by admin | Apr 17, 2013 | Weekly Articles
Many parents perceive a conflict between funding a child’s college education and building their own retirement nest egg. The conflict usually arises from the lack of financial resources to do both while funding daily living expenses, so parents become stuck between priorities and usually wind up doing nothing at all.
One of the things a Personal Family Lawyer® can help you do is sort out your priorities in a way that supports your family for the long-term. With that in mind, here are some guidelines on striking a balance between saving for your retirement and your child’s education:
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by admin | Apr 17, 2013 | Weekly Articles
The Risks of Poorman’s Estate Planning: How to Pass on Property & Avoid Probate the Right Way
They call it the “poor man’s estate planning.” Put your child on the title to your deed and avoid probate. Yet this “poor man’s” planning often ends up, well, poorly; and costing a lot more for the people you love. Here’s why and what you can do about it:
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by admin | Apr 17, 2013 | Weekly Articles
In the process of becoming new parents, many couples become experts at planning – scheduling the birthing classes, planning the new nursery, even picking out a preschool. There is so much to think about before you welcome your new child.
Unfortunately, one of the most important things you can do to protect your child is often overlooked: an estate plan. Here are five important considerations you need to discuss with your Personal Family Lawyer® when setting up an estate plan once your new baby is born:
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by admin | Apr 17, 2013 | Weekly Articles
What We Can Learn From Downton Abbey About Estate Planning
Downton Abbey – the PBS drama about the fortunes and misfortunes of an aristocratic British family in the early 20th century that has taken American audiences by storm – gets most of its gripping plot twists as the result of a number of bad estate planning moves. For example (Spoiler Alert: these include references to Season 3 that recently concluded):
Protect your inheritance. The Earl of Grantham inherits Downton Abbey and marries a rich American to keep the estate solvent. However, he squanders the family fortune on an unwise overseas investment that goes belly up. The family turns to Lady Grantham’s rich American mother, but she is unable to help since her fortune is tied up in a trust.
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by admin | Apr 17, 2013 | Weekly Articles
There have been a number of new rules and services implemented by the Social Security Administration for 2013 that affect a majority of American workers as well as retirees:
Expiration of the payroll tax cut. Workers may have already noticed the hit their paychecks took this year due to the expiration of the payroll tax cut, which went from 4.2 percent to 6.2 percent on earnings of less than $113,700 (increased from $110,100 in 2012).
Paper checks to stop. On March 1, paper Social Security checks will no longer be sent to benefits recipients. Instead, you will need to choose between two options: direct deposit to a bank or credit union account or a prepaid Direct Express Debit MasterCard.
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