Category Archives: Estate Planning

This Retirement Strategy Creates Steady Income if You Don’t Have a Pension

The “legs” of the commonly referred to stool of retirement planning were the three traditional income streams: Social Security; pensions and personal savings. In this day and age this analogy may be outdated. Financial planners and other investment professionals are….. To continue reading this legal news please click Read full information...

Posted in Estate Planning | Tagged , , , , , , , | Leave a comment

What Your Medical Bills Really Say About Your Injuries

A lot depends on your medical bills. Your doctors, hospitals, therapists, pharmacies, and other health care professionals can’t get paid unless the bills are accurate. Medical bills are a key factor in determining the amount of your pain and suffering award. Often insurance adjustors and defense lawyers base their settlement offers on a multiplier of the medical bills. The problem is that many times it is hard to understand what the bill actually means. A lot of what gets written on the bill is for the insurance companies rather than the patient. A good Florida car accident and personal injury lawyer reviews the medical bills for accuracy and completeness. According to  Healthcare in America , many medial bills have some type of error in them. These errors need correction if accident victims are to get what they justly deserve. What is an explanation of benefits letter? Accident victims normally receive two types of documents – a balance due bill and a formal….. To continue reading this legal news please click Read full information...

Posted in Estate Planning | Tagged , , , , | Leave a comment

A Year-End Estate and Financial Planning Checklist: Make Your List and Check it Twice

With so much going on during the holiday season, it may seem more stressful to think about review your estate plan. Here is a simplified list to assist, and not interfere with presents and champagne. Review required minimum distributions (RMDs)…... To continue reading this legal news please click Read full information...

Posted in Estate Planning | Tagged , , , , , , , | Leave a comment

2019 IRS Contribution Limits for 401k, 403(b) and IRA Retirement Accounts

The IRS recently announced the new cost of living adjustments to the annual limits on retirement contributions for 2019.  These are the limits that outline the amount of money you can contribute to certain tax benefited retirement plans.  This can and should affect how you formulate your Tennessee estate and retirement planning.  A really good strategy for long term estate planning is to make sure a significant portion of your assets are in these tax advantaged accounts.   The new 2019 annual limits for contributions to a 401(k), 403(b), most 457 plans and the federal government Thrift Savings Plan increases for 2019 to $19,000.00.  This is the first change we have had in a few years and it is certainly good news for retirement savers.  The annual catchup contribution allowance for these plans, available to those over 50, stands at $6,000.00 for 2019.   As a result, someone over the age of 50 can contribute $25,000.00 annually to their….. To continue reading this legal news please click Read full information...

Posted in Estate Planning | Tagged , , , , , , | Leave a comment

Power of Attorney For Children in College

You may still see your 18-year-old son or daughter as a child, but the law considers them an adult. This means that you could lose some of your rights as a parent, such as the right to access their medical information. For children heading off to college, or any other kid that’s turned 18, estate planning documents can help in these situations. Without these documents, you may not be able to help or receive information about your child if an accident or illness renders them incapacitated. Medical Power of Attorney Medical professionals are often cautious about discussing protected information with people other than the patient, even when they are family members. Make their decision easier by having your adult child complete a medical power of attorney. You can be named the healthcare agent who can make medical decisions on your child’s behalf if they are unable to communicate their wishes. HIPAA Authorization A medical power of attorney may be enough to get a doctor….. To continue reading this legal news please click Read full information...

Posted in Estate Planning | Tagged , , , | Leave a comment