As 2016 comes to an end, many people start discussing their New Year’s Resolution. Many evaluate their retirement accounts, their tax liability and other pressing issues. What many fail to do is evaluate their need for a Last Will and Testament.
Milford Law wants to remind you this is the best time to evaluate your needs. Ask yourself; (1) Do I have a Will?; (2) Should I review my Will (if you have one of course) to determine if any changes are needed?
If you don’t have a Will you need one. If you have had a life changing circumstance, you should review your Will. Regardless, you really should review your Will no more than every five (5) years.
For those of you who don’t have a Will, the cost of not having one is so much greater than you may think. We have all heard stories where the long lost second cousin from Italy now gets a share of an estate despite never meeting the decedent. Or more importantly what about the spouse who loses her inheritance to her minor child when her husband passes away because there was no Will? In that instance, one may think that the mother/spouse would control the funds but the Court might appoint a Guardian ad Litem and she would have no control!
These are not just situations that are elaborately thought up to convince you all to obtain a Will. Rather, they are basic facts of some real life cases that we have handled for clients.
So as 2016 becomes 2017 give us a call to revise your Will, draft a new Will or discuss your estate planning concerns. It's part of what we do!
With the holidays upon us, Layaway Contracts are very popular and have had their place in the retail world for decades. For the everyday shopper, a layaway program is a great program because it allows a shopper to set aside an item and pay for it a little at a time. With the economy being what it is, many use the layaway contract as a means to provide gifts for family, friends and loved ones throughout this Holiday Season. But is it safe?
Layaway is an agreement that many retailers use which require payments towards a particular item. They can be weekly payments or even monthly payments. The store will generally charge a fee in order to set the item aside into the “layaway program.”
In most instances, if you don’t make your payments under the Layaway Contract, you will lose all of the money you previously paid towards that item. This is due to the fact that the store will generally charge you a restocking fee which, not-surprisingly, will take up most, if not all of the payments a shopper had previously made.
Under those terms, you could pay for an item you never get, the store gets your money and still keeps the merchandise to sell to another buyer at retail. Sounds like a great deal for the retailer; not so much for the consumer.
This is not to say that all retailers have such one sided agreements, but it does once again show the need to review any type of agreement, whether a layaway contract or a contract to have work done on your home. The bottom line is you must carefully look over any type of agreement you sign. Better yet, have an attorney review it prior to signing same. In this digital age, many retailers, automobile dealers and legitimate vendors will provide access to the terms of their agreements online. Take a look!
Milford Law has drafted, reviewed and counseled thousands of clients in contract matters. If you have a matter you would like us to review, please contact us with this form or call at (203) 874-6773.
Talking about death and dying is never fun. But, unfortunately, it is necessary. If you don’t have a Will, you should. If you have not reviewed your Will, you should (at least every five (5) years unless there is life changing circumstance...like you win the lotto!). Failure to do so could mean your long-lost cousin from Lithuania gets a windfall even though the two of you never met (yes – that happened in a case I handled!).
Today, however, I am going to let you in on one of the most interesting changes in the world of estate planning and directives. That is the new Uniform Power of Attorney Act. This new act has become effective as of 10.1.16 and impacts everyone with a proper basic estate plan.
Some tips are:1. You must use the new forms after 10.1.16;
We are pleased to announce that our law firm has been named a 2016 Law Firm 500 Honoree. Earlier this year we were nominated for our growth, operational excellence and commitment to client service. It is an honor to be included as one of the top one-hundred fastest growing law firms in America.
We would like to use this opportunity to thank our loyal clients, and partners who have supported us as we have grown. Partner, Vincent J. Averaimo said, "We are proud to be recognized for our efforts and commitment to client service and innovation in technology. We have made great efforts to afford our clients with all of the advantages of a large law firm while maintaining the culture and personal attention of a small firm."
Beyond being a highly-experienced general practice law firm, great care is taken in providing our clients with the utmost in personal service. We strive to be as accessible as possible, communicating personally rather than through voice mail or menus. For more information about our firm please visit: milfordlegal.com or directdefault.com
As we continue to grow, we encourage you to follow our progress, and stay in touch! You can view the full list of Law Firm 500 Honoree firms here: https://lawfirm500.com/award-honorees/