No, we won't be your personal shoppers, but whether you celebrate Christmas, Hanukkah, Kwanzaa, Festivus, or the Winter Solstice, we wish you all the best of the upcoming holiday season. But, these can be stressful times as well as joyful ones. Too often the scramble of the holiday preparations gets piled on top of our everyday worries and cares - and this year in particular, our stress levels are high.
Let the caring staff at Pruitt Law Offices, SC relieve some of that nagging worry. Whether your concern is updating your will or health care power of attorney, reviewing your parents" estate planning, seeking a placement or support change for your child, or getting bankruptcy help, contact us today so you can start the new year with less worry. Schedule a consultation with the attorneys at with us today!
PRUITT ZABKOWICZ S.C. SERVICE AREAS
THE HOLIDAY SEASON: LET US HELP
We here at Pruitt Law Offices would like to wish everyone out there and their families a happy and healthy Thanksgiving. We understand that times are a little different than in years past, and we would like everyone to be as safe and healthy as possible. For those of you who have relatives or loved ones residing in assisted living facilities or long term-care facilities, please make sure you give them a call if you are unable to visit with them.
Many of these older individuals are suffering from loneliness due to the COVID-19 pandemic, and any support that you can share makes quite a difference. Often times these individuals lack advanced planning documents, including financial and health care powers of attorney. If you or a loved one needs assistance with long term care or you would like to update your estate planning documents, please contact us today!
By Sally Hoelzel
By John Zabkowicz
The end of the year always seems to creep up on us, but this year it cannot come soon enough! 2020 has been a year of change and challenge: a year of new experiences and lessons learned. We are working, studying and worshiping remotely. We have participated in virtual book clubs, wine tastings, play dates and fundraisers. We have been reminded this year of the importance of being prepared for whatever the future may bring. We have been reminded that our loved ones must not be taken the granted.
Whatever planning or changes you for the new year to come - be that financial or healthcare planning, a home sale or purchase, or a child related issues - we are here to help. Rest assured we have protocols in place to proect both you and our staff during this time. We are able to be flexible in the way we meet with you : in person in our designated guest space, by video conference, or by phone.
NEW YEAR FAST APPROACHING
By Sally Hoelzel
Early last year I wrote an article about a new law that came into effect that substantially changed the rules regarding your retirement accounts. This Act, known as the SECURE ACT, had two major changes: First, the Act changed the age year from which you must take your first required minimum distribution (RMD) from 70.5 to 72.
The second important change the Act made is that account holder beneficiaries are no longer able to “stretch” out their inherited IRAs over their own lifetimes. In other words, once an account holder passes away, any non-spousal beneficiary has only up to ten years to withdraw the assets from that retirement account. Just two weeks ago, the House Ways and Means Committee approved the SECURE ACT 2.0 in Congress and it is expected to pass Congress within the next year. The updated version of the SECURE ACT will make further changes to the retirement account landscape. Schedule a consultation with the attorneys at with us today!
IMPORTANT CHANGES TO YOUR RETIREMENT ACCOUNTS ARE COMING AGAIN
By John Zabkowicz
When you have multiple beneficiaries a trust can be easier to distribute your assets than the traditional beneficiary listing on accounts and life insurance. Also, if you have minor beneficiaries, or beneficiaries with spendthrift issues, a trust will allow you to dictate the terms of distribution for each particular beneficiary.
If you have unique assets totaling over $50,000 in the State of Wisconsin, then a trust is a better means for distribution of those assets. These types of assets could include vehicles, boats, businesses, and other items with titles. If you’re planning on moving to another state, or own property in multiple states, a trust allows you to avoid probate in multiple states. A trust is a private document that stays out of the court system easier. For all of these reasons, trusts may have significant advantages over the traditional will for many families. We are your partners for professional service.
WHEN IS A TRUST NEEDED?
By James Pruitt
Fathers, whether living with their children full time or not, are important. Studies show that children who grow up with involved fathers are more likely to do well in school, more likely to go on to college, less likely to experience a teen birth, and less likely to spend time in jail. Girls tend to model their relationships with others on their relationship with their father. Boys model themselves after their fathers. That's important stuff! Let’s celebrate that on Father’s Day!
If you are a dad not living in an intact family, you most likely have a court order that governs your rights and responsibilities to your children. Do you believe a change in that order is appropriate? Are you feeling shut out of your child's life? Do you feel the mother or guardian is standing in your way? Or maybe you just need help navigating the complex family law system? Whatever the issue, I can help. Contact the Pruitt Law Offices S.C. for a phone, video, or in-person appointment.
HAPPY FATHER'S DAY
By Sally Hoelzel
Often I have clients asking me what they should do if they would like to leave an inheritance for a relative who is on public benefits such as SSI or Medicaid. What do I recommend? The Wispact Special Needs Trust. The Wispact Special Needs Trust is a community pooled Trust that allows a beneficiary to keep assets in trust for his/her benefit while still maintaining their public benefits (such as SSI or Medicaid).
There are two types of Wispact Trusts: The self-funded trust and the third-party trust. The self-funded trust can be created by a parent, grandparent or beneficiary, but is funded with assets of the beneficiary. The third-party trust is created by a parent, grandparent or other relative (not by the beneficiary) and is funded with assets that do not belong to the beneficiary. For more information on the Wispact Special Needs Trust, please contact Pruitt Law Offices S.C. for a phone, video, or in-person appointment.
THE WISPACT SPECIAL NEEDS TRUST
By John Zabkowicz
The 4 th of July is a time for taking pride in and celebrating our freedoms and liberties, this year more than ever. Freedoms and liberties, however, do not exist without corresponding laws and restrictions. Such is the make-up of a civilized society. While many laws are the same state-wide (drunk driving and drinking age restrictions, for example), others are more county, city, or village specific (fireworks and noise restrictions).
Know the laws in your area and follow them. Know your neighborhood as well and be considerate of your neighbors, particularly during your evening and night-time celebrations. At Pruitt Law Offices S.C., we hope you all have a safe and happy 4 th of July. However, if you end up being the victim of someone else’s dumb decision – or your own – contact Pruitt Law Offices S.C. for help. For a phone, video, or in-person appointment.
HAVE A SAFE (AND LAWFUL) 4TH OF JULY
By Sally Hoelzel
There is a reason to update your healthcare power of attorney (HCPOA) because there have been many changes over the years. Often the documents at healthcare clinics do not have some of the significant changes that you need to have. For example, make sure that your HCPOA has a DNR provision in it. Also, the HIPAA privacy law exception should be contained within the framework. These documents should provide for long term care in a nursing home or CBRF and not just short-term care. Such a change avoids the need for a guardianship in the court system.
Furthermore, it is important to have a legally drafted HCPOA to ensure that your agent can make the decision instead of the medical staff. There has even been a recent change to the declaration allowing nurse practitioners and physician’s assistants to make the determinations of incapacity as well as two doctors. Contact the Pruitt Law Offices S.C. if you need help with this.