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Stone Law Offices, Ltd.
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“If you have a loved one who deals with chronic illness or a disability of some kind, you want to be able to keep supporting them after you’re gone. However, you don’t want to disrupt their ability to collect funds from programs like Medicaid or disability payments. In these situations,... Continue reading
Posted 9 hours ago at Stone Law Offices, Ltd.
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“Military personnel make many sacrifices to protect our country, sometimes giving their lives. Veterans often give up their good health, even after they return home.” Individuals who have medical conditions from service are eligible for disability benefits. However, there are a number of myths that make many veterans reluctant to... Continue reading
Posted yesterday at Stone Law Offices, Ltd.
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“This method is actually the default ownership method in Oklahoma, i.e. if you simply title ownership as “joint ownership” the form of ownership assumed will be as a tenant in common.” There are several ways to hold property. They include ownership as an individual and property held as joint tenants... Continue reading
Posted 2 days ago at Stone Law Offices, Ltd.
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“Veterans will see a cost-of-living increase in their benefits payouts later this year, but it likely won’t be as big as the last one they received.” President Donald Trump recently signed into law the annual Veterans’ Compensation Cost-of-Living Adjustment Act. This measure guarantees that several veterans benefits will see the... Continue reading
Posted 3 days ago at Stone Law Offices, Ltd.
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“Beneficiary designations are a crucial part of estate planning, yet they are often overlooked. Once you have signed your estate planning documents, you need to make sure that your beneficiary designations are consistent with the rest of your estate plan.” It’s not uncommon for the intent of an individual’s will... Continue reading
Posted 3 days ago at Stone Law Offices, Ltd.
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“Here are five Social Security changes for 2020 that could impact your monthly take-home income.” While Social Security now delivers benefit checks to more than 63 million people every month, the program is primarily designed to provide a financial foundation for our nation's retired workers. Nearly 45 million retired workers... Continue reading
Posted Dec 28, 2019 at Stone Law Offices, Ltd.
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“If you haven’t discussed your parents’ long-term financial goals with them, you aren’t alone.” A recent study by Ameriprise Financial found that more than one-third of adult children say they haven’t had a conversation about their parents’ long-term financial goals. Even though discussing this delicate topic may seem uncomfortable, addressing... Continue reading
Posted Dec 27, 2019 at Stone Law Offices, Ltd.
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“If the will does not specifically provide a bequest of the home and the will says everything goes 50/50 to you and your sister, then the executor has the right and responsibility to sell the home to carry out the bequest.” It’s not uncommon for a parent to leave his... Continue reading
Posted Dec 26, 2019 at Stone Law Offices, Ltd.
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“You’ve probably seen it in the movies or on TV hundreds of times: A close-knit family gathers for the reading of the will of a wealthy patriarch or matriarch. When the terms are revealed, someone benefits at the expense of someone else, causing a ruckus. It may even come to... Continue reading
Posted Dec 23, 2019 at Stone Law Offices, Ltd.
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“A blind trust is a type of living trust, in which the grantor and beneficiary have no control over or knowledge of the assets in the trust or how they’re being managed.” This is a kind of living trust where the grantor and beneficiary don’t control or know about the... Continue reading
Posted Dec 22, 2019 at Stone Law Offices, Ltd.
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“A bypass trust could help your estate planning, depending on your financial goals.” Creating an estate plan is an essential part of managing wealth. This is especially true, if you’re married and want to leave assets to your spouse. Understanding how a bypass trust works will help your planning, says... Continue reading
Posted Dec 21, 2019 at Stone Law Offices, Ltd.
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“Deciding whether to give a home as a gift goes beyond cost basis and capital gains…” A mother may be considering giving her house to her son. The son is disabled and lives at home. His only income is Social Security Disability totaling about $18,000 per year. nj.com’s recent article,... Continue reading
Posted Dec 20, 2019 at Stone Law Offices, Ltd.
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“Whether you’re preparing your estate to pass on to loved ones or helping guide a parent in that process, estate law can be tricky and unfamiliar ground. One of the most important aspects of estate preparations is figuring out what to do with one’s home and property.” Investopedia’s recent article... Continue reading
Posted Dec 19, 2019 at Stone Law Offices, Ltd.
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“Many freelancers and other self-employed Americans plan to continue working even after they retire—and many of them will have to, because they’re not saving nearly enough to live on while retired, according to the findings of a new study recently released by the nonprofit Transamerica Center for Retirement Studies (TCRS).”... Continue reading
Posted Dec 17, 2019 at Stone Law Offices, Ltd.
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“When transferring wealth to the next generation, many families prefer to make gifts to younger family members in trust, rather than gifting the assets outright. Gifting assets to a trust has many advantages, including asset protection, tax planning and maintaining family control until the beneficiary reaches adulthood.” A dynasty trust... Continue reading
Posted Dec 17, 2019 at Stone Law Offices, Ltd.
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Probate is not always an efficient process. However, it is the way to properly dispose of an individual’s property after they have died. It gives the necessary stamp of approval that the will is legitimate, and the executor has been confirmed. Probate can be avoided with proper estate planning, or... Continue reading
Posted Dec 16, 2019 at Stone Law Offices, Ltd.
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You never expected your mother to leave you a fortune, but you thought that she’d leave you something when she passed. Did a sneaky cousin have something to do with it? What do you do now? If it helps, and it might not, this happens more frequently than you’d think.... Continue reading
Posted Dec 14, 2019 at Stone Law Offices, Ltd.
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In 1974, a federal law was created to protect worker’s retirement income and require information about the accounts to be transparent, among other things. The law was named The Employee Retirement Income Security Act, known as ERISA. At the very simplest of definitions, a “qualified retirement plan” meets ERISA guidelines,... Continue reading
Posted Dec 13, 2019 at Stone Law Offices, Ltd.
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A final rule from the Labor Department will allow small businesses to offer 401(k) plans, which may make fiscal sense, if they band together. Businesses in different industries will have the option to team up to create a retirement plan, as long as they are located in the same region.... Continue reading
Posted Dec 11, 2019 at Stone Law Offices, Ltd.
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“It’s one thing to assume that these conversations can wait until a health or financial emergency makes them necessary. However, avoiding money talks with your parents altogether can be a mistake.” GOBankingRates recently released a survey that found that 73% of Americans haven’t had conversations with aging parents about their... Continue reading
Posted Dec 11, 2019 at Stone Law Offices, Ltd.
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“Many people are frightened of long-term care costs—for good reason.” The recent article from MarketWatch, “This is how much long-term care could cost you, and don’t expect Medicare to help,” reports that most people over 65 will eventually need help with daily living tasks, like bathing, eating, or dressing. Men... Continue reading
Posted Dec 10, 2019 at Stone Law Offices, Ltd.
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“If you're considering retiring early, you'll forego not only the headaches of working but also the additional money earned that could have made your retirement even more comfortable. Make sure that you're truly ready before you leave.” Investopedia’s recent article, “6 Signs You Are Ready to Retire Early” gives you... Continue reading
Posted Dec 9, 2019 at Stone Law Offices, Ltd.
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“Being well-prepared for retirement is wonderful, but there is no fail-safe plan. Things can unravel, due to many inherent post-retirement risks.” Knowing the risks that may be found in retirement and the ways in which they can harm financial security is critical to making important modifications in a retirement plan.... Continue reading
Posted Dec 8, 2019 at Stone Law Offices, Ltd.
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“An irrevocable life insurance trust (ILIT) can provide peace of mind, as you start your estate planning process. If you have a sizable estate or young beneficiaries, an ILIT can provide control over a life insurance policy that a last will and testament may not.” The word “irrevocable” in an... Continue reading
Posted Dec 7, 2019 at Stone Law Offices, Ltd.
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radio.com’s article “Congress introduces bills to increase veteran benefits, refund home loan fees, help women veterans,” lists all of the legislation that’s been introduced in Congress aimed at helping veterans. Cost of living adjustment (COLA). Senators Johnny Isakson, R-Ga., and Jon Tester, D-Mont., chairman and ranking member of the Senate... Continue reading
Posted Dec 6, 2019 at Stone Law Offices, Ltd.