Peaks and Valleys
Attorney, Janel Chin is committed to helping her clients navigate the peaks and valleys of their lives by offering reasonably priced legal services.
Attorney, Janel F. Chin is committed to providing comprehensive legal guidance to clients as they navigate the peaks and valleys of their lives. More than just a will, a contract or documents to probate an estate, P&V clients receive comprehensive legal services and guidance to help them navigate the peaks and valleys of their lives. Since becoming a member of the Montana State Bar in 2012 Janel's
https://www.nytimes.com/2024/05/18/business/inheritance-millennials.html?smid=em-share
Managing an Inheritance: When ‘Mom’s Money’ Becomes Yours A sudden windfall while grieving can be an emotional minefield, particularly for younger adults. Experts share ways to handle it wisely.
My father ‘deliberately and hurtfully’ cut my late sister’s two kids out of his will. How can I ensure they get their fair share? “How can I best do this in such a way that nobody is penalized from gift taxes and other costs?”
https://www.kiplinger.com/retirement/how-to-protect-your-inheritance
Four Do’s and One Don’t to Help Protect Your Inheritance If you’re lucky enough to inherit a lot of money, keeping these five things in mind, especially knowing the tax implications, could head off some regrets.
States find a downside to mandatory reporting laws meant to protect children Colorado is looking at ways to w**d out false reporting of child abuse and neglect as the number of reports reaches a record high. New York and California are reworking the policies, too.
Big thanks to / for the warm welcome this week. I am loving having a space outside of my home to work!
https://www.kiplinger.com/retirement/smart-estate-planning-moves
13 Smart Estate Planning Moves Follow this estate planning checklist for you (and your heirs) to hold on to more of your hard-earned money.
https://www.kiplinger.com/retirement/how-to-choose-your-trustee-or-executor-of-your-will
How to Choose Your Trustee or Executor of Your Will Above all, you should choose someone you trust, keeping in mind that acting as a trustee or executor can be a complex, thankless and sometimes long-term job.
My kids are closer to 18 years old than 18 months old but I am still immensely grateful to my clients for the flexibility they allow me to parent and lawyer:
Why a big law firm is rolling back parental leave The big question: Will other firms follow suit?
https://www.kiplinger.com/retirement/how-quitclaim-deeds-can-cause-estate-planning-catastrophes
How Quitclaim Deeds Can Cause Estate Planning Catastrophes A lot can go wrong (including inadvertent law-breaking) if you choose to go the easy route rather than using a trust to transfer real estate to your child.
What To Know Before Agreeing To Be An Executor Of A Will It's hard to say no when someone asks you to be the executor of their will, but there's a lot to consider before you say yes.
This is a good time of year for the newest adults in our communities to consider establishing an estate plan. I recommend a basic estate plan for almost everyone over the age of 18!
Helping Young Adults Gain Financial Independence Schwab wealth strategist Susan Hirshman offers tips for helping young adult children become financially independent.
Blended families are common. Here are tips to help stepsiblings get along Researchers have learned a lot about blended families since the 1970s — when The Brady Bunch painted a perfect picture of stepsiblings getting along. Some of their advice might surprise you.
https://www.kiplinger.com/retirement/wealth-transfer-and-strategic-gifting-opportunities
Wealth Transfer and Strategic Gifting Opportunities for 2024 Inflation adjustments to the gift and estate tax exemptions, along with the pending sunset of some tax cuts, make 2024 the year to dig into transfer strategies.
The Danger Of Declining Estate Planning Rates This trend poses a serious risk, as estate planning is essential for ensuring the orderly transfer of assets and minimizing legal and tax complications.
https://www.kiplinger.com/retirement/steps-to-help-widows-rebuild-financial-stability
Four Steps to Help Widows Rebuild Financial Stability If you’re feeling overwhelmed, you’re not alone. But your journey to financial independence can start here.
https://www.kiplinger.com/retirement/designating-beneficiaries-in-estate-planning
All About Designating Beneficiaries in Estate Planning Choosing carefully and updating beneficiaries as your life changes, such as after a divorce, are crucial when planning your estate.
What If You’re POA, But Aging Parents Resist You Doing The Job? Estate planning includes appointing a power of attorney for finances. But when POA action is needed, some aging parents resist. Know your options if it happens to you.
https://www.kiplinger.com/retirement/estate-plan-basic-components
The Three Basic Components of a Good Estate Plan Getting your estate in order so everyone knows what you want when the time comes can save your loved ones confusion and stress.
https://www.kiplinger.com/retirement/ways-to-give-to-your-kids-tax-free-while-you-are-still-alive
Three Ways to Give to Your Kids Tax-Free While You’re Still Alive Parents can see the positive impact of their giving through tax arbitrage, giving cash (within limits) or directly paying for school or medical expenses.
https://www.kiplinger.com/retirement/estate-planning-steps-to-promote-peace-in-blended-families
Four Estate Planning Steps to Promote Peace in Blended Families The unique dynamics involved when a family includes biological children, ex-spouses and stepchildren mean it’s even more important to communicate and plan.
https://www.npr.org/2023/09/07/1198335037/the-benefits-of-birdnesting-after-divorce
The Benefits Of Birdnesting After Divorce : 1A Some parents who are no longer married are trying a strategy called birdnesting. It's an arrangement where children remain in their family home while the parents cycle in and out of the house. The hope for this approach is that it offers stability to young people during a time of major change. Accor...
If you’re an older adult frustrated by the quirks of the digital word we find ourselves in, you need to visit Missoula Aging Services' Tech Café, where a friendly face will help you with your technology issues involving your phone, tablet or laptop! The Tech Café is open from 1 to 3pm on the first Monday of every month.
New IRS Ruling: Can’t Modify A Trust To Add A Tax Reimbursement Clause A new IRS ruling, CCA 202352018, holds that if you modify a trust to add a tax reimbursement clause the beneficiaries will be deemed to have made a gift.
A Native woman launched a forensics nonprofit to address missing and murdered Indigenous people after her relative went missing and was never found After growing up on the Blackfeet Reservation, Haley Omeaso is launching Ohkomi Forensics to help families of missing and murdered Indigenous people.
https://www.kiplinger.com/retirement/estate-planning/common-estate-planning-mistakes
Common Estate Planning Mistakes Have you managed to avoid the eight most common estate planning mistakes? Your family will thank you.
I have been privileged to help Montana tenants this year as part of the Montana Eviction Intervention Project but wish there was less work to be done: https://dailymontanan.com/2024/02/06/montana-leads-nation-in-homelessness-increases-in-2023-report-to-congress/. Please support Legal Aid!
Montana leads nation in homelessness increases in 2023 report to Congress – Daily Montanan Montana leads nation in homelessness increases in 2023 report to Congress, and a Coalition to Solve Homelessness sees "dramatic" increases.
https://www.forbes.com/advisor/legal/estate-law/estate-planning-checklist/
Estate Planning Checklist: Get Your Affairs In Order Estate planning is one of the most important things you will do during your lifetime. Making a plan in case you become incapacitated and preparing for your eventual death can help you to protect your assets and preserve your legacy. There are many steps that go into this process. This estate plan
How planning for long-term care is burdening middle-class Americans Long-term care is already a huge problem in the United States, one that's growing as the baby boom population ages, and one with big financial costs. William Brangham explores the impact this is having on middle-class Americans and how they are having to rearrange their lives.
https://www.businessinsider.com/estate-tax-qtip-trust-second-marriage-inheritance-wealth-2023-12
2nd marriages can mess up inheritance plans for the kids. Here's one way the rich can keep everyone happy. The wealthy can use "QTIP" trusts to provide their widows with lifetime income, keep their assets untouched until the second spouse dies, and even save on taxes.
Council Post: Business Succession Planning: An Integral Part Of Your Estate Plan Business succession planning is not just about preparing for the eventual change in leadership that comes with the owner's passing.