Extra Social Security Benefits for Divorced People

February 25, 2020
Bill O’Leary, Esq.
Asset Protection, Elder Law, Estate Planning, Power of Attorney, Probate and Estate/Trust Administration

While it's not the best idea to expect your benefits alone to support you in retirement (after all, Social Security is only designed to replace around 40% of your pre-retirement income), some retirees have no other option but to depend on their monthly checks to cover the majority of their expenses.

This Husband Made Sure his Wife Would get Flowers on Valentine’s Day — Even Long After his Death

February 25, 2020
Bill O’Leary, Esq.
Elder Law

This Husband Made Sure his Wife Would get Flowers on Valentine's Day- Even Long After his Death. It's not an uncommon thing to think of the future. Here are two stories where loving husbands made plans to let their brides…

Avoiding Probate with a Trust

February 24, 2020
Bill O’Leary, Esq.
Asset Protection, Elder Law, Estate Planning, Life Insurance, Power of Attorney, Probate and Estate/Trust Administration

In other words, family members who are not named to inherit anything in the will may still see the list of all of the assets. If you don’t want that result, you can avoid it by establishing a trust.

Estate Planning for Unmarried Couples

February 21, 2020
Bill O’Leary, Esq.
Asset Protection, Estate Planning, Power of Attorney, Probate and Estate/Trust Administration

The number of unmarried couples who live together reached 18 million in 2016, a 29% jump from 14 million in 2007. Among adults age 50 and older, the increase was 75%: About four million were cohabiting in 2016, up from 2.3 million in 2007.

Fixing an Estate Plan Mistake

February 20, 2020
Bill O’Leary, Esq.
Asset Protection, Elder Law, Estate Planning, Power of Attorney, Probate and Estate/Trust Administration

Sometimes, despite best intentions and best efforts, an estate plan leaves unintended problems for heirs, trustees and others to solve. For example, a trust may have become outdated because of changes in tax laws, the birth or death of family members, or special circumstances like an heir’s disability.

How Does a Bull Market Affect My Estate Plan?

2019 was a wild year in the market, but in the end the Dow ended up 23 percent year over year. The S&P 500 went up 29 percent over the year, and the Nasdaq climbed 36 percent. In fact, the market is up about 60 percent since Donald Trump was elected President of the United States. Those are some pretty impressive gains.

Will New Tool Help Dementia Patients and Their Doctors?

Long-term care providers could soon have access to a newly developed tool that can accurately predict the life expectancy of dementia patients.

Unintended Kiddie Tax Change Fixed in the SECURE Act

The kiddie tax was created long ago to prevent wealthy parents from cutting their taxes by transferring a large amount of investments to their dependent children, who would be taxed at a lower rate.

When Do I Need an Elder Law Attorney?

February 14, 2020
Bill O’Leary, Esq.
Asset Protection, Elder Law, Estate Planning, Guardianship, Long-Term Care Planning, Power of Attorney, Probate and Estate/Trust Administration

Elder law issues can be complex. One wrong word or move can mean the difference between a good result and disaster should you become incapacitated or if other unexpected issues should occur in your senior years. An elder law attorney can help you plan for what will happen, if you should become mentally or physically incapable of taking care of yourself and your own personal business matters.

What Important Dates Does a Retiree Need to Circle?

The start of a new year—and a new decade, to boot—is a great time to assess your financial situation and look ahead. You’ll want to consider moves for the long term, but it’s also critical to pay attention to the details in the short-term, so you don’t miss an important deadline.