Planning for Singles
If you are single, then you are in good company. According to the most recent U.S. Census, more than half of all adult Americans are single, too. Whether you just turned 18 or are 118 one thing you share with your married counterparts is the need for essential estate planning.
Even if you do not have two dimes to rub together, you are your estate. Did you know the law requires every adult American to make his or her own personal, financial and health care decisions? Who would make your basic decisions if you are legally incapacitated due to a serious injury or illness?
Planning for Married Couples
With each marriage come new rights and new responsibilities. If you already have an estate plan created when you were single, then you must bring your estate plan up-to-code to reflect your wedding vows.
Unfortunately, many married couples mistakenly believe that they can make personal, health care and financial decisions for one another should either spouse become legally incapacitated due to a serious injury or illness. Nothing could be further from reality!
Planning for Minor Children
Are you the parent of minor children? If yes, then they are your most valuable treasure. So, what arrangements have you made for their care should something happen to you and their other parent?
As with your own personal, health care and financial decisions, would you rather select the guardians (i.e., back-up parents) yourself, or let a probate judge make the selection without your input? Only through proper legal planning can you select the guardians.
Planning for Blended Families
Times have changed. In the new millennium, whether due to the death of a spouse or through divorce, blended families now outnumber traditional nuclear families. And the number is likely to grow, based on current statistics and trends.
Many blended families face unique social, psychological and economic challenges. As a result, over 60% of second marriages end in divorce. Fortunately, there are numerous organizations and support groups dedicated to helping blended families with these challenges.
Planning during Peak Earning Years
Are you between age 40 and 55? If yes, then congratulations. Research has shown that you are in your peak earning years. And that is a very good thing.
Chances are good that you have some expensive life events going on right now, unlike when you were among the Married Couples without children.
Planning when Nearing Retirement
Just a moment ago you were in the thick of your busy, busy Peak Earning Years. Now, you can see a new adventure is rapidly approaching your front windshield. What is it?
Are you getting ready?
Chances are good that your children have left the nest. Perhaps you are assisting your aging parents with their personal, health care and financial responsibilities.
Planning when Single Again
Whether due to divorce or death, you are now Single Again.
You may have children and even grandchildren. In any event, you need to create (or revisit) your estate plan.
Did you know the law requires every adult American to make his or her own personal, financial and health care decisions? Now that you are single again, who would make your basic decisions if you are legally incapacitated due to a serious injury or illness?
Planning for Retirement
You have arrived. Just a moment ago you were Nearing Retirement. When did you get to this place in life so quickly? Yikes, what do you need to do right now in preparation for that day?
This is often an exciting, yet bittersweet time of life.
Welcome to Fong Law Group
Fong Law Group is a premier law firm in Southern California. We have been serving Cali-fornia for more than a decade. We are a boutique law firm focusing on meeting client’s needs. Over the years we have successfully handled numerous cases, winning plaudits from our clients, as can be seen in our clients’ testimonials. Our principal, Mr. Daniel Fong, has been practicing law since 1994. He currently serves as a legal advisor for the Chinese Consolidated Benevolent Association. Mr. Fong also worked at the Hong Kong office of Baker and McKenzie, one of the largest international law firms of the world. Our practice areas include elder law and estate planning, and immigration law.
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300 S. Garfield Ave. Suite 207
Monterey Park, CA 91754
Monterey Park, CA 91754