by: Vincent Bonazzoli
On March 27, 2020 the president signed the CARES Act as part of an effort to ease the adverse financial consequences of the COVID-19 pandemic. While a lot of attention has been paid to the unemployment benefits, the payroll protection plan (PPP), and other portions of the CARES Act, the relief Congress provided to those who must take required minimum distributions from their qualified retirement plans (which we’ll call IRAs), and beneficiary or inherited IRAs (which we’ll call inherited IRAs) received very little attention. The CARES Act provides that required minimum distributions have been suspended for the year 2020.Read More
In this infographic, learn how Family Estate Planning Law Group will work with your family to create plan that not only addresses your goals and concerns, now, but one that will take care of your family when it matters most. Click the image to view the full infographic:Read More
Perhaps because of Hollywood or other fictional portrayals—Knives Out being a recent (and fun) cinematic example—wills and inheritances seem to not bring out the best in people. Most people don’t want to think about the potential for a family fight when it comes to planning their estate.
But, as the old saying goes, ‘failing to plan is planning to fail.’ It’s not just planning for animosity or sibling rivalry—what if your wishes aren’t clear? What if your estate goes through probate and causes misunderstandings opening the family to a stressful and public process? Probate is something you can avoid with the right planning, but you have to take care of now to prevent probate from happening through smart planning and communication.Read More
According to agingoptions.com, the number of aging parents living with adult family members is rising dramatically, with between five and six million elderly adults currently living in a household headed by their adult child. This is a 67 percent increase since 2007. While such a living arrangement is often due to economic considerations, others simply have a strong desire to care for those who cared for them. There are many issues to consider when an elderly loved one moves in; one of those issues is making your home accessible. While the specific upgrades you undertake will depend on the health and needs of your loved one, some of the top home renovation suggestions for seniors include:Read More
According to an AARP survey, about 90 percent of American seniors want to live in their own homes as long as possible. Known as “aging in place,” it’s no surprise that most seniors would much prefer living in their own homes as opposed to facility care. Unfortunately, physical or cognitive issues can often make this a difficult option.
Family members who fully understand the benefits associated with aging in place—a sense of independence, better health outcomes, and the comfort that only “home” can provide—may consider an in-home caregiver for their elderly loved one.
Your loved one might benefit from an in-home caregiver for medical needs as well as with assistance in light housekeeping, routine errands, and other daily living activities. Once you have made the decision to hire a caregiver, it is important that you understand how to choose the best in-home caregiver for your elderly loved one.Read More