will be passed on from one generation to the next over the 10 years.” The biggest wealth transfer in the history of the U.S. has started, says Delaware Online in “You've just inherited a million dollars. Now what?” Baby Boomers, who are the biggest... Continue reading
Posted Jul 26, 2017 at Law Offices of Francis J. Evans
“What must my children do to prove the houses are theirs, in order to sell them?” A widow’s will leaves everything equally to her four children. She has two homes in two different states. How will those homes get transferred legally to her children? Newsday explains this in its recent... Continue reading
Posted Jul 25, 2017 at Law Offices of Francis J. Evans
“What's a revocable trust, and how does it work?” A revocable trust or living trust can be a wonderful way to create an estate plan for you and your family. These trusts are flexible legal documents that can be modified during your lifetime. When they become irrevocable, they will protect... Continue reading
Posted Jul 24, 2017 at Law Offices of Francis J. Evans
“You're now responsible for generating your own retirement paycheck by drawing on Social Security, a pension (if you're fortunate enough to still have one) and your savings and investments.” Although it’s critical to plan in the years leading up to retirement, it doesn't mean you’re through planning once you retire.... Continue reading
Posted Jul 20, 2017 at Law Offices of Francis J. Evans
“The Arizona Supreme Court ruled Tuesday that a standard governing nursing home abuse suits was too restrictive and runs contrary to the aims of state law, reviving a suit that alleges nursing home neglect caused a patient’s death from sepsis.” The Arizona Supreme Court reversed and remanded a Pima County... Continue reading
Posted Jul 19, 2017 at Law Offices of Francis J. Evans
“Edward Albee is, of course, best known for his plays (the most famous is: “Who’s Afraid of Virginia Woolf?”). However, he was also a collector, and visitors to his Tribeca loft were often struck by the museum-like array of tribal sculptures and contemporary paintings.” Edward Albee died in his sleep... Continue reading
Posted Jul 18, 2017 at Law Offices of Francis J. Evans
We all want to leave a legacy after we’re gone, but how do you go about accomplishing such a worthy task? An article in MarketWatch, “5 ways to make a great impression after you’re dead,” says you might be surprised to learn that there’s an easy answer: your life insurance... Continue reading
Posted Jul 17, 2017 at Law Offices of Francis J. Evans