Insights In Michigan Law: Probate and Estate Planning – 844-292-1318 Michigan legal aid

In his weekly video attorney Brad Aldrich looks at estate planning and facing probate. What strategies work best? What can you expect?

Insights In Michigan Law is a weekly video to help those with legal questions in challenging times..

Aldrich Legal Services can help you in a variety of legal situations in the Michigan Counties of Wayne, Oakland, Washtenaw and Monroe. Visit our website at aldrichlegalservices.com/ to learn more or call to set up your free 30 minute consultation at (734)404-3000
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Planning for the Future with a 529 Plan | Mississippi Guardianship Lawyer – 844-292-1318 Mississippi legal aid

Planning for the Future with a 529 Plan | Mississippi Guardianship Lawyer

** For more information or for help setting up a 529 plan in Mississippi, visit MortonElderLaw.com or call (866) 925-9797. **
*DISCLAIMER* Thank you for watching the Morton Law Firm video. Please note, the material located in this video is for informational purposes only, is general in nature, and is not intended to and should not be relied upon or construed as a legal opinion or legal advice regarding any specific issue or factual circumstance. Nor is this information intended to create, and receipt of it does not create, an attorney-client relationship between you and the firm. Therefore you should consult an attorney in the event you want legal advice. This video is also not intended to be advertising and Morton Law Firm, PLLC does not seek to represent anyone by means of this video in a state where this video may fail to comply with all laws and ethical rules of that state. Please note, the content of any communication you send to the firm electronically or by any other means will not be considered confidential unless you have received such written confirmation and you should be aware that we can use any unsolicited information you send to us on behalf of our clients. We will neither accept requests for legal advice nor offer specific legal advice over the internet.

If you already have children or are making plans to grow your family, it makes sense to consider a 529 plan. These are plans which are set up before your kids even head out to college, allowing you to put money aside for tuition so it will be there when you need it.

There are a number of benefits to using this type of program, not the least of which is the possibility of locking in today’s tuition prices. With the ongoing increase in tuition, paying 2012 prices for a plan which might not be cashed in until 2025 makes good financial sense.
There are also some really attractive tax benefits available to those who take advantage of 529 plans when planning for their families’ futures. For example, the money invested grows tax-deferred, and college costs later are free from federal taxes.

Some states also offer considerable tax benefits. A skilled local attorney can help you assess the applicable tax benefits for those residing in the Clinton area.

Because 529 plans are typically run through states or institutions, there is often concern about whether or not kids growing up in the Clinton area have to attend specific schools in Mississippi.

Most plans actually allow you to choose from a variety of schools, not limiting you by geographic area. In fact, it is common for families from one state to choose to invest in a 529 plan from another state because they prefer it for one reason or another.

There are two different types of 529 plans to consider when planning for your kids’ future. (Or your own, as you can set up a plan for yourself if you know you’re interested in going back to school in the future).

“Savings plans” are similar to retirement plans, with your contributions invested into things such as mutual funds. The value of the plan depends on how these investments perform.

“Prepaid plans” simply allow you to pay the tuition in advance. These can often be converted for use at out-of-state or private colleges.

CBS News has a good rundown on six reasons to invest in a 529 plan. They include reasons such as the fact that tax changes in 2013 won’t affect money already invested and a likelihood that investments made now will keep pace with tuition increases. Grandparents are even looking at 529 plans as a way to provide for grandchildren during the estate planning process.

If you have questions on how to set up a 529 plan and whether it’s a wise option for your family, give our Clinton trusts and estates law firm a call at (601) 925-9797 and schedule a complimentary consultation with the mention of this video.

What is Probate in Alabama – Alabama Estate Planning and Elder Law Attorneys – 844-292-1318 legal aid Anniston Alabama

Anniston, Alabama Estate Planning attorney Bill Miller discusses what is probate. Probate is the process of getting assets transferred and creditors paid at the time of your death. Probate can be a long and expensive process. There are ways to avoid probate such as the use of trust based planning. If you would like more information, click http://www.7EstatePlanningMistakes.com to get a copy of my report to learn how to avoid the 7 biggest mistakes people make in estate planning, visit our website at http://www.AnnistonEstatePlanning.com. or call us at 256 237-3339.
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