Elder Law and Estate Planning Attorney
A stretch IRA was an estate planning strategy that applied to an Individual Retirement Account (IRA) inherited by a non-spouse, such as a child beneficiary. By using the stretch strategy, IRAs could be passed on, taking advantage of tax-deferred and/or tax-free Read More …
Register now for our free event with the Lorain Public Library System at the North Ridgeville Branch on Bainbridge. Estate Planning Events and Seminars At Joseph L. Motta Co., we genuinely enjoy sharing our expertise and knowledge in the areas Read More …
Register now for our free event with the Lorain Public Library System at the Domonkas Branch in Sheffield Lake. Seniors, join us for a series of programs designed specifically for you! Joseph Motta discusses why most estate plans fail to protect your Read More …
It is possible that an individual, once diagnosed as a person with special needs, sometime in the future will no longer qualify as “disabled” according to IRS regulations. The individual’s condition might have improved through remission or medical treatment, for Read More …
Thanks to recent changes in the tax law, families can now make limited transfers from existing 529 accounts to ABLE accounts with no tax consequences. Families with special needs children may be thinking about rolling existing 529 funds into ABLE Read More …
We’re all fairly familiar with the acronym CPR, for Cardiopulmonary Resuscitation – a process that uses mouth-to-mouth or machine breathing and chest compressions to restore activity in the heart and lungs when someone’s heart has stopped or they are no Read More …
We usually think that inheriting a home, a lake house, a plot of land or any real estate is a wonderful blessing, and it can be. However, without the proper estate planning, inheriting real estate from your parents also has Read More …
Hit play above to hear the new ad for Joseph L Motta Co. on our local Lorain radio station, WDLW 1380AM and 98.9FM, airing during Kool Kat Oldies. Estate Planning Attorney on Kool Kat Oldies of Lorain, OH As an Read More …
Grandparents often are particularly generous to grandchildren as they see their family’s legacy continuing on to a new generation. In many cases, grandparents feel they have ample resources and their children or grandchildren may be struggling financially. Assistance with summer Read More …
The topic of beneficiaries and retirement accounts is one we’ve covered before in “Updating Your Beneficiaries. Estate Planning Tips from Joseph Motta”, but in this post we go into more depth of how your 401(k) and individual retirement accounts (IRAs) Read More …
A growing number of people are entering into caregiver contracts with their family members. These contracts, also called personal service or personal care agreements, have many benefits, including rewarding the family member for indispensable help. Unfortunately when family caregivers keep Read More …
At Joseph L. Motta Co. our tagline is “Leave a Legacy, Not a Predicament,” because we truly want to help people to avoid leaving their family a mess to unravel upon death. The passing of a loved one is already Read More …
Congress created the rules governing the minimum distribution of retirement plan funds to encourage saving for retirement and to allow retirement assets to build up tax-free during the plan owner’s working years. But lawmakers built in provisions so the money Read More …
A recent article “Survey: Almost half of Ohio pet owners spend more on pets than partners for Christmas,” got us thinking about pet trusts. It’s a topic we haven’t posted about yet and at Joseph L. Motta Co., we have Read More …
Do you worry your parents don’t have their estate planning in order? Are you unsure how to tactfully approach the subject of wills, trusts, beneficiaries, retirement accounts, living wills, power of attorney, medical power of attorney and long term care Read More …
For many retired seniors their social security income is the main source of how bills, medical and and housing expenses are paid so we understand that every little bit counts. The cost of living adjustment announced by the Social Security Read More …
You know the importance of estate planning and have taken careful consideration to have your “ducks in a row.” You drew up a will and trust with your spouse, purchased the right amount of life insurance for your family, designated Read More …
We know some myths can be fun – think; unicorns, Pegasus, fairies and mermaids. But some myths are scary AND costly. There are many myths about estate planning, and at Joseph L. Motta Co. we hear them all. We understand Read More …
Ideally, when a second marriage joins two families together, it should be a joyous occasion that creates one bigger blended family unit. Unfortunately, when the estate plan lacks clarity, it too often also creates inheritance fights between stepparents and children. Read More …
Many people periodically update their wills or other estate plans, but don’t update who will receive distributions from their retirement plans (such as IRAs and 401(k)s) upon their deaths. Every year you should review your entire estate plan, and the Read More …
