Making smart decisions in times of panic may not be easy, but for those who can keep a cool head and follow a plan, there are some calculated steps you can take towards growing your wealth despite the situation. Now, and for generations to come.
The headlines over the past months have been riddled with two serious threats to the health and well-being of people across the U.S. The first and obvious threat is the novel coronavirus (COVID-19) outbreak. The other obvious danger is the stock market, which entered bear market territory for the first time in 11 years.
The 7 Questions you should consider to avoid confusion or conflict after your death. If you have ever considered how you want your estate to be distributed after you die. Hopefully, you’ve written a will to make sure your wishes will be followed. If not, let’s talk!
Assuming you do have a Will, your estate is planned…right?
While most of us would like to think that estate planning is that simple, there are other things to consider as part of the process, and topics that need to be revisited over time. Sometimes, your life changes. Sometimes, the law changes.
When you die, your executor will typically have more than 100 tasks to handle to settle your estate. Which means anything you can do in advance to add clarity and lessen the burden of that person’s work is always a good idea.
Here is a list of seven things to consider, when making sure your estate has a plan in place:
If your financial situation has hit a rough spot, there are several things you can do to get your retirement plan moving in the right direction again.
Does it feel like the coronavirus pandemic has pushed all your retirement plans by the wayside? If you recently lost your job or had a reduction in income, you may not be thinking about your long-term future and retirement plans. You may only be focused on surviving from one day to the next.
Regardless of your current situation, all is lost when it comes to retirement planning.
You can get things moving in the right direction again. While there are no easy answers or quick fixes in these uncertain times, there are a few ways you can shore up your retirement plan and get it back on track. Here are some things to consider.
Many questions are being asked as the coronavirus crisis confronts our communities, raising uncertainty, isolation, and the risk of illness. During this health crisis, we are all concerned with ensuring that we will receive the medical care we need and want.
Here at Tacoma Elder Care we want to provide you with some important tips to ensure you will be prepared regardless of what might happen to you or your loved ones.
What is a Qualified Opportunity Fund and How Does It Work?
To defer a capital gain, a taxpayer has 180 days from the date of the sale or exchange of appreciated property to invest the realized capital gain dollars into a Qualified Opportunity Zone (QOZ) Fund. The fund then invests in QOZ Property.
QOZs are designed to spur economic development by providing tax incentives for investors who invest new capital in businesses operating in one or more QOZs.
The IRS recently issued Notice 2020-39, which offers relief to both qualified opportunity zone funds (“QOFs”) and persons seeking to invest in QOFs who are affected by the global COVID-19 pandemic.
Bob Michaels is extremely passionate about providing the best possible legal experience for his clients, and focuses his practice on elder law, estate planning, business, and real estate matters. Bob has been able to provide piece of mind and a solid foundation to many folks in the Puget Sound area over the years and wants to provide resources and relevant information whenever he can. For more information on how Bob can help your loved ones through these troubling times, contact Bob to schedule a FREE consultation.
Sian-Pierre Regis, 35, is used to living with roommates. For the past 10 years he has split the rent on his apartment with two to three friends. But in June, he’s getting a co-tenant of a different sort: his 78-year-old mother, Rebecca. A situation neither of them ever expected would happen.
Rebecca has been able to live off her slim retirement savings and part-time work, but when the coronavirus pandemic hit, she found herself out of work, and at the end of May the lease on her subsidized housing expired making it impossible for her to pay her rent.
Mr. Regis is one of the growing number of millennials who are supporting their parents financially and, in some cases, giving them a place to live.