In the first part of our series on practical steps for ensuring a comfortable retirement, we covered estate planning, passing on a legacy, and preparing for long-term care. This week, we continue with five more steps, including adapting your home for comfort and safety and leveraging technology for independence. Implementing these steps will provide you with greater peace of mind in your later years. Read more.
Read MoreSo you received a tax refund this year—congratulations! You might be thinking of splurging on a vacation or saving it for an unforeseen expense, but there's an even smarter option for utilizing that refund: estate planning. Here's why it's a wise choice. Continue reading to learn more.
Read MoreIn a time when digital advancements influence all facets of our existence, it's understandable that our teenagers are captivated by the prospect of cryptocurrency. However, before they delve into this territory, parents need to be equipped to guide them through this emerging landscape. Continue reading for insights.
Read MoreThis week, we delve into a genuine cautionary story highlighting the potential complications that can arise in blended families when parents defer decisions regarding their children's care and inheritance to the surviving spouse and the jurisdiction's legal framework.
Read MoreLast week, we delved into seven strategies to express care for your finances and family through intelligent, tax-efficient financial advice for the upcoming year. Discover additional insights by reading Part 2 of our series now. Continue reading.
Read MoreFebruary is celebrated as the month of love, yet there's another form of affection that warrants our focus: the care and consideration we extend to ourselves, our families, and our finances through diligent financial planning. Discover more.
Read MoreIn 2024, the SECURE 2.0 Act brings significant changes to the world of retirement savings and college savings accounts that could substantially impact your family's financial future. Read more…
Read MoreThe holidays are a perfect time to bring up conversations around inheritance, end of life, and stepping into another level of connection and intimacy, if you do it right. Otherwise, it could end in a big unresolved mess. Asking your relatives how they want their money and belongings handled when they die or if they become incapacitated might not go over well while opening presents or carving a turkey. To keep your family from feeling blindsided and to make the most of your conversation, consider these tips. Read more…
Read MoreLast week we looked at four different ways to lower your tax liability for 2023. In this week’s blog, we discuss four more tax-saving methods you can use right now to owe fewer taxes come April 2024. Read more…
Read MoreIt might seem early to think about your 2023 taxes, but it's the perfect time to take a closer look at your financial situation and make some strategic moves that can help you minimize your tax liability come April. Read more…
Read MoreAs a parent, you are quite accustomed to managing your children's legal and medical affairs as circumstances require. If your child requires urgent medical attention while away from you, a simple phone call authorizing care can do the trick. But what happens when those “children” turn 18, now adults in the eyes of the law, and need urgent medical attention far from home?
The simple fact is that the day your child turns 18, he or she becomes an adult and has the legal rights of an adult. This means that you lose your prior held rights to make medical and financial decisions for your child unless your child executes legal documents giving you those rights back. Without the proper legal documents, accessing medical information and even being informed about your adult child’s medical condition can be difficult and, in some cases, impossible.
Read MoreYou’ve probably heard you need trust to keep your family out of court and may be out of a conflict in the event of your death or incapacity. And, if you haven’t, you are hearing it now. If you own any “probatable” assets in your name at the time of your incapacity or death, your family must go to court to access them. If you aren’t sure if your assets are “probatable” contact us to discuss.
But you may need clarification about whether you need a revocable living or irrevocable trust. More and more, we are seeing people come our way asking for an irrevocable trust, and so this article is designed to help you learn the difference and then get into an “eyes wide open” conversation about the right kind of trust for you and your loved ones.
Read MoreAlthough the end of the year can be a hectic time, it’s also the deadline for your family to implement a number of key tax-savings strategies. By taking action now, you can significantly reduce your tax bill due in April, but with just a few weeks left in 2022, you better act fast.
While there are dozens of potential tax breaks you may qualify for, here are 4 of the leading moves you can make to save big on your 2022 tax return. However, there may be other opportunities for saving, so meet with us, your Personal Family Lawyer® to make certain you haven’t missed a single one.
Read MoreFollowing the death of a loved one, close family members are sometimes surprised to learn that they didn’t receive the inheritance they were expecting and that the deceased left most of their estate to an individual they only recently met, who wasn’t even a relative. While it’s not always the case, in some situations, this can mean your loved one was taken advantage of by a bad actor, who manipulated him or her into cutting out close family members from their plan and leaving assets to the bad actor instead.
This is called "undue influence," and it’s not only unethical, it’s illegal and considered a form of elder abuse. Given the growing number of seniors, the prevalence of diminished capacity associated with aging, and the concentration of wealth among elderly Baby Boomers, we’re likely to see a serious surge in cases involving undue influence in the coming years.
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