(Gaithersburg, MD) Delray, FL May 02, 2020: Mindy Felinton, founder of Felinton Elder Law & Estate Planning Centers, has posted a new article on her law firm’s website entitled “How Many Of The 41,155 People Who Died In The U.S. Of COVID19 Were Prepared.” Ms. Felinton’s best guess is that not many of those who died had their affairs in order. 

Mindy Felinton

Felinton writes, “While many of the 41,155 people who have died to date in the U.S. from COVID19 since early March were elderly, many of them were not.” She goes on to add, “How many of those dearly departed souls were prepared to take leave of this life, I cannot say. But, I’m willing to guess that many of them did not have wills, estate plans or any legal plans in place.” “As a result,” Felinton says, “once this pandemic dies down and the surviving loved ones are able to start sorting things out, they are more than likely going to be faced with a legal mess to untangle.”

“While life as we know it is disrupted, we don’t know exactly when we will be able to move about without being aware of social distancing again,” Felinton writes. She continues, “Until that time, caution is key. Even though you may be getting “cabin fever” or going “stir crazy” it’s better than the alternative. And while everyone is proposing all kinds of activities from learning how to play musical instruments or to speak a new language, I’d be more inclined to suggest taking steps to get legal plans filed.”

According to Felinton, “Having legal plans in place if you have minor children is integral. If you should get the virus and not recover do you know who will tend to your minor children’s needs? If you are a single parent, who will take care of your minor children? These are important decisions that must be made and it’s best to make them while you are healthy and of sound mind.”

Felinton writes, “This is also a time to focus on your elderly parents and loved ones. It’s a good time to suggest a review of their legal plans and to find out if they have designated a Financial Power of Attorney or a Health Care Power of Attorney. Many people who believe they don’t have much stuff or money, think they don’t need any legal planss. But most people have more things of value than they know.”

The entire article can be read at https://www.felintonlaw.com/how-many-of-the-41155-people-whove-died-in-the-u-s-of-covid19-were-prepared/

About Mindy Felinton

From a young age, Mindy wanted to be the voice that would make an impact in people’s lives.   She became an attorney and has practiced law for over 30 years, so that she could fulfill her desire to help others.  As a special prosecutor, Mindy defended the underdog (literally) in cases of animal abuse.  As a state attorney in Florida she fought for justice. During the last 25 years, Mindy met many wonderful people who did not know their rights, did not understand the law, and did not know what options were available. She made a decision to focus her practice on Elder Law, Medicaid, Veterans’ benefits, and Estate Planning.  Thus she is able to guide her clients through those difficult and sometimes overwhelming processes.

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(Gaithersburg, MD) Delray, FL April 30, 2020: Mindy Felinton, founder of Felinton Elder Law & Estate Planning Centers, has posted a new article on her law firm’s website entitled “The COVID19 Death Toll Rises Among The Young.” Ms. Felinton shares information out of Mt. Sinai Hospital about strokes associated with COVID 19 killing younger adults.

Mindy Felinton

Felinton writes, “The devastating loss of life around the world due to COVID19 is unfathomable.” She continues, “In the U.S., to date there have been close to 1 million confirmed cases of COVID19. While the majority of those people have recovered, more than 54,000 people have died so far.”

“I can’t imagine the sadness and grief the loved ones are experiencing now,” Felinton says. She adds, “They cannot have a funeral or any kind of service to honor the lives of the dearly departed. The age of those who have lost their lives to this devastating virus range from a 6-week old infant to those in their 90s.”

“While it was initially thought that only older adults were susceptible,” Felinton writes adding, “that has been totally dismissed as younger, healthier people are being felled by this virus. In a WashingtonPost.com article about the number of strokes associated with COVID19, as seen at Mt. Sinai hospital  it was stated, “In a letter to be published in the New England Journal of Medicine next week, the Mount Sinai team details five case studies of young patients who had strokes at home from March 23 to April 7…The victims’ ages are 33, 37, 39 44 and 49, and they were all home when they began to experience sudden symptoms, including slurred speech, confusion, drooping on one side of the face and a dead feeling in one arm. One died, two are still hospitalized, one was released to rehabilitation, and one was released home to the care of his brother. Only one of the five, a 33-year-old woman, is able to speak.” https://www.washingtonpost.com/health/2020/04/24/strokes-coronavirus-young-patients/?outputType=amp&fbclid=IwAR2qW2S6JEC0uwzQMfh5QhyU9pt5oAglZ0yVIQj38snf8tJ6RIwYlM5A8lw

According to Felinton, “Many of the younger adults suffering stroke symptoms are not going to the hospitals which are already overburdened. However, now that it’s clear that stroke symptoms are related to COVID19, it’s important to get to a hospital right away. According to the Mt. Sinai team as reported in the Washington Post article, “The most important thing for people to understand is that large strokes are very treatable.”

The entire article can be read at https://www.felintonlaw.com/the-covid19-death-toll-rises-among-the-young/

About Mindy Felinton

From a young age, Mindy wanted to be the voice that would make an impact in people’s lives.   She became an attorney and has practiced law for over 30 years, so that she could fulfill her desire to help others.  As a special prosecutor, Mindy defended the underdog (literally) in cases of animal abuse.  As a state attorney in Florida she fought for justice. During the last 25 years, Mindy met many wonderful people who did not know their rights, did not understand the law, and did not know what options were available. She made a decision to focus her practice on Elder Law, Medicaid, Veterans’ benefits, and Estate Planning.  Thus she is able to guide her clients through those difficult and sometimes overwhelming processes.

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(Gaithersburg, MD) Delray, FL April 27, 2020: Mindy Felinton, founder of Felinton Elder Law & Estate Planning Centers, has posted a new article on her law firm’s website entitled “Your Retirement Plan Is Not Your Kid’s Education Plan.” Ms. Felinton writes, “I don’t often do this, but in this one area I am going to make an unequivocal statement: Don’t even think about using your retirement plan to fund your kids’ college education.”

Mindy Felinton

She is ready and seems to know readers will respond with a wondering “why”?  She elaborates, “Well, there are numerous reasons. The most important being that you want your kids to become financially responsible and independent. And, equally important, you want to be able to retire comfortably.”

Felinton goes on to write, “Here are a few more good reasons to add to your list. There are actually ways that paying for your kids college with a tax-advantaged employer retirement plan can really hurt you.” “For instance,” she explains, “if you withdraw anything from your retirement plan before you reach 59 ½ years of age, you’ll be hit with a 10% tax penalty. You’ll also get hit with a tax bill for the tax year in which you make the withdrawal since that money is counted as income.”

“Your kids’ education is important,” says Felinton, adding, “and so is your retirement. It’s important to educate yourself to the many other financial ways of helping your kid get an education.”

Felinton writes, “According to a recent survey by Sallie Mae, one of the nation’s largest student loan lenders, about one-third of Americans with kids under 18 say they plan to use retirement savings or “could use if needed” to help pay for their children’s education.” She also explains, “What many parents don’t understand is that by using their retirement savings to help their kids through college may only put more stress on their children when they see their parents struggling financially in retirement.”

The entire article can be read at https://www.felintonlaw.com/your-retirement-plan-is-not-your-kids-education-plan/

About Mindy Felinton

From a young age, Mindy wanted to be the voice that would make an impact in people’s lives.   She became an attorney and has practiced law for over 30 years, so that she could fulfill her desire to help others.  As a special prosecutor, Mindy defended the underdog (literally) in cases of animal abuse.  As a state attorney in Florida she fought for justice. During the last 25 years, Mindy met many wonderful people who did not know their rights, did not understand the law, and did not know what options were available. She made a decision to focus her practice on Elder Law, Medicaid, Veterans’ benefits, and Estate Planning.  Thus she is able to guide her clients through those difficult and sometimes overwhelming processes.

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Would you like to retire confidently?

Are you prepared for retirement?

With 10,000 Baby Boomers reaching retirement age each and every day, the question is, how many of these retirees are well-prepared for retirement and can retire confidently? Every one of these individuals is a unique universe of needs, desires, hopes and dreams. Each is in a different state of health and in different states of financial stability. If you are among these retirement age boomers, keep reading.

Whether You’re Ready or Not to Retire Confidently… Here It Comes

As many research models predict, a majority of retirees will not be prepared for retirement, or especially retire with confidence, especially in light of the astronomical costs of medical care many of them will require. Far too many will be dependent upon Social Security and Medicare benefits. It doesn’t have to be that way. Even if you are close to retirement it’s not too late to establish a plan and to discover many of the programs that can help you have a more comfortable retirement. Also, it’s a known fact that a majority of boomers continue to work beyond retirement age. That can be a good thing if you don’t yet have a plan.

An Elder Care Attorney Has Your Back

Whether you have a plan in place or have yet to establish a plan, a reputable Elder Care Attorney can be of immense help at any stage. Elder law is a very specific area of legal practice with a singular focus. We cover all aspects of Elder Law for aging, illness and incapacity including Medicaid planning, Veterans Benefits, nursing home planning, estate planning, wills, trusts, asset protection, and advocating for our clients. The focus of Elder Care Attorneys is on all the needs of elders as well as disabled clients.

You may think that you don’t have any assets or that your assets are not significant enough to deserve an asset protection plan. I am here to tell you that any and all assets are worth protecting. We can help you take advantage of every program available to you. Many retirees are not aware of, nor do they know how to properly apply for many helpful programs. This is the area of focus for Elder Care Attorneys. Many regular attorneys who people turn to do not have a specific focus in these areas.

You Might Not Be Wealthy But You Want To Retire Confidently With Every Advantage Possible

At Felinton Elder Law, we provide you with an individualized plan for the future, and we protect and preserve the lifetime of savings you and your loved ones have worked so hard to accumulate. Even if you haven’t established a plan, you may still be able to benefit from our services. It’s a new year and a new decade. If you’re still breathing and enjoying life, we could help you relax a little more by reviewing your circumstances and seeing how we can help you retire more confidently and comfortably than you may have imagined. Give us a call today. Unlike many attorneys, we are open on some Saturdays and evenings to make it more convenient for those who still work.

The post Retire Confidently: The Services Of An Elder Care Attorney Can Help appeared first on Felinton Elder Law and Estate Planning Centers.

The SECURE Act is in Effect.

At the end of 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was passed into law. Everyone who has a retirement plan such as an IRA or 401k will be affected by this law as of January 1, 2020.

It may be in your best interest to talk with your financial advisor and/or estate and asset protection advisor to see how this new law affects your plans for the distribution of your assets upon your death. You may want to make some tweaks.

Most affected, in what may be considered a negative way, will be non-spouse inheritors of retirement plans. According to the old law, retirement accounts could be distributed over the lifetime of the non-spouse inheritors. Under the SECURE act, the funds must be distributed within 10 years of the original owners death along with the required taxes.

Allowable Disbursements

Another significant fact is that the new SECURE Act allows expenditures from retirement plans for childcare and other qualified expenses with a year of birth or adoption without the usual penalty. It also allows certain penalty-free withdrawals to pay off student loans. And, importantly, in light of the fact that many people of retirement age are continuing to work, the SECURE Act now allows those saving for retirement to defer required minimum distributions (RMDs) until age 72 instead of age 70 ½ and allows individuals to continue making contributions after age 70 ½ so retirement savings can continue to grow.

If you expect to inherit a retirement account this year or expect any other significant life changes that will affect your retirement account, give us a call to review your estate plan. Reviewing your estate plan is always a great thing to do at the start of a new year.

The post Revisit Your Estate Plan In Light Of New SECURE Act appeared first on Felinton Elder Law and Estate Planning Centers.

Delray Beach, FL. January 27, 2020: Mindy Felinton, founder of Felinton Elder Law & Estate Planning Centers, has posted a new article on her law firm’s website entitled “If You Have An IRA Or 401k You Have An Estate To Legally Protect,” in which Ms. Felinton establishes that everyone, not just the wealthy, has assets to be protected.

As Felinton points out, “Most people typically think someone who has an estate plan is rich and famous with millions of dollars that will be divided among heirs upon death.” She continues, “Images of fighting siblings after the rich parent’s death is a common scene in many movies. However,” she adds, “you don’t have to be among the rich and famous to have an estate nor to have an attorney to protect that estate.”

According to Felinton, “An estate is comprised of assets and most working people have an IRA or an employer provided 401k plan.” She goes on to say that, “If one is diligent and works for a company for many years, one could have tens of thousands or hundreds of thousands of dollars in a retirement account.” “That,” says Felinton, “means you have an “estate.” If you own a home, that’s part of your estate. As your savings grow and your home increases in value, that means your estate is growing in value.” She explains, “What an estate and asset planning attorney does is legally protect assets against anyone who decides they want to try to grab some or all of your assets by filing a lawsuit against you.”

Felinton poses, “Have you ever heard of divorced couples fighting over assets?” She says, “I’m sure you have.” She goes on to elaborate, “Asset protection is not about being unfair. It’s about not letting yourself get into a position to be wiped out financially by someone willing to go to the nth degree to get your money.” Felinton reminds readers, “We live in a very litigious society and it happens every day. People are often looking for a reason to file a lawsuit against someone. You have to be politically correct in so many ways and if you run into a litigious person and say or do the wrong thing at the wrong time, you could potentially be facing a lawsuit.”

The entire article can be read at https://www.felintonlaw.com/if-you-have-an-ira-or-401k-you-have-an-estate-to-legally-protect/

About Mindy Felinton

From a young age, Mindy wanted to be the voice that would make an impact in people’s lives. She became an attorney and has practiced law for over 30 years, so that she could fulfill her desire to help others. As a special prosecutor, Mindy defended the underdog (literally) in cases of animal abuse. As a state attorney in Florida she fought for justice. During the last 25 years, Mindy met many wonderful people who did not know their rights, did not understand the law, and did not know what options were available.

Mindy assists families with Medicaid planning to help with the cost of nursing home care and with obtaining veteran’s benefits to make the cost of care more manageable.   She also prepares wills, trusts, powers of attorney, and medical directives.  Mindy is passionate about educating both other professionals and the public concerning VA Aid & Attendance benefits, Medicaid benefits,  and the use of trusts for the protection of assets.  She shares her experience and professional knowledge through free workshops, and as a frequent lecturer at State Bar Conferences.

The post Felinton Elder Law & Estate Planning Centers Founder, Mindy Felinton Urges Readers To Be Proactive In Protecting Retirement Assets appeared first on Felinton Elder Law and Estate Planning Centers.

A Well Thought Out Estate Plan is Not Just for the Wealthy.

Most people typically think someone who has an estate plan is rich and famous with millions of dollars that will be divided among heirs upon death. Images of fighting siblings after the rich parent’s death is a common scene in many movies. However, you don’t have to be among the rich and famous to have an estate nor to have an attorney to protect that estate.

Your Retirement Account Constitutes Your “Estate”

An estate is comprised of assets and most working people have an IRA or an employer provided 401k plan. If one is diligent and works for a company for many years, one could have tens of thousands or hundreds of thousands of dollars in a retirement account. That means you have an “estate.” If you own a home, that’s part of your estate. As your savings grow and your home increases in value, that means your estate is growing in value. What an estate and asset planning attorney does is legally protect assets against anyone who decides they want to try to grab some or all of your assets by filing a lawsuit against you.

We Live In A Litigious World

Have you ever heard of divorced couples fighting over assets? I’m sure you have. Asset protection is not about being unfair. It’s about not letting yourself get into a position to be wiped out financially by someone willing to go to the nth degree to get your money. We live in a very litigious society and it happens every day. People are often looking for a reason to file a lawsuit against someone. You have to be politically correct in so many ways and if you run into a litigious person and say or do the wrong thing at the wrong time, you could potentially be facing a lawsuit.

Be Proactive

No matter the amount of money in your retirement account, you really need to legally protect it so that it’s there for you when you do retire. It’s important to be proactive instead of waiting until something comes up. In fact, if a lawsuit is filed against you, you will not be able to do anything to protect your assets. It will simply be too late.

Another reason to act sooner rather than later – what would happen if you were to get into an accident or become ill and not be able to function? Waiting for those types of events is not a good idea. Then it’s too late to determine who you would want to handle your affairs or for them to know how you want things to be handled. Most importantly are decisions about your care.

Make 2020 The Year You Set Your Sights On Getting

The new year is a number that is associated with good, clear normal vision. 2020 is a great year to be proactive and set yourself up for success by finding a reputable estate and asset protection attorney to work with. You might even feel richer for having taken this step. And for sure you’ll feel smarter. After all, there are plenty of wealthy people who put their financial affairs in the hands of dishonest people and end up in big financial troubles. You may have more limited assets than some people, but handling them smarter will make all the difference.

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Delray Beach, FL January 14, 2019: Mindy Felinton, founder of Felinton Elder Law & Estate Planning Centers, has posted a new article on her law firm’s website entitled “The Only Thing Missing From Your Retirement Plan Is A Lawyer,” in which Ms. Felinton makes it clear that if one has a retirement plan they need an attorney.

Felinton writes, “You may wonder why you need a lawyer involved with your retirement plan.” She continues adding, “After all, if you have a 401k, your employer deducts a certain amount from your pay, and if you’re lucky they match it or at least a percentage. Or you make annual contributions to an IRA. Your funds grow. You retire. You have money to live on. End of story.”

According to Felinton, an attorney is necessary because “A lawyer makes sure the money you’re putting away in your IRA or 401k will be used according to your wishes if something happens to you. And they make sure your money is protected if there is any kind of legal action brought against you.” She emphasizes, “In other words, if you have a retirement plan, you have assets. That means you need an estate and asset protection plan, which means you need a reputable estate and asset protection attorney.”

“So,” says Felinton, “like most people, you have a will. That may be all you need if you simply die,” she adds. “But,” she says, “sometimes having an outdated will is even worse than dying without a will. And, what if you become incapacitated? What if you need long-term assisted care? What if you have family members who are only interested in getting their hands on your money and really could care less about your well-being? “

The entire article can be read at https://www.felintonlaw.com/the-only-thing-missing-from-your-retirement-plan-is-a-lawyer/

About Mindy Felinton

From a young age, Mindy wanted to be the voice that would make an impact in people’s lives. She became an attorney and has practiced law for over 30 years, so that she could fulfill her desire to help others. As a special prosecutor, Mindy defended the underdog (literally) in cases of animal abuse. As a state attorney in Florida she fought for justice. During the last 25 years, Mindy met many wonderful people who did not know their rights, did not understand the law, and did not know what options were available.

Mindy assists families with Medicaid planning to help with the cost of nursing home care and with obtaining veteran’s benefits to make the cost of care more manageable.   She also prepares wills, trusts, powers of attorney, and medical directives.  Mindy is passionate about educating both other professionals and the public concerning VA Aid & Attendance benefits, Medicaid benefits,  and the use of trusts for the protection of assets.  She shares her experience and professional knowledge through free workshops, and as a frequent lecturer at State Bar Conferences.

The post Felinton Elder Law & Estate Planning Centers Founder, Mindy Felinton Encourages Anyone With An IRA Or 401k Retirement Plan To Work With An Attorney appeared first on Felinton Elder Law and Estate Planning Centers.