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Child Protection Planning: Safeguard Your Home & Assets

Protect those you love and safeguard your home and assets with child protection planning. Attorney Brian F. Mahoney has 34 years of experience in family estate planning. Learn how to ensure the well-being of your family and create a plan that includes wills, trusts, emergency guardian appointments, asset protection, special needs trusts, and more. Avoid the perils of DIY estate planning and consult an experienced professional. Visit www.attybrianmahoney.com for a free consultation and expert legal advice.

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Child Protection Planning: Safeguard Your Home & Assets

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  1. “Child Protection Planning:”M.I.T. 2017 1-26 “What every Parent needs to know.”Presented for you by:Attorney Brian F. Mahoney 34 Years in Practice

  2. “ Family Estate Planning” • We all love our families • We want to know they are happy and safe • And we all want to protect them • So we Plan

  3. “Child Protection Planning:” I will help you protect those you Love.

  4. “Child Protection Planning:” And safeguard your Home & Assets

  5. For your own protection: “Family Estate Planning” Health Care Proxies & Powers of Attorney with HIPAA releases within

  6. First, protect yourself: Age is irrelevant. Bad things can happen to good people and they always happen unexpectedly.

  7. “Child Protection Planning:” Missing Parents: Emergency Guardian Appointments For the protection of your minor children.

  8. “Child Protection Planning:” Every Plan involving children needs a Will and Trust Attorney Brian Mahoney

  9. “Child Protection Planning:” Permanent Guardian Appointments are made in your Will. Attorney Brian Mahoney

  10. An AFFIDAVIT detailing who you do NOTwant as a Guardian is crucial if there is an unwanted family member who may try to seize control in your absence. “Child Protection Planning:”

  11. Asset Protection A Will is not enough. You want: Probate avoidance You do not want Probate appointed Guardians or Trustees You do not want your children to take at age 18 as Probate allows “Child Protection Planning:”

  12. “Child Protection Planning:” Asset Protection Trusts In your Trust: You appoint your Child’s Trustee NOT the Court You tell the Trustee what they can do in your Trust Your money will be managed for the protection of your Family and most importantly there should be: Asset and Creditor Protection language within!!!

  13. Special Needs Trusts “Child Protection Planning:” Special Needs Trusts: Allow assets to pass to a disabled minor or adult child while allowing them to remain eligible for Public Benefits Programs such as: S. S. I. or Medicaid, or Housing Voucher Programs.

  14. “You need to know why” Why avoid Probate Court? 2 + 2 =4 E = mc2 Probate Court = Loss of: Time, $$, and Patience

  15. Homestead: “Protect your Home” For a one time $36 recording fee a Homestead can protect up to $500,000 in Home Equity. That is an amazing deal!

  16. f Health Care Proxy w HIPAA release within Power of Attorney w HIPAA release within Emergency Guardian Proxy Will with Permanent Guardians named Family Trust and a Homestead on your realty. “Child Protection Planning:”

  17. Avoid errors - hire a professional The perils of D.I.Y. There is no substitute for experience. This is my 34th year as an Estate Planning lawyer. D.I.Y. will only lead to problems.

  18. “Family Estate Planning:” • What will happen if you do not follow up? You and your family are left unprotected • What will happen if you do follow up? No charge consultation & expert legal advice. www.attybrianmahoney.com 781 828 0083

  19. “What Is EFC?” • EFC is the amount they expect YOU to pay, not the aid you will receive. • Total Cost of School – EFC = Loans, Grants, Work Study, Scholarships • Expected Family Contribution is determined by FAFSA (Federal Methodology) & PROFILE (Institutional Methodology). • Federal Methodology for EFC • 5.6% - Parents “countable” assets 12% - Parents Income • 20% - Child’s “countable” assets 50% - Child’s Income Financial planning offered through Northeast Planning Associates, Inc. (NPA), a registered investment adviser (RIA).  Securities and advisory services offered through LPL Financial (LPL), an RIA and broker-dealer (BD), member FINRA/SIPC. Credit union is not an RIA or BD.  Insurance products offered through LPL or its licensed affiliates. LPL registered representatives offer products and services using MITFCU Investment & Retirement Planning. These products and services offered through NPA, LPL, or its affiliates, which are separate entities from, and not affiliates of the credit union, are:

  20. “The Four Battles of Saving for College” Financial Aid Taxes Flexibility Inflation • 529 Plan • Coverdell ESA • UTMA / UGMA • Roth IRA • Taxable Account • Savings Bonds • Cash Value Life Insurance

  21. “The Four Battles of Saving for College” Important Things to know about these accounts • No strategy assures success or protects against loss. Consult your advisor prior to investing. This is not a recommendation to buy or sell any investment. • 529 - Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing. • Roth IRA - The Roth IRA offers tax deferral on any earnings in the account. Withdrawals from the account may be tax free, as long as they are considered qualified. Limitations and restrictions may apply. Withdrawals prior to age 59½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Future tax laws can change at any time and may impact the benefits of Roth IRAs. Their tax treatment may change. • Taxable Acct - Investing involves risk including loss of principal. • Insurance - This contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. For information about specific insurance needs or situations, contact your insurance agent. You may also visit your state's insurance department for more information. State insurance laws and insurance underwriting rules may affect available coverage and its costs. Guarantees are based on the claims paying ability of the issuing company.

  22. “How Much Life Insurance do I need?” What expenses do I want to cover? College? Retirement? Adjustment Period? What new expenses will appear? Childcare? How much does Social Security cover? What kind of Insurance should I use? Group Term Individual Term Cash Value (Permanent)

  23. “What is Disability Insurance?” Short Term Versus Long Term What is your cash reserve? How much of your income is needed to run your family? How much does your employer offer through work? Do you pay for it? How does Social Security and Workman’s Comp help me? #1 How Much After Tax Income do I need to Survive? #2 How Much After Tax Income do I need to reach my Goals? #3 If I become disabled, how much After Tax income will I receive?

  24. “Child Protection Planning:” Comment Card Public Speaking Free Consultation Questions. Brian Mahoney and the legal services he provides are not affiliated with, nor endorsed by, LPL Financial or MITFCUIRP. LPL Financial does not offer legal advice or services. LPL Financial, MITFCUIRP, and Brian Mahoney are separate entities. 17-446 Financial planning offered through Northeast Planning Associates, Inc. (NPA), a registered investment adviser (RIA).  Securities and advisory services offered through LPL Financial (LPL), an RIA and broker-dealer (BD), member FINRA/SIPC. Credit union is not an RIA or BD.  Insurance products offered through LPL or its licensed affiliates. LPL registered representatives offer products and services using MITFCU Investment & Retirement Planning. These products and services offered through NPA, LPL, or its affiliates, which are separate entities from, and not affiliates of the credit union, are:

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