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schlagellongllc
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“A few years ago, researchers at the Johns Hopkins University School of Medicine gave us yet another reason to worry about getting Alzheimer’s disease and other dementias: They demonstrated an association between hearing loss and cognitive decline.” If it seems like every day brings something new to worry about, take... Continue reading
Posted 6 hours ago at Johnson County Estate Planning
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“When it comes to your money, be careful who you listen to. Taking advice from an uninformed person can cost you dearly.” We call it “the brother-in-law” effect. Most families have a brother-in-law who likes to think he knows everything, and he’s more than happy to share his wealth of... Continue reading
Posted 3 days ago at Johnson County Estate Planning
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“Chances are you have one or more charitable causes that you support on an annual basis. It is also likely that you have failed to make any provision for charity whatsoever on your death.” Americans are a generous people, giving of our time and resources, through donations and volunteering. However,... Continue reading
Posted 4 days ago at Johnson County Estate Planning
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“Perhaps one of the most difficult conversations you'll have as an adult child, is talking about end of life preparations with your parent. For many seniors, this conversation is as hard as the one about having to move to a full-time care facility.” An aging parent’s health can fail suddenly,... Continue reading
Posted 5 days ago at Johnson County Estate Planning
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“If you’ve ever spent time working through your estate plan with a professional, you know how important it is to select and update your beneficiaries. Failing to do so can result in costly mistakes—for you and your loved ones.” Here’s one way to mess up your estate plan: naming beneficiaries... Continue reading
Posted 6 days ago at Johnson County Estate Planning
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“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 7 days ago at Johnson County Estate Planning
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“When you create a living trust, you also sign a pour-over will. One of the main benefits of a trust is avoiding a court proceeding on death called probate, which is when wills are used.” If the goal of estate planning is to avoid probate, it seems counterintuitive that one... Continue reading
Posted Nov 1, 2019 at Johnson County Estate Planning
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“We all have witnessed how children have a difficult time understanding why one sibling was treated differently. To overcome this, parents will make the well-intentioned mistake that fair and equal are the same.” What may work fine when you are raising children does not always work in estate planning, as... Continue reading
Posted Nov 1, 2019 at Johnson County Estate Planning
“Three handwritten documents, dated between 2010 and 2014, were found in Aretha Franklin’s Michigan home in recent months, including one in a spiral notebook found under her couch cushions.” The Queen of Soul’s lack of a properly executed estate plan, isn’t the first time a celebrity died without a will,... Continue reading
Posted Nov 1, 2019 at Johnson County Estate Planning
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“As our children with disabilities grow older, and we ourselves grow older, the future can seem daunting. The future can be overwhelming.” Taking steps to plan for the future, when loving parents will not be there to help their disabled child as they age, is a hard thing to confront.... Continue reading
Posted Nov 1, 2019 at Johnson County Estate Planning
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“Sometimes it can be wise (or just pleasurable) to give your assets away, while you're still alive.” Traditionally, giving assets away while still living was done in an effort to minimize tax liability at death. However, with the federal tax exemption amount at $11.4 million and growing each year with... Continue reading
Posted Nov 1, 2019 at Johnson County Estate Planning
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“Estate planning sounds like you need to be of nobility and own country estates before it applies to you. However, estate planning only means that you are making a plan for when you pass away or are no longer able to make good decisions for yourself.” If you switch the... Continue reading
Posted Nov 1, 2019 at Johnson County Estate Planning
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“Every adult should have a will in order to determine property distribution after death. However, a will is limited in what it can do. Too often, a will cannot accomplish what you need or even expect it to do.” A last will and testament is an important part of an... Continue reading
Posted Nov 1, 2019 at Johnson County Estate Planning
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“To ensure animals’ well-being, you should pick a caregiver and set up paperwork, funding.” Currently, 67% of American households own at least one pet, and many people now consider long-term planning for them just as important as they would for two-legged family members, says The Atlanta Journal Constitution in the... Continue reading
Posted Nov 1, 2019 at Johnson County Estate Planning
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It will most likely be difficult or impossible to complete the tasks, if all the facts are not available. When you go to visit an elder law estate planning attorney, it is important to tell the truth about all aspects of your family members and other potential heirs. If not,... Continue reading
Posted Jun 21, 2019 at Johnson County Estate Planning
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A will can prevent a tough situation from occurring. There is a type of estate scenario that is described in the My San Antonio article, “Using power of attorney in daughter’s estate,” that demonstrates the importance of having a will, no matter how old you are. The challenge is untangling... Continue reading
Posted Jun 20, 2019 at Johnson County Estate Planning
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Claiming to be from Social Security may give scammers a better chance of getting your assets. Federal authorities say they have seen a number of scammers move away from claiming to be IRS agents to claiming to be from Social Security, according to The New York Times in “Latest Rash... Continue reading
Posted Jun 19, 2019 at Johnson County Estate Planning
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A “cost of care” survey reveals high annual expenditures for care. People are often unaware of the fact that health insurance and Medicare will pay little, if any, of the costs of long-term care, according to the New Hampshire Business Review in “The dilemma of long-term care.” Some families may... Continue reading
Posted Jun 18, 2019 at Johnson County Estate Planning
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There are reasons for a will to be contested and one is the mental capacity of the client. The best way to avoid a will contest, is to have a well-written will prepared by a qualified estate planning attorney, who can help avoid legal contests. It is also important the... Continue reading
Posted Jun 17, 2019 at Johnson County Estate Planning
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More than 5.7 million people in this country are suffering from the disease. More and more members of families are experiencing the dilemma of expressing their wishes, before they become incapacitated from Alzheimer’s Disease, according to USA Today in “B. Smith’s Alzheimer’s raises question: How to protect your wishes when... Continue reading
Posted Mar 1, 2019 at Johnson County Estate Planning
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If the legal documents aren’t signed and notarized properly, there is a good chance that problems will arise. A properly prepared will could have avoid many of the problems faced by a woman who thought she was protected, according to News 2 in “The power of a will and trouble... Continue reading
Posted Feb 28, 2019 at Johnson County Estate Planning
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Trusts have been around for a very long time and it is important to understand how they work. A trust can be quite complicated. That is why you need good legal representation in order to use one properly, according to the Pittsburgh Post-Gazette “Do I need a trust?” Trusts are... Continue reading
Posted Feb 27, 2019 at Johnson County Estate Planning
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With the traditional family on a downward trend, the modern family is raising some new questions for estate planning. The rising numbers of modern and blended families have created some challenges for estate planning, according to Forbes in “How Long Will Stepmom Live? And Other Vexing Estate Planning Questions for... Continue reading
Posted Feb 27, 2019 at Johnson County Estate Planning
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Giving for the tax break or to better your community? Or Both? Some people donate to charities primarily for the tax breaks, so the U.S. Tax Cuts and Jobs act may cause them to review their charitable giving, says Barron’s Penta in “How to Leave Assets—With an Immediate Tax Write-Off.”... Continue reading
Posted Feb 27, 2019 at Johnson County Estate Planning
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Retirement accounts usually have the largest impact. However, there are also other income streams. One of the surprises that can catch you unaware, is that taxes during the working years are usually much simpler than taxes during retirement, according to The News Tribune in “Implement an efficient tax strategy to... Continue reading
Posted Feb 1, 2019 at Johnson County Estate Planning