Our estate planning process is more effective than “typical” estate planning and more successful!
When you typically think of calling up your estate planning firm you might think you will need to speak directly to the attorney to get your questions answered, and you will be paying for billable time. At Family Estate Planning Law Group, we have completely flipped this stereotype on its head. Our process is comprised of three essential elements: a team approach, flat price billing, and ongoing client care.Read More
It can seem complicated, you may even be skeptical about it, but online banking isn’t only easier – it can actually gain much more money for you.
With the dawn of cybersecurity becoming more necessary sometimes than physical security, the concept of online banking can seem really daunting to some. It seems as though everyone is touched to some extent by online scams, identity theft, etc. If it hasn’t happened to you already, perhaps it happened to someone you know. Even if you’re not necessarily concerned about your online security, many are daunted by the complicated nature of online banking.Read More
For retirees in a financial tight spot, a home equity line of credit or borrowing against an existing home equity line of credit can provide a short-term solution. If you are at least 62 with a home that is not heavily mortgaged, a reverse mortgage is another option.
A reverse mortgage gives you tax-free cash. No repayments are due, until you die or move out of the house.
However, these loans are expensive. In addition, reverse mortgages aren’t for those people who want to give their home to heirs, because most or all of the home’s equity may be eaten up by the loan principal and interest.
Fed Week’s recent article entitled “Considerations for Borrowing in Retirement” explains that reverse mortgages work best for seniors who need cash, who want to stay in their homes and who have few other options.
These HECM reverse mortgage loans are insured by the Federal Housing Administration (FHA). They let homeowners convert their home equity into cash with no monthly mortgage payments.Read More
In the year 2019, Millennials are between 23-38 years old. This generation have often been criticized for not taking on the responsibilities of older generations at the same age, as they have in the past. I may be particularly biased, but as millennial myself I, do not necessarily disagree, however the answer to this question of a collective generational immaturity is more nuanced than a simple ‘yes’ or ‘no’.Read More
Things got a little bogged down for the SECURE Act (Setting Every Community Up for Retirement Enhancement, H.R. 1994, but it’s still pending, and is expected to be passed. It’s impossible to know what final form it will take, but a lot is riding on it.
The SECURE Act proposes a number of changes to retirement savings. These include changes to parts of IRAs and 401(k)s. Some of the changes look to be common sense, like broadening access to IRAs and 401(k)s, as well as including updating the rules to reflect that retirement is now a longer period of life. However, with these changes come potential limitations with stretch IRAs.Read More