Hook Law Center | Law Firm Newswire - Part 3

Virginia Beach, VA (Law Firm Newswire) January 26, 2015 – ]With a baby on the way, new parents should prioritize making a basic estate plan. An estate plan is one of the most important building blocks for a growing family. “In the midst of all the other changes associated with becoming a new parent, an estate plan is essential to protect your children in case anything should happen to you,” said Andrew H. Hook, a Virginia estate planning attorney with Hook Law Center, which has offices in Virginia Beach and northern Suffolk. An estate plan can ensure that children will […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) January 23, 2015 – Permanent life insurance policies can be used not just to guarantee income for one’s heirs in the case of untimely death, but to fund retirement. Policyholders can withdraw from the policy’s cash reserve in certain circumstances. “Using life insurance to fund retirement is not for everyone, but it can be a valuable strategy for people who have maxed out other retirement accounts and who can afford a policy,” said Andrew Hook, a Virginia elder law attorney with Hook Law Center, which has offices in Virginia Beach and northern Suffolk. Life […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) January 16, 2015 – It is often necessary for individuals to cut down on their expenses once they retire. Planning to reduce or cut out certain expenses can be an important part of a retirement plan, improving a person’s financial security without requiring them to cut out vital resources. “Many times, expenses that were reasonable while one was working do not make sense after retirement,” said Andrew H. Hook, a Virginia estate planning attorney with Hook Law Center, which has offices in Virginia Beach and northern Suffolk. Many people can save on transportation and […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) January 9, 2015 – As parents age, a wide range of challenging subjects arise, including the need to care for a parent with ailing health. The difficulty associated with these subjects and the changing nature of the relationship between older parents and their adult children can make communication a challenge. Learning how to talk to older loved ones about difficult subjects can help ensure that important issues are addressed and conflict is minimized. “How families approach these challenging subjects plays a big role in whether or not a resolution is found,” said Andrew H. […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) January 2, 2015 – Emotions can play a substantial role in making decisions about long-term care. Planning after seeing a loved one decline in health may drive some people to seek long-term care insurance, but they should also consider their finances rationally. “Planning for long-term care means accepting that your health may decline to the point that you can no longer care for yourself,” said Andrew H. Hook, a Virginia elder law attorney with Hook Law Center. Often, people avoid thinking about long-term care because they would like to believe that they will never […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) December 29, 2014 – Assisted living facilities are designed to provide residents with help with daily activities while allowing them to retain their independence as much as possible. As a person considers moving to an assisted living facility, he or she should thoroughly research the options in order to choose a facility that best meets all needs. “One of the most important things to consider is what kind of assistance you will need. Cooking, using the restroom, bathing, dressing, and managing medications are common areas of assistance,” said Andrew Hook, a Virginia elder law […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) December 23, 2014 – As individuals age and live with chronic illnesses, their medical and personal care needs can become complex. Geriatric care management services help older adults and their loved ones coordinate all aspects of care. “Geriatric care managers have extensive knowledge of elder issues and the resources in the community. They can help seniors and their loved ones find and access needed services,” said Andrew Hook, a Virginia elder law attorney with Hook Law Center, which has offices in Virginia Beach and northern Suffolk. Broadly speaking, a Geriatric Care Manager’s (GCM) role […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) December 15, 2014 – When a person becomes incapacitated and is no longer able to make medical, financial or legal decisions, it becomes necessary for another person to step in and make decisions on his or her behalf. Power of attorney and guardianship are two vehicles by which this may occur. A power of attorney is a legal document which a person uses to designate someone to act on his or her behalf if he or she is incapacitated. A power of attorney can be general, granting the agent power over all of the […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) November 20, 2014 – A study by Fidelity Investments found that 57 percent of retirees wish they had done more retirement planning before leaving the workplace. As retirement approaches, a checklist to be completed at key stages can help ensure that the process is as smooth as possible. “Retirement represents an immense change to a person’s lifestyle and financial situation,” said Andrew Hook, a Virginia elder law attorney with Hook Law Center, which has offices in Virginia Beach and northern Suffolk. “Having an actionable plan can make that transition easier.” Retirement savings should start […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) November 6, 2014 – Surviving spouses named as a beneficiary of their deceased spouse’s IRA should carefully consider their options for handling the account. The primary options are to assume the IRA, inherit the IRA, take a lump-sum distribution or disclaim the account. “How an IRA is handled after a spouse’s death can have major tax and financial consequences for the spouse beneficiary,” said Andrew Hook, a Virginia estate planning attorney with Hook Law Center. Assuming an IRA means transferring the assets into an IRA in one’s own name. For tax purposes, the IRA […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) October 29, 2014 – When a person is named as executor of an estate, he or she becomes legally responsible for protecting the assets of the decedent until the estate administration is complete. This can be a complicated, lengthy process, and organization is the key to keeping the process manageable. “Estate administration can be complex, especially if the estate planning is incomplete or there are disputes about the estate,” said Andrew Hook, a Virginia estate planning attorney with Hook Law Center. “Staying organized can help.” From the outset, the executor should understand his or […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) October 20, 2014 – Speaking to older parents about challenging subjects, including finances or the need for assisted living, can be stressful for both parties. Small disagreements can take on enormous significance, and overall communication can break down. Although there is no way to eliminate the stress inherent in such difficult discussions, good communication techniques can help parents and their adult children navigate their challenges effectively. “When adult children learn how to communicate with their aging parents, both the parents and children can appreciate one another and connect during the final stages of the […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) September 25, 2014 – On Saturday, September 27, 2014, the Hook Law Center will hold a free “Shred Day” event that will also be used to raise awareness and funds for the fight against Alzheimer’s disease. Members of the public can bring old documents and records to the Hook Law Center in Virginia Beach, where they will be securely shredded on-site. During the event, the Hook Law Center will accept donations to the Alzheimer’s Association, and its legal team will invite anyone who is interested to join the Hook Law Center Walk Team for […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) September 2, 2014 – A report from the Nursing Home Report Card, a Families for Better Care project, ranked Virginia poorly on nursing home quality measures. The state received a grade of “D,” with an overall ranking of 33rd out of 50 states. “The fact that there are many nursing homes in Virginia that have problems means that it is that much more important for seniors and their families to engage in proper planning and research before choosing a nursing facility,” said Andrew Hook, a Virginia elder law attorney with the Hook Law Center. […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) August 26, 2014 – Sometimes, one of the partners constructing a prenuptial agreement is a business owner. Typically, the document will then be designed to ensure that preexisting assets are completely protected in case of divorce. This often leads to restrictive prenuptial agreements that keep all preexisting assets separate. Unfortunately, that safe, restrictive prenup can prevent the surviving spouse from receiving assets upon the other spouse’s death. “A prenup is essential for protecting your assets in case of divorce, but it doesn’t always account for problems that may occur if you were to die,” […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) July 29, 2014 – Employers who offer 401(k) retirement savings accounts are increasingly providing the option of a Roth 401(k). This presents workers with the same question that IRAs do: which to choose, traditional or Roth? According to a prominent Virginia estate planning attorney, the choice depends on individual circumstances, but Roth 401(k)s may generally offer greater tax flexibility. “When an employer offers the option of contributing to both a traditional 401(k) and a Roth 401(k), it can be wise to make at least some Roth contributions,” said Andrew Hook, an attorney with the […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) May 8, 2014 – It is increasingly important for comprehensive estate plans to account for assets managed online. “Traditionally, when someone died without a comprehensive estate plan in place, heirs could use paper records to piece everything together,” said Andrew Hook, a Virginia Beach estate planning attorney. “But now, that is not always the case. Many people are opting to manage checking accounts, retirement accounts and investment accounts online. If those assets are not properly documented, it may be difficult for rightful heirs to gain access to them or even to become aware of […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) April 22, 2014 – The Social Security Administration recently announced an expedited approval process for disability claims filed by disabled veterans. The new process was announced in a statement from Acting Commissioner of Social Security Carolyn W. Colvin. It applies to veterans with a disability compensation rating of 100 percent Permanent & Total (P&T) from the Department of Veterans Affairs (VA). These veterans’ applications for Social Security Disability Insurance will be treated as high-priority and be decided on an expedited basis, similar to those under the Wounded Warriors program. Hampton Roads veterans attorney Andrew […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) March 17, 2014 – Legal news outlet JD Supra recently asked attorneys to describe common, costly mistakes people make when preparing estate plans and the best ways to prevent or fix them. Hampton Roads estate planning attorney Andrew Hook weighed in with his take on some of the top issues reported by JD Supra. Procrastination. Too many people, perhaps unwilling to face their own mortality, wait until the very end of their lives to consider any sort of estate planning. Many will never get around to it at all. “The earlier estate planning begins, […]


Continue reading full article »

Virginia Beach, VA (Law Firm Newswire) February 28, 2014 – A part of the Affordable Care Act (ACA) expands treatment for people with developmental disabilities, but some states may leave insurers with ways to sidestep the new requirement. The ACA, commonly called “Obamacare,” requires health insurance plans for individuals and small groups to include coverage for “rehabilitative and habilitative services and devices.” Most insurance plans already cover rehabilitative services, which help people regain skills, such as walking or talking, after a debilitating injury or illness, such as a stroke. “But habilitative services are often excluded,” explains Virginia special needs attorney […]


Continue reading full article »