Proposed Power of Attorney Act Might Change PA Law
When belonging to groups that take positions on legislation it sometimes happens that you belong to groups that take opposing views. As it turns out, this has happened to me more than once and, recently, a proposed Pennsylvania bill is the subject of contention. Senate Bill 1358 that would modify Pennsylvania’s power of attorney laws […]
Continue readingWhat Medicaid Applicants and Families Need to Know About Selling the House
Determining what to do with a house when applying for or when on Medicaid is like navigating your way through a minefield. Here are some considerations regarding sale or transfer of the family residence. 1. Know Whether the Medicaid “Spend Down” Rules Apply. For the most part, the family home is considered an “unavailable asset” […]
Continue readingDoes Homeownership Make Sense Today
The September 6, 2010 edition of Time magazine features a cover article “Rethinking Homeownership” with the subtitle “Why owning a home may no longer make economic sense.” With such a controversial title it could be expected that the article was intended to pique the reader’s interest since homeownership, as the author concedes, has been the […]
Continue readingColumnist Grateful for Recognition
The first notice I received that anything had happened was when I opened an e-mail addressed to me at the office asking what plaque style I wanted to commemorate the honor of the occasion. This prompted the obvious question what honor? After reading further and then a brief trip to Chester County Book and Music […]
Continue readingReasons Why Seniors Might Have to Tell Children About Their Finances
In America where we value our personal independence about as much as our desire to breathe, it can come as a great shock and surprise that parents may have to confide in at least one, if not more, of their adult children regarding their finances. If they do not do so or if they have […]
Continue readingDisney Has Changed With the Times”
Columnists do not go on vacation. They just travel, power up their laptops, and write from hotel rooms. At least that is what happened to me on the brief vacation to Disneyworld I have been taking with my daughter in Florida. My last trip to Disneyworld was with my own mother. It was maybe twenty […]
Continue readingRemembering Elinor Taylor
When Elinor Taylor passed away last week in Stuart, Florida at the age of 89, I recalled her with some sadness and nostalgia but also remembered with a smile the images of what this feisty lady did for politics on the West Chester and Pennsylvania scene. What she did for women and for senior women […]
Continue readingUnemployed Should Consider Tax Breaks
Losing a job causes enough trauma. When job loss is coupled with the urgent need to cash in 401(k)’s or appreciated assets, there could be a tax bite also. Debt forgiveness may have tax consequences, too, and could be counted as income. In fact, tax planning can become as much a part of conserving resources […]
Continue readingWhy Estate Tax Planning Makes Sense Even In Year Without the Tax
Now that George Steinbrenner, legendary owner of the New York Yankees, the fourth known American billionaire has passed on this year, a bill has been introduced in Congress called the Responsible Estate Tax Act which would, among other things, retroactively apply the federal estate tax to estates of his size where the decedent died this […]
Continue readingFamily Tragedy Could Result in Student Loan Law Change
Sometimes tragedy brings to the surface issues that few have ever considered. This is the origin of a law wending its way through the U.S. House of Representatives and, in the tradition of naming laws after the parties affected, is titled the Christopher Bryski Student Loan Protection Act. Christopher’s Law, H.R. 5458, would address the […]
Continue readingWhat Happens With a CCRC When You Run Out of Money
When clients ask me to review an agreement to enter a Continuing Care Retirement Community (CCRC), the most frequently asked question is “what happens if I run out of money?” The issue may be presented in another way such as “what are the major risks?” or “Will I have to move if I run out […]
Continue readingWhen the Power Goes Out
When the storm struck Chester County last Thursday, June 24, it was difficult to tell the impact it would inflict. Only later did the vulnerability hit home. We may be closer to the British Petroleum oil spill disaster on the Gulf Coast than we know. On my drive to East Whiteland,unusually dark clouds amassed overhead. […]
Continue readingStrategies in Gifting to Your Grandchildren
As an elder law attorney, believe it or not, I spend a fair amount of time advising older clients of the risks of gifting to their children and grandchildren. This is because, considering first things first, they need to assure that they have enough for their own retirement and long term care before considering gifting. […]
Continue readingPennsylvania Tax Amnesty Opportunity to Save Is Expiring
Fourteen years ago when the Daily Local News published my first weekly column in January, 1996, my subject was Pennsylvania tax amnesty. As with many government ideas to generate cash, tax amnesty in Pennsylvania has returned once again. Considering the time delay between the 1996 amnesty and today, taxpayers who are affected may be well […]
Continue readingReal Estate Auctions – Hot Way to Sell or Fire Sale
My friend, L. Robert “Bob” Frame, Esq., has more energy than any three men I know which is a good thing since he is a licensed Associate Real Estate Broker, an active Pennsylvania attorney, and a licensed auctioneer coming from the background of an established family auction business. He hangs his real estate hat at […]
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