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Monday, June 29, 2020

What Is Parents’ Dependency and Indemnity Compensation (DIC)?


The United States is proud of our veterans and that which they sacrifice so that our freedom remains secure. That is why there are many veteran benefit programs offered by the federal government and administered by the Department of Veterans Affairs (VA). The government also recognizes that the parents of veterans have given much to this country and have made sacrifices of their own.
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Friday, June 26, 2020

What Is an Irrevocable Life Insurance Trust?


It is no surprise that life insurance is one of the most commonly purchased financial products in the U.S. The benefits of life insurance can provide critical financial relief in the wake of the death of a loved one. Life insurance proceeds can replace the earnings of a breadwinner or cover cost of burial and unpaid taxes. With all of the benefits that come with life insurance, it is also important to be mindful of some of the potential pitfalls associated with life insurance.
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Thursday, June 25, 2020

Which Assets Avoid Probate?


During probate of an estate, the court oversees the management and distribution of a deceased individual’s assets. Additionally, all outstanding debts of the estate are paid. An executor or administrator of the estate will be appointed to carry out the necessary tasks of probate.
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Tuesday, May 26, 2020

Why You Should Consider Incorporating 529 Plans Into Your Estate Plan


When properly crafted, an estate plan has so much more to offer than simply a way to distribute assets to your family and loved ones. There is an extensive range of estate planning tools that are often overlooked, but can provide many benefits to those who choose to access them. For instance, a 529 Savings Plan may not be something you would consider as an estate planning tool, but it certainly can be. A 529 plan is named for the Internal Revenue Code section that authorizes them. It is a tax-advantaged investment vehicle that allows for tax-sheltered growth.
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Thursday, May 21, 2020

How to Pay for the Costs of Assisted Living


The cost of assisted living care in the U.S. is increasingly high. The average rent for assisted living ranges from $2,000 to $5,000 per month, with the national average falling somewhere close to $4,000 per month. Few people can afford this, but many older adults need some help living a semi-independent life, but do not require constant monitoring and medical supervision.
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Monday, May 18, 2020

The CDC’s Coronavirus Guidance for Older Adults


The COVID-19, also referred to as the Coronavirus, pandemic has brought a level of anxiety that is palpable across the U.S. and the globe. As the disease spreads, the fear of it grows. This is especially true for those groups who have been deemed particularly vulnerable to the risks of the Coronavirus.
Read more . . .


Thursday, April 23, 2020

What Are the Responsibilities of an Executor?


Estate planning is something everyone should do as soon as possible. It is an important process that puts critical legal tools in place to protect you and your loved ones. There will be many difficult decisions you will have to make during the estate planning process.
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Monday, April 20, 2020

How Did the Deficit Reduction Act of 2005 (DRA) Affect Medicaid?


Medicaid seems to always be in the news as it is often at the center of politics. There are many discussions on changes in Medicaid. Those in office or running for office frequently say that they will introduce legislation relating to Medicaid. Changes in Medicaid legislation can have a big impact on how can access


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Friday, April 17, 2020

How Can I Include Charitable Giving in My Estate Plan?


Many people have charitable causes about which they are passionate. When estate planning, you may wish to consider planned charitable giving which will allow you to support your charitable interests. There are several ways to include charitable giving.


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Monday, March 23, 2020

Why You Are Never Too Young to Estate Plan


Estate planning involves putting important tools and legal protections in place related to your end of life wishes as well as others associated with ensuring your healthcare decisions are respected and your financial well being is protected. This does not mean that estate planning is only for those individuals who are older or who may be in poor health. Estate planning is important for everyone regardless of age or health status.
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Friday, March 20, 2020

How to Keep Your Family Business in the Family


A family business has unique considerations that do not exist with other businesses. They are special and require special attention at times. For instance, times of succession with a family business are not only critical, but are difficult to do dynamics that are not at play in other kinds of businesses.
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Monk Law Firm, PLLC assists clients throughout Charlotte, Rock Hill, Fort Mill and the surrounding areas.



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| Phone: 803-594-4453
6000 Fairview Road, Suite 1200, Charlotte, NC 28210
| Phone: 704-369-9977

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