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Gregorek and Associates, PLLC
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“While the House was busy passing its defense spending bill last week, other members of Congress were introducing other legislation aimed at helping veterans.” radio.com’s article “Congress introduces bills to increase veteran benefits, refund home loan fees, help women veterans,” lists all of the legislation that’s been introduced in Congress... Continue reading
Posted 45 minutes ago at RJG Legal
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“When you use a life estate, how does it work? What are the restrictions and who pays the property taxes and other expenses for the home?” Life estates are used for a number of estate planning purposes. However, the most frequent strategy is to use a life estate where a... Continue reading
Posted yesterday at RJG Legal
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Asset protection and incentive planning with trusts for your children can provide them with lifelong benefits. Continue reading
Posted yesterday 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 Mar 8, 2019 at RJG Legal
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“Relying on a decades-old inheritance law, the state’s highest court has ruled that spouses are entitled to one-third of their deceased spouse’s estate—when they are not mentioned in the spouse’s will.” The Massachusetts Supreme Judicial Court recently unanimously ruled for the second wife of a man who demanded her share... Continue reading
Posted Mar 8, 2019 at RJG Legal
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“Many American workers plan to rely on Social Security benefits as a steady source of income in retirement. If you are not on top of things, you are at risk for not using the right claiming strategy. If that happens, you could leave thousands of dollars on the table over... Continue reading
Posted Mar 7, 2019 at RJG Legal
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“Surprisingly, the words "Long-Term Care (LTC) Insurance" mean different things to different people.” Some people confuse Long-Term Care (LTC) with Long-Term Disability Insurance. The disability insurance coverage is designed to replace earned income in the event of a disability. Others think that LTC is a type of medical insurance. nj.com’s... Continue reading
Posted Mar 7, 2019 at RJG Legal
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“Despite the importance of having a will, a recent survey from AARP found that two out of five Americans over the age of 45 do not have one.” Drafting a will is an essential component of estate planning. Drafting a will with an experienced estate planning attorney helps avoid unnecessary... Continue reading
Posted Mar 6, 2019 at RJG Legal
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“The choices she made were out of greed, not because she didn’t understand the ethical obligations of being a guardian.” Several people described their personal grief, and they read letters from several others who lost thousands of dollars and expensive heirlooms that would never be replaced, because a guardian stole... Continue reading
Posted Mar 6, 2019 at RJG Legal
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“While roughly 90% of Americans agree that discussing end-of-life care with their loved ones is important, only 27% actually follow through with conversations focused on planning, according to research from public engagement initiative The Conversation Project.” Although many have ramped up community outreach efforts, the dread of thinking about death... Continue reading
Posted Mar 5, 2019 at RJG Legal
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“The Hawaii attorney general opposed a change that a 92-year-old Native Hawaiian princess has made to her trust, to ensure her wife receives $40 million and all her personal property.” Attorney General Russell Suzuki claimed in a court filing that 92-year-old Native Hawaiian princess Abigail Kawananakoa's amendment to her trust... Continue reading
Posted Mar 5, 2019 at RJG Legal
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“While most estate planning focuses on physical property, like your home, and liquid assets, such as investment accounts, retirement plans can actually make up a large portion of one’s estate. Due to the specific tax rules governing these assets at death, you must plan carefully to ensure these funds are... Continue reading
Posted Mar 4, 2019 at RJG Legal
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“Will your debt continue to haunt you from beyond the grave? Find out what exactly happens to debt when you die, while you still owe.” Did you know that we’re dying in this country with an average of $62,000 in debt? What happens to that debt? Fox Business recently published... Continue reading
Posted Mar 4, 2019 at RJG Legal
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“The elderly are often seen as easy targets for criminals and unscrupulous scammers alike.” The (Lorain OH) Morning Journal’s recent article, “How to protect elder loved ones from abuse,” reports that the National Center on Elder Abuse says the 2010 census showed the largest number and proportion of people are... Continue reading
Posted Mar 1, 2019 at RJG Legal
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“Medicaid will look back five years, to see if there should be a penalty period.” Say that an investment house in New Jersey worth $300,000 is passed from mother to daughter for sale of $1 today. Just two years later, the mother applies for Medicaid. There’s a look-back penalty period... Continue reading
Posted Mar 1, 2019 at RJG Legal
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“O’Hara used a steady stream of his mother’s income from Social Security and other investments ‘to pay for personal expenses, including cell phone plans, credit card payments, youth soccer fees and entertainment,’ the indictment said.” For nearly four years, John Jerome O’Hara took charge of his mother’s care at a... Continue reading
Posted Feb 28, 2019 at RJG Legal
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“Welcoming a child is an incredibly exciting time in your life. As you prepare for your new addition, it can be challenging to know where to start financially. Prince William Living’s recent article, “Baby on the Way? Here’s How You Can Prepare Financially,” says that as you plan to welcome... Continue reading
Posted Feb 28, 2019 at RJG Legal
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“You're never too young or too old, too rich or too poor to start estate planning.” Fox 5 NY says in the article “Why estate planning is important regardless of your age or wealth” that this is great time to begin talking to your loved ones about estate planning, especially... Continue reading
Posted Feb 27, 2019 at RJG Legal
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“Take up the challenge and get on track for financial independence.” Whether you’re 30 or 39, retirement will come up fast. Many people are surprised when they see how much they need to put away to keep their current standard of living in retirement. Once you decide when you want... Continue reading
Posted Feb 27, 2019 at RJG Legal
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“As Seattle’s senior population rises, elder abuse is increasingly becoming an issue on city officials and caretakers’ radars. Advocates throughout the nation are calling on states to increase public awareness of elder abuse and for courts to respond to the epidemic.” Research from the New England Center for Investigative Reporting... Continue reading
Posted Feb 26, 2019 at RJG Legal
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“Decipher the fine print when caring for a loved one.” The financial aspects of caring for an aging loved one can frequently be a gray area. It can be hard to predict upcoming health-related expenses and estimate how much assistance will be needed. However, the costs of caregiving tend to... Continue reading
Posted Feb 26, 2019 at RJG Legal
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“Company benefits are great to have, but if you're a contractor, chances are that you're out of luck. If you get injured or are too sick to work, you could quickly find yourself in hot water. However, those self-employment taxes you’re paying, come with a federal benefit ready to act... Continue reading
Posted Feb 25, 2019 at RJG Legal
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“67% of individuals over age 50 want to use their wealth to invest in their children and grandchildren.” One thing driving Baby Boomers crazy is their kids’ estate planning–or lack thereof. Boomers have been building legacies from the day they were born. As Forbes explains in its recent article “The... Continue reading
Posted Feb 25, 2019 at RJG Legal
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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 Feb 22, 2019 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 Feb 22, 2019 at RJG Legal