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Advanced Directives allow a person to make health care decisions.   The standard Advanced Directives documents in Conecticut are Appointment of Health Care Representative, Living Will, Document of Anatomical Gift, and Designation of Conservator of the Person.   There is a Consolidated single form which people can use.

The Connecticut Department of Social Services has a package explaining the forms, and providing the Consolidated form.

The forms can be found using the link below (you will need to cut and paste into your web browser).

www.ct.gov/agingservices/lib/agingservices/pdf/advancedirectivesenglish.pdf

These forms are a part of anyone’s estate planning.

For further information or assistance, please feel free to contact

Attorney Robert M. Singer

2572 Whitney Avenue

Hamden, CT  06518

203-248-8278

rsingerct@yahoo.com

 

April 28, 2018

I have heard several stock market experts state that stocks are great because you are virtually certain of making money over any 30 year period.  That is too say, in any period in which you start investing in stocks, at the end of 30 years you will have made money.

So lets say that you start investing on January 1, 2018, if you keep your money in the stock market until January 1, 2048, you will be a financial winner.  This is general advice.

I spoke with someone in 2009 who had a substantial portfolio of stocks in large corporations.  We talked about the stock market decline.  I told him that the value of his stock portfolio would go back up.   His response was that he won’t be alive when the market fully recovers.  He died the following year.

We are now in a situation in which interest rates are going up.   When interest rates go up, bond prices go down.  Also, stock prices usually go down.

If you or someone you know have lost money in investments, please feel free to call Attorney Singer to discuss your situation, including securities arbitration.

Attorney Robert M. Singer

2572 Whitney Avenue

Hamden, CT  06518

203-248-8278

rsingerct@yahoo.com

As the weather is getting warmer, boaters are ready to get out and enjoy the outdoors.   Boaters need to keep safe to avoid accidents.  There are many causes of accidents.

1. As with motor vehicle accidents, alcohol is a major cause of boating accidents.   Drug use can have a similar effect on a person’s ability to safely handle a boat.
2. Boaters need to slow down.   Traveling fast increases the risk of an accident.
3. Operator must focus on driving.   Perhaps it is easier to fail to stay focused in a boat, than in a car.    Boaters are out to enjoy the day.  A boat driver needs to  be alert at all times.
4. Drivers have to view all of the surrounding area.   A boat can be headed to an area in which there is not a clear view ahead, resulting in a crash
5. A boat driver needs experience to keep safe.     This is no different than a car driver.  More experienced drivers tend to have less accidents.
6. A boat can fail.     A boat is a machine, which needs regular maintenance.  Protect yourself and your passengers, with a maintenance schedule.  Have a good boat mechanic.
7. A boat can be hit with the force of a wave, or a wake from other vessels.    A boat driver needs to be aware of causes of waves, and of other surrounding vessels.
8. Weather changes are dangerous.    Always check weather conditions, and expected weather conditions before going out.   When in doubt about the weather, stay indoors.
9. Hazardous Waters.     The more boats in a particular area, the more congestion, and the greater likelihood of a collision.

Similarly, there are areas which are hazardous because of shallow water, or rocks.    A boat driver needs to know the area in which they are out boating, to prevent an accident, due to the natural contours of the water area.

Stay safe and enjoy the Summer.  If you or someone you know has been injured in an accident, please feel free to call

Attorney Robert M. Singer

2572 Whitney Avenue

Hamden, CT  06518

203-248-8278

rsingerct@yahoo.com

Serving all of Connecticut

As the weather is getting warmer, the motorcycles are returning to the ride. Motorcycle drivers need to drive with caution, to avoid accidents. There are certain types of common causes of accidents.

1. A car turns left in front of a motorcycle.

A car does not see a motorcycle. Therefore, a car turns left, which causes a collision.

A motorcyclist needs to look out for a car, in an intersection, who is turning. In addition, watch out for someone coming out of a parking lot or driveway.

2. A motorcyclist hits a slippery item on the road.

A motorcycle can suddenly hit a spot of gravel, and lose control. Other common types of slippery items include leaves, and horse dung. Anything that is slippery on the road has a potential to cause an
accident.

3. A motorcycle rider goes too fast into a corner turn.

There are many lessons on how to ride through the turn. However, to be safe you need to slow down as a rider.

4. A car turns into a motorcycle’s lane.

Oftentimes, a car driver does not see a motorcycle, as the motorcycle is in a blind spot. A motorcycle rider needs to determine where a car’s blind spots are located, and ride defensively.

5. A car hits a motorcycle from behind.

Keep the motorcycle visible. Make sure all lights are working properly. With bad weather, particularly fog, it may be too dangerous to go for a motorcycle ride.

Remember to wear appropriate colors for clothing: high viz jacket. A motorcycle rider wants to have himself or herself stand out.

Where possible, a motorcycle should stop in front of a car which is already stopped. The stopped car can be protection against a rear end collision.

6. Unsafe group ridding

You have a group of motorcycles out riding, and one rider suddenly stops, and causes a collision with another rider. All riders need to work together to protect each other. Have a plan for group riding.

7. Rider hits too hard on the front brakes.

Motorcycle riders must learn to properly and effectively use both the front and the back brakes.

New technology gives motorcycle owners the ability to buy a motorcycle with ABS.

8. A car opens its door

A motorcycle is being driven near the side of a road, with a lot of parked cars. A driver in a parked car opens the door, causing the motorcycle to hit the car door.

Avoid driving in the right lane, close to a lane with parked cars. A motorcycle rider needs to give a driver in a parked car enough room to open a door.

9. Slippery Roads.

This is commonly oil and diesel on the road. Have good tires on your motorcycle. The tires are the only thing between your motorcycle and the road.

10. Alcohol – involved in about 50% of all motorcycle accidents. Avoid it.

If you or someone you know has been injured because of an accident , please feel free to contact

Attorney Robert M. Singer
2572 Whitney Avenue, Hamden, CT 06518
203-248-8278
rsingerct@yahoo.com

For many taxpayers, the largest itemized tax deduction is for home mortgage interest.  The Tax Cuts and Jobs Act changed the rules on this deduction, for an eight year period.

Acquisition debt is debt that is used to purchase, build, or substantially improve a primary residence or second home.     By definition, substantial improvement is more than general maintenance of a home.

The deduction applies to acquisition indebtedness secured by a qualified residence.   Acquisition indebtedness includes debt from refinancing acquisition debt, up to the amount and term of the refinanced indebtedness.  In other words, if you have 14 years on an old mortgage with a 180,000 balance, a refinanced loan is considered acquisition indebtedness for the remaining 14 year term and $180,000 balance.

Old law allowed for a mortgage interest deduction on up to $1,000,000 of acquisition debt ($500,000 for married filing separately).   Under new law, effective tax years 2018 to 2015, acquisition indebtedness is reduced to $750,000 ($375,000 for married filing separately).

There is a special exception to the new law, which generally allows the application of old law for debt up to $1,000,000 if the mortgage is refinanced, for the term of the original loan.

The Tax Cuts and Jobs Act drastically changed the rules with regard to the deduction of interest on a home equity loan.

The Act applies for  8 tax years, beginning in 2018.

The law eliminates the itemized deduction for interest on home equity loans (second mortgages).   The law applies regardless of the date that the debt was incurred.

Therefore, for example, if you took out a home equity loan in 2014, and are still paying off the loan, you lose the deduction for home equity mortgage debt interest.     (Under prior law, interest on up to $100,000 in interest on home equity debt could be deducted as an itemized deduction).

Unfortunately, this can result in a tax increase for many middle income taxpayers.   By eliminating a deduction, the government is increasing taxes.

The Tax Cuts and Jobs Act (Trump Tax Plan) changed the rules for the income tax treatment of alimony.

For divorces which occur after 2018:

the payor-spouse can no longer take an income tax deduction for alimony paid

the payee-spouse will no longer have to report the alimony received as taxable income

Therefore, one can expect that there will need to be a reduction in the amount of alimony paid (and received) for divorces which occur after 2018 (on or after January 1, 2018).

In many cases one party is ordered to pay child support and alimony.  The child support is not a tax deduction for the payor, and not income to the payee.   With the tax law changes, there will no longer be tax savings to the payor for alimony, which will likely reduce the payer’s ability to afford an alimony payment.    (there will be two payments – child support and alimony – with no tax deduction)

Before the tax law changes, the alimony payment resulted in income shifting, reduced taxes to the payor, and higher taxes to the payee.   Because the payor spouse’s tax rate was almost always higher than the payee spouse’s tax rate, this resulted in reduced total income taxes paid to the government.

The alimony payment is made after any payroll taxes are paid (social security taxes and medicare taxes).    For a payor in a high tax bracket, the loss of this alimony deduction can potentially cost thousands of dollars per year.

Mutual funds can increase returns by buying high risk investments, which have high returns.

For example, a mutual fund may expect to get higher than normal returns by investing in FANG stocks (Facebook, Amazon, Netflix, and Google).  The fund managers are chasing high returns.

This strategy can work well as long as the high risk stocks are giving high returns.    The problem with the strategy is if the stock market or high risk stocks take a large hit, reduction in price.  At this point, the mutual fund return can quickly become negative.

Therefore, at this point in the stock market cycle, investors should make sure to adequately diversify their portfolio, and review the stock portfolio which are in any mutual funds which they own.  A mutual funds is only as good and safe as its underlying investments.

If you have lost money from investing, and need assistance with securities arbitration, please feel free to contact

Attorney Robert M. Singer
2572 Whitney Avenue, Hamden, CT 06518
203-248-8278
rsingerct@yahoo.com

Drugged driving can be from both illegal and prescription drugs.

According to the 2016 National Survey on Drug Use and Health (NSDUH), 20.7 million people 16 and older drove under the influence of alcohol in the last year and 11.8 million drove under the influence of illicit drugs.

Not surprisingly, marijuana is the drug most often found in the blood of drivers involved in motor vehicle accidents.   Tests are available to determine the level of THC in a driver’s blood.  Unfortunately, in many cases, drivers used not only marijuana but also alcohol or other drugs.

In addition, drivers sometimes used prescription drugs before driving.   Commonly, the drug used is a pain reliever.  Unfortunately, there is many people in the U.S. with opioid problems.   Therefore, until the opioid epidemic is under control, we can expect to see more accidents related to pain killers.

 

If you or someone you know has been injured because of an accident from a driver who was high on drugs, please feel free to contact

Attorney Robert M. Singer
2572 Whitney Avenue, Hamden, CT 06518
203-248-8278
rsingerct@yahoo.com

 

 

Netflix has had a long, upward ride, in its stock price.

In 2008, Netflix’s stock  could be purchased for under $4.  In May of 2010, a share of stock could be purchased for $14 per share.  In 2012, the share price went down to under $12.  The share price is now $252, on 2/2/2018.   On 8/29/2017, the share price was $165, for a gain of almost $90 in approximately 7 months.   This is nothing less than incredible.

The price-earning ratio is now almost 100 (92.74).  I looked at an estimate of the 5 year earnings growth rate of Netflix, which is 26.67%.   Watch out for any miss on the earnings growth.

We have past data, for the years ending 12/31/2014 to 12/31/2017.  In that period, revenue went from approximately $5.5 billion to $11.7 billion, approximately double.  Net Income increased from $226.8 million to $559 million.

The risk with Netflix stock is if earnings growth is not as expected, the stock returns to a normal price-earnings ratio.  The industry average price-earnings ratio is under 12.

If you have lost money from investing, and need assistance with securities arbitration, please feel free to contact

Attorney Robert M. Singer
2572 Whitney Avenue, Hamden, CT 06518
203-248-8278
rsingerct@yahoo.com