The Wall Street Journal recently published an interesting article on the potential unintended consequences of home DNA tests. Some people may have their DNA tested to learn of their ethnic background and others may want to insight into their health. Others may be searching for a long lost relative and some discover a relative they never knew about. Discovering a new relative or other information that changes what you always thought was your family may be exciting for some, but daunting for others. There are sometimes unintended consequences beyond what one may have initially considered. Siblings who turn out to be half siblings. An uncle who is really a father. A child unknown to anyone who was the result of infidelity. Many consumers of these home tests do not fully understand that they may be opening Pandora’s Box.
The Wall Street Journal article told the story of a man whom through a home DNA test learned that the man who he thought was his father was not and his biological father was actually a sperm donor. He discovered a biological half-sister who was initially apprehensive about the new relationship but then eventually warmed up to her new sibling. The sister the man grew up with turned out to be a half-sister whose father was a different sperm donor. She became jealous of her brother’s new sibling.
DNA surprises are becoming more common as the home DNA tests are under $100.00 and more people utilize the service. Law enforcement and medical researchers have long used these services. The issue now has become when is it appropriate to reach out to a newly discovered relative? What if they don’t want to be contacted? What if your surprise is their nightmare? It’s difficult to underestimate the shock of someone learning that the family unit they grew up with may not tell their whole story. Some people may not want to disturb their status quo or may not want to disturb the status quo’s of those around them. Ancestry and 23andme both have internal emails for biological relatives to communicate and have other user settings to protect their identity and control their personal information. Nevertheless, some are never prepared for the surprise they may receive.
UNIQUE CHALLENGES FOR PROFESSIONAL ATHLETES
Many professional athletes earn a large salary but for a relatively short period of time. That means what many would consider an early, but long retirement. Investments and other financial planning is therefore different for professional athletes than most people. Many of these retired athletes require income to live, but also must make it last many years.
Athletes in the early or middle of their prime earning years also have unique challenges when attempting to negotiate a prenuptial agreement with their prospective spouse. See http://pecoslawgroup.com/unique-challenges-preparing-prenuptial-agreement-professional-nhl-players/.
Automobile accidents can happen within a split second, but the effects may last a lifetime. It is recommended that whether you are the victim of a vehicle crash or a slip and fall, you should get to a safe location and photograph, video, etc., the scene or property damage as soon as you are able. The next thing most people do is file an insurance claim with either their insurance company, or the at fault driver’s company, or both. Do not speak with the insurance company without legal representation, even if it is your own company. Insurance companies do not have your best interests in mind, it is their bottom line that is on their mind. At VEA, we ensure that you receive the treatment necessary to heal, along with a legal team who will fight for you when dealing with the insurance companies.
WEALTHY PEOPLE ABADONING HIGH TAX STATES AND MOVING TO STATES LIKE NEVADA
The Wall Street Journal recently published an article described how many wealthy Americans are moving from high taxed states like New York to states like Florida, which have no state income tax. For years Nevada has benefitted from Californians abandoning the high tax structure to Nevada, which has not state income tax and other benefits as well.
For example, a New York couple earning five million dollars filing a joint federal income tax return save almost $400,000.00 by moving to a state that does not have a state income tax like Florida or Nevada. The federal Tax Cuts and Jobs Act of 2017 has also played a factor by limiting the deduction of state and local taxes and mortgage interest.
Nevada, however, has benefits even over other states that have no state income tax. The median home price in Nevada is significantly lower than most major counties in Florida. Further, homeowner’s and other liability insurance rates are generally lower in Nevada than states like Florida, where hurricane and flood insurance can be a significant expense. The Wall Street Journal article also noted that when individuals move and buy a home in a new state for tax reasons, they also often move their business, which also enjoy multiple benefits.
Kirby Wells, Esq., Experience Pecos Law Group Litigator
Kirby Wells is of counsel attorney with Pecos Law Group and has been practicing law in Nevada since 1973. Mr. Wells received his Bachelor of Science degree from Nebraska Wesleyan University in 1968 and his Juris Doctorate from the University of Colorado School of Law in 1972. Mr. Wells worked primarily as an insurance defense lawyer from 1973 to 1976 with the law firm of Beckley, Delanoy, Jemison and Reid. He then worked primarily as a civil litigator, which included work for clients in the gaming industry, as a partner with Goodman, Oshins, Brown and Singer until 1983. Since then Mr. Wells has been a senior partner in several prominent law firms and has practiced in the areas of personal injury, insurance defense and family law. As counsel for a local taxicab company for more than 30 years Mr. Wells conducted numerous jury trials. In 2014, Mr. Wells helped secure a 17.5 million recovery on a double wrongful death case.
Mr. Wells’ legal skills and professional reputation are respected throughout the state. Mr. Wells has been an AV rated attorney with Martindale Hubbell for more than 30 years. Mr. Wells is a member of the State Bar of Nevada and is admitted to practice in all Nevada courts and in the Federal Court District of Nevada and Ninth Circuit Court of Appeals.