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King & Wood, P.A.
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“Parents' instincts to protect their children can cause them to hold back on some important truth-telling about the kind of inheritance they might expect, but that could be a big mistake.” For some parents, it can be difficult to discuss family wealth with their children. You may worry that when... Continue reading
Posted 10 hours ago at King & Wood, P.A.
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“Acting as an executor can be a tremendous amount of responsibility and a time-consuming duty.” Is it a good idea to have your three grown children listed as co-executors of your will? This may get somewhat confusing when probating a will, if there are multiple executors. What are the pros... Continue reading
Posted 3 days ago at King & Wood, P.A.
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“Nipsey Hussle's ex is reportedly planning to object to the appointment of the late rapper's brother, Samiel Asghedom, as head of his estate.” Nipsey Hussle's ex-wife, Tanisha Foster, may also be set to request that she be appointed administrator, giving her access to Nipsey's millions. Hussle’s estate is estimated to... Continue reading
Posted 4 days ago at King & Wood, P.A.
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“Minnesota nursing homes have been licensed for years, but Minnesota was the only state that didn’t license assisted living facilities.” A major set of reforms has passed in the Minnesota legislature that covers how assisted care facilities operate. Although the state’s nursing homes have been licensed for many years, Minnesota... Continue reading
Posted 5 days ago at King & Wood, P.A.
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“By playing it safe, these federal employees are taking a different kind of risk—that their savings may not keep up with inflation, and lost market growth, potentially resulting in insufficient funds for retirement income.” Many people like to play it safe. That is a big reason why the conservative G... Continue reading
Posted 6 days ago at King & Wood, P.A.
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“Washington state lawmakers passed bills this session to make the guardianship application process easier for parents.” Public News Service’s recent article, “Guardianship Process to Be Streamlined in WA,” quotes Sterling Harders, president of Service Employees International Union 775, who says her union represents thousands of parents who care for children... Continue reading
Posted 7 days ago at King & Wood, P.A.
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“Westmoreland County’s Director of Veterans Affairs is reminding veterans that applying for benefits should never come with a fee.” The Tribune-Review’s article, “Veterans don’t need to pay for help to apply for benefits in Pa,” explains that the issue of military veterans being charged when applying for benefits is a... Continue reading
Posted Jun 14, 2019 at King & Wood, P.A.
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“If you have a medical issue that will certainly lead to death and significant costs, is it wise to legally divorce ahead of your death, so that the person dying owns very little beyond their health care coverage to protect assets from the likes of the medical insurance community?” It... Continue reading
Posted Jun 13, 2019 at King & Wood, P.A.
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“Billionaire Robert F. Smith made the 2019 class of Morehouse College graduates very happy over the weekend, when he pledged to pay off their student debt.” Billionaire Robert F. Smith told nearly 400 graduates of the historically black, all-male Morehouse College in Atlanta at their May graduation ceremony that he... Continue reading
Posted Jun 12, 2019 at King & Wood, P.A.
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“Sens. Ben Cardin, D-Md., and Rob Portman, R-Ohio, reintroduced legislation late Monday that would raise the required minimum distribution age from 70 ½ to 75 and also help workers pay off their student loans.” Senator Ben Cardin and Rob Portman’s Retirement Security and Savings Act of 2019 overlaps with some... Continue reading
Posted Jun 11, 2019 at King & Wood, P.A.
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“Humans are great at avoidance. We don’t want to experience pain, be faced with unpleasant facts or deal with anything we consider to be too far in the future.” Evolutionary psychologists think there’s an innate reason for people not wanting to discuss death and estate planning. They say our brains... Continue reading
Posted Jun 10, 2019 at King & Wood, P.A.
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“If you didn't take out the correct required minimum distribution because your brokerage firm made a mistake, the IRS may how some leniency.” It’s not uncommon for an individual to inaccurately calculate their required minimum distribution (RMD) for their account. Maybe you forgot that your brokerage firm divided the account... Continue reading
Posted Jun 7, 2019 at King & Wood, P.A.
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“Having a solid end-of-life plan in place, can be a big help to you and your family when the time comes. In addition to getting your financial affairs in order through the estate planning process, it’s also a good idea to set up medical power of attorney.” A medical power... Continue reading
Posted Jun 6, 2019 at King & Wood, P.A.
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“Americans distributed an average of $9,200 from their IRAs to charities from 2017 to 2018, according to a new report from FreeWill, a fundraising firm.” Qualified Charitable Distributions (QCDs) from IRAs, also known as IRA charitable rollover gifts, increased by 73.8% from 2017 to 2018, and 92% of nonprofit organizations... Continue reading
Posted Jun 5, 2019 at King & Wood, P.A.
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“IRA rules can be tricky, and some have even changed over the years. Therefore, you need to be careful or you could pay income tax and penalties.” If you’re considering rolling your traditional IRAs from one financial institution to another, Investopedia’s article, “Common IRA Rollover Mistakes” provides an overview of... Continue reading
Posted Jun 4, 2019 at King & Wood, P.A.
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“The Consumers First Act could also come up for a vote soon, Majority Leader Steny Hoyer says.” House Majority Leader Steny Hoyer, a Democrat from Maryland, informed the House Democratic Caucus in an April 25th “Dear Colleague” letter that he intends to bring H.R. 1994, the Setting Every Community Up... Continue reading
Posted Jun 3, 2019 at King & Wood, P.A.
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We are pleased to announce that Annalise Reeves Kapusta has joined our firm as an associate. Annalise graduated from the Florida State University College of Law (J.D., magna cum laude) in May 2019. She was a member of the Editorial Board of the Journal of Land Use and Environmental Law,... Continue reading
Posted May 31, 2019 at King & Wood, P.A.
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“When the news hit that Adele was ending her 7-year marriage to her partner, Simon Konecki–the world was shocked. The notoriously private singer has kept her relationship under wraps–so the world just assumed that she and Konecki were raising their son and living out the dream away from the spotlight.”... Continue reading
Posted May 31, 2019 at King & Wood, P.A.
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“You've heard of signing a prenuptial agreement to protect assets in the event of divorce, but now parents are considering the idea of a 'baby-nup' to make sure childcare is divided equally.” The idea of a baby-nup has recently started to gain interest on social media. However, it’s been further... Continue reading
Posted May 30, 2019 at King & Wood, P.A.
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“Doctors have newly outlined a type of dementia that could be more common than Alzheimer's among the oldest adults, according to a report published Tuesday in the journal Brain.” The disease, called LATE, may often replicate the symptoms of Alzheimer's disease. However, it impacts the brain differently and develops more... Continue reading
Posted May 29, 2019 at King & Wood, P.A.
“Does getting married later, have any effect on retirement saving?” New research from Boston College’s Center for Retirement Research has analyzed individuals’ contributions to a 401(k) plan, before and after marriage. “Millennials marry later than previous generations. Since marriage is a major life milestone that often marks a line between... Continue reading
Posted May 28, 2019 at King & Wood, P.A.
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We are pleased to announce that Megan Hance has joined our firm as a closing specialist. Megan comes to us with an extensive banking background. She worked in commercial lending for a year and a half and residential lending for two years. In her free time, she likes spending time... Continue reading
Posted May 15, 2019 at King & Wood, P.A.
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We are pleased to announce that Caroline Palmer has joined our firm as Front Desk Coordinator. Caroline will administer our client intake and scheduling processes. Caroline is a 2019 graduate of Florida State University, where she completed a B.A. in History with a minor in English. A native of Live... Continue reading
Posted May 10, 2019 at King & Wood, P.A.
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“The recent passing of Lee Radziwill was the end of an era. From her iconic fashion sense to her family pedigree, Radziwill lived a unique American life. Through all the ups and downs, she always reflected poise and style.” Lee Radziwill had a unique place in history, as the sister... Continue reading
Posted May 2, 2019 at King & Wood, P.A.
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“A federal judge ruled Wednesday that Medicaid work requirements undermine the program's mission of providing health care for the needy, dealing a blow to the Trump administration's efforts to push the poor toward self-sufficiency.” U.S. District Judge James E. Boasberg in Washington, D.C. recently blocked work requirements for low-income people... Continue reading
Posted May 1, 2019 at King & Wood, P.A.