Amy's Angle

  Once Your Kids Are 18, Make Sure They Sign These Documents by Amy Clemmons Brown, Esq. While estate planning is probably one of the last things your teenage kids are thinking about, given the dire threat coronavirus represents, when they turn 18, it should be their (and your) number-one priority. Here’s why: At 18, they become legal adults in the eyes of the law, so you no longer have the authority to make decisions regarding their healthcare, nor will you have access to their financial accounts if something happens to them. With you no longer in charge, your young adult would be extremely vulnerable in the event they become incapacitated by COVID-19 or another malady and lose their ability to make decisions about their own medical care. Seeing that putting a plan in place could literally save their lives, if your kids are already 18 or about to hit that milestone, it’s crucial that you discuss and have them sign the following documents. Medical Power of Attorney Medical p...

  Lost an Old 401(k)? Here are 6 Tips for Finding It! by Amy Clemmons Brown, Esq.      The days of working for a single employer for decades until you retire are over. Today, you are much more likely to change jobs multiple times during your career. According to the Bureau of Labor Statistics, today’s workers have held an average of 12 jobs by the time they reach their 50s.      Since people change jobs so frequently, it is easy to see you might lose track of an old 401(k) or retirement account, especially if you only worked in a position for a short time. In fact, forgetting plans is quite common: it’s estimated that roughly 900,000 workers lose track of their 401(k) plans each year. And when you forget to cash out your 401(k) upon leaving a job, your former employer might no longer have control of your account.      Even if the company you worked for is still up and running, businesses terminate 401(k) plans all the time, especially du...

  The Need For a Go-Bag Is Even More Important During a Pandemic  by Amy Clemmons Brown, Esq.      In response to a series of wildfires that ravaged Southern California in 2017, we wrote a previous article explaining why your family should have a “go-bag” ready in the event a natural disaster or other emergency strikes your home. Go-bags originated with the US military, which requires its personnel to always keep one on-hand packed with the essential items needed to survive for at least three days following a disaster.       When you have just minutes to evacuate, you won’t have time to think about what you should pack to survive the days—or weeks—to come, so the time to prepare for your family’s safety is now.       In 2020, we’re not only dealing with deadly wildfires again in California, but we’re also experiencing multiple hurricanes on the East and Gulf Coasts, and a number of devastating tornadoes and floods in the M...