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Procino-Wells & Woodland, llc
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“Not only does creating an estate plan force you to confront your own mortality, but it also forces you to decide who gets your assets, whether all heirs should be treated equally and who will play the key roles in settling your estate.” If estate planning were just about some... Continue reading
Posted Nov 29, 2018 at Procino-Wells & Woodland, llc
“Historically, the purpose of a power of attorney is to select an agent (and ideally, successor agents) to act, in case you need assistance.” Naming a trusted individual, whether a family member or a friend, to be your power of attorney is a significant decision. That person has the power... Continue reading
Posted Nov 27, 2018 at Procino-Wells & Woodland, llc
“You have reviewed multiple drafts of your Will, Trust, Living Will and Financial Power of Attorney, attended multiple meetings with your attorney, discussed the final distribution of your assets, selected your Executor and Trustee and finally executed your estate planning documents. So, you must be done, right?” Putting your estate... Continue reading
Posted Nov 15, 2018 at Procino-Wells & Woodland, llc
“In March 2018, the U.S. Census Bureau reported that by 2030, all baby boomers will be over the age of 65, leading to a unique situation in demographics: 20% of U.S. residents will be at retirement age.” Part of the increase in the number of people who live long enough... Continue reading
Posted Nov 13, 2018 at Procino-Wells & Woodland, llc
“Many of us have experienced the unexpected "telephone call" from a hospital or loved one that a sudden negative medical event has occurred, involving a member of your family.” It’s never a good thing, when you get a call and the person on the other end asks if you are... Continue reading
Posted Oct 18, 2018 at Procino-Wells & Woodland, llc
“Though retirement can be a fulfilling time in people's lives, it can also be a stressful one. This especially holds true, if you fall victim to the following mistakes, so be sure to avoid them at all costs.” Most people spend their entire working lives dreaming of retirement. However, when... Continue reading
Posted Oct 16, 2018 at Procino-Wells & Woodland, llc
“Although we typically associate the term “estate” with the ultra-wealthy, estate planning is not just for the rich. Everyone, regardless of family dynamics or financial status, can benefit from having an estate plan—a collection of documents that specify how you want your assets distributed.” Estate planning has a purpose while... Continue reading
Posted Oct 9, 2018 at Procino-Wells & Woodland, llc
“If you're part of a married couple, it's highly likely that one of you will become a widow or widower at some point.” If it’s any comfort, there are now some 20 million widows and widowers in America, according to a study from Merrill Lynch and Age Wave that focuses... Continue reading
Posted Oct 7, 2018 at Procino-Wells & Woodland, llc
“Do not buy into the myth that estate planning is only relevant for wealthy individuals who need tax planning.” One of an estate planning attorney’s main responsibilities is ensuring that clients understand the importance of addressing these matters before they become an issue, reports the New Jersey Herald in the... Continue reading
Posted Sep 27, 2018 at Procino-Wells & Woodland, llc
“Everyone needs a will, but, increasingly, estate planners say people also could benefit from setting up a trust while they are alive. That step would help assure that their assets are distributed more quickly, their bills paid promptly and continuously, and personal information about property and other assets are kept... Continue reading
Posted Sep 25, 2018 at Procino-Wells & Woodland, llc
“When my husband and I were in our 20s, we didn’t have what anyone would consider an ‘estate.’ We lived paycheck to paycheck and had a mortgage on a small house. We did, however, have two priceless assets that provided good reasons for us to make a will—our children.” No... Continue reading
Posted Sep 20, 2018 at Procino-Wells & Woodland, llc
“Aretha Franklin's death is going to cause some headaches for her heirs.” The Queen of Soul did not have an estate plan, a will or a trust when she died from pancreatic cancer recently, according to news reports. That’s especially surprising, said Investment News in the article “Aretha Franklin estate... Continue reading
Posted Sep 18, 2018 at Procino-Wells & Woodland, llc
“Choosing an assisted living facility can be frightening prospect for anyone. However, the fear can be greater for people with no kids to help them through the process.” When you don’t have kids or close family members, making decisions about an assisted living facility can be lonely and daunting, often... Continue reading
Posted Sep 14, 2018 at Procino-Wells & Woodland, llc
“Four types of expenses can wreak havoc with your retirement.” Retirement is a balance between enjoying your golden years, taking good care of your health and balancing your finances, so you don’t run out of income too early. However, as reported by MD Magazine in the recent article “Four Big... Continue reading
Posted Sep 13, 2018 at Procino-Wells & Woodland, llc
“The goal: to see if researchers can monitor and detect health changes in older adults and enable them to live longer in their own homes. For example, early signs of cognitive decline may be detected through changes in computer use or driving.” A research assistant tested and placed sensors in... Continue reading
Posted Sep 5, 2018 at Procino-Wells & Woodland, llc
“Searching for a lawyer who can help you put together a good estate plan, may seem like a daunting task. However, with a little help, you should be able to find several qualified lawyers to choose from.” Finding an estate planning attorney who can help you create an estate plan... Continue reading
Posted Aug 31, 2018 at Procino-Wells & Woodland, llc
“It's difficult to determine exactly how much to save for retirement. Some people pick a round number, such as saving 10% or 15% of their salary, while others use an external cue, such as the amount of money that will be matched by an employer.” Are you saving enough for... Continue reading
Posted Aug 29, 2018 at Procino-Wells & Woodland, llc
“People are storing important documents, such as wills and medical directives, online. While convenient, there are a few things to keep in mind before you open another online account, experts say.” There are some clear benefits to storing your will and documents online. You and your spouse (or other authorized... Continue reading
Posted Aug 23, 2018 at Procino-Wells & Woodland, llc
While you’re refining your estate plan to live through your senior years, don’t forget about final arrangements. For most folks, postponing thinking about their funeral is the status quo, until someone close to them dies or until they have a health scare. Worse, according to The North Platte Telegraph’s article,... Continue reading
Posted Aug 21, 2018 at Procino-Wells & Woodland, llc
“Many seniors may be more focused on their bucket lists, than worrying about having their financial affairs in order.” Seniors should be having some heart-to-heart discussions with their spouses and loved ones about their wishes concerning their assets and their final days, according to Intermountain Catholic in “Retirees Have Several... Continue reading
Posted Aug 16, 2018 at Procino-Wells & Woodland, llc
“In the coming decades, baby boomers in the U.S. are expected to transfer an estimated $30 trillion in assets to subsequent generations. For many families in Minnesota, that will include the family cabin.” One of the key markers of summer in many areas is crowded roads, as folks head out... Continue reading
Posted Aug 14, 2018 at Procino-Wells & Woodland, llc
“The process of estate planning is only more painful, if one spouse has already passed. In this situation, a surviving elderly parent may enlist the assistance of their adult children to manage and divvy up finances.” Having adult children actively involved with their mother or father, when the other spouse... Continue reading
Posted Aug 10, 2018 at Procino-Wells & Woodland, llc
“Since last year, the NAHB has seen a 30 percent increase in the number of its members seeking special training to help older clients who want to stay in their homes for as long as possible. Remodeling a house, is just one way to make that happen.” The ultimate goal... Continue reading
Posted Aug 7, 2018 at Procino-Wells & Woodland, llc
Many people assume that Revocable Living Trusts are just for wealthy people. However, the benefits that they can offer to someone with even minimal wealth are significant. One of the more common questions for estate planning attorneys is asked and addressed in an article from, “Will or Revocable Living... Continue reading
Posted Aug 1, 2018 at Procino-Wells & Woodland, llc
“The succession-planning process is complex and lengthy. To keep your eye on the ball and meet your goals, your family must meet regularly to foster good communication and trust.” The future for a farm family depends on family meetings that involve all stakeholders. The likelihood of success is bolstered by... Continue reading
Posted Jul 31, 2018 at Procino-Wells & Woodland, llc