Category: Finances & Kids

Finances & Kids, Healthcare Decisions , , , , , , ,

College Students Need Their Medical Wishes Legally Protected Too

college students need medical wishes legally protectedMost parents don’t realize that their college aged students need their medical wishes protected too. Here’s some surprising news to most parents – when your child turns 18 they become legal adults. That’s right, they are no longer minors in the eyes of the law AND their parents are no longer legally in charge of them.

This means that if something awful happens to a college kid, (i.e., a bad car wreck, an accident on or off campus at a party, a trip to the hospital) and they cannot communicate for themselves, then there’s no one who is legally entitled to find out medical information, to make medical or legal decisions, to talk to insurance companies or to find out other information about them.

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Finances & Kids , , , , , , , ,

Mega Millions Lottery Fever – What Would You Do If You Won the Jackpot???

The Mega Millions jackpot has reached a record high and millions are playing with the hopes of winning the lottery of a lifetime. But, what would you do if you beat the odds (they are something near 1 out of 175 million to win) and won that jackpot? How drastically would your life change?

Well here are some tips from professionals who know a lot about money – MSN Money:

Protect Yourself.  Hire an experienced team of financial managers. This includes investment advisors, accountants who specialize in tax savings, bankers and wealth planning lawyers.

Be Generous, but Don’t Be Stupid. This is certainly your chance to give back to society, but you’ll need to be careful. People are going to be lining up at your door looking for handouts (this includes family and friends who are going to feel entitled to some of your winnings). Don’t let them control you.

Set up a charity budget and only give to legitimate charities that you, or your team of advisors, have fully vetted.

Keep Your Day Job. Well, if you really hate your job and you only stayed there to be able to pay the bills, then maybe it’s time to get a new career. But, don’t just quit and do nothing. It’s great to be on vacation for a week or two, but that can get old very, very fast. People need a purpose in their lives so that they can feel they contribute to something. Don’t just give up working – have a purpose.

Do Some Estate Planning. This is a lot of money and if you’re careful with it, then chances are it’s going to last well beyond your lifetime. Set up a trust for yourself and your family. Create a trust for your kids and grandkids. Work to reduce the inheritance tax bite from your winnings so that your financial legacy can last for years. Again, this is why you need a great team of financial advisers on your side.

You Still Need to Raise Responsible Kids. Don’t forget that you still have to be a responsible parent and raise kids who appreciate the value of money. Plenty of lottery winners have spent it all, don’t make the same mistake. Your kids still need to be productive members of society (think about some of these rich-kid celebrities we see on t.v. – we won’t name names here, but you know who we’re talking about – would you really want your kids living that kind of lifestyle?)

Avoid Excess. It’s okay to buy a new house (that is still within your means even with your lottery winnings), but you don’t really need 5 houses. Rent vacation houses, unless you plan on staying in one place for 3-6 months out of the year. And, don’t be tacky. Remember your surroundings. If you live in the country, you may look a little out of place driving around in a Lamborghini.

Enjoy. Ultimately if you are the lucky winner, enjoy yourself and congratulations!

Finances & Kids, Second Marriages and Relationships , , , , , , , ,

Why would a bank approve a Massachusetts short sale? 2nd Marriage Estate Planning Attorney

Ep. 4 of “2nd Marriage Estate Planning

Will a Massachusetts bank approve a short sale? Andrew Garcia of Phillips Garcia Law answers this question in the 4th installment of “2nd Marriage Estate Planning.”

Watch our previous episodes involving short sales and estate planning on our channel or website.

http://www.youtube.com/user/PhillipsGarcia?feature=mhee

Finances & Kids, Second Marriages and Relationships , , , , , , , ,

Should I short sell my Massachusetts home?

Episode 3 of “2nd Marriage Estate Planning” where Andrew Garcia continues to answer a viewer’s questions regarding her debt due to a short sale in Massachusetts. Does her debt now lie on the shoulders of her new husband as well? To find out the answers to these questions watch our mini-series “2nd Marriage Estate Planning.”

Episode 1 – What is a short sale?
Episode 2  – What happens during a short sale?

Finances & Kids, Second Marriages and Relationships , , , , , , ,

What is a Short Sale in Massachusetts? Estate planning for 2nd Marriages

The first episode of our series “2nd Marriage Estate Planning” for Massachusetts residents. Attorney Andrew Garcia of Phillips Garcia Law has extensive knowledge and expertise in family estate planning, second marriage law, wrongful foreclosure, business law, and personal injury.

Episode 1 thoroughly explains Short Sales in Massachusetts. For more information visit our website at www.phillipsgarcia.com or fill out the contact form to talk to Andrew.

Call PhillipsGarcia Law at 888-449-5343  

You can watch more videos from Phillips Garcia Law on their Youtube Channel.

Finances & Kids, Wills & Trusts - the Basics , , , , ,

Trusts: Recipe for Cooking a Great Living Trust with Attorney Andrew Garcia

Attorney and Cooking Enthusiast Andrew Garcia passes along his recipe for Cooking up a Great Trust. Andrew spells out the necessary steps that a family needs in order to create an effective trust.

If you would like to set up a trust or for more information about trusts please fill out our  contact form

Finances & Kids, Wills & Trusts - the Basics , , , , ,

Trusts: Recipe for cooking a great Trust with Attorney Andrew Garcia

Attorney and Cooking Enthusiast Andrew Garcia passes along his recipe for Cooking up a Great Trust. Andrew spells out the necessary steps that a family needs in order to create an effective trust.

If you would like to set up a trust or for more information about trusts please fill out the contact form or visit us at http://www.phillipsgarcia.com

Finances & Kids , , , , , , ,

Teen Driving: Who’s Liable If My Teen Drives My Car

For more information about liability and how to protect your children, visit our website at www.phillipsgarcia.com, call us at 508-998-0800 or email Andrew Garcia at [email protected]