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The Smith Law Firm
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Happy Thanksgiving to you and yours! The Smith Law Firm, P.C. Continue reading
Posted Nov 23, 2016 at The Smith Law Firm
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“Believe it or not, you can handle your child's higher education costs and your 401(k) deferrals—you'll just have to start saving years in advance.” A recent CNBC article, “Saving for college and for retirement isn’t impossible,” says that parents can fund college tuition and retirement if they begin saving as... Continue reading
Posted Nov 22, 2016 at The Smith Law Firm
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“You may have created the perfect estate plan, but your heirs can easily end up in conflict and your estate in dispute–especially if the provisions of your Trust or Will come as a surprise.” Even if your plans are simple, talking through the details of your estate plan with heirs... Continue reading
Posted Nov 21, 2016 at The Smith Law Firm
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“Five skills that will help you care for the ones you love.” Family caregivers can play many roles, like scheduler, financial manager, housecleaner, encourager, nurse, navigator, nurturer and more. But the most important role is advocate, ensuring the best life possible for our family and friends when they are vulnerable,... Continue reading
Posted Nov 21, 2016 at The Smith Law Firm
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“Pro-active investors know that the months before year-end are an ideal time to make any final tax-saving moves.” While considering your long-term investment goals, meet with your team of professional advisors to look at any issues or changes that could impact your typical year-end planning, says The (Hot Springs, AR)... Continue reading
Posted Oct 31, 2016 at The Smith Law Firm
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“You thought you’d planned for everything, but these things might still sneak up on you in retirement.” Everyone’s busy with families, careers, home-buying, and then one day, college for the kids. It shouldn’t be too surprising that retirement planning takes a back seat, says The Washington Post in a recent... Continue reading
Posted Oct 30, 2016 at The Smith Law Firm
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“Life is short. And while no one wants to focus on the end, forcing yourself to do so can ultimately make things a bit easier for your loved ones, not just emotionally, but financially too. One way to deal with the latter concern is to put your home in a... Continue reading
Posted Oct 28, 2016 at The Smith Law Firm
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“Whether your company has decided to move its headquarters or operations to a new state or asked you to move to a different office location, you likely have a myriad of questions running through your mind.” There will be questions about houses and neighborhoods, schools, the cost of living, churches... Continue reading
Posted Oct 28, 2016 at The Smith Law Firm
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“An estate plan is not something to ignore for years.” Your estate plan may be aging as we speak. It could be getting obsolete and not reflect your current circumstance, objectives, and desires. As the Nevada Appeal’s recent article “Is your estate plan obsolete?” reminds us, the only thing that... Continue reading
Posted Oct 28, 2016 at The Smith Law Firm
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“These 'how to' steps can bolster the long-term transferability of your business.” Many family-business owners aren’t sufficiently prepared to transfer their businesses. There are several reasons why business transition planning is critical for business owners who want to protect the future value of their enterprise. One element of this preparation... Continue reading
Posted Oct 28, 2016 at The Smith Law Firm
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“You are in the hospital for tests after experiencing dizziness. You are nervous about what the tests will show, but at least you do not have to worry about hospital bills–you have Medicare, so you can relax about healthcare coverage. Or can you?” If you’re in the hospital under “observation... Continue reading
Posted Oct 16, 2016 at The Smith Law Firm
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“As the mythical movie boxer, Rocky Balboa, reminded us, ‘Time takes everybody out, time’s undefeated.’” Can you believe the average cost for a one-bedroom unit in an assisted living facility is nearly $42,000 a year in our country? These long-term-care costs could knock even Rocky out of the ring. With... Continue reading
Posted Oct 12, 2016 at The Smith Law Firm
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“This is a fundamental issue of equal protection under the law for those who are facing life-changing disease or disability,” said U.S. Rep. Glenn Thompson, R-Pa., who sponsored the bill. The U.S. House recently passed the Special Needs Trust Fairness and Medicaid Improvement Act (H.R. 670) by a vote of... Continue reading
Posted Oct 12, 2016 at The Smith Law Firm
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“Gov. Jerry Brown on Saturday signed into law tech-backed legislation providing a road map for handling the emails, social media accounts and other digital assets of the dead.” Assembly Bill 691 will create a three-tiered approach when designating who has the authority to access the online data of a deceased... Continue reading
Posted Oct 12, 2016 at The Smith Law Firm
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“Studies show that many Americans old enough to need estate planning have done absolutely nothing about it. This lapse is, of course, the most fundamental error you can make in estate planning.” It’s common for folks to make serious errors in planning—or just not planning—to pass their wealth to their... Continue reading
Posted Sep 26, 2016 at The Smith Law Firm
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“Estate planning documents are an essential part of your financial plan. They ensure that your wishes will be followed.” NJ 101.5 recently posted an article, “Here are the important estate planning documents you should have.” It explains that there are generally a “Big Three” of documents that just about everyone... Continue reading
Posted Sep 25, 2016 at The Smith Law Firm
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“A well-structured estate plan is invaluable.” It seems pretty natural that people postpone planning their estates. After all, who wants to anticipate or dwell on his or her own demise? What’s more, there are those that think only the wealthy or those with tax issues need estate planning. The Sabetha... Continue reading
Posted Sep 1, 2016 at The Smith Law Firm
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“Do you have an emergency slush fund set up for those unforeseen home repair or medical expenses?” When you’ve finally reached retirement and are feeling comfortable that your nest egg of savings will take care of your financial needs for as long as you need, there’s one more thing to... Continue reading
Posted Aug 31, 2016 at The Smith Law Firm
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“What are some disadvantages of using a trust to protect your assets?” There are a lot of benefits of trusts, but there also are some disadvantages. NJ 101.5’s recent post, “The disadvantages to trusts,” discusses some of the things you should know before moving forward. Trusts can save on estate... Continue reading
Posted Aug 31, 2016 at The Smith Law Firm
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“Draft a will now.” Did you know you need a will? You really do. Creating a will can make certain that your assets are transferred the way that you wanted. If you decide to go “commando”—sans will—there’ll be a few dangers that your family may encounter. Nerd Wallet’s recent article,... Continue reading
Posted Aug 29, 2016 at The Smith Law Firm
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“Even after you're gone, you can still help provide for the people and causes you care about.” What do Abe Lincoln, Bob Marley and Prince have in common? You guessed it…they all died without a will. But why? Kiplinger’s article, “4 Strategies to Avoid an Estate-Planning Mishap,” says that their... Continue reading
Posted Aug 24, 2016 at The Smith Law Firm
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“Shared housing is not uncommon in retirement, and for good reason.” NJ 101.5 says in its recent post, “Buying a retirement home together,” that more seniors are looking into shared housing options for financial reasons—as well as for friendship and companionship. Many of these retirees have discovered that sharing expenses... Continue reading
Posted Aug 23, 2016 at The Smith Law Firm
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“Be careful to understand the specific trust and plan and don’t rely on what has historically been done.” Many people want to invest assets held in trust. However, there are many different types of trusts, and it can be confusing to determine which assets are best for a particular type... Continue reading
Posted Aug 22, 2016 at The Smith Law Firm
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“Thinking about these events in terms of retirement planning provides a good overview of the things to think about when constructing your financial plan.” Did you ever consider that retirement planning in the 21st century is very similar to the modern Olympics pentathlon? The Des Moines Register’s article, “How the... Continue reading
Posted Aug 22, 2016 at The Smith Law Firm
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"Getting remarried...Oh, what fun when it comes to estate planning." A major challenge for those walking down the aisle again is how to reconcile preserving assets for children from a prior marriage and still taking care of the commitment to a new spouse. CNBC’s article, “Getting remarried? Protect your assets... Continue reading
Posted Aug 16, 2016 at The Smith Law Firm