Law Offices of Gary L. Fales & Associates

Wisdom administered with Integrity

I like this as a motto.  Wisdom is the correct application of intelligence.  Intelligence implies the truth.  If we learn the truth via science and study and experimentation then we can apply it and not adulterate it by having integrity.

Fales and Fales Financial, LLC, our sister company

Legal and estate planning services need to be consolidated.  Once the the firm has set up the structures to maximize the benefits of using trusts and LLC's and have placed them in their proper relationships, the task at hand is to place assets into these entities properly.

As wealth is developed through hard work and proper structuring the issues of asset allocation and management is a natural and important extension.

Our team consists of Steven C. Fales, MD (our financial doctor), Gary L. Fales, and a carefully chosen team of consultants in the areas of Wealth Management.

Our philosophy is to use firmly grounded principles that solid citizens can use to build lasting wealth.

As you can see, our work together will improve your estate and financial planning in every important area.

Huge Taxes on IRA's and Retirement Plans

The growth of our wealth in retirement plans usually occurs without taxation.  But when we take it out, it is taxed as regular income.  And we have to take it out.  The rules specify that by age 70 1/2 we have to take out quite a lot each year whether we need it our not.  These are called RMD's or Required Minimum Distributions.  Why can't we just leave it in the IRA?  Because the IRS has rules and penalties.

If we do not take it out, the penalty is 1/2 of what the RMD was supposed to be. That is a heavy penalty.

What if we die before our IRA is used up?  Then our heirs have to pay very heavy taxes on the remainder.  Up to 80% can go to taxes.  We have to do something.

The easiest thing to do is to  buy insurance to pay the taxes on it in a special way.

We help our clients do this, and they love the results.  It is a huge difference.  Call us to discuss how this can be done.

Quarterly Workshop: You may have missed it ... but it's not too late

A week ago we held one of our Membership-only Quarterly Workshops at the Suncoast Casino, titled "Protecting the Family Wealth from the Nursing Home." Managing Attorney Gary Fales and Elder Law Attorney Tiffany Ballenger spoke on the government programs that few know about and how to qualify for them, such as Medicaid and V A Benefits. They also stressed the importance of Long-Term Care Insurance. If you were able to attend ... I'm so glad! If you weren't able to attend ... you're not too late. Let me explain.

Backtrack to two weeks ago when I was making calls to our Membership Plan Clients to invite them to this seminar. I heard a lot of the same excuses as to why they would not be attending -- "I don't need to worry about the nursing home ... I'm not old enough ... I don't think I'll qualify." I was slightly disappointed that I received these responses, even after explaining what wealth of information would be shared at the workshop.

To the first excuse, I say that, while you may not be gearing up to go to a nursing home, what about a parent or aunt/uncle or someone you're taking care of? Surely you know of someone who could benefit from this information. While the workshop has passed, we are making a DVD of the presentation and will be mailing it out to our Membership Plan Clients. If you would like to request a DVD, and are not a Membership Plan Client, please call us at (702) 804-0024 .

Now to the second excuse, if you don't think you're old enough to need to worry about these issues, think again. The time to get Long-Term Care Insurance is now, before you are struck with an illness or disability. Your premiums for LTC Insurance will be much lower if you start it up while you are healthy. And you can also start applying for Medicaid, even though you may not need it right now. You want to start the clock on your Medicaid application so you can qualify for it when you actually need it. For more information about Medicaid or Long-Term Care Insurance, call us for a free consultation with our Elder Law Attorney, Tiffany Ballenger, at (702) 804-0024.

Finally, if you don't think you'll qualify, the truth is that you'll never know unless you try to find out. If you took one hour to meet with our Elder Law Attorney, Tiffany Ballenger, and she helped you qualify for a program, it would be worth the one-hour meeting to save thousands of dollars, right? So again, if you would like to discuss your situation and options with our Elder Law Attorney, Tiffany Ballenger, please contact us at (702) 804-0024. -- Stephanie Valdez

Blog Novice

I joined the Law Offices of Gary L. Fales & Associates in February of 2008 as a Marketing Coordinator.  Shortly thereafter, was promoted to Client Concierge.  I've been told that my compassion, accuracy and attention to detail make me a great asset to the firm in serving our clients.

I was born and raised in Arvada, CO, and moved to Las Vegas in 2007.   My husband of 18 years and I have three children.

I enjoy spending time with my family, hiking, playing volleyball, dining out, working with the youth in my church, cooking, and going to the movies.  My hobbies include sewing decorative pillows and traveling on cruise ships.  I proudly make the best red velvet cake ever. Ask my coworkers.     -- Christine Stuehler

The equation for being prepared

Many of you may know that the Boy Scouts motto is "Be Prepared."  Our offices handle preparation every day in many different ways.  We prepare for our appointments, we prepare various documents for our clients, we prepare for events and seminars, etc.  We prepare so our clients are prepared.

You know how in movies when a war ensues between countries, the king or general shouts out, "Prepare for battle!"  The king/general and the army already have a plan for times like this, so the drawbridge is brought up, the cannons are rolled out, the gates are reinforced, and the soldiers stand ready for attack.  From listening to our seminars, I've learned that there are a lot of forces out there trying to fight, attack, and invade people's assets.  The battle of lawsuits, death (probate), disability (guardianship court), nursing homes and divorce is ongoing.  I've heard numerous stories about how people who weren't prepared, or weren't prepared enough, fell victim to these invaders. What sets our clients apart is that they are prepared for these invaders.  They are ready for battle if one should come (likely, it will).

I used to work in TV news; I saw too many sudden tragedies happen to real people -- a lawsuit tore down an individual or a catastrophe struck an innocent family.  If we all knew what hardships were coming our way, we wouldn't think twice about preparing for our future battles.  Unfortunately, we don't know what struggles lie ahead of us -- which makes estate planning and asset protection even more imperative!

Back to the battle analogy, it makes sense that   planning + protection = being prepared .  I'm relieved to say that soon I will be taking care of my own preparedness.  I'm looking forward to the same peace of mind that our clients walk out of our offices with.     -- Stephanie Valdez

The Power of the Word

Ever since I obtained my first family trust and my first LLC I have been so impressed with the power of "the word".  I learned something about the US Constitution, English Common Law, and the ancient document called the Magna Carta.  Google "Magna Carta" and read about it in Wikipedia.

How can a few words on a piece of paper create a new entity?  By the common consent of generations of people and the huge social construct called the "the law".

The law is amazing, and it runs our world. It gives us power and freedom and social order.  To not be aware of and take advantage of the workings of law is to be impotent and vulnerable.

Our attorneys are extremely expert in the part of the law dealing with family trusts, asset protection trusts, and estate planning.  With their guidance and expertise they can create the words necessary to be in a powerful position.

But it all starts with listening to what the clients need and really caring about the clients and their families.  Protect your passions and your family.

Steven C. Fales, MD

Doctor Advisor and Medical Consultant

Through the Eyes of the Newcomer

Hello! I have yet to introduce myself to the online community so I’m excited to be doing so. My name is Breanna Trussler and I am a Marketing Assistant here at the Law Offices of Gary Fales. I assist with our many marketing projects as well as scheduling and any other miscellaneous task that I can help anyone at the firm with. If you have an appointment or plan on making one I will most likely speak with you at some point. I work most often with Stephanie and Jeff (you could interpret often as daily). I work with everyone else too but then for a more specific task or project.

I am still fairly new to the office and so I feel I have some different perspectives. One of the first things I noticed and still continue to notice is how helpful everyone is. People here are almost always smiling and if you have a question there is always someone more than willing to answer. Among these are some of the most intelligent, hard working, welcoming and pleasant people I have ever met. As the weeks go by, I find I’m learning more and more about the work that goes into estate planning and how necessary it is. People ask me about work and I’ve never been more excited to talk about it. I even find myself looking for reasons to share with my friends and family what our team can do for families. I know now that the day will come when I need asset protection and an estate plan. When that day comes I will know where to turn.

I can’t wait to share more of what I will be learning and to get even better acquainted with my co-workers, our current clients, and those that will become clients.

Until the next time I share…Have a wonderful morning, afternoon or night! J

~ Bree

The Deeds Worth Doing

Hello, my name is Elise Barth. I am a legal assistant here at the firm. I, along with Jeff, am very excited about the work we do here. I was astonished to find out how necessary a trust really is. I cannot wait until I have some assets of my own to protect and pass on to my loved ones.

Here at our office I handle the deeds, or "signed instruments containing some legal transfer, bargain, or contract" (m-w.com). If you have property that needs to be reconveyed, you will most likely speak or deal with me. I never dreamed of the intricacies involved in transferring a home or parcel. The paperwork is complex, but easy once understood. I don't think people realize what it takes and all the necessary particulars needed to get a deed recorded. I am grateful for the opportunity to have been taught how to do it correctly and for the learning experience it was to try and fail, and then try and succeed. As I have succeeded, I realize how truly important it is to get a deed done, and have it done right.

The longer I work here the more things I pick up on. It is a pleasant feeling to know I am helping in the protection of people and to be in such a wholesome business. There is no scamming here, we won't pressure anyone to get anything we don't think they will need. We do our best to offer service that beats the rest. I hope that anyone who comes in contact with our office can see that.

Have a great day,
Elise Barth.

Word on Workshops

Our office puts on several estate planning and asset protection seminars, and four large workshops per year. Last week we had three seminars within 24 hours, and while it was challenging, it was a positive learning experience and the seminars were a great success. I really enjoy listening to these seminars -- I learn something new every time! We present a wealth of information to our attendees, and each time I listen, I pick up on something that I didn't catch last time. So if you have been to one of our seminars, I encourage you to attend another one, as a refresher course, so you can stay sharp on the best ways to protect your assets and plan your estate.

We recently had our Real Estate Quarterly Workshop at Suncoast Casino & Hotel with special guest Richard Lee. We filled three ballrooms and had to squeeze in latecomers by adding another back row. I am very pleased with the turnout we had, and I really enjoyed the material Richard Lee presented.

We have another Quarterly Workshop coming up in October, which will focus on Medicaid and how to save the family wealth from the nursing home. I'm really looking forward to learning more about how Medicaid can benefit my loved ones and what I should know so I can plan ahead for the future. I encourage you to get in touch with our office to learn more about our seminars -- especially since they're FREE! Most of our seminars last around an hour and a half, and they're packed with valuable planning strategies. You ought to check one out -- I'll bet you will learn something you didn't know : )     -- Stephanie Valdez