Taking a Break With Elder Humor
An elder law attorney in Dallas, Texas, Michael Cohen, broadcasts on his web site, www.dallaselderlawyer.com, a feature called “Senior Humor.” Considering the seriousness of the world we live today, it is a welcome relief. Some years ago I wrote about Mike in the Daily Local News and, shortly after the column was published, our phone […]
Continue readingPennsylvania Case Decides Joint Account Trumps the Will
While driving down Route 1 in Pensylvania a few weeks ago with the radio blaring, I heard a new commercial for a software program I recognized, Legal Zoom at legalzoom.com. The program is supposed to replace lawyers in most cases and give anyone the ability to write his or her own Will. It is an […]
Continue readingWith the CLASS Act Did Long Term Insurers Miss An Opportunity
With all of the debate over health care reform, one provision that passed regarding seniors and payment for long term care at home failed to attract much attention. That will likely change and the Community Living Assistance Service and Supports Act, referred to in short as the CLASS Act, presents some interesting questions. I would […]
Continue readingNew hybrid insurances may help with long-term care
Solutions for long-term care funding have generally been limited. Financial planners might recommend long-term insurance. In some cases, reverse mortgages might be used to fund at-home care. Still, the products come with a downside. One of the primary issues we have seen is that, by the time seniors and their families come to our office, […]
Continue readingHow to tell if you are ready for a Roth IRA conversion
Retirement funds cause planners to rack their brains and run complicated calculations probably more frequently than any other assets. The tax consequences of decisions made by the funds’ owners can affect them and their descendants, and there are unknowns. There is no way to know for certain, for example, what income tax rates will be […]
Continue readingPennsylvania’s 2010-11 budget brings a sales taxing issue
Every year beginning about this time or maybe a bit earlier, Pennsylvanians get upfront seats to watch the drama of our annual budget unfold. This year is no different in that respect and Gov. Rendell presented his proposed 2010-2011 budget to the General Assembly on Feb. 9. There are some differences in 2010, however. This […]
Continue readingAssessing legal challenges in the aftermath of reform
Considering the heated vote on health care reform this month in Washington, it is not surprising that the ink was barely dry on President Obama’s signatures when the Patient Protection and Affordable Care Act, passed on March 21, received legal and constitutional challenges. Two actions led the way. The first, brought in Pensacola, Fla., by […]
Continue readingA primer on the new health care environment
Sunday evening I switched the TV to CNN and watched a few minutes of procedural discussions from the U.S. House of Representatives on the most recent health care reform bill. It was obvious this would take some time. Monday morning I fired up the computer and noted that the bill had passed along with a […]
Continue readingWills are not the only way to transfer assets after death
Even experienced financial advisers might suggest that listeners make certain that their assets are distributed as they want at their death by preparing wills without discussing titling of assets. I heard this myself a few months ago when attending a “Financial Peace University” taped session where noted speaker Dave Ramsey addressed a group of dedicated […]
Continue readingElder Legal Practice Is Shaped by Personal Experience
Fourteen years ago my family needed legal help and we did not know it. What makes the statement more surprising is that I had been practicing law since 1977 and did not see it. Having worked both for government dealing with social service agencies and in private practice, in 1996, I was not yet an […]
Continue readingUse real estate creatively when paying for care
When seniors need help for care, they may be cash poor but living in a home with substantial equity. One common immediate reaction is to want to transfer the house to the children and then immediately apply for Medicaid either at home or following a move to a nursing home. That direct action, unless there […]
Continue readingAdult children need to know what they’re signing
When crisis strikes and a parent is abruptly taken to the hospital with a heart attack, stroke or fall, adult children are often at a loss as to what comes next. Usually the next question is whether their parent is well enough to come home after hospitalization or should they receive rehabilitative care under Medicare […]
Continue readingTen Facts Seniors Must Know On Leaving the Hospital
Hospitalization brings enough trauma for seniors and their families without considering complicated Medicare and insurance rules. This said, it is critical nonetheless to know some of the basics. Here are ten facts that seniors and their families must know before leaving the hospital. You can appeal. This is not to suggest that you should appeal […]
Continue readingGovernment Revenue Collection Policies That Make No Sense
People sometimes ask me where I get ideas for columns. I tell them the ideas come walking in the door. This does not mean clients necessarily although clients contribute their own tales. The frustration of dealing daily with some truly nonsensical rules provides almost endless fodder for stories. I strongly recommend writing as a form […]
Continue readingWith Long Term Care, Free Advice Is Expensive
When I first began working in elder law about 14 years ago, information on Medicaid for seniors facing nursing home and long term care costs was difficult to obtain. Gifting rules left a wide margin. The rules were fairly complicated but consistent. Much of this has changed. Fourteen years later many people know someone who […]
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