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Garland Law Offices, P.A.
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“Whether you've just signed a multi-million-dollar contract or won the lottery, here are some tips that will help you keep and grow your wealth responsibly.” There’s nothing quite like getting an unexpected sum of money. That happiness can be magnified when the amounts are six, seven, eight digits or more.... Continue reading
Posted 8 hours ago at Garland Law Offices, P.A.
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“It’s never too early to start planning for your retirement.” While retirement planning may seem daunting, it’s critical to be certain that you have enough savings set aside for your golden years. According to the Federal Reserve, 26% of non-retirees say they have nothing saved for retirement. Zero. CNBC’s recent... Continue reading
Posted yesterday at Garland Law Offices, P.A.
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“Everyone’s heard the stories of celebrities who died without a proper estate plan in place. It’s been a hot topic in the last few years with Prince and Aretha Franklin serving as unfortunate faces of the phenomenon. However, it’s not just freewheeling entertainers.” Forbes’ recent article, “4 Ways To Improve... Continue reading
Posted 2 days ago at Garland Law Offices, P.A.
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“Find out what these savers have sacrificed in the name of a sound financial future and see what the experts say actually makes a difference in meeting your long-term savings goals, like early retirement.” What are you willing to forfeit now to save for retirement? Principal asked this of its... Continue reading
Posted 3 days ago at Garland Law Offices, P.A.
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“I'm in my 80s and have a substantial sum in retirement accounts that I plan to leave to my children. Will they have to pay estate taxes on it?” Estate taxes all depend on how on much a person is planning to give to heirs. Motley Fool’s recent article asks... Continue reading
Posted 4 days ago at Garland Law Offices, P.A.
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“The late rapper’s loved ones are expected to inherit $1 million each.” Seven months after he was fatally shot outside of his clothing boutique, rapper Nipsey Hussle's family has officially been given the sole custody of his 10-year-old daughter, Emani. BET’s article “Nipsey Hussle’s Family And Lauren London Granted Joint... Continue reading
Posted 7 days ago at Garland Law Offices, P.A.
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“With nearly half of all marriages ending in divorce, it’s not uncommon to have clients who are either going through divorce proceedings, living as a single parent after a divorce, or have been married more than once–with or without stepchildren.” Divorce can be extremely stressful, but in addition, the challenges... Continue reading
Posted Nov 28, 2019 at Garland Law Offices, P.A.
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“Veterans Affairs officials are confident they’ll be able to start processing ‘blue water’ Vietnam veterans disability claims at the start of next year, but also acknowledged a tight timeline ahead for the training and technology work to get the department ready for those cases.” House lawmakers have expressed worries that... Continue reading
Posted Nov 27, 2019 at Garland Law Offices, P.A.
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“New Jersey uses an expanded definition of estate recovery, which includes any property that belonged to the deceased person at the moment prior to his or her death.” If a person receives Medicaid benefits after taking the cash surrender from their whole life policy for funeral expenses but that policy... Continue reading
Posted Nov 26, 2019 at Garland Law Offices, P.A.
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“An issue that frequently arises is the treatment of an inheritance received by a spouse during the marriage. The basic rule is that any property received via gift or inheritance during the marriage is exempt from equitable distribution.” A good add-on to that sentence is something like, “provided that it... Continue reading
Posted Nov 25, 2019 at Garland Law Offices, P.A.
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“Chances are, Social Security will be a substantial source of income for you once you retire, so the higher those benefits are, the less financial stress you'll grapple with.” Read about how you can increase your Social Security benefits, by taking no action at all. Motley Fool’s article, “2 Passive... Continue reading
Posted Nov 22, 2019 at Garland Law Offices, P.A.
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“Fewer Americans are giving money to charity, and their relationship with God may have something to do with it.” Did you know that extremely religious people of any faith are more apt to give to charity? However, there are now less very religious people in the U.S. MarketWatch’s recent article,... Continue reading
Posted Nov 21, 2019 at Garland Law Offices, P.A.
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“Four changes are taking effect for Social Security in 2020. Knowing the facts about those changes and what they mean for typical recipients will help you take maximum advantage of the Social Security program.” Social Security supports millions of Americans, giving them vital benefits in retirement or if they are... Continue reading
Posted Nov 20, 2019 at Garland Law Offices, P.A.
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“Special needs lawyers can work with clients to set up individualized special needs trusts.” Supplemental Security Income and Medicaid are critical sources of support for those with disabilities, both in benefits and services. To be eligible, a disabled person must satisfy restrictive income and resource limitations. That’s why many families... Continue reading
Posted Nov 19, 2019 at Garland Law Offices, P.A.
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“There may be major changes to your student loans on the horizon.” Forbes’s recent article, “Expect These Student Loan Changes In 2020” says that Congress is the branch of government that will have the biggest (or smallest) effect on the future of student loans. Here are a few of the... Continue reading
Posted Nov 18, 2019 at Garland Law Offices, P.A.
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“A new court filing designed to prevent the mistress of John R. Jakobson from testifying that he promised to leave Chicago PD actress Marina Squerciati some of his $100 million fortune, states the Wall Street mogul said she would get a 'big surprise' in his will.” Millionaire John R. Jakobson's... Continue reading
Posted Nov 15, 2019 at Garland Law Offices, P.A.
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“We have approximately $1.5 million in cash and investments, mostly in Certificates of Deposit (CDs). Our mortgage is paid and we have no debt. We have three adult children. Should we put out assets into a trust to better protect them for the future?” Parents with savings have several options... Continue reading
Posted Nov 14, 2019 at Garland Law Offices, P.A.
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“This time of year, families gather to celebrate the season, offering an opportunity to air your plans for the inevitable.” American Legion’s recent article, “Planning beyond the will” says that it’s important that your estate planning papers are synced with your wishes and the current law, but you should also... Continue reading
Posted Nov 13, 2019 at Garland Law Offices, P.A.
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“Rip Taylor, known as the “King of Confetti” and “The Crying Comedian,” who became an icon of 1970s game shows with his outrageous, flamboyant style and fondness for confetti, has died at the age of 84.” Comedian Rip Taylor’s publicist, Harlan Boll, confirmed that Taylor died on Sunday in Beverly... Continue reading
Posted Nov 12, 2019 at Garland Law Offices, P.A.
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“I am concerned about the SECURE and RESA acts currently being considered in Congress. If either of them passes, my children will lose the inherited stretch IRA ability and face a much higher tax bill upon my demise.” The SECURE and RESA acts are currently being considered in Congress. These... Continue reading
Posted Nov 11, 2019 at Garland Law Offices, P.A.
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“No one likes to think about needing long-term care. Yet the reality is that many people will, at some point in their life.” Roughly 60% of those turning 65 can anticipate using some form of long-term care in their lives, according to the U.S. Health and Human Services Department. It... Continue reading
Posted Nov 8, 2019 at Garland Law Offices, P.A.
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“Medicare Advantage, also known as Medicare Part C, is a private insurance alternative to original Medicare.” Monthly premiums for Medicare Advantage (MA) plans are anticipated to decrease by an average of $3.87 to an estimated $23 in 2020. That’s a 14% drop, according to the Centers for Medicare and Medicare... Continue reading
Posted Nov 7, 2019 at Garland Law Offices, P.A.
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“You don’t want to cause a fight over these items, after your dad is gone.” Many parents have wills that were drafted years ago. Now they want to leave some specific items to people. Those are items not specifically mentioned in the will. How can he change his will? Can... Continue reading
Posted Nov 6, 2019 at Garland Law Offices, P.A.
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“An irrevocable life insurance trust (ILIT) is a structure that cannot in any way be rescinded, amended, or modified, after its initial creation.” An irrevocable life insurance trust (ILIT) is a trust that can’t be rescinded, amended, or modified after it’s created. ILITs are made with a life insurance policy... Continue reading
Posted Nov 5, 2019 at Garland Law Offices, P.A.
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“My parents died five months apart. I am the executor. How is the executor fee calculated fairly?” An executor's fee is the amount of money that’s charged by the individual who’s been named or appointed as the executor of the probate estate for handling all of the necessary tasks in... Continue reading
Posted Nov 4, 2019 at Garland Law Offices, P.A.