Around the Web: Understanding the Taxation of Security Benefits
Social Security is a truly wonderful program that distributes nearly 64 million benefit checks to more than 15 million retired workers. These monthly payments also benefit the survivors of deceased workers and those on long-term disability. This is a lifeline many cannot afford to lose. However, many might not realize that your Social Security benefit […]
Around the Web: How to Choose the Right Executor for your Estate
Taking care of loved one’s assets and debts while also grieving their passing is not an easy task. When it is time for you to choose an executor for your estate, there are a few things that would be beneficial to take into consideration. This article by the Washington Post discusses factors that should be […]
The Do-Over: Your Guide to Estate Planning in a Second Marriage
Among people 35 and over, the majority of people who get divorced go on to remarry. The numbers are also growing: 57% of people aged 35 to 44 whose first marriages end go on to enter a second marriage, and 63% of those 45 to 54 do the same. Even half of all people 65 and older […]
Around the Web – Beneficiary Designations that Can Cause Issues
There are many different issues to take into account while making your estate plan, specifically when it comes to beneficiary designations. This article by Forbes highlights seven of the most common issues that can really impact your plan if your beneficiaries were not carefully chosen. While it may seem like a simple task, but there […]
A Legal Guide to Long-Term Care Planning
According to the Longtermcare.gov the average cost of a nursing home is $6,844 per month for a semi-private room $7,698 per month for a private room. Many elderly individuals are not thinking about how to pay for long-term care. However, the cost of long-term care requires proactive planning to ensure that you have the resources you need to […]
Around the Web: Dos and Don’ts of Estate Planning
Talking about you or your loved ones’ inevitable passing can be uncomfortable, but it is necessary in planning your estate. It is very important to discuss your assets and estate plan so that when you do pass, the people who are closest to you won’t have added difficulty on top of their grief. This article […]
Pledging Donations with Donor Advised Funds
You know what they say — giving is better than receiving. That might be why donor advised funds, or DAFs, rocketed past $100 billion for the first time in recent years. Want to give but don’t know if a donor advised fund is right for you? Have questions about charitable planning? There are many things to know before pledging […]
Around the Web: Estate Planning for the Average Person
The Tax Cuts and Jobs Act law created sweeping changes to the income tax system in 2018, but it also impacted federal estate and gift taxes. For high-net-worth planners, the impacts were simple in terms of legislation. However, the implications of the large increase in the estate and gift tax exemption are complex and affect […]
7 Things Financial Advisors Want You to Know About Giving to Charity
It is interesting to note that fewer Americans are giving to charity, yet the dollar amount is at an all-time high. According to the Giving USA 2019 report, in 2018, there was a $20 billion increase from slightly over $400 billion donated in 2017. The donations mostly went to environmental causes, higher education institutions and disaster […]
Client Testimonial – Jeff Annis
At Rhodes Law Firm, we’re focused on providing our clients the best possible service regarding personal estate planning, as well as business planning and asset protection. One of our clients, Jeff Annis of Advanced Services Pest Control, talks about the important of having business plans in place and his experience with our firm. If you […]