Young families face different estate planning needs and challenges than those who have had a long life behind them. While established families may be concerned about what will happen to their family when they pass on, young, growing families can be more focused on what is happening to their family in the present. And you even may find it hard …
Financial aid is a valuable resource for students and their families. And sending a child off to college is one of life’s biggest (and often most expensive!) events. Unfortunately, certain assets may adversely affect student financial aid eligibility. That’s why careful financial planning is particularly important for families with college-age children. Federal financial aid eligibility is calculated using many variables …
Millennials are taking their places at office desks around the nation. This burgeoning generation is just starting out, which means changes for family businesses with millennial family members who stand to inherit the family business. Of course, this scenario raises certain concerns for baby-boomer business owners as they look to the next generation of workers. According to Patricia M. Soldano …
Decisions about your health care are some of the most important you will ever make. Don’t put off making plans until you are unable to assert your wishes. Including health care documents in your estate plan can ensure your decisions are always your choice, even if you cannot speak for yourself. Health care documents that clearly state your wishes should …
Caring for an aging parent is a common challenge for Baby Boomers, and now even Gen-X’ers and Millennials. And, stepping in to help manage your parents’ finances, without eroding their sense of independence and privacy, can be tricky. Many aging parents are reluctant to ask their children for help with their finances. It means a loss of control, a trading …
Yolofsky Law, P.A. is pleased to announce our feature in the January 31 edition of US News & World Report. The article, written by Geoff Williams, highlights common financial errors that can land you into legal trouble. A few financially-wise tips from AJ Yolofsky: Never mix business and personal expenses, which could leave your personal assets liable and aggravate the IRS. If you loan …
Blended families, unmarried couples, assistive reproductive technology (ART) and same-sex unions and marriages challenge the traditional concept of “family” as it’s been known for legal purposes up until now. Significant changes in the way we define family culturally means more families are left without the valuable protection they need, in the event of a death or incapacity of a loved …
If your pet is beloved as a family member, you likely want to ensure that he or she will be well cared for in the event of your incapacity or death. Without explicitly stated wishes, these furry family members could end up without a home of their own, if you die or become unable to care for them. To prevent …
As the average parenting age in the U.S. continues to rise, many middle-aged Americans move into a category known as the “sandwich generation.” So, exactly what is the sandwich generation? It’s a growing population of adults who become caregivers for their aging parents while they are still raising their own kids. The Rising Numbers of Sandwich Generation Caregivers According to …
Even after death, celebrities are highly publicized for their mistakes, many of which we make ourselves. This time last year, superstar musician Prince died suddenly, leaving no will, and the management of his substantial estate fraught with legal complications and added costs. It’s easy to assume that the wealthiest among us have all their ducks in a row, but it’s …
