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Salines-Mondello Law Firm, PC
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“Check out some often-overlooked retirement planning facts of life that everyone should be aware of.” It’s crucial to have a plan for your retirement, so let’s get educated. There are some facts you might not know about retirement, like the way in which your Social Security benefit can be taxed... Continue reading
Posted Jan 31, 2020 at Salines-Mondello Law Firm, PC
CLICK ON THE LINK ABOVE TO WATCH THE SHORT VIDEO CLIP Typically, a general power of attorney will not expire. A limited power of attorney, however, does of a set date in which the power holder can act on behalf of the principal. We're seeing a trend today where financial... Continue reading
Posted Jan 30, 2020 at Salines-Mondello Law Firm, PC
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“Running and owning a business is just like raising a child: Both are investments in the future, and both require a lot of time, resources and effort to raise successfully. One can argue that you would treat your business like you'd treat a child; you'd want it to succeed even... Continue reading
Posted Jan 30, 2020 at Salines-Mondello Law Firm, PC
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“A new law could affect the IRAs and 401(k)s of millions of Americans in 2020.” The SECURE Act is the most substantial change to our retirement savings system in over a decade, says Covering Katy (TX) News’ recent article entitled “Laws Change for IRA and 401K Retirement Savings Plans.” The... Continue reading
Posted Jan 29, 2020 at Salines-Mondello Law Firm, PC
CLICK ON THE LINK ABOVE TO WATCH THE SHORT VIDEO CLIP By hiring a certified elder law attorney, you can be assured that the attorney possesses the knowledge, skills, and proficiency in the area of elder law to examine all of the issues in your family, to help to enhance... Continue reading
Posted Jan 28, 2020 at Salines-Mondello Law Firm, PC
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“Call it an astute estate planning move, but I didn’t want to leave eight notebooks of baseball cards encased in plastic sleeves for my children to sort through down the road.” It may be time to sell your baseball card collection. Arizona Daily Star’s recent article entitled “The valuable lessons... Continue reading
Posted Jan 28, 2020 at Salines-Mondello Law Firm, PC
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“If you're between 55 and 64, you still have time to boost your retirement savings. Whether you plan to retire early, late, or never ever, having an adequate amount of money saved can make all the difference, both financially and psychologically. Your focus should be on building out—or catching up,... Continue reading
Posted Jan 27, 2020 at Salines-Mondello Law Firm, PC
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“The sad reality is that many of us have not taken the time to execute a will or develop an estate plan. The estates of individuals who die without properly drafted and executed wills are distributed in accordance with the law of the states in which they reside at death.”... Continue reading
Posted Jan 24, 2020 at Salines-Mondello Law Firm, PC
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“Turning 65 is a major milestone for many Americans, as it is the traditional age at which they start thinking seriously about retirement.” Many things change when celebrating your 65th birthday. For one thing, if you haven’t already retired, chances are good that you’ve set a retirement date and it’s... Continue reading
Posted Jan 23, 2020 at Salines-Mondello Law Firm, PC
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“If you care about what happens to your money, home and other property after you die, you need to do some estate planning.” An estate planning lawyer has many different tools to achieve clients’ estate planning goals. However, at the heart of any plan is the will, also known as... Continue reading
Posted Jan 22, 2020 at Salines-Mondello Law Firm, PC
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“The number of baby boomers entering retirement is expected to grow for several years, while the number of college-bound high-school grads is projected to decline.” Retired boomers looking for a new way to retire may be just the answer for schools facing lower enrollments, because of shrinking student loan options,... Continue reading
Posted Jan 22, 2020 at Salines-Mondello Law Firm, PC
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“These changes are so significant that every such plan holders should review their wishes and how their estate plans may be affected.” The SECURE Act has made big changes to how IRA distributions occur after death. Anyone who owns an IRA, regardless of its size, needs to examine their retirement... Continue reading
Posted Jan 20, 2020 at Salines-Mondello Law Firm, PC
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“Just when you need to be growing your retirement account to be ready to retire, your hard-earned retirement account might be barely treading water.” The United States stock market has hit some record high numbers during the past couple of years. Therefore, why are the earnings on your retirement investments... Continue reading
Posted Jan 17, 2020 at Salines-Mondello Law Firm, PC
CLICK ON THE LINK ABOVE TO WATCH THE SHORT VIDEO CLIP A revocable living trust isn't typically used for the protection of assets. Rather, it's used for probate purposes in order to streamline the probate process or eliminate it. It is also used in order to protect assets for the... Continue reading
Posted Jan 16, 2020 at Salines-Mondello Law Firm, PC
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“The instant gratification can be a rush, but when you realize you have saddled yourself with paying off the loan month after month for years, that event or item loses some of its shimmer.” Personal loans are more popular than ever. You get a flyer in the mail. You go... Continue reading
Posted Jan 16, 2020 at Salines-Mondello Law Firm, PC
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“The hacker can steal your frequent flyer points or mess with your life, by canceling your future flights or changing your destinations.” You might think your boarding pass is useless trash once you find your seat, but do not discard this piece of paper. Take it home and shred it.... Continue reading
Posted Jan 15, 2020 at Salines-Mondello Law Firm, PC
CLICK ON THE LINK ABOVE TO WATCH THE SHORT VIDEO CLIP A living trust or a revocable trust is what's called a grantor trust which means that the creator of the trust creates the trust, funds the trust, has the power to amend or revoke the trust and controls all... Continue reading
Posted Jan 14, 2020 at Salines-Mondello Law Firm, PC
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“You did not need their permission to be a stay-at-home mom, and you do not need their approval now.” When many people are thinking about retiring, women who have been stay-at-home moms often find themselves in an awkward position. People who have worked outside the home sometimes assume the stay-at-home... Continue reading
Posted Jan 14, 2020 at Salines-Mondello Law Firm, PC
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“Whether you are just now embarking on your succession journey or are somewhere in the middle, remember the four Cs: clarity, certainty, continuity and communication.” Succession planning is not thought of as fun, simple, or quick. That’s true. A recent article from Ag Web puts it clearly: “Succession Planning Takes... Continue reading
Posted Jan 10, 2020 at Salines-Mondello Law Firm, PC
click the link above to watch the short video clip If the trust created was a payback special needs trust then yes, the monies left over at death must first go to reimburse public benefits prior to being paid out to the designated beneficiaries. If the trust was not a... Continue reading
Posted Jan 9, 2020 at Salines-Mondello Law Firm, PC
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“The death of a beneficiary scenario can arise in settling either a probate estate or a trust administration. The beneficiary’s death affects both the administration of the first decedent’s probate estate or trust and the administration of the beneficiary’s own estate.” When the beneficiary of a deceased person’s probate estate... Continue reading
Posted Jan 9, 2020 at Salines-Mondello Law Firm, PC
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“Years ago he signed a power of attorney document naming me as his agent, so I could help him with these types of things. Not ever having done this before, what do I need to know about fiduciary duty?” There are any number of pitfalls that may occur when administering... Continue reading
Posted Jan 8, 2020 at Salines-Mondello Law Firm, PC
click on the link above to watch the short video clip Yes, parents can contribute their fair share of expenses when living with an adult child. It's important to put that in a control though because in the event that the parent might need Medicaid in the future to help... Continue reading
Posted Jan 7, 2020 at Salines-Mondello Law Firm, PC
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“There are two big victories with qualified charitable donations: You lower your overall taxable income—adjusted gross income—and the money you donate to charity directly is not taxed.” There’s a way to amplify your giving, if you’re in the right age bracket and charitably inclined, says an article from The Philadelphia... Continue reading
Posted Jan 7, 2020 at Salines-Mondello Law Firm, PC
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“Target-date funds, in theory, offer retirement savers a no-fuss way to invest without having to worry about allocations, rebalancing and glide paths.” The theory is great: just pick a fund closest to the date when you plan on retiring and sit back and let the fund work. However, for many,... Continue reading
Posted Jan 6, 2020 at Salines-Mondello Law Firm, PC