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Cumberland Legacy Law
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Check your estate plan for changes required to meet the requirements and opportunities. Changes created by the passage of the Tax Cuts and Jobs Act create a need to revisit your estate plan, if you have not already done so, according to The Kansas City Star in “Talk to estate... Continue reading
Posted Mar 15, 2019 at Cumberland Legacy Law
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Passing away quietly at home without pain is not a common occurrence. Increasing the chances of achieving a peaceful death requires some careful planning as well as conversations with loved ones, according to The Wall Street Journal in “Preparing For a Good End Of Life.” You will want to make... Continue reading
Posted Mar 14, 2019 at Cumberland Legacy Law
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A good plan accomplishes your goals when you are gone and protects your loved ones. Most people realize that they need an estate plan, yet the vast majority of Americans do not have one, according to the Lockport Journal in “Senior Spotlight: Composing the ‘family love letter.’” One reason people... Continue reading
Posted Mar 13, 2019 at Cumberland Legacy Law
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The need for caregiving often comes about unexpectedly. People often think they should make arrangements for a Power of Attorney or living will but unfortunately the need arises suddenly resulting in a challenging situation, according to Expert Click in “How to Get Power of Attorney for Aging Parents. A medical... Continue reading
Posted Mar 12, 2019 at Cumberland Legacy Law
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Protect your assets from being mishandled. As you prepare an estate plan, consider a look at creating trusts to protect assets through the generations, according to the Times Herald-Record in “Leaving inheritances to trusts puts you in control.” For many parents, the inheritance equation is simple. They leave their estate... Continue reading
Posted Mar 11, 2019 at Cumberland Legacy Law
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The 65th birthday is key when it comes to Medicare, and the deadlines are taken seriously. Potential Medicare enrollees can face some pretty stiff late-enrollment penalties and they don’t end, according to The New York Times in “If You Do Medicare Sign-Up Wrong, It Will Cost You.” The mistakes are... Continue reading
Posted Mar 7, 2019 at Cumberland Legacy Law
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Social Security is likely to be very important to your retirement. But wait, the amount can vary. Figuring out when to begin taking Social Security can be a real challenge, because the time to begin filling your claim ranges from the age of 62 to 70, according to the Independent... Continue reading
Posted Mar 7, 2019 at Cumberland Legacy Law
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It may not be the best time when the pressure is on. However, read the contract and get some advice. If you are preparing to move to a retirement community or care community yourself, it is best to read that fine print very carefully and better yet, get some legal... Continue reading
Posted Mar 6, 2019 at Cumberland Legacy Law
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Want to go from Boomer lifestyle to sitting down? Probably not! The idea of retirement as a time to settle down and no longer be an active citizen is being challenged by a generation that has so far changed every stage of living, according to Next Avenue in “How to... Continue reading
Posted Mar 5, 2019 at Cumberland Legacy Law
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Planning for retirement years is much more than looking after your bank account. It is very important to prepare for old age. It turns out that it is frequently more than looking after your financial situation. It is also a good idea to prepare to remain independent and in good... Continue reading
Posted Mar 4, 2019 at Cumberland Legacy Law
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If the legal documents aren’t signed and notarized properly, there is a good chance that problems will arise. A properly prepared will could have avoided many of the problems faced by a woman who thought she was protected, according to News 2 in “The power of a will and trouble... Continue reading
Posted Feb 28, 2019 at Cumberland Legacy Law
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Trusts have been around for a very long time and it is important to understand how they work. A trust can be quite complicated. That is why you need good legal representation in order to use one properly, according to the Pittsburgh Post-Gazette “Do I need a trust?” Trusts are... Continue reading
Posted Feb 27, 2019 at Cumberland Legacy Law
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With the traditional family on a downward trend, the modern family is raising some new questions for estate planning. The rising numbers of modern and blended families have created some challenges for estate planning, according to Forbes in “How Long Will Stepmom Live? And Other Vexing Estate Planning Questions for... Continue reading
Posted Feb 26, 2019 at Cumberland Legacy Law
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Giving for the tax break or to better your community? Or Both? Some people donate to charities primarily for the tax breaks, so the U.S. Tax Cuts and Jobs act may cause them to review their charitable giving, says Barron’s Penta in “How to Leave Assets—With an Immediate Tax Write-Off.”... Continue reading
Posted Feb 25, 2019 at Cumberland Legacy Law
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More than 5.7 million people in this country are suffering from the disease. More and more members of families are experiencing the dilemma of expressing their wishes before they become incapacitated from Alzheimer’s Disease, according to USA Today in “B. Smith’s Alzheimer’s raises question: How to protect your wishes when... Continue reading
Posted Feb 23, 2019 at Cumberland Legacy Law
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Start planning long before a visit is needed. Careful planning can often help patients with Alzheimer’s to be more relaxed and comfortable if the day comes when a trip to the emergency room becomes necessary, according to The Advocate in “Alzheimer’s Q&A: What should I know before taking someone with... Continue reading
Posted Feb 22, 2019 at Cumberland Legacy Law
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“Charitable giving comes in many forms. Some people donate annually to their favorite charities, while others may volunteer their time or professional services. One way many people choose to give to charity, is to donate at the time of their death. Including charitable giving into an estate plan, is a... Continue reading
Posted Feb 21, 2019 at Cumberland Legacy Law
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Social Security options need to be approached carefully. Many people have been known to confuse “Restricted Application” with the “Claim and Suspend” strategy and that can cause some problems, according to Forbes in “Put Thousands In Your Pocket By Taking Advantage Of the Social Security ‘Restricted Application’.” Both of tactics... Continue reading
Posted Feb 20, 2019 at Cumberland Legacy Law
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If the clients wait until the last minute, panic can set in. A woman and her team focus on the difficulties of the work as well as the emotional challenges faced by Baby Boomers who opt to downsize, according to Columbus CEO’s article “Estate Planning and Retirement: How to Downsize... Continue reading
Posted Feb 19, 2019 at Cumberland Legacy Law
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Offers to leave your job with compensation are growing at a considerable rate. The offering of early retirement has grown tremendously in the U.S. However, it is important to think the options through carefully, before making your decision, according to Money in “This Is the Only Time You Should Accept... Continue reading
Posted Feb 18, 2019 at Cumberland Legacy Law
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How many people over the age of 45 do not have a prepared will? Two out of Five! Many people seem to have a difficulty getting started with an estate plan. However, it really doesn’t take much to do the planning necessary to help family members who survive you, according... Continue reading
Posted Feb 15, 2019 at Cumberland Legacy Law
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It sounds financial but it isn’t. It is all about the person’s behavior in the relationship. A fiduciary relationship is a legal relationship that includes responsibilities that can be enforced and it is important to look closely at it, according to the Denton Record-Chronicle in “What is the “F” word?”... Continue reading
Posted Feb 14, 2019 at Cumberland Legacy Law
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Government regulations usually have less impact than family relations. There are some big mistakes that farmers can make. It is best to be aware of them and avoid following in the footsteps of others, according to Ag Web in “5 Estate Planning Mistakes You Don’t Want To Make.” The estate... Continue reading
Posted Feb 13, 2019 at Cumberland Legacy Law
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The tale might be light-hearted, but it is actually a dire position for the daughter. Proper estate planning by Cinderella’s father could have created an entirely different outcome in that very famous fairy tale, according to The National Law Review in “A Cautionary Fairy-Tale–If Only Cinderella’s Father Had An Estate... Continue reading
Posted Feb 12, 2019 at Cumberland Legacy Law
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Laws can still prevent someone with your Advance Care Directive from accessing medical records. It seems illogical that the person who is named as your agent under an Advanced Care Directive can’t gain access to your health care records. However, that can sometimes be the case, according to the Monterey... Continue reading
Posted Feb 11, 2019 at Cumberland Legacy Law