Category Archives for 2010
Columnist 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 […]
Continue readingTaking 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 […]
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