With a new year upon us, it is always good to set an attainable New Year’s resolution. With that in mind, we look back on a blog article from January 5, 2019. According to a Caring.com survey, only 42 percent of adults have even a simple will, and for those with minor children, the statistic is even worse-only 36 percent. Estate Plans should also be reviewed occasionally to determine if updates are needed. Don’t put it off any longer. For the sake of your loved ones, put an effective estate plan in place.
Ohio has long recognized premarital agreements. A premarital agreement is a legal contract entered prior to marriage and in contemplation of marriage by two individuals to address the ownership and division of their property and property interests in the event of death or divorce. However, Ohio is in the minority in that Ohio has historically not allowed postnuptial agreements, which are agreements entered into between spouses after they are married. […]
The president recently signed into law the Secure Act, which goes into effect on January 1, 2020, and which is an acronym for Setting Every Community Up for Retirement Enhancement Act. As the name suggests, the focus of the secure act is on retirement planning, but has several provisions. These provisions include raising the age for required minimum distributions of IRAs and 401Ks from 70 to 72; allowing working individuals to make contributions to IRAs after age 70 ½; allowing small businesses to join group 401K plans; allowing 401K plans to include annuities; and allowing 529 plans to repay up to $10,000 in student loans. […]
With the population of senior citizens increasing at a rapid rate, so is the prevalence of elder abuse. It is important to understand what constitutes elder abuse, looking for signs of elder abuse, who must report elder abuse and what you can do to help. Elder abuse is knowingly or negligently causing harm or a serious risk of harm to a vulnerable adult. Elder abuse includes neglect (where basic needs aren;t being met), exploitation (usually financial), physical abuse, emotional abuse and sexual abuse. READ MORE…
Back in 2016, then Ohio Treasurer Josh Mandel announced a new program called STABLE, which created a new type of investment account that had certain tax advantages, and was available to disabled Ohioans and their families. Ohio was the first state to create such a program, and it has since been expanded to residents of all states…READ MORE.