Pennsylvania - South Central

One of the most overlooked and underappreciated groups are caregivers. Whether the caregivers are professionals or family members trying to help informally, caregivers are the unsung heroes who rarely get credit for all that they are doing. Today, we challenge you to thank the caregivers in your life for their services!If you know a caregiver who has chosen caregiving as their profession, they are certainly underpaid and underappreciated on a regular basis. The last three years have been especially tough for them. Your words of gratitude and thanks will go far in encouraging weary paid caregivers. If you know a family member who is providing in-kind service as a loved ones caregiver, please take time to thank them for sacrificing their own priorities and time with their nuclear families to provide care for a loved one.At Bellomo & Associates, our team is honored to serve our community and work daily with these types of caregivers. Whether paid or volunteering, caregivers make our community strong and amazing. Thank you to every caregiver out there. Happy National Caregiver Day! Contact us at 717-844-9639.

If you were to inherit a large sum of money, what would you do with it? The question may not be hypothetical, especially for millennials, Gen X or Gen Z. Thats because the baby boomers are poised to transfer some trillions of dollars in the next few decades. While everyones situation is different, if you were to receive a medium-to-large inheritance someday, youll need to decide how best to use your newfound wealth. Your first move may be to do nothing at all. Generally, you have time to decide how to handle the various elements of an inheritance. If you inherit an investment vehicle such as an IRA or a 401(k) plan, you will eventually have to make some decisions about liquidation or withdrawals. If part of your inheritance consists of cash, theres nothing wrong with moving the money into a cash management account at a financial services company until you decide what to do with it. Eventually you'll probably want to put your inheritance to work. You might want to use a Financial Advisor for guidance on how to strengthen your existing investment strategy. Your inheritance might free you to max out on your IRA for years to come or contribute more to a 401(k) or similar retirement plan. Other goals could include funding a tax-advantaged 529 college savings plan for your children. You might use part of your inheritance to donate to the charitable organizations you support. Recent changes in tax laws caused many people to stop itemizing their deductions, and charitable groups are in more need than ever. Take this opportunity to review your goals. Can you to adjust your planned retirement age? Will you now be free to travel more or pursue other hobbies? Again, a financial professional can help you answer these questions. Someone thought enough of you to leave you a valuable inheritance so use it wisely._________________________________ This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. Edward Jones, Member SIPC.

Many people come into our office wanting to know what planning they need. We often are able to demonstrate very quickly that it is impossible for someone to know exactly what another person needs, because each person is different, and everybodys goals are different. Although I cannot precisely tell every person what they need without knowing the details, there are certainly some basics that everybody should have in place regardless of their age or their wealth.A Last Will and TestamentA Last Will and Testament will allow an individual to determine where the assets will go upon their death. This document will specifically govern assets that are in the persons name but not jointly owned assets or assets that have a designated beneficiary.Financial Durable Power of AttorneyThis document will allow another individual to make financial decisions for you if you are unable to manage your own financial affairs. Unable can be because of unconsciousness, being out of the country, or just simply not being able to make those decisions. This will allow your bills to be paid while you are incapacitated, and allow your life to continue, even if you are not able to make decisions for yourself. The key to this document is having it in place before losing capacity because the alternative of guardianship is certainly not a perfect choice.A Health Care Power of AttorneyA healthcare power of attorney will allow you to have your medical decisions made by another individual in the event that you are not able to make them for yourself. If this document has a living will embedded in it, also called an advanced health care directive, that would also allow someone to know what your wishes are at the end of life or end-stage medical condition so that your wishes are carried out in that instance.  The FINANCIAL POWER and Medical Power of Attorney do not have to be the same person or people and often people tend to have them be different because one person is better with finances and maybe the other is better with medical decisions.Beneficiary designationsMany people forget about the fact that there are assets and accounts that require the designation of a beneficiary. For example, life insurance, 401(k)s, IRAs, annuities, etc. will allow you to name a beneficiary right on the contract or policy. Whoever you name as the beneficiary will receive those items outright. It is essential that everybody check their beneficiary designations and make sure that it is consistent with their other estate planning. For example, if you name everything to one person in your will but your beneficiary designations name someone else when you die, everything would be going to who is named as the beneficiary designations, and nothing will be going pursuant to the Will. This is often a case or a situation where people dont understand the implications, and it is imperative that you check your beneficiary designations often to make sure that they are up to date with the rest of your planning.Guardianship designationIf you have a child who is under the age of 18, it is crucial and essential that you name who you want to care for that child in the event that you were to pass. The guardian of your child will physically raise and take care of your child until they reach the age of 18. It is important not only to name that person but to name a backup, in case something happens to the person initially named. Without naming your preference in the document, it can certainly get ugly and may lead to a fight in a courtroom with a judge that is totally unnecessary and avoidable.If you have these basics taken care of and make sure that everything is consistent with your wishes, your bases will be covered, regardless of your age, health status, or wealth. To the extent that you do have significant wealth or that there are complications to your situation, then certainly there are other estate planning techniques that may be used. But as a basic rule of thumb, these are the essentials that everybody needs, regardless of age and wealth.If you would like to learn more about the basics or the essentials of estate planning, please give our office a call at (717) 208-2899 to learn more.

Whats not to love? You may think you know, but peek into my world as a Bellomo employee and lead of the firms Life Care Planning (LCP) program for a moment.An LCP client cant remember how to play 500 Rummy? Amber and Meg spend the morning playing cards with him. The wife of a hospitalized client is distraught because the only nursing home bed is 2 hours away? Sharee alerts Meg, who provides education, emotional support, and advocates with the discharge planner.A clients bride is struggling? Jennah gets a heads up and sends flowers to brighten her day. A clients financial planner needs clarification on next steps? Jeff immediately reaches out to him. A long-time Bellomo client is hospitalized and dying? Two team members visit to love on him and sit with the familyand our whole team grieves.Another LCP client is dying? Meg is at the bedside for hours, hugging on his bride and helping to navigate decisions. The wife isnt sure what to do now that hes died? Michelle calls to ease her worries and begin her probate education. I had lunch with the bride yesterday. We talked about her journey, the tough decisions made along the way, her gratitude to the facility and hospice teams for their exceptional care. Weeks ago, the wife insisted that I thank Jeff for hershe called our team cracker jacks. Yesterday, she talked about how thankful she is to have found our firm, citing above all else, the peace of mind she has knowing that our team is in her life, protecting her.When I returned to the office, a teammate stopped me to ask how she was doingAndi was sincerely interested and relieved to hear that she was doing well. Today I find myself thankful that this mans bride is still going to be in my life, as despite her husband having died, she has signed on for another year of maintenance and another year of LCP for herself and her disabled adult son. You knew that you loved Bellomo & Associates, right?Trust me, the Bellomo employeesyep, all of us cracker jackslove this incredible law firm just as much!