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Family Security Law Group, APC
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“Smart estate planning, therefore, includes addressing how to handle digital assets.” It seems that every day we conduct more of our daily activities online. We increasingly all have a digital presence on our PCs and the Internet. To complete your estate planning, you need to consider how to deal with... Continue reading
Posted Oct 30, 2019 at Family Security Law Group, APC
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“Deciding whether to leave an inheritance for your children impacts the amount you save, the retirement plans you choose and how you take qualified retirement plan distributions. However, beyond your desire to leave some wealth to your children (or not), there are some essential personal financial issues to consider.” Some... Continue reading
Posted Oct 29, 2019 at Family Security Law Group, APC
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“What is an ABLE account and who is eligible?” Millions of Americans with disabilities and their families depend on public benefits to help provide income, health care, food and housing assistance. Eligibility for assistance through Supplemental Security Income, SNAP and Medicaid is based upon a resource test, so disabled individuals... Continue reading
Posted Oct 28, 2019 at Family Security Law Group, APC
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“You probably give to others each year, such as for birthdays and Christmas gifts. Gifting can be done for other reasons, including during life or as bequests at death. The reasons for doing so could be to accomplish nontax or tax goals.” There are several non-tax advantages of making lifetime... Continue reading
Posted Oct 25, 2019 at Family Security Law Group, APC
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“New legislation that aims to give workers greater opportunities to save for retirement, may put the kibosh on a strategy for passing large individual retirement accounts to heirs.” Congress’ House Ways and Means Committee has passed a bill known as the Secure Act. This bill would require employers with a... Continue reading
Posted Oct 24, 2019 at Family Security Law Group, APC
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“You may be surprised at how easy it is to make an expensive mistake with your beneficiary designations.” Many people don’t understand that their will doesn’t control who inherits all of their assets when they pass away. Some of a person’s assets pass by beneficiary designation. That’s accomplished by completing... Continue reading
Posted Oct 23, 2019 at Family Security Law Group, APC
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“Middle-income earners are more focused on planning their funerals than arranging for long-term care, a new study found.” More than 10,000 people turn 65 in the U.S. every day. Almost 70% of people retiring today will need some type of long-term care during their lifetimes, according to the Department of... Continue reading
Posted Oct 22, 2019 at Family Security Law Group, APC
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“The executor is responsible for finding a buyer and doing all that is necessary to get the best price possible.” It’s not uncommon for the surviving parent to leave the family home to her children. At the parent’s death, questions often arise concerning how long the children have before they... Continue reading
Posted Oct 4, 2019 at Family Security Law Group, APC
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“People who bother about estate planning, often have a tendency to collect interesting and often valuable items, from art and antiques, watches to jewelry, to firearms and baseball cards to numismatic or bullion coins.” Forbes’ recent article, “Astute Estate Planning For Art, Antiques And Valuable Collectibles,” says that personal property... Continue reading
Posted Oct 3, 2019 at Family Security Law Group, APC
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“Credit cards, a car loan, a mortgage—whatever debt you’re carrying around, doesn’t just disappear when you die.” When you die, your debts do not. Your executor will be required to pay them using your assets. That means that any unpaid debt can reduce the wealth you’ve left behind for your... Continue reading
Posted Oct 2, 2019 at Family Security Law Group, APC
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“Estate planning for a child with special needs can be challenging.” Estate planning is important for everyone, but it’s even more crucial for a family with a child who has special needs. It’s difficult to create an estate plan for children with special needs, because you don’t know what type... Continue reading
Posted Oct 1, 2019 at Family Security Law Group, APC
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“Most of us would like to be remembered for who we were, not what we had. If you have any assets that you’ve accumulated during your lifetime that you plan to leave behind, it’s on you to figure out who gets what.” What and how you leave your wealth can... Continue reading
Posted Sep 30, 2019 at Family Security Law Group, APC
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“A new law requiring credit bureaus to offer you free freezes applies to children, too. It’s easier than you’d expect, but you may still have questions. Here are some answers.” You can now freeze your child’s credit files for free, and it isn’t that hard to do, says The New... Continue reading
Posted Sep 27, 2019 at Family Security Law Group, APC
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“Your estate plan isn't finished just because your attorney has drawn up a will. Proper asset titling is the next step.” Even if your financial life is pretty simple, you should have a will. However, there’s more work to be done. Assets must be properly titled, so that assets are... Continue reading
Posted Sep 20, 2019 at Family Security Law Group, APC
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“Do I file 2018 tax returns for my father? He passed away in October 2018.” Generally, when someone passes away, the final individual federal and state tax return must be prepared and filed in the same way as when they were alive, says nj.com, in the recent article, “What tax... Continue reading
Posted Sep 19, 2019 at Family Security Law Group, APC
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“A few simple steps now, will greatly ease many of the transitions you are likely to face in the coming years.” What can you do to make sure your mother’s financial affairs are in proper order? The Monterey Herald’s recent article, “Financial planning: Making sure Mom is taken care of,”... Continue reading
Posted Sep 18, 2019 at Family Security Law Group, APC
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“For the second consecutive year, family conflict was identified as the leading threat to estate planning.” A recent survey conducted by TD Wealth at the 53rd Annual Heckerling Institute on Estate Planning found that nearly half (46%) of respondents said that family conflict was the biggest threat to estate planning... Continue reading
Posted Sep 17, 2019 at Family Security Law Group, APC
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“Not everyone is cut out to make key decisions when a loved one can't.” Next Avenue’s article, “Saying ‘No’ to Power of Attorney Duty,” says that not everyone’s cut out to be a power of attorney (POA)., There are many reasons children and others may need to say no when... Continue reading
Posted Sep 16, 2019 at Family Security Law Group, APC
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“This is a sad reminder that families who don’t agree on end-of-life measures can cause friction and additional grief, at a time when unity should be a primary concern.” It’s not that uncommon for a senior to injure himself in the regular course of living at home as he ages.... Continue reading
Posted Sep 13, 2019 at Family Security Law Group, APC
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“There are many types of taxes to consider in connection with an estate: estate tax, inheritance tax and income tax.” After the last surviving parent passes away, the estate may sell the family home. The proceeds are then divided up, pursuant to the directions set out in the will or... Continue reading
Posted Sep 12, 2019 at Family Security Law Group, APC
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“Legal experts say estate planning doesn't have to be complicated or costly.” When a parent dies somewhat unexpectedly, adult children may be overcome by grief. However, they then may become overwhelmed by frustration. It’s almost too difficult to mourn right now—because the family can be too busy trying to take... Continue reading
Posted Sep 11, 2019 at Family Security Law Group, APC
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“Try to work things out with the executor, before you take the next steps in a dispute over an estate.” It’s not uncommon for a senior to let her adult children know about her life insurance policies. In many cases, it’s because that child or all of her children are... Continue reading
Posted Sep 10, 2019 at Family Security Law Group, APC
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“Life insurance may play a vital role in an estate plan, because insurance proceeds can be counted on to provide liquidity when it’s needed. With proper planning, insurance money can pay expenses, such as the estate tax and keep other assets intact.” Let’s say that Howie passes away and leaves... Continue reading
Posted Sep 9, 2019 at Family Security Law Group, APC
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“After years of hard work, you are certainly entitled to a happy retirement. You may have already started daydreaming about it, at least a little. Will you travel the world, volunteer for your favorite charity, go fishing every day, or just spend more time with the grandkids? The post-retirement possibilities... Continue reading
Posted Sep 5, 2019 at Family Security Law Group, APC
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“As life happens and things change—and as you pass big milestones like getting married, having children or retiring—your estate plan and will should change too.” When a person hits the age of 18, they should at least have powers of attorney to designate who will make their healthcare decisions and... Continue reading
Posted Sep 4, 2019 at Family Security Law Group, APC