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Family Security Law Group, APC
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“No matter what line of work you are in, estate planning has facets that apply to everyone, and it comes down to documenting wishes and avoiding probate and unnecessary taxes. Too many people put it off, but, in general, the sooner you do it, the better.” It’s always the right... Continue reading
Posted Aug 8, 2019 at Family Security Law Group, APC
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“Young adults can often feel like they’re immortal, but nobody really knows how long they’ve got left, and that’s why estate planning is key at any age.” Those in their 20s and 30s are strongly encouraged to create an estate plan. A lot can be accomplished in a few simple... Continue reading
Posted Aug 7, 2019 at Family Security Law Group, APC
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“Trouble is brewing around the estate of Aretha Franklin, where police are investigating possible theft of her assets and an ex-husband is angling for money.” Aretha Franklin, known as “The Queen of Soul,” died of pancreatic cancer in August of 2018 in her Detroit riverfront apartment at age 76. Franklin... Continue reading
Posted Jul 17, 2019 at Family Security Law Group, APC
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“The ugly public legal battle over Sumner Redstone's estate plans has come to an end, as a Los Angeles judge on Wednesday ruled the 95-year-old mogul had the mental capacity necessary to amend his trust in 2015 and 2016.” The decision on TV mogul Sumner Redstone's estate plans, follows the... Continue reading
Posted Jul 16, 2019 at Family Security Law Group, APC
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“Connecticut State Police investigating the suspicious death of All That Remains guitarist Oli Herbert have examined a will signed by the Longmeadow native a week before his death.” All That Remains guitarist Oli Herbert signed a will at a Hartford, Connecticut car dealership on October 9, 2018. The will was... Continue reading
Posted Jul 15, 2019 at Family Security Law Group, APC
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“According to a recent study commissioned by Bankers Life Center for a Secure Retirement, middle-income boomers have lowered their overall expectation for financial independence in retirement, since the onset of the financial crisis in 2007. Ten years later, fewer boomers expect they will retire debt free (34 percent today, down... Continue reading
Posted Jul 12, 2019 at Family Security Law Group, APC
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“We all know our days are numbered and there is nothing that we can do to prevent it.” Many of us recently watched the funeral of former President George H. W. Bush. There must have been considerable planning done ahead of time to make sure everything ran as smoothly as... Continue reading
Posted Jul 11, 2019 at Family Security Law Group, APC
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“Instead of focusing on risks that we are aware of, we should be turning our focus to risks that we are oblivious to, Walter Updegrave writes in TIME.” How can you navigate towards a successful retirement? It’s simple, says Wealth Advisor in the recent article, “The Three Risks To Prepare... Continue reading
Posted Jul 10, 2019 at Family Security Law Group, APC
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“After taking inventory of your possessions, including your home, vehicle, stocks, life insurance policies, etc., there are many steps you will need to take to protect these assets -- and yourself. There are many steps and documents that advisors will suggest you put into place immediately for your protection.” Many... Continue reading
Posted Jun 24, 2019 at Family Security Law Group, APC
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“Here are five things you should be doing for success, as you enter the retirement red zone.” Investopedia’s recent article, “5 Things to Do 10 Years from Retirement,” explains that there's a red zone both in football and retirement planning. In many instances, that zone is where the game is... Continue reading
Posted Jun 23, 2019 at Family Security Law Group, APC
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“Three handwritten wills have been found in one of the homes of the late Queen of Soul Aretha Franklin, all with a theme of providing for her four sons and even commentary involving others she felt were insincere or ‘grossly inefficient,’ according to the documents.” Legendary vocalist Aretha Franklin passed... Continue reading
Posted Jun 23, 2019 at Family Security Law Group, APC
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“Some people have life insurance policies that have long-term care riders that allow them to access up to the death benefit for long-term care needs. These might be able to be sold through a life settlement.” There is a market to sell life insurance through what is known as a... Continue reading
Posted Jun 22, 2019 at Family Security Law Group, APC
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“Georgia is fifth in the country for elder fraud in total losses, an online publication, Comparitech, reported this month.” The four states that have higher losses than Georgia are California, Florida, Texas, and Arizona. Georgia’s losses in 2018 totaled $1.5 billion, according to The Augusta (GA) Chronicle’s recent article, “$1.5... Continue reading
Posted Jun 21, 2019 at Family Security Law Group, APC
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“For single parents with a minor child, the stakes are perhaps even higher.” Every estate planning conversation eventually comes to center upon the children, regardless of whether they’re still young or adults. Talk to a qualified estate planning attorney and let him or her know your overall perspective about your... Continue reading
Posted Jun 21, 2019 at Family Security Law Group, APC
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“Sometimes people confuse the estate tax with an income tax, but it is not a tax on income. It is a transfer tax imposed on the wealthy at death.” The federal estate tax is sometimes called the death tax. It’s a one-time tax that is imposed at death. Forbes’ recent... Continue reading
Posted Jun 20, 2019 at Family Security Law Group, APC
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“The days after a loved one dies are terrible for making smart financial decisions.” It’s fairly typical for the grief and stress of losing a loved one to cloud a person’s judgment. You may not be thinking clearly, and you want to do everything you can to honor the person... Continue reading
Posted Aug 27, 2018 at Family Security Law Group, APC
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“Medicaid utilizes a five-year lookback to determine if you gave assets away within five years of your application for benefits. Transferring the home could make you ineligible for a period of time.” It’s not uncommon for a senior who’s a widow or widower to want to help his or her... Continue reading
Posted Aug 24, 2018 at Family Security Law Group, APC
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“The idea of planning a funeral is generally not at the top of anyone's "to do" list. It's a job that almost always falls to the spouse, children, or close friend of a deceased. Expressing your preferences or actually making the formal arrangements can truly be a gift to your... Continue reading
Posted Aug 22, 2018 at Family Security Law Group, APC
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“With wealth for millennials set to double in the next 20 years, it’s time to get over the awkwardness and have the conversation now.” When is a good time to discuss your inheritance, taxes, and estate planning with your parents? How about never! However, by the same token, screaming at... Continue reading
Posted Aug 21, 2018 at Family Security Law Group, APC
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Long-term care (LTC) refers to a broad range of services that assist those with chronic conditions, such as cognitive impairment or a need of help to perform the essential activities of daily life (ADLs), such as dressing, bathing, eating, transferring in/out of a bed or chair, continence and toileting. A... Continue reading
Posted Jun 20, 2018 at Family Security Law Group, APC
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“In all different cases — will contests, trust contests, life-estate challenges, probate objections, elder financial abuse, deed revocations or joint-tenancy quarrels — the interests and paths of stepmothers and stepchildren often collide.” It’s not uncommon for conflicts to arise in estate matters between stepmothers and stepchildren, as tensions in blended... Continue reading
Posted Jun 18, 2018 at Family Security Law Group, APC
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“Inherited IRAs and 401(k)s can be a great vehicle for passing assets from these accounts to non-spousal beneficiaries.” Inherited individual retirement accounts have been a common way to let non-spousal beneficiaries inherit an IRA account and allow the account to continue to grow on a tax-deferred basis in the future.... Continue reading
Posted Jun 15, 2018 at Family Security Law Group, APC
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“Understanding how different assets are considered for Medicaid eligibility.” Medicaid is a needs-based government program administered by the states, with income and asset limitations that apply before you can qualify for the program’s assistance, says nj.com in the recent article, “How trusts fit in with Medicaid planning.” To prevent individuals... Continue reading
Posted Jun 13, 2018 at Family Security Law Group, APC
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“…President Donald Trump signed into law the sprawling tax bill that was hastily built out by Republican leaders over the past month. In doing so, he formalized a huge range of changes to how Americans — and American businesses — will pay their taxes.” In light of the fact that... Continue reading
Posted Jun 11, 2018 at Family Security Law Group, APC
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“Since most federal and state benefits are "needs based," the government is always looking over the shoulder of special needs persons.” About 58 million people nationwide over the age of five identify themselves as disabled. That’s the largest single minority in the country. Millions of Americans want to help them.... Continue reading
Posted Jun 8, 2018 at Family Security Law Group, APC