Fong Law Group

Social Security Scams Keep Going 社會保障詐騙仍繼續下去 (中英對照)

“The Social Security scam is circulating once again, and officials want to stop it from claiming more victims.”

It seems like scammers have become more aggressive and a frightening tone has gotten more than one otherwise sensible person embroiled in them. Crooks are calling and telling people that their Social Security numbers have been suspended, and that they need the number and the person’s bank account information to issue a refund, says KKTV’s report “Social Security officials hope to combat scam.”

In addition to the aggressive angry voice, is the fact that the caller ID has been “spoofed” or made to appear that the person is actually calling from the Social Security Administration or another government agency.

Nancy Berryhill, Acting Commissioner of the Social Security Administration, advises people to be very cautious and not to provide anyone with information like their Social Security number or bank account information to unknown people, either on the phone or over the Internet.

The SSA has launched a public service campaign warning about these calls, in the hope that consumers will realize that the SSA never makes threatening phone calls and never asks for gift cards in payment. The campaign is being run in conjunction with the Office of the Inspector General.

The scamming calls are nationwide. The message is clear: if you get this kind of a phone call, hang up.

While the SSA does occasionally call people, it’s usually someone who is working with the agency on an on-going matter, so that the call and the agent making the call is not a stranger.

Berryhill advises people that if they are contacted by someone claiming to be from the Social Security Administration or the Office of the Inspector General, they should get the person’s name, their phone number and then hang up. If the same person calls again, hang up. It is more than likely to be a thief.

Contact the local Social Security office and find out if a call has been made to you. Never provide a caller with your Social Security number.

Some of the crooks are able to get information about people, including part of their Social Security numbers, and they call stating that they are asking only to verify the entire Social Security number. Again, if someone from Social Security was really calling, they would have that information and would not need it to be verified.

Reference: KKTV (March 22, 2019) “Social Security officials hope to combat scam”

“社會保障騙局再次流傳，官員們希望能阻止以免有更多的受害者。”

騙子似乎變得更進取，而且用恐嚇的語氣令不少精明的人落入陷阱。 KKTV的報告稱“Social Security officials hope to combat scam.”，騙子打電話告訴人們他們的社會安全號碼已被暫停，他們需要號碼和個人的銀行賬戶資料才能退款。

除了咄咄逼人的憤怒語氣之外，來電顯示本身已經是騙局 ,來電顯示顯示該人是從社會安全局或其他政府機構打來的。

社會保障管理局代理專員Nancy Berryhill建議人們要非常謹慎，不要通過電話或互聯網向任何人提供社會安全號碼或銀行賬戶資料等信息給來歷不明的人。

對於這些電話SSA已經發出了公共事務活動警告，希望消費者能明白到SSA從未打過威脅電話，也從不會要求支付禮品卡。而該活動正在與監管局合作進行。

詐騙是全國性的。訊息很明確：如果你接到這種電話，請掛斷電話。

雖然SSA偶爾會打電話給人，但通常是致電給與當局正在打交道的人，因此致電的人並不是陌生人。

Berryhill建議,如果有人聲稱是來自社會保障局或監管局的人，他們應該取得該人的姓名，電話號碼，然後掛斷電話。如果同一個人再次打來，請掛斷電話。它很可能是一個詐騙者。

聯繫當地社會保障局，了解他們是否曾經致電給您。切勿向來電者提供您的社會安全號碼。

一些騙子能夠獲得有關資料，包括社會安全號碼的一部分，他們打電話說他們只要核實整個社會安全號碼。如果來自社會保障部門的人真正打來時，他們已經有您的社會安全號碼，並不需要核實號碼。

參考: KKTV (March 22, 2019) “Social Security officials hope to combat scam”

Social Security Scams Keep Going 社會保障詐騙仍繼續下去 (中英對照)

“The Social Security scam is circulating once again, and officials want to stop it from claiming more victims.”

It seems like scammers have become more aggressive and a frightening tone has gotten more than one otherwise sensible person embroiled in them. Crooks are calling and telling people that their Social Security numbers have been suspended, and that they need the number and the person’s bank account information to issue a refund, says KKTV’s report “Social Security officials hope to combat scam.”

In addition to the aggressive angry voice, is the fact that the caller ID has been “spoofed” or made to appear that the person is actually calling from the Social Security Administration or another government agency.

Nancy Berryhill, Acting Commissioner of the Social Security Administration, advises people to be very cautious and not to provide anyone with information like their Social Security number or bank account information to unknown people, either on the phone or over the Internet.

The SSA has launched a public service campaign warning about these calls, in the hope that consumers will realize that the SSA never makes threatening phone calls and never asks for gift cards in payment. The campaign is being run in conjunction with the Office of the Inspector General.

The scamming calls are nationwide. The message is clear: if you get this kind of a phone call, hang up.

While the SSA does occasionally call people, it’s usually someone who is working with the agency on an on-going matter, so that the call and the agent making the call is not a stranger.

Berryhill advises people that if they are contacted by someone claiming to be from the Social Security Administration or the Office of the Inspector General, they should get the person’s name, their phone number and then hang up. If the same person calls again, hang up. It is more than likely to be a thief.

Contact the local Social Security office and find out if a call has been made to you. Never provide a caller with your Social Security number.

Some of the crooks are able to get information about people, including part of their Social Security numbers, and they call stating that they are asking only to verify the entire Social Security number. Again, if someone from Social Security was really calling, they would have that information and would not need it to be verified.

Reference: KKTV (March 22, 2019) “Social Security officials hope to combat scam”

“社會保障騙局再次流傳，官員們希望能阻止以免有更多的受害者。”

騙子似乎變得更進取，而且用恐嚇的語氣令不少精明的人落入陷阱。 KKTV的報告稱“Social Security officials hope to combat scam.”，騙子打電話告訴人們他們的社會安全號碼已被暫停，他們需要號碼和個人的銀行賬戶資料才能退款。

除了咄咄逼人的憤怒語氣之外，來電顯示本身已經是騙局 ,來電顯示顯示該人是從社會安全局或其他政府機構打來的。

社會保障管理局代理專員Nancy Berryhill建議人們要非常謹慎，不要通過電話或互聯網向任何人提供社會安全號碼或銀行賬戶資料等信息給來歷不明的人。

對於這些電話SSA已經發出了公共事務活動警告，希望消費者能明白到SSA從未打過威脅電話，也從不會要求支付禮品卡。而該活動正在與監管局合作進行。

詐騙是全國性的。訊息很明確：如果你接到這種電話，請掛斷電話。

雖然SSA偶爾會打電話給人，但通常是致電給與當局正在打交道的人，因此致電的人並不是陌生人。

Berryhill建議,如果有人聲稱是來自社會保障局或監管局的人，他們應該取得該人的姓名，電話號碼，然後掛斷電話。如果同一個人再次打來，請掛斷電話。它很可能是一個詐騙者。

聯繫當地社會保障局，了解他們是否曾經致電給您。切勿向來電者提供您的社會安全號碼。

一些騙子能夠獲得有關資料，包括社會安全號碼的一部分，他們打電話說他們只要核實整個社會安全號碼。如果來自社會保障部門的人真正打來時，他們已經有您的社會安全號碼，並不需要核實號碼。

參考: KKTV (March 22, 2019) “Social Security officials hope to combat scam”

How to Be Smart about an Inheritance

“If you were to receive a sizable inheritance, what should you do with it? This money could help you achieve some of your important financial goals , so you’ll want to think carefully about your choices.”

While there’s no one way that is right for everyone, there are some basic considerations about receiving a large inheritance that apply to almost anyone. According to the article “What should you do with an inheritance?” from The Rogersville Review, the size of the inheritance could make it possible for you to move up your retirement date. Just be mindful that it is very easy to spend large amounts of money very quickly, especially if this is a new experience.

Here are some ways to consider using an inheritance:

Get rid of your debt load. Car loans, credit cards and most school loans are at higher rates than you can get from any investments. Therefore, it makes sense to use at least some of your inheritance to get rid of this expensive debt. Some people believe that it’s best to not have a mortgage, since now there are limits to deductions. You may not want to pay off a mortgage, since you’ll have less flexibility if you need cash.

Contribute more to retirement accounts. If the inheritance gives you a little breathing room in your regular budget, it’s a good idea to increase your contributions to an employer-sponsored 401(k) or another plan, as well as to your personal IRA. Remember that this money grows tax-free and it is possible you’ll need it.

Start college funding. If your financial plan includes helping children or even grandchildren attend college, you could use an inheritance to open a 529 account. This gives you tax benefits and considerable flexibility in distributing the money. Every state has a 529 account program and it’s easy to open an account.

Create or reinforce an emergency fund. A recent survey found that most Americans don’t have emergency funds. Therefore, a bill for more than $400 would be difficult for them to pay. Use your inheritance to create an emergency fund, which should have six to 12 months’ worth of living expenses. Put the money into a liquid, low-risk account, so that you can access it easily if necessary. This way you don’t tap into long-term funds.

Review your estate plan. Anytime you have a large life event, like the death of a parent or an inheritance, it’s time to review your estate plan. Depending upon the size of the estate, there may be some tax liabilities you’ll need to deal with. You may also want to set some of the assets aside in trust for children or grandchildren. Your estate planning attorney will be able to provide you with experienced counsel on the use of the inheritance for you and future generations.

Reference: The Rogersville Review (March 21, 2019) “What should you do with an inheritance?”

How Do Gifts of LLC Interests Work?

“Family LLCs (FLLCs) and/or Family Limited partnerships’ (FLLPs) have long been popular devices to use, when making intra-family gifts (note the terms are used interchangeably below).”

Family LLCs and Family Limited Partnerships are easy to understand and to administer, and they require very little reporting at the state level, explains Financial Advisor in the article “Use Caution With Gifts Of LLC Interests.” A parent who creates the FLLC, and then gifts FLLC units to either children, grandchildren or trusts established for their benefit, remains in control as the FLLC manager. That means the parent can make all the investment decisions and decide when to make distributions.

There have been a few changes that have made this a little more complex, most notably the Powell v. Commissioner decision from 2017. As a result of that decision, the IRS can attempt to include the value of the transferred FLLC units in the parent’s taxable estate. Powell is not the first judgment to give families and estate planners some concern over using FLLCs. Here’s a look at two Tax Court decisions to bear in mind, when considering a FLLC and Gifts of LLC interests.

The Powell v. Commissioner decision was the result of a case where the mother owned a non-controlling 99% limited partnership at the time of her death. Her sons owned the 1% controlling general partner interest. The Tax Court held that despite being the limited partner, the mother could act in conjunction with the general partner either to make distributions or liquidate the partnership. This caused $10 million of partnership assets to be included in her taxable estate at the fair market value. The Tax Court focused on the fact that the son-general partner held his mother’s durable power of attorney and had a fiduciary duty to her as a result. This constrained his independence as the general partner.

Another decision, Senda v. Commissioner, arose from a situation where parents created an LLC to hold highly appreciable marketable stock. On the same day the LLC was created, the parents gifted some of the LLC units to their children (or trusts for their benefit). The parents tried to extract a little more value out of this strategy, by claiming valuation discounts because the subject of their lifetime gifts were minority non-controlling interests in the LLC, which were not readily marketable, due to transfer restrictions contained in the LLC’s operating agreement.

The Tax Court found that the interests were transferred at the same time the LLC was funded with marketable securities. By collapsing those two steps, the Tax Court found that the subject of the gift was not the LLC units, but the appreciated marketable stock. The Tax Court supported the IRS’s position that the underlying asset in the LLC, appreciated stock, was the actual subject of the gift, and not the “discounted” LLC units. The Tax Court ignored the application of the valuation discounts and assessed a gift tax, penalties and interest in the underpayment of the gift tax, caused by the gift of appreciated marketable securities.

These are just two of several cases, where the FLLC strategic planning went bad. There are safeguards to put into place to maximize the interest of the FLLC, without putting it at risk. Speak with an estate planning attorney, who is knowledgeable about using FLLCs and current cases, to ensure that a good plan does not become an expensive mistake.

Reference: Financial Advisor (March 25, 2019) “Use Caution With Gifts Of LLC Interests”

Don’t Wait to Purchase This Type of Insurance

“With so many types of health insurance available, it is hard to decide which types of supplemental insurance you need.”

Insurance is a tool that is necessary to protect yourself and your loved ones. Long-term care insurance and life insurance are often offered by employers as part of your benefits package. However, as discussed in the article “What Is Critical Illness Insurance” from the balance, this additional insurance could make a big difference in your family’s financial well-being. Before making any decisions, it’s important to understand the role of critical insurance.

Critical illness insurance, which is also known as critical care insurance, is a type of insurance policy that pays insurance policyowners with a lump sum payment, after they are diagnosed with a specific type of illness that is listed on their insurance policy. This insurance may also be structured to make serial payments, based on the policyowner’s ongoing medical treatments or condition.

Some critical coverages are very limited and only cover a handful of illnesses, while others can provide coverage for as many as thirty different conditions.

Like any kind of insurance policy, it’s important to read the fine print. There will likely be conditions attached to getting a cash payout. Do the research before signing up.

Some critical illness policies cover the portion of the cost of any diagnostic or screening tests for a condition. If you have regular colonoscopies, for instance, and you own a cancer policy, it is possible that the unreimbursed portion of your procedure could be covered by the critical illness policy. A good policy could work for you during your entire healthy life, as well as during a critical illness.

Some of the critical illness policies provide an option to combine critical illnesses coverage with additional life insurance, accident or disability insurance. If you want to maximize coverage and avoid having to manage a few different insurance policies, this may work for you. Again, read the fine print. You don’t want to put all your insurance eggs in one basket, only to find that the conditions are counter-productive to your coverage goals.

Critical illness insurance usually comes with a list of illnesses that are included in the policy. Each one will have very specific criteria that will define whether you qualify for a benefit payment. There are cases where people may think they have coverage because of a diagnosis, only to learn that they have not met the specific criteria.

Deciding whether you need critical illness insurance, in addition to your employee benefits, is a personal decision. If you are paying several hundred dollars a month for many years and never become ill, then you may not consider the money well spent. However, if you receive a diagnosis of a critical illness and you receive a large payout, you’ll be glad to have the coverage.

Another option is to put the same amount of money into a health savings account. However, there’s no way to be sure that the account will grow enough to cover the expense of a major, life-changing illness.

Reference: the balance (March 11, 2019) “What Is Critical Illness Insurance”

Will Helps Avoid Problems and Expenses for Family 遺囑有助於避免家庭糾紛和費用 (中英對照)

“Wills are beneficial, whether you think you have assets or not.”

Having a will and an estate plan makes passing along assets much easier for the family. Having necessary documents like a power of attorney and a health care power of attorney lets the family make decisions for a loved one, who has become incapacitated. These are estate planning basics, as reported by WKBN 27 in the article “Attorney recommends everyone have a will in place to prevent avoidable issues.”

Think of the will as a way to speak for yourself, when you have passed away. It’s the instructions for what you want to happen to your property, when you die. If there’s a will, the executor is responsible for carrying out your requests. With no will, a court will have to make these decisions.

Many people believe that if they don’t have a will, their spouse will simply inherit everything, automatically. This is not true. There are some states where the surviving spouse receives 50% of a decedent’s assets and the children receive the rest. However, the children could be offspring from outside the marriage. Not having a will, makes your estate and your family vulnerable to unexpected claims.

A will must contain certain elements, which are determined by your state’s laws and must be signed in the presence of two witnesses. Without the correct formalities, the will could be deemed invalid.

Lawyers recommend that everyone have a will and an estate plan, regardless of the size of your estate.

Young parents, in particular, need to have a will, so they can name a person to be guardian of their child or children, if they should both die.

Details matter. In some states, if you make a list and neglect to name specifically who gets what, using the term “children” instead of someone’s name, your stepchildren may not be included. State laws vary, so a local estate planning attorney is your best resource.

You should also be sure to talk with your spouse and your children about what your intentions are, before putting your wishes in writing. You may not feel totally comfortable having the discussion. However, if your intention is to preserve the family, especially if it is a blended family, then everyone should have a chance to learn what to expect.

Wills do become binding, but they are not a one-time event. Just as your life changes, your estate plan and your will should change.

Don’t neglect to update your beneficiary designations. Those are the people you named to receive retirement accounts, bank accounts or other assets that can be transferred by beneficiary designations. The instructions in your will do not control the beneficiary designation. This is a big mistake that many people make. If your will says your current spouse should receive the balance of your IRA when you die but your IRA lists your first wife, your ex will receive everything.

Here are the four estate planning documents needed:

• A will;
• A living will, if you need to be placed on life support and decisions need to be made;
• A healthcare power of attorney, if you cannot speak for yourself, when it comes to medical decisions;
• A durable power of attorney to make financial decisions, if you are incapacitated.

A local estate planning attorney can help you create all of these documents and will also help you clarify your wishes. If you have an estate plan but have not reviewed it in years, you’ll want to do that soon. Laws and lives change, and you may need to make some changes.

Reference: WKBN 27 (March 14, 2019) “Attorney recommends everyone have a will in place to prevent avoidable issues.”

“無論你認為自己是否擁有資產，遺囑都是有利的。”

擁有遺囑和資產計劃使得家庭更容易傳承資產。擁有財務授權書和醫療授權書等必要文件可讓家人為已喪失能力的親人做決定。這些是資產規劃的基礎，正如WKBN 27在文章“Attorney recommends everyone have a will in place to prevent avoidable issues.”所報告的那樣。

當你去世時，遺囑像是代你發言的一種的方式。當你去世時，它就是一個指引說明你想要你的財產如何處理。如果有遺囑，執行人有責任執行您的要求。沒有遺囑，法院便會做決定。

許多人認為，如果他們沒有遺囑，他們的配偶就會自動繼承一切。這並不正確。在某些州，在生配偶獲得死者的一半資產，而子女則獲得其餘的資產。可是，他們可能是非婚生子女。故沒有遺囑，會使您的遺產和家人容易受到意想不到的索償。

遺囑必須包含某些要素，這些要素由您所在州的法律決定，並且必須在兩名證人在場的情況下簽署。如果沒有正確的手續，遺囑可能被視為無效。

律師建議每個人都有遺囑和資產計劃，無論您的資產規模如何。

特別是年輕父母, 更需要遺囑，這樣他們可以指定一個在他們都去世後作為子女的監護人。

細節很重要。在某些州，如果你列出一個資產清單而忽略了具體說明誰得到什麼，使用“子女”這個詞而不是某個人的名字，那麼你的繼子女可能不會被包括在內。各州法律各不相同，因此咨詢當地的資產規劃律師是最好的辦法。

在以書面形式表達您的意願之前，您應該要與您的配偶和您的子女談論您的意願。討論時你可能感覺不太舒服。但是，如果你的目的是保護家庭，特別是混合家庭，那麼每個人都應該有機會得知自己將得到什麼。

遺囑確實具有約束力，但不是一次便能完成。隨著你的生活產生變化，你的資產計劃和遺囑應該作出適當的改變。

不要忽略更新您的受益人名稱。這些人您所指定的人將得到您的退休帳戶，銀行帳戶或其他可以通過指定受益人來轉移資產的人。您遺囑中的說明不會推翻這些指定受益人。這是許多人犯下的大錯誤。如果你的遺囑說由你現在的配偶在你去世時會得到你IRA中的餘額，但你的IRA上列明的卻是你的前妻，那麼你的前妻將得到一切。

以下是所需的四份資產規劃文件：

• 遺囑;
• 生前意願書，如果你需要用儀器來維持生命並且作出決定時;
• 醫療授權書在您不能為自己作出醫療方面的決定時;
• 財務授權書來做出財務上的決定, 當您喪失行為能力時

當地的資產規劃律師可以幫助您建立所有這些文件，並幫助您表明您的意願。如果您已有資產計劃，但多年未有進行審核，你需要盡快審核。您可能因法律和生活上的變化而需要做出一些改變。

參考: WKBN 27 (March 14, 2019) “Attorney recommends everyone have a will in place to prevent avoidable issues.”

Here’s One Way to Handle the Son-In-Law You Hate 這是應付討厭的女婿一種方法 (中英對照)

“A family from the United Kingdom has made international news, as a result of an alleged will forgery fueled by a mother-in-law’s disdain for her daughter’s husband.”

When Gillian Williams died in May 2017, it’s unlikely that she expected to be at the center of an international spotlight on her family’s life. She left behind a married daughter, Julie Fairs, who is accused, along with her husband Brian, of falsifying a signature on her mother’s last will and testament. The mother’s own sister testified that her sister would never have left her daughter anything, because of how much she disliked her son-in-law, reports Above the Law in the article “What To Do When You Hate Your Son-In-Law: A Practical Lesson in Estate Planning.”

The matter became public when it went to trial. There’s been a lot of nasty family business being shared. Most people avoid going to trial for will contests, since the underlying emotions come out in full view.

Not everyone has friendly family relationships with in-laws. Frequently, the in-law relationship is prickly at best. There is no law that you must like your son-in-law. However, the law presumes that you like your child enough to include her in your estate, regardless of how you feel about her spouse. That means that if there is no surviving spouse, children are permitted to be the “natural object of your bounty.” In other words, these are the individuals who will receive your assets when you die, based on social and public policy and the law.

There are issues in estate planning, when a person wants to exclude a child because of their dislike of the child’s spouse. You may want to exclude a child out of concern that the spouse will mishandle the money or benefit from the money in a divorce. Sometimes parents can’t get past their dismay over a child marrying against their wishes. Disinheritance is not an unusual punishment. However, increased scrutiny is going to be applied to the review of a will, when a child is excluded.

When one child is disinherited, it colors their relationship with their siblings. The beneficiaries and the executor are left to defend the decedent’s decision. That is not easy to do, unless an explanation of why this happened was done beforehand.

There are options to disinheritance, if the child’s spouse is an issue. A beneficiary’s share can be held in a continuing trust, so the spouse does not have access to the funds. The assets can be protected and preserved, in the event of a divorce or just for general money security. It should be recognized that while inheritances are generally protected in divorce, the second the monies are co-mingled, they become joint property. A trust is often the best way to protect an inheritance in this situation.

Another tactic is for the person to skip a generation and instead make a bequest to the grandchildren. The option works best when the funds are not significant, since the parent may be insulted by the decision to leave a bequest to their children and this could pit the child against their own child (the grandchild).

Dividing the estate among the children in unequal shares can be done so as not to completely disinherit a child, but to leave less money. This also holds the potential for creating bad feelings between family members.

The last will and testament is a very permanent document and may not be the right forum to be used to let feelings be expressed or take a stand about an unfavorable life decision by an adult child. The impact of this decision can also have long lasting effects, including lawsuits and family fighting. It is also likely to create a battle between the child and their spouse.

A conversation with an estate planning attorney, who has likely seen this situation hundreds of times in their practice, should be able to help sort out the best solution. There may be a way to avoid conflict, or at least to make sure everyone is clear from the get-go, as to what is going to happen in the future, and why.

Reference: Above the Law (March 12, 2019) “What To Do When You Hate Your Son-In-Law: A Practical Lesson in Estate Planning”

“一個來自英國的家庭成了國際新聞，因為一位岳母對女兒的丈夫的蔑視而導致偽造遺囑。”

當Gillian Williams姆斯於2017年5月去世時，她沒有想到她的家庭生活能成為國際焦點。她遺下的已婚女兒Julie Fairs，和女兒的丈夫Brian一起偽造了她母親的遺囑和遺囑上的簽名。這位母親的妹妹作證說，她姐姐永遠不會給女兒留下任何東西，因為她不喜歡她的女婿，在 Above the Law 的“What To Do When You Hate Your Son-In-Law: A Practical Lesson in Estate Planning.” 一文報導。

這件事在審判時就公開了。有很多不愉快的家事被公開。大多數人都想避免爭產訴訟，因為內在情緒都被全面公開。

不是每個人都與姻親有良好關係。通常姻親關係都是難以應付的。沒有法律規定你必須喜歡你的女婿。然而，法律假定您不會因為不喜歡子女的配偶而不留財產給子女。這意味著，如果您沒有在生配偶，子女便是“繼承財產的自然人選”換句話說，根據社會和公共政策和法律，在你去世後他們將繼承你的資產 。

當一個人因為不喜歡子女的配偶而不想把子女包括在其中時，資產規劃便存在問題。你可能想要排除一個子女，因為擔心其配偶會錯誤處理這筆錢或從離婚中獲益。有時父母會因不滿子女的婚嫁對象而始終未能釋懷。剝奪子女的繼承權不是不尋常的懲罰。然而，當子女被排除在外時，遺囑將受到加強審查。

當一個子女被剝奪了繼承權時，就會改變他們與兄弟姐妹的關係。受益人和遺囑執行人留下來為去世的人的決定辯護。這並不容易，除非當人事先做出解釋為什麼會發生這種情況。

如果子女的配偶存在問題，剝奪子女的繼承權並非必然的選擇。受益人的部份可以以信託來持有，因此配偶無法獲得。這樣資產不會因為離婚或一般原故而失去。需承認，雖然遺產通常在離婚時得到保護，但一旦金錢混在一起便馬上成為共同財產。在這種情況下，信託便是保護繼承資產的最佳方式。

另一種策略是跳過一代人，遺贈給孫兒。當資金不多時，該選擇最有效，因為父母可能會因財產是留給他們的子女而非他們而介懷，這可能會讓子女和孫兒間產生矛盾。

可以將子女之間的財產劃分為不平等份，以免完全剝奪子女的繼承權，但這樣做也可能對家人間造成介芥蒂。

遺囑是一份文件，可能不適合用來表達感情或對成年子女的不利生活決定表態。這決定也可能產生長期影響，包括訴訟和家庭糾紛。它也可能在子女和他們的配偶之間製造鬥爭。

與資產計劃律師的對話，他們可能遇到這種情況數百次，應該能夠幫助找到最佳解決方案。可能有一種方法可以避免衝突，或者至少確保每個人都能從一開始就明白，將來會發生什麼，以及為什麼會這樣。

參考: Above the Law (March 12, 2019) “What To Do When You Hate Your Son-In-Law: A Practical Lesson in Estate Planning”

Where There’s A Will, There’s a Better Future for Family

“Often people are under the misconception that a will is only necessary if a person has a lot of assets, is wealthy, or has a complicated financial planning program in place.”

The plain truth is, everyone needs a will. The value of someone’s personal property has very little to do with the need for a will or estate plan. Without one, the process of settling an estate and having heirs receive their inheritance could be delayed for many months, or even years, says the article “Where there’s a will, there is a plan in place” from The Advertiser. For wills to be legally acceptable, there are certain things that need to be included:

Identification of the person making the will, also known as the testator. The will must contain the person’s name, address, state their intention to create a distribution process for assets and the statement that this will is intended to be their last will and testament and all other wills are revoked. The will must also be dated to be sure to know hold old it is, with regard to other wills.

Outstanding debt payment. The will needs to explain how any outstanding bills will be paid, including funeral costs, medical costs, taxes owed, and any other expenses that a person may have at the time of their death. This may vary by state, so speak with a local estate planning attorney to find out what your state’s laws are.

Name any heirs and what they are being given. You may give your property to whomever you want, or to a charity. The bequest needs to be carefully written, so it is very specific and there are no misunderstandings. Since it may be hard to know what will be left after final expenses are paid, it may be wise to give percentages of assets, rather than specific figures. An estate planning attorney will know how to best handle this aspect of a will.

Chose an executor and name them in the will. The executor is responsible for carrying out the wishes of the testator and is in charge of paying debts, taxes, distributing assets and any tasks assigned in the will. Choosing the right person for this task is very important. They need to be able to handle the responsibility and be able to execute your wishes, without being bullied by family members or friends. Always name a secondary executor, in case the first predeceases you, or if the person is unable or unwilling to serve.

Name a guardian for minor children. This is why parents of young children must have a will. If there is no will, the court will determine who should raise the children, following the laws of kinship of your state. You may not agree with the court’s decision. Select a person (or couple) you believe will raise the children, as close as possible to how you would raise the children.

Plan for your funeral. This is a kindness to your loved ones. If you don’t plan in advance, your loved ones may spend more than you would wish on an elaborate funeral. The opposite may also happen. A simple paragraph may do the job, or you could visit the local funeral home and prepay, selecting everything so that it will be done according to your own wishes.

In addition to a will, you’ll want a power of attorney and health care power of attorney in place to protect you, in case of incapacity. This way, someone will be able to take care of your finances and someone else will be able to make health care decisions, if you can’t.

An estate planning attorney can work with you to make sure that all these documents are properly prepared according to your state’s laws.  They have worked with many others, know what kind of issues crop up and how to prepare for them. This is especially important with blended families or families where there are complicated histories. Think of the estate plan as a gift to your heirs, a chance to express your wishes and a way to create a legacy for your loved ones.

Reference: The Advertiser (March 10, 2019) “Where there’s a will, there is a plan in place”

More Reasons Why You Need a Will

“Truly, nearly every legal question depends on a host of facts and circumstances that make it impossible to guarantee a particular outcome … except in the case of my favorite question: ‘Do I need a will?’”

It doesn’t take very long for any newly-minted attorneys in the trusts and estates practice area to see what happens when there is no will, says the Daily Memphian in a to-the-point article titled “Five reasons you need a will (and one reason you don’t).” The stress on families, unnecessary expenses and assets going to the wrong people, can easily be prevented with an estate plan and a will. However, in case you still aren’t convinced, here are the top five reasons:

You have a family. For those who are married with children, the laws of intestacy take over, if you don’t have a will. Assets are divided between the surviving spouse and the children in most states (check with a local estate planning attorney for your state’s laws). In theory, that sounds fine. But there are three situations where not having a will can make a mess of things:

• Minors and developmentally delayed heirs. Minors and individuals with special needs may not legally contract or represent themselves in court. Therefore, they cannot agree to the disposition of assets. When a minor or individual with special needs inherits assets directly, the court must appoint a neutral person, often an attorney, to oversee that person’s best interests. It may also require the appointment of a guardian, so the court can monitor the use of the assets in the child’s best interest, until they are of age.
• Bad relationships between surviving spouse and children. Under intestate law, the spouse inheriting reduces the amount the children inherit. If the spouse is a second wife, this can make a bad situation worse. A will can plan out the distribution of assets to care for the spouse and ensure that the children receive the assets, as determined by their parent.
• Extramarital children. Children who are not born to legally wed parents have the right to inherit, regardless of whether their parents were married. What if an unknown offspring shows up and demands his share? This does happen.

You hate your next-of-kin. Not every family is as happy as their Facebook photos. If you don’t want your lawful next of kin inheriting your assets, you need a will. Remember that as time passes and people enter and exit the family, through birth, death, marriage and divorce, the person who is your next-of-kin will likely change over time.

Do you want to give specific gifts? Under the intestacy laws, your relatives (next-of-kin) inherit your property in percentages that are based on their degree of relationship to you and the number of other relatives at that same degree. Outside of designating a beneficiary or joint owner of an assets, having a will that is properly prepared under the laws of your state, is the only way to ensure that you can determine who gets what.

You know how you want things to work after you die. If you want to have any control over what happens to your assets, how you want your funeral to be paid for, what you want to happen to personal property, etc., a will may be the best way to do this. The person named to be your executor is legally responsible to carrying out your wishes, unless it’s impossible, impractical or illegal for them to do so.

You have a living trust. If you took the trouble to have a living trust, then you should also have a will. You need, specifically, a “pour-over” will. This ensures that any assets not titled in the name of the trust at the time of your death, are transferred into the trust. Otherwise, your non-trust assets are subject to intestacy law.

The ONLY reason you may not need a will? If every single asset you own has either joint ownership or beneficiary designations. That’s very unusual, in part because it takes a lot of detail to make sure that every asset is titled correctly. You can leave real property to another person through a joint ownership deed, which establishes that person as the co-owner of the property. Accounts can be left to a person of choice, by naming a person as beneficiary.

Joint ownership and beneficiary designations do supersede the intestacy laws. However, what happens if a beneficiary dies before you do and you neglect to change the name on the asset? There are also gift and tax implications.

A will can be as complex or as simple as you want. Speak with an experienced estate planning attorney, who can make sure that your will and any other documents are prepared to achieve your wishes for your estate, protect your family, and don’t leave anything to chance.

Reference: Daily Memphian (March 8, 2019) “Five reasons you need a will (and one reason you don’t)”

What is the Best Way to Leave an Inheritance to a Grandchild? 怎樣是把遺產留給孫兒的最佳方式？(中英對照)

“While everyone from brand new parents to great grandparents can benefit from the advice of a competent estate planning lawyer, frequently the individuals making sure that their affairs are in order, are those in their golden years. They have a common concern: what about their grandbabies?”

Leaving money or real estate to a child under the age of 18 requires careful handling, usually under the guidance of an estate planning attorney. The same is true for money awarded by a court, when a child has received property for other reasons, like a settlement for a personal injury matter.

According to the article “Gifts from Grandma, and other problems with children owning property” from the Cherokee-Tribune & Ledger News, if a child under age 18 receives money as an inheritance through a trust, or if the trust states that the asset will be “held in trust” until the child reaches age 18, then the trustee named in the will or trust is responsible for managing the money.

Until the child reaches age 18, the trustee is to use the money only for the child’s benefit. The terms of the trust will detail what the trustee can or cannot do with the money. In any situation, the trustee may not benefit from the money in any way.

The child does not have free access to the money. Children may not legally hold assets in their own names. However, what happens if there is no will, and no trust?

A child could be entitled to receive property under the laws of intestacy, which defines what happens to a person’s assets, if there is no will. Another way a child might receive assets, would be from the proceeds of a life insurance policy, or another asset where the child has been named a beneficiary and the asset is not part of the probate estate. However, children may not legally own assets. What happens next?

The answer depends upon the value of the asset. State laws vary but generally speaking, if the assets are below a certain threshold, the child’s parents may receive and hold the funds in a custodial account. The custodian has a duty to manage the child’s money, but there isn’t any court oversight.

In Georgia, the threshold is $15,000. Check with a local estate planning attorney to determine your state’s limitations.

If the asset is valued at more than $15,000, or whatever the threshold is for the state, the probate court will exercise its oversight. If no trust has been set up, then an adult will need to become a conservator, a person responsible for managing a child’s property. This person needs to apply to the court to be named conservator, and while it is frequently the child’s parent, this is not always the case.

The conservator is required to report to the probate court on the child’s assets and how they are being used. If monies are used improperly, then the conservator will be liable for repayment. The same situation occurs, if the child receives money through a court settlement.

Making parents go through a conservatorship appointment and report to the probate court is a bit of a burden for most people. A properly created estate plan can avoid this issue and prepare a trust, if necessary, and name a trustee to be in charge of the asset.

Another point to consider: turning 18 and receiving a large amount of money is rarely a good thing for any young adult, no matter how mature they are. An estate planning attorney can discuss how the inheritance can be structured, so the assets are used for college expenses or other important expenses for a young person. The goal is to not distribute the funds all at once to a young person, who may not be prepared to manage a large inheritance.

Reference: Cherokee-Tribune & Ledger News (March 1, 2019) “Gifts from Grandma, and other problems with children owning property”

“每個人由新任父母到曾祖父母都可以從一位的勝任的資產規劃律師的建議中受益，但是那些確保他們所有事都有條不紊的人，往往是那些處於黃昏年齡的人。他們有共同的擔憂：他們的孫兒怎麼樣？”

把錢或房產留給未滿18歲的小孩需要小心處理，最好是在資產規劃律師的指導下進行。當兒童因其他原因收到財產時，例如人身傷害的和解，法院判給的錢, 同樣需要小心處理。

根據Cherokee-Tribune＆Ledger News的文章“Gifts from Grandma, and other problems with children owning property”，如果18歲以下的兒童通過信託獲得遺產，或者如果信託聲明該資產將在兒童滿18歲之前“被託管”，這樣在遺囑或信託中指定的受託人負責管理這筆錢。

在小孩滿18歲之前，受託人只能將錢用於小孩的福利上。信託的條款將詳細說明受託人可以或不可以用錢來做什麼。在任何情況下，受託人都不能以任何方式從這筆錢中受益。

小孩不能取用這些錢。小孩才可以自己的名義合法持有資產。但是，如果沒有遺囑，沒有信託那會怎樣？

根據繼承法，小孩可以有權獲得財產，該法律規定如果沒有遺囑，遺產將會怎樣分配。小孩可能獲得資產的另一種方式是來自人壽保單的收益，或其他資產指定小孩為受益人且資產不屬於遺囑認證財產。但是，小孩可能不能合法地擁有資產。接下來會有什麼問題？

答案取決於資產的價值。各州法律有所不同，但一般來說，如果資產低於某個價值，小孩的父母可以開設託管帳戶(custodial account)來持有資產。託管人有責任管理小孩的錢，但不需法院監督。

在喬治亞州，門檻是15,000美元。請諮詢當地的資產規劃律師，以確定您所在州的限制。

如果資產的價值超過15,000美元，或者無論該州的門檻是多少，遺囑認證法庭都將行使其監督權。如果沒有成立信託，那麼需要一位成年人成為管理人負責管理小孩財產的人。這個人需要向法院申請成為管理人，雖然通常管理人是小孩的父母，但這情況並非必然。

管理人必須向遺囑法庭申報小孩的資產及其使用方式。如果使用不當，那麼管理人將承擔責任。如果小孩通過法庭和解收到錢，情況也一樣。

讓父母申請監護權並向遺囑認證法庭申報對大多數人來說是麻煩的事。正確地成立資產規劃可以避免此問題，並需要準備好信託和指定受託人管理資產。

另一個值得考慮的問題：到了18歲而收到大筆金錢對於任何年輕人來說都不是一件好事，即使他們有多成熟。 資產規劃律師可以討論如何規劃資產，那麼資產可用於大學學費或其他重要費用。 目標是不要將所以資金一次性給年輕人，因為他們可能還沒有能力處理大筆遺產。

參考 : Cherokee-Tribune & Ledger News (March 1, 2019) “Gifts from Grandma, and other problems with children owning property”