Category Archives for 2013
Advice on Loans From Parents and Grandparents
If you have saved over the years and even if you have only a few thousand in the bank above your living expenses, you might at some point be approached by an adult child or college aged grandchild for a loan or, what sometimes might be even more dangerous, cosigning on a loan or credit […]
Continue readingBusiness Succession Planning Reaches Prime Time
Did you check my blog because you have queries about business succession? Well, business succession planning issues have finally reached prime time television attention with a new comedy this season on CBS, “The Crazy Ones,” starring well-known Robin Williams and Sarah Michelle Gellar as a father and daughter team holding a long-time advertising agency, Roberts […]
Continue readingKeep Best of Old and New In Technology and Life
On returning from probating a new estate at the Lancaster County Courthouse with a client, I made a point last week to stop by an old favorite location of mine in Gap, Pennsylvania in the midst of “Amish country”. My special stop in Gap was to determine whether an old custom of mine was still […]
Continue readingLegislation for Disabled Children Of Veterans Needs Passage
From time to time I hear people exclaiming that an idea is a “no-brainer” meaning, of course, that you do not have to think about it, it is so obviously true. I sometimes find myself on the other side even with some “no-brainers” but here is one that I think a listener would be hard […]
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 reading“Empty Mansions” Is a Case Study for Estate Planners
Suppose you were an attorney or an accountant and your client with net worth of over $300,000,000 decided she did not feel like writing a Will. Worse, she has no children, has had minimal or no contact with multiple distant relatives who would inherit without a Will, and has no tax planning by way of […]
Continue readingGiving Thanks and Getting Help for Thanksgiving
The turkey is in the oven and you are ready to join the madness of Black Friday shopping or maybe you decided to avoid the rush and try to relax at home. The operative expression is “try” to relax if you are a caregiver for an elderly or disabled family member. You might even be […]
Continue readingNavigating the Veterans Benefit Maze
Yesterday, we celebrated Veterans Day commemorating the service of 21.2 million men and women throughout the United States who served in our armed forces. Of those, some are wounded from recent wars in Afghanistan and Iraq, some are still suffering from the long term effects of prior conflicts in Korea, Vietnam and World War II. […]
Continue readingEstate Planning and Estate Administration Real Life Stories
Estate planning and estate administration could seem disconnected with real life until you realize that some of the same issues that affect everyone also affect people who write Wills and Trusts and average people who plan their taxes and people who are entrusted with carrying out the believed wishes of the deceased even when these […]
Continue readingList It or Love It For Elder Homeowners
One of my guilty pleasures known to few when I have time to kick back at home and relax is watching Home and Garden Television, known everywhere as HGTV on a cable network. Then, of all my favorite HGTV programs, the most intriguing in the past several months has been “Love It Or List It.” […]
Continue readingHow to Navigate Medicare Open Enrollment
The solicitations sometimes come with glossy color photographs of vigorous older men carrying surfboards and sporting wetsuits or you might receive a postcard inviting you to a meal at a restaurant or maybe just an informational meeting. It is time as it is every year in the Fall for Medicare Open Enrollment, the period that […]
Continue readingCompany Uses Money Management To Evaluate Long Term Care
When seniors look toward moving to a retirement community, the information can be overwhelming. One of the most significant problems, though, may be sorting through the promotional material to arrive at a decision whether it is right for you. One of my friends, George Lock, whom I met through a networking organization that connects professionals […]
Continue readingAdvice For the Unexpected Executor
Suppose you were appointed the Executor of Aunt Mary’s estate. She lived alone, shared no financial information, enjoyed your visits and regarded you as her favorite nephew. On her passing you learn now that she honored you by naming you Executor in her Will. At this point you do not know where anything is other […]
Continue readingThings You Need To Know Before Signing Up For Medicare
If you are approaching age 65 and are confused with your choices in signing up for Medicare, you are not alone. Here is some basic information you need to know in advance. The Medicare choices you initially make might lock you in later. One rare piece of information is that, if on turning age 65, […]
Continue readingMedicaid Can Continue With a Special Needs Trust
Having described in last week’s column the limitations of trusts when dealing with Medicaid for older Americans facing nursing home expense, it seemed only fair to present the opposite position regarding younger Medicaid and SSI recipients. Special needs trusts, also referred to as supplemental needs trusts, may allow those under age 65 to continue to […]
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