November 2014 Archives

Hey, Let's Talk About Death!

No one really wants to talk about death. But physical death is inevitable, for everyone. The death of a spouse, family member or close friend brings a deep sadness as the complications of grieving begin. At such a difficult time when you are experiencing the emotional, mental and physical lethargy that comes with such an experience of loss, there is the added strain of having to be mentally centered to make, what seems to be, endless decisions such as: Notification of family and friends, taking care of funeral arrangements, scheduling religious visitation, making arrangements for out-of-town guests, ordering death certificates, and handling immediate financial issues. 

Millennials Don't Know How to Save

People younger than 35 are not saving money, according to a study by Moody's Analytics. In fact, their savings rate has dipped to negative 2%, meaning that they're spending more than they have. They're the only age group that has a negative savings rate. In contrast, workers between the ages of 35 and 44 have a positive savings rate of about 3%. 

Business Owners and Rising Taxes

As changes to the American Taxpayer Relief Act and the Affordable Care Act of 2012 become effective, business owners are facing escalating tax rates. Insightful enterprises are employing wealth management strategies to counteract the cost. Continual planning is essential for finding opportunities that will reduce the financial burden. Several options exist to help corporations retain wealth and reduce taxes legally. 

Happy Birthday! So, How Well Are You Driving Lately?

Every day in America, roughly 10,000 people turn age 65. To help keep roadways safe as America grays and to help preserve the freedom of mobility of older drivers, researchers at University of California, San Diego School of Medicine are training law enforcement officers to recognize warning signs of impaired driving skills and to take appropriate, compassionate action. They are also training doctors to think more about their patients' ability to drive safely with age. 

Take Aim and Include Your Firearm Collection in Your Estate Planning

For those who have valuable weapons or collect firearms, how the guns should be handled after the owner's death can be a concern. If heirs are not experienced, they may fall afoul of state and federal laws concerning safe storage and legal transfer of weapons. Or they might be taken advantage of when it comes time to sell. 

Documents Needed in Estate Planning

A well-planned estate is a wonderful legacy you can leave your heirs - instead of untangling a messy estate, they can follow concrete steps, allowing them to take care of business while mourning their loved one. Last week was National Estate Planning Week - a reminder to do estate planning. You should consult with and hire a qualified estate attorney to help you through the process, estate settlement requires a lot of work from the executor, so be prepared! 

A Quick Look at Grantor Trusts

Some advisers are moving low-basis assets out of the trusts by swapping in high-basis assets. For years wealthy investors have used grantor trusts to minimize their potential federal estate taxes. But today those same investors now have to worry about the growing income-tax liability the trusts are generating. As a result, some financial advisers say planning for income taxes has caused some rethinking regarding how to best use the trusts, specifically the intentionally defective grantor trust and grantor-retained annuity trust. 

You Can Forget about Estate Planning Mistakes!

The good thing about making mistakes when it comes to estate planning is that you won't be around to suffer the consequences. The downside is that your loved ones could be subjected to further pain. To prevent you and your family members from enduring more stress, misery or confusion than necessary, here are five estate-planning booboos to avoid, according to an author. 

Silly Questions? Not When It Comes to Your Will

It's something parents shudder to think about: a will. That's probably why more than half of Americans with children do not have a legal will. Parents love their children, and the concept of dying and not being there for their children is simply not an option they consider. Establishing a will is a vital part of protecting your financial legacy and there is no benefit in delaying it. 

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3 Easy Steps To Protect Your "Stuff" This workshop addresses frequently asked questions and common misconceptions on Wills & Trusts, Asset Protection, Nursing Home Issues, and Medicaid Qualification.

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ESTATE PLANNING LAW GROUP OF GEORGIA,

Johns Creek Office
11555 Medlock Bridge Road, Suite 100
Johns Creek, GA 30097

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Phone: 770-822-2723
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Lawrenceville, GA 30043

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