“The Social Security Administration has unveiled an online calculator that will project your Social Security benefits based on your actual work record. The agency has other online calculators and every year mails benefit estimates to adult workers. But this latest calculator goes further than these, allowing you to quickly run various scenarios based on earning projections and differing retirement ages. “I’m impressed. It’s a wonderful tool. It brings some clarity to one of the key sources of income for people in retirement,” says Stuart Ritter, a T. Rowe Price Associates financial planner who tried the calculator yesterday. “Knowing more about your Social Security benefits will help you plan better for what you need to be saving.” Find the Retirement Estimator on the agency’s home page at www.ssa.gov.”

Source: NAELA e-bulletin and Baltimore Sun. For the full story go to: http://www.baltimoresun.com/business/investing/bal-bz.ym.ambrose22jul22,0,4246352.column
To go to the calculator: http://ssa.gov/estimator/

While involved in a chain-reaction freeway accident, a vehicle lost control, vaulted over the center median barrier, and landed on top of plaintiff’s vehicle, resulting in traumatic brain injury.

Verdict: $22,566,373

But there were other verdicts this month too. Here’s one:

Spilled coffee caused a driver to swerve across the centerline and collide head-on with a car that then rolled over, leaving the 48-year old driver with devastating injuries.

Verdict: $16,789,835

Source: California Bar Journal

Creating an estate plan is a very personal matter, and is usually done privately, with your attorney and with your partner, if you have one. However, there are some circumstances under which estate planning should be a family affair-perhaps even a multigenerational one.

Sean Condon writes about when it might be appropriate to include the whole family in the estate planning process in his article Estate Planning Can Be A Multigenerational Matter. Condon’s article mentions specific situations in which families would want to consider planning as a whole unit, including the following:

Planning for succession within a family business.

When multiple generations of families own property together.

If the family is responsible for significant debt.

If a family has a history of supporting certain charitable foundations and desires to continue doing so.

To provide for family members who live out of the country.

To make provisions for a non-traditional family situation, such as unmarried partners.

In many situations, you won’t have to choose between an estate plan that is private and one for your extended family. There are many ways to create individual estate plans for each nuclear family while still respecting and arranging for matters that affect the extended family as a whole. Of course, the process is easier if each nuclear family is able to work with the same attorney, but it is certainly not necessary as long as each attorney and family is willing to communicate and act together.

If you aren’t sure if you should plan privately for your family or include your whole multigenerational unit in the process, give our office a call. We can help you look down the road ahead and create a plan of action that will make every member of your family feel secure.

One of the most powerful tools in the landlord’s asset protection kit is the Limited Liability Company. Unlike insurance, LLCs have no exclusions for mold or other types of liability.

Recently, Los Angeles County courts awarded another large mold verdict. Here’s the verdict as reported in the California Bar Journal:

“Water Damage

Verdict: $859,478

Water damage from a leaking bathtub forced a neighboring tenant from his unit during mold and asbestos remediation…”