What You Need to Know About the SECURE Act

What You Need to Know About the SECURE Act

By David Inabinett, Attorney at Law The SECURE Act (Setting Every Community Up for Retirement Enhancement Act of 2019) was signed into law December 20, 2019, and most of its provisions became effective January 1, 2020. The Act is intended to make it easier for Americans to save for retirement and decrease the percentage of us who outlive our retirement funds. While the purpose of the Act is positive, some of these changes may result in unanticipated tax bills for beneficiaries who were previously able to defer or “stretch” the withdrawal of such accounts over an entire life expectancy. The key provisions of the SECURE Act include: The age limit to begin mandatory distributions from retirement plans has been increased from 70 and a half years of age to 72 in recognition of the fact that people are living longer. This does NOT impact anyone who turned 70 1/2 before January 1, 2020. If you are still working at 70 1/2, your retirement savings may remain untouched for an extra 18 months.People of any age may now contribute to a traditional IRA. The prior age cap of 70 1/2 has been removed, so if you are still working and want to build your retirement account and get the tax benefits of a traditional IRA, you may do so. Timing is such that those turning 70 1/2 in 2019 will not be able to claim the IRA deduction for 2019’s taxes but will be able to do so for 2020 and moving forward. In addition, you now have extra time to convert your traditional IRA to a Roth IRA, should...
Drew Nelson Promoted from Associate to Partner

Drew Nelson Promoted from Associate to Partner

Lexington native and Elon University graduate joined Brinkley Walser Stoner in 2013 Lexington, NC – Brinkley Walser Stoner, PLLC, today announced that attorney E. Drew Nelson has been promoted from Associate Member to Member (the equivalent of Partner) effective January 1, 2020. His practice is concentrated in Estate Planning, Elder Law, Estate Administration, Corporate Law, Real Estate Law, and Gun Trusts. “We are happy to announce Drew’s promotion to Member,” says David Inabinett, Managing Member. “Over the past several years, Drew has become a valued member of the team, working with clients on a variety of cases and representing the firm at public events and speaking engagements. We look forward to Drew continuing to grow and share his knowledge with new associates.” “I am very pleased to be recognized for my work with the firm,” says Nelson. “Brinkley Walser Stoner has such a strong sense of history and community. I know I made the right choice when I joined the firm almost seven years ago and expect I will probably retire from the firm in the distant future!” Nelson became licensed to practice law in North Carolina in 2012. He graduated from Elon University with a BA in history/sociology before attending the Elon University School of Law, where he earned a Juris Doctor degree. Brinkley Walser Stoner prides itself on providing new and cutting edge legal counsel built on a foundation of knowledge and integrity. Brinkley Walser Stoner’s attorneys are first and foremost counselors, advising clients on their legal rights and options for appropriate solutions. Practice areas include business law, real estate, litigation, elder law, estate planning, injury and...
December Update

December Update

Attorney William Miller to Join Firm Local attorney Will Miller will join the firm as an Associate Attorney effective January 1, 2020. His practice will include Elder Law, Estate Planning and Administration, Business Law, Criminal Law, Traffic/DWI, and Family Law. Read More It’s Empty Stocking Fund Time! Once again this year the firm is supporting the Empty Stocking Fund. The Empty Stocking Fund was founded in 1981 to help provide a brighter Christmas to needy area children and families. The Dispatch coordinates this annual program that provides Christmas gifts for teens (ages 13-16) who do not qualify under many other gift programs and whose families cannot afford to buy presents. The Dispatch partners with the Salvation Army of Davidson County to manage the Fund. We are proud to support our local community Upcoming Events Estate & Long-Term Care Planning It’s never too early to begin planning for the future. The US Department of Health & Human Services estimates 70% of those 65+ will need long-term care in their lifetime, so having an estate plan in place that takes into account long-term care needs is common sense.  Join attorney Ryan McNeill of Brinkley Walser Stoner to learn about estate and long-term care planning. Date: Thursday, January 9, 2020 Time: 6:00 p.m. – 7:30 p.m. Location: J. Smith Young YMCA Reserve your spot by calling the Y at (336) 249-2177. Learn More Holiday Closings As we prepare to spend valuable time with our families for the upcoming holidays, please be advised of our office closings Closed December 24th-27thClosed January...
Attorney William “Will” Miller to Join Brinkley Walser Stoner

Attorney William “Will” Miller to Join Brinkley Walser Stoner

Son of former law firm partner to expand firm’s support of Davidson County clients Lexington, NC – Brinkley Walser Stoner, PLLC, today announced that local attorney Will Miller will join the firm as an Associate Attorney effective January 1, 2020. His practice will include Elder Law, Estate Planning and Administration, Business Law, Criminal Law, Traffic/DWI, and Family Law. “I am excited and honored to join the firm where my father spent so many years,” says Miller. “I enjoy the practice of law because I get to help people, usually by educating them on the legal consequences of various courses of action. While I have been a solo practitioner for the past few years, managing day to day business operations was not as rewarding as working with clients. This move will allow me to spend more time doing what I love.” Miller became licensed to practice law in North Carolina in 2009. He graduated from the University of North Carolina at Chapel Hill before attending Wake Forest University School of Law, where he earned a Juris Doctor degree. Will practiced law in Kernersville and Raleigh before opening his own law office in Lexington. Miller, who is usually accompanied by his guide dog (a yellow Labrador retriever named Anja), battled leukemia almost 20 years ago and lost his sight during treatment. Based on his past personal and legal experience, Miller is well versed with the Americans with Disabilities Act. Miller is a Lexington native and the son of retired Brinkley Walser Stoner partner, G. Thompson Miller. Will Miller was featured in a 2017 article in The Dispatch titled, “Blind lawyer comes...
November Update

November Update

Alzheimer’s Awareness Month November of 1982 marked the official designation of Alzheimer’s Awareness Month. Communities since then have made it their mission to not only increase awareness of the disease but raise funds toward the research for a cure, too. Read More U.S News Best Law Firms Congratulations to Brinkley Walser Stoner for being named one of the best law firms in the Greensboro metropolitan area for 2020. The annual ranking by U.S. News Best Lawyers “Best Law Firms” recognizes the firm in two-tier categories, Elder and Trust & Estates Law. National Family Caregivers Month Since at least 2000, presidents have designated November as National Family Caregiver Month to honor the more than 40 million caregivers across the country who support aging parents, ill spouses or other loved ones with disabilities who remain at home. Learn More A Heartfelt Thank You This holiday season, Brinkley Walser Stoner has made donations to several food banks including, Pastors Pantry, Second Harvest Food Bank, and Greensboro Ministries, as a way to honor those who have referred clients to the firm. We appreciate your confidence and support. Have a wonderful holiday...
Alzheimer’s Awareness Month

Alzheimer’s Awareness Month

Ryan McNeil | November of 1983 marked the official designation of Alzheimer’s Awareness Month. Communities since then have made it their mission to not only increase awareness of the disease but raise funds toward the research for a cure, too. What is Alzheimer’s? According to the National Institute of Aging, Alzheimer’s disease is a form of dementia. It is an irreversible, progressive brain disorder that slowly destroys memory and thinking skills, and, eventually, the ability to carry out the simplest tasks. There is no cure for Alzheimer’s. However, with new medical treatments, clinical trials, and with the help of advancements in technology doctors provide Alzheimer’s patients with a somewhat better quality of life. The Centers for Disease Control and Prevention (CDC) reports “The number of people living with the disease doubles every 5 years beyond age 65 and this number is projected to nearly triple to 14 million people by 2060.” Symptoms of Alzheimer’s Every person who is diagnosed with Alzheimer’s is the not the same. There are signs or indicators that manifest differently in people. However, there are symptoms that you should be on the look out for. According to the Alzheimer’s Association there are 10 symptoms of Alzheimer’s Memory loss that disrupts daily lifeChallenges in planning or solving problemsDifficulty completing familiar tasksConfusion with time or placeTrouble understanding visual images and spatial relationshipsNew problems with words in speaking or writingMisplacing things and losing the ability to retrace stepsDecreased or poor judgmentWithdrawal from work or social activitiesChanges in mood and personality Who Does Alzheimer’s Affect? Regular responsibilities like remembering to pay bills, turning off electrical appliances or just trying...
October Update

October Update

While con artists may target anyone, older Americans are often seen as an easier target. Seniors should not have to worry about scams, con artists, or losing money to dishonest people. Sadly, statistics show that is the case for a lot of older Americans. According to a 2019 article by CNBC contributor, Maggie Fitzgerald, “Seniors lose an estimated $2.9 billion annually from financial exploitation.” Read More N.C. Attorney General Warns Seniors For an hour, Stein, Buser, and Sluder addressed a number of schemes that affect seniors ranging from contractors inflating their prices after storms to fake calls from the IRS. Learn More Medicare Enrollment Period The medicare enrollment period is now open. Medicare beneficiaries have the opportunity to compare and evaluate their current plan and make changes as necessary. By comparing plans during the open enrollment period, Medicare beneficiaries can save money and ensure their 2020 plan is best suited to meet their needs. Read More Lexington Sportsmen’s Saturday Brinkley Walser Stoner is a proud sponsor of Sportsmen’s Saturday 2019. The annual event will be held at the Lexington Historic Southern Railway Freight Depot. The event will be held on November 2. Learn More 10 Common Mistakes People Make in Estate Planning Join attorney David Inabinett of Brinkley Walser Stoner to learn about common mistakes and misconceptions related to estate planning. Date: Wednesday, November 13, 2019 Time: 10:00 a.m – 11:00 a.m. Location: Smith Senior Center, 2401 Fairview St Greensboro, NC 27405 The event is free but registration is required. To reserve your space call (336) 373-7564 Learn...
Watch Out For Scams

Watch Out For Scams

Bradley Hunt While con artists may target anyone, older Americans are often seen as an easier target. Seniors should not have to worry about scams, con artists, or losing money to dishonest people. Sadly, statistics show that is the case for a lot of older Americans. According to a 2019 article by CNBC contributor, Maggie Fitzgerald, “Seniors lose an estimated $2.9 billion annually from financial exploitation.” That is a disturbing statistic. Why Target Seniors? Why do scammers target senior citizens? They believe seniors will be more likely to fall for their scams. Advancements in technology have made it easier for scammers to target unsuspecting consumers. Age, income level, or lack of understanding can be contributing factors in scams targeting seniors. Scammers have even gotten good at spoofing phone numbers to make it appear they are coming from a legitimate source and many of the emails they send look and sound like they are coming from real companies. Common Scams According to the National Council of Aging, there are 10 common scams used on seniors. Medicare/health insurance scams               Counterfeit prescription drugs   Funeral & cemetery scams           Fraudulent anti-aging products  Telemarketing/phone scams            Internet fraud Investment schemes Homeowner/reverse mortgage scams Sweepstakes & lottery scams The grandparent scam The National Council of Aging also states that telemarketing and phone scams are the most common among senior citizens. Protecting Yourself Sometimes it can be hard to know if you are being scammed or taken advantage of. The North Carolina Department of Justice (NCDOJ), however, gives great tips on how consumers of any age can protect themselves.  Top Five Consumer Tips from the NCDOJ Say...
Local Elder Law, Trusts & Estates Attorney Recognized

Local Elder Law, Trusts & Estates Attorney Recognized

Lexington, NC – David E. Inabinett, Managing Member of Brinkley Walser Stoner, has been selected once again by his peers for inclusion in The Best Lawyers in America 2020 in the fields of Elder Law, and Trusts and Estates. “I have worked with elder law and estate planning clients for more than 20 years,” says Inabinett. “I still enjoy coming in each day and helping individuals and families as they take steps to protect themselves and their loved ones as they age. From meeting with young couples just starting out to helping families caring for an aging parent, spouse or special needs child, there is nothing more rewarding. I am pleased to have been recognized by my peers for my work in these fields.” Inabinett is a member of the National Academy of Elder Law Attorneys (NAELA™) and has received an AV™ Preeminent Peer Rating from Martindale-Hubbell®. He focuses his practice on Estate Planning, Elder Law, Education/School Law, Business Law, and Real Estate Law in Davidson, Guilford and surrounding counties. Since it was first published in 1983, Best Lawyers® has become universally regarded as the definitive guide to legal excellence. Best Lawyers lists are compiled based on an exhaustive peer-review evaluation. Almost 94,000 industry leading lawyers are eligible to vote (from around the world), and we have received over 11 million evaluations on the legal abilities of other lawyers based on their specific practice areas around the world. For the 2020 Edition of The Best Lawyers in America©, 8.3 million votes were analyzed, which resulted in more than 62,000 leading lawyers being included in the new edition. Lawyers are...
September Update

September Update

Should You Pay Your Traffic Ticket If you’ve never had the pleasure of being pulled over for a traffic ticket in North Carolina, then count yourself lucky. If you have, then you know all too well the trouble, stress, and aggravation that comes with a traffic ticket. READ MORE Run Friends Run Brinkley Walser Stoner is proud to be a sponsor of the 2019 “Run Friends Run” event. The 6th annual 5k race is put on by Davidson County Education Foundation. LEARN MORE Tips for Protecting Yourself Against Fraudsters Modern technology makes is easier than ever for criminals to create successful scams while hiding their identity from law enforcement. READ MORE Lexington Sportsmen’s Saturday Brinkley Walser Stoner is a proud sponsor of Sportsmen’s Saturday 2019. The annual event will be held at the Lexington Historic Southern Railway Freight Depot. Tickets are on sale now for the November 2 event. LEARN MORE 10 Common Mistakes People Make in Estate Planning Join attorney David Inabinett of Brinkley Walser Stoner to learn about common mistakes and misconceptions related to estate planning. Date: Wednesday, November 13, 2019 Time: 10:00 a.m – 11:00 a.m. LEARN...