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Gregorek and Associates, PLLC
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“Young adults need estate plans too. It’s an entreaty all too often met with a shrug of the shoulders and a wave of the hand. At that age, we think we’re immortal. However, the uncomfortable truth is that no one knows how much time is left.” A year ago, 58... Continue reading
Posted yesterday at RJG Legal
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“People who reside in nursing homes are in a vulnerable position, since they are in need of near-constant assistance–not just with medical and health problems, but also, often, for daily living activities. Federal and state laws exist to safeguard nursing home residents’ care. However, your ability to protect yourself or... Continue reading
Posted yesterday at RJG Legal
“How can you possibly know how much money you will need for retirement, if you don't know what you will be doing?” Forbes’ article, “The One Piece Missing From Most Retirement Plans” says there’s just one small piece that many people don't think about when crafting their retirement plan. Any... Continue reading
Posted 2 days ago at RJG Legal
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“ Should I get life insurance?” There are two basic kinds of life insurance: term and permanent. Term insurance can be used for paying for the things you would need (or want) to finance, were you to die during the next 20 to 30 years. Permanent insurance (such as whole... Continue reading
Posted 2 days ago at RJG Legal
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“Americans are drawn to celebrities. We read about their lives, gossip about their deeds and ogle their pictures. Perhaps it is admiration of glamour, fascination with royalty or learning their tricks of the trade. However, celebrities often make the same mistakes as us “commoners.” Let’s use their stories as lessons... Continue reading
Posted 2 days ago at RJG Legal
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“Learn the basics of the government health programs that insure millions of Americans.” A big difference between Medicaid and Medicare is that Medicare beneficiaries are usually seniors, and Medicaid beneficiaries are people in low to moderate income households, says U.S. News & World Report in the article “Medicare vs. Medicaid.”... Continue reading
Posted 3 days ago at RJG Legal
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“According to a report from UBS Global Wealth Management, 56% of married women leave control of major financial planning and investing decisions to their spouses.” Divorce can be a very difficult time and a big change for most people. However, women, in particular, often realize that they’re impacted most by... Continue reading
Posted 3 days ago at RJG Legal
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“After someone dies, there's a lot to do in order to deal with finances and making sure that no one steals the dead person's identity.” When a senior passes away, there are frequently questions about the type of benefits from Social Security that are available to her husband (especially when... Continue reading
Posted 4 days ago at RJG Legal
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“When it comes to implementing an estate plan, the word irrevocable is commonly part of the conversation. While it may sound scary to do anything irrevocable, in estate planning there are several instances where it may make sense.” The Patriot Ledger’s recent article, “Sometimes irrevocable is good,” explains that the... Continue reading
Posted 4 days ago at RJG Legal
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“One of Prince's many nicknames was The Purple One. It was reportedly his favorite color, and after the success of Purple Rain, its use defined his image and his legacy.” Prince’s Estate is set to claim ownership over the use of "the color purple" in films and live and recorded... Continue reading
Posted 5 days ago at RJG Legal
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“Make note of two important dates after inheriting an IRA: Dec. 31, when required minimum distributions must be taken by, and Sept. 30 of the year after death.” U.S. News & World Report’s recent article, “What Day of the Dead Can Teach Us About Inherited IRAs,” says that understanding all... Continue reading
Posted 5 days ago at RJG Legal
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“A 403(b) plan is a type of tax-sheltered retirement plan that has a lot in common with the more widely recognized 401(k) plan.” A 403(b) plan is for employees who work in organizations that serve certain religious, charitable, scientific, public safety testing, literary or educational purposes. If you’re eligible to... Continue reading
Posted Feb 15, 2019 at RJG Legal
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“Dementia is an umbrella term used to describe diseases associated with memory loss, like Alzheimer's disease. There are several things that are commonly known to lead to it, such as high blood pressure or a traumatic brain injury. However, as fairly recent research has found, there are also some pretty... Continue reading
Posted Feb 15, 2019 at RJG Legal
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“Buying a beach house can bring an excellent return on investment (ROI), a reliable income stream and access to a delightful vacation spot.” There are many beach house investors, who purchase homes they will rent out during peak tourism times. A Florida beach house owner might open her home to... Continue reading
Posted Feb 15, 2019 at RJG Legal
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“Be careful what papers you sign, if you bring a sick spouse for medical care.” When a person passes away, his or her spouse may be responsible for some of the decedent’s outstanding medical bills. Generally, there are some items that a spouse might be required to pay, and others... Continue reading
Posted Feb 14, 2019 at RJG Legal
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“You may want to see if any of these five common reasons for establishing a special needs trust apply to your family.” WTOP’s recent article, “5 reasons to consider a special needs trust,” explains that a special needs trust (also called a supplemental needs trust) is created to hold and... Continue reading
Posted Feb 14, 2019 at RJG Legal
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“It is often very difficult to qualify for Medicaid. However, the following steps can help determine if you are eligible and improve your odds of obtaining coverage.” If you’re in need of long-term care and can’t afford to pay for either the actual care you need or any insurance or... Continue reading
Posted Feb 13, 2019 at RJG Legal
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“It’s a common issue as investors live longer and hold portfolios amassed over a lifetime.” Experts say that children need to approach financial discussions with their parents with a soft touch. Everyone slows down as they age, and it can be catastrophic for seniors who choose overly risky holdings, forget... Continue reading
Posted Feb 13, 2019 at RJG Legal
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An involuntary transfer of an LLC membership interest is just that—a transfer prompted by a creditor action or the occurrence of a triggering event outside of the member’s control. An individual or entity obtaining a membership interest as a result of an involuntary transfer usually cannot fully step into the... Continue reading
Posted Jan 23, 2019 at RJG Legal
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An LLC affords its members a certain amount of personal asset protection. Part of this protection hinges on the restricted transferability of LLC membership interests. Restricted transferability protects the non-transferring members from creditors and unwelcome new members, which upholds the integrity and value of the non-transferring members’ membership interests. Most... Continue reading
Posted Jan 22, 2019 at RJG Legal
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Say you are a member of an LLC. You own membership interests in the LLC. But what if you want to leave the LLC? What if you get a divorce? What if you have creditors seeking immediate repayment? What can you do with your membership interests? The answer depends on... Continue reading
Posted Jan 21, 2019 at RJG Legal
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The LLC is a popular way to structure a business because it provides personal liability protection to the members-- like a corporation does to its shareholders--but without as many administrative formalities. But if you’re an LLC member, don’t let this lull you into complacency. As a business owner, you’re responsible... Continue reading
Posted Jan 18, 2019 at RJG Legal
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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 Jan 18, 2019 at RJG Legal
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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 Jan 17, 2019 at RJG Legal
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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 Jan 17, 2019 at RJG Legal