Contact Us: (248) 409-0256
 

Author: Ferri Law Editor

Home / Articles posted by Ferri Law Editor

Estate planning is a critical aspect of financial management that allows individuals to ensure the smooth transition of their assets, values, and legacies to their loved ones after their passing. While many people associate estate planning with wills and trusts, one often overlooked aspect that plays a crucial role in the process is beneficiary designations. These designations allow you to designate individuals or your trust to receive specific assets upon your death, bypassing the probate process and providing numerous benefits...

Today is National Lottery day, and with the Powerball jackpot estimating $900 million, we hope luck is on your side! Winning the lottery is a life-changing event that brings joy, excitement, and endless possibilities. Suddenly, you find yourself with a substantial financial windfall that can transform your life and the lives of your loved ones. However, with great wealth comes great responsibility. Proper estate planning becomes paramount to ensure the long-term preservation and distribution of your newfound riches. In this...

Estate planning is a critical process that ensures the smooth transfer of assets and property to your chosen beneficiaries after your passing. One vital aspect of estate planning is the proper titling of deeds. The way you hold title to your property can have significant implications for its management, transfer, and tax consequences. Before delving into the different forms of property ownership, it's essential to understand the concept of a deed. A deed is a legal document that establishes ownership of...

Creating an estate plan is a crucial step in ensuring your assets are protected and your wishes are honored after you're gone. However, simply drafting an estate plan is not a one-and-done task. Life is dynamic, and circumstances change over time, making it essential to regularly update your estate plan to reflect these changes. Life is full of changes, both expected and unexpected. Major life events such as marriage, divorce, birth of children or grandchildren, and the death of a loved...

Estate planning is a critical process that aims to ensure the smooth transfer of wealth and assets from one generation to the next. But it is also much more than that. While the technical aspects of estate planning often revolve around wills, trusts, and tax considerations, one key element that is often overlooked is the power of family meetings. These gatherings offer a unique opportunity for families to come together, discuss their wishes, and create a shared understanding of their...

When it comes to our children, we all plan for the future. We consider school districts when buying a house, find activities that fit their interests, sacrifice weekends to take them to practice or events, save money for college and try to instill in them different skills and values that will help in life. In all that planning, it is crucial to also include your wishes if something happens to you. Choosing someone to be guardian can be a difficult decision....

National Digital Privacy Day was on January 28th, reminding us to review our digital assets and cybersecurity. As the digital age continues to advance, individuals and businesses alike are accumulating more and more digital assets.  From important documents and files to social media accounts and emails, domain names and intellectual property, as well as crypto and other virtual currencies, these assets are becoming increasingly valuable, but they can be difficult to manage and protect without a proper plan in place. Here...

We begin the new year with an abundance of hope and possibilities. To start the year, many of us turn to the tradition of setting New Year’s Resolutions. Motivated by a fresh start, we create goals for the year ahead. However, about fifty seven percent of people either forget about or give up on their resolutions by February, and only nine percent of people fulfill their goals [1]. Let’s work together to beat these odds. Resolutions, or any other type of...

Every year Insure.com publishes the “Santa Index,” where they compare the many jobs St. Nick performs to Bureau of Labor Statistics wage data for similar occupations and determine a salary for Santa[1]. Though they estimated his pay would be increased from last year, up to $162,555, that only represents a 2% increase, which is reduced from the 6% increase he previously received.  Some of the tasks in the comparison include:  running the workshop (where the closest matching occupation is industrial engineer)   reindeer...

It’s the holiday season! While the holidays can get rushed, sometimes we forget to take a step back and appreciate what is right in front of us. It is important to reflect during this time of year, to say ‘Thank You’ to those we are grateful for, to recognize the accomplishments we have achieved, and review what helped get us here. Many people keep track of what they are grateful for in various and creative ways. Here are some ideas to...

Ferri Law PLLC