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Fong Law Group
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“Wicked stepmothers are the stuff of Grimm’s fairy tales. Widowed stepmothers are the root of real-life inheritance wars.” The biggest issues in inheritance battles stem from Alzheimer’s disease, widowed stepmothers and estate crime. Certain issues, like signs of dementia, questionable asset transfers and sudden changes in investment risk profiles are... Continue reading
Posted yesterday at Fong Law Group
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“Does your ability to pass on your wealth to your heirs depend on where you live … and die? Indeed, it does. Federal estate taxes apply no matter where you live within the U.S. However, eighteen states subject their citizens to estate taxes or inheritance taxes.” It’s safe to say... Continue reading
Posted 2 days ago at Fong Law Group
Posted 5 days ago at Fong Law Group
Posted 5 days ago at Fong Law Group
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“If you were to receive a sizable inheritance, what should you do with it? This money could help you achieve some of your important financial goals , so you’ll want to think carefully about your choices.” While there’s no one way that is right for everyone, there are some basic... Continue reading
Posted 6 days ago at Fong Law Group
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“Family LLCs (FLLCs) and/or Family Limited partnerships’ (FLLPs) have long been popular devices to use, when making intra-family gifts (note the terms are used interchangeably below).” Family LLCs and Family Limited Partnerships are easy to understand and to administer, and they require very little reporting at the state level, explains... Continue reading
Posted 7 days ago at Fong Law Group
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“With so many types of health insurance available, it is hard to decide which types of supplemental insurance you need.” Insurance is a tool that is necessary to protect yourself and your loved ones. Long-term care insurance and life insurance are often offered by employers as part of your benefits... Continue reading
Posted Apr 16, 2019 at Fong Law Group
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“Often people are under the misconception that a will is only necessary if a person has a lot of assets, is wealthy, or has a complicated financial planning program in place.” The plain truth is, everyone needs a will. The value of someone’s personal property has very little to do... Continue reading
Posted Apr 11, 2019 at Fong Law Group
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“Truly, nearly every legal question depends on a host of facts and circumstances that make it impossible to guarantee a particular outcome … except in the case of my favorite question: ‘Do I need a will?’” It doesn’t take very long for any newly-minted attorneys in the trusts and estates... Continue reading
Posted Apr 10, 2019 at Fong Law Group
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“I am 60 years old, divorced and have never taken an active interest in my finances. I’ve never worried about saving for retirement. I felt that when I retired, I’d be able to sell my business and that along with the inheritance I would receive from my parents, I would... Continue reading
Posted Apr 8, 2019 at Fong Law Group
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“Upon one’s death, there is no comprehensive service that finds every asset in the individual’s name. Sometimes the executor or family partakes in what seems to be a goose-chase, trying to find out where the decedent held her monies and property.” It’s not unusual for a family member to find... Continue reading
Posted Apr 5, 2019 at Fong Law Group
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“Fortunately, Perry's foresight to do proper estate planning, meant that the tragedy was not made worse for his family.” Luke Perry’s death at age 52 from a condition that we think of as something that happens to older people, has made many people thinks differently about strokes. As reported in... Continue reading
Posted Apr 4, 2019 at Fong Law Group
Posted Apr 3, 2019 at Fong Law Group
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“Complaints about stolen homes have shot up from 44 in 2013 to 136 in 2018, according to the city Department of Records. The department is making changes to its security system in the aftermath of the Inquirer stories, but it declined to detail the upgrades, fearing it would tip off... Continue reading
Posted Apr 2, 2019 at Fong Law Group
Posted Apr 1, 2019 at Fong Law Group
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Sadly, learning how to deal with this debt is now a fact of life for many seniors heading into retirement. According to a study by the Consumer Financial Protection Bureau, the number of older borrowers increased by at least 20 percent between 2012 and 2017. Some of these borrowers were... Continue reading
Posted Mar 29, 2019 at Fong Law Group
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“Sharing a dementia diagnosis is a challenge facing thousands of Americans.” There are many factors to consider when you’re still active in the workforce but have received a diagnosis of dementia. How has your job performance been affected? Have you been able to devise a system for maintaining your performance... Continue reading
Posted Mar 28, 2019 at Fong Law Group
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“Police Detective Rosalee Reid told of one scammer who tried to entice her to give up her personal information, so he could attempt to drain her bank account by promising her she’d “won” $750,000 and a white Mercedes Benz.” Too bad this particular scammer had no idea to whom he... Continue reading
Posted Mar 27, 2019 at Fong Law Group
Posted Mar 22, 2019 at Fong Law Group
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Caring for an ailing family member is difficult work, but it doesn’t necessarily have to be unpaid work. There are programs available that allow Medicaid recipients to hire family members as caregivers. All 50 states have programs that provide pay to family caregivers. The programs vary by state, but are... Continue reading
Posted Mar 21, 2019 at Fong Law Group