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Question of the Day on ElderCareMatters.com: "I am an Elder Care Professional with 15 years experience in helping families with their elder care matters. Should I be listed on ElderCareMatters.com?"

Answer:  If you are a professional who helps families plan for or deal with ANY of their elder care matters, then you owe it to yourself to be listed on America's #1 online source for "Elder Care Experts"….

ElderCareMatters.com

ElderCareMatters.com is where you will find more than 2,000 competent, caring elder care experts located across America, including:

  • Elder Law Attorneys
  • Estate Planning Advisors
  • Financial Planners
  • Investment Advisors
  • Geriatric Care Managers
  • Insurance Professionals
  • Life Care Planners
  • Professional Organizers
  • Reverse Mortgage Lenders
  • Senior Move Managers
  • Senior Real Estate Professionals
  •  Tax Advisors
  • Aging in Place Professionals
  • Daily Money Managers
  • And other elder care experts with long and successful careers working with seniors and their families

This is also where you will find some of America's best:

  • Assisted Living Communities
  • Alzheimer's / Memory Care Communities
  • Continuing Care Retirement Communities
  • Home Care Agencies

Together, we provide families across America with:

  • Unparalleled professional expertise
  • Up-to-date elder care information & answers to your elder care questions
  • Competent, caring assistance with a wide range of elder care services

So if you are a competent, caring elder care professional who helps families with ANY of their elder care matters, then request today an Application for Membership in the national ElderCare Matters Alliance and get listed on ElderCareMatters.com - America's #1 source for "Elder Care Experts" plus information and answers about a wide range of elder care matters.

Phillip G. Sanders, MBA, MSHA, CPA
Founder & CEO
ElderCare Matters, LLC
ElderCareMatters.com

 

 

 

Question of the Day on ElderCareMatters.com: "Would you please provide me with a list of all the 87 different elder care services that the members of the national ElderCare Matters Alliance provide on ElderCareMatters.com?"

Answer:  It is my pleasure to provide you with the following list of the 87 different elder care services that are currently provided by the members of the national ElderCare Matters Alliance on ElderCareMatters.com:

  1. Accounting Services
  2. Adult Day Care
  3. Advance Medical Directives
  4. Aging in Place Services
  5. Alzheimer's / Memory Care Communities
  6. Annuities
  7. Arbitration
  8. Asset Protection Planning
  9. Assisted Living Communities
  10. Assisted Living Referral Services
  11. Bankruptcy
  12. Bill Paying
  13. Budgeting
  14. Caregiving Education
  15. Companion Care
  16. Conservatorship
  17. Consumer Law
  18. Continuing Care Retirement Communities
  19. Cremation Services
  20. Crisis Intervention
  21. Daily Money Management
  22. Dementia Care
  23. Disability Income Insurance
  24. Disability Planning
  25. Elder Abuse Litigation Services
  26. Elder Law
  27. ElderCare Planning
  28. Estate Administration
  29. Estate Liquidation
  30. Estate Planning
  31. Family Law
  32. Financial Planning
  33. Funeral Services
  34. Geriatric Care Management
  35. Guardianship
  36. Health Insurance
  37. Hoarding Clean Up and Coaching Services
  38. Home Care
  39. Home Downsizing Services
  40. Home Health Care
  41. Home Modifications
  42. Hospice Care
  43. Independent Living Communities
  44. Investment Services
  45. Life Care Planning
  46. Life Insurance
  47. Litigation
  48. Long Term Care Insurance
  49. Long Term Care Planning
  50. Medicaid Planning
  51. Medical Services
  52. Medical Alert Systems
  53. Medical Claims Processing
  54. Medical Equipment & Supplies
  55. Medical Malpractice Litigation
  56. Medicare Consulting
  57. Medicare Supplemental Insurance
  58. Medication Management Services
  59. Moving Services
  60. Nursing Homes
  61. Personal Finance
  62. Powers of Attorney
  63. Probate
  64. Professional Organizing
  65. Public / Non-Profit Resources
  66. Real Estate Services
  67. Rehabilitation Services
  68. Residential Psychiatric Care
  69. Respite Care
  70. Retirement Planning
  71. Reverse Mortgages
  72. Securities Arbitration & Litigation Services
  73. Senior Housing
  74. Senior Move Management
  75. Senior Move Planning
  76. Senior Relocation Services
  77. Social Security Disability Services
  78. Special Needs Planning
  79. Tax Law
  80. Tax Planning
  81. Tax Preparation
  82. Transportation Services
  83. Trustee / Fiduciary Services
  84. Trusts
  85. VA Benefits
  86. Wills
  87. Wound Care

The goal of ElderCareMatters.com is to provide families across America with the help they need to plan for and deal with their elder care matters.  Let us know if there are other elder care services that you would like to have us list on ElderCareMatters.com – America's #1 source for Elder Care Experts plus information & answers about a wide range of elder care matters.

Phillip G. Sanders, MBA, MSHA, CPA
Founder & CEO, ElderCare Matters, LLC
ElderCareMatters.com
1-877-379-4500

Question of the Day on ElderCareMatters.com: "I noticed this morning that ElderCareMatters.com now has a total of 72 different elder care / senior care services that are included on this wonderful website. Can you tell me how these services are selected, and are there a maximum # of services that will be included on ElderCareMatters.com?"

Answer:  ElderCareMatters.com is an elder care resource to help families across America plan for and deal with their elder care matters.  With this goal in mind, we will continue to add more elder care-related services to ElderCareMatters.com in order to make this online elder care resource invaluable for families looking for help in planning for and/or dealing with their elder care matters.

Below are the 72 different elder care services currently listed on ElderCareMatters.com (with more services soon to be added): 

  1. Adult Day Care
  2. Advance Medical Directives
  3. Aging in Place Services
  4. Alzheimer's / Memory Care Communities
  5. Annuities
  6. Arbitration
  7. Asset Protection Planning
  8. Assisted Living Communities
  9. Assisted Living Referral Services
  10. Bankruptcy
  11. Caregiving Education
  12. Consumer Law
  13. Continuing Care Retirement Communities
  14. Crisis Intervention
  15. Daily Money Management / Bill Paying
  16. Dementia Care
  17. Disability Income Insurance
  18. Elder Abuse Litigation Services
  19. Elder Law
  20. ElderCare Planning / Long-Term Care Planning
  21. Estate Administration
  22. Estate Liquidation
  23. Estate Planning
  24. Financial Planning
  25. Funeral Services
  26. Geriatric Care Management
  27. Guardianship / Conservatorship
  28. Health Insurance
  29. Hoarding Clean Up and Coaching Services
  30. Home Care
  31. Home Downsizing Services
  32. Home Health Care
  33. Home Modifications
  34. Hospice Care
  35. Independent Living Communities
  36. Investment Services
  37. Life Care Planning
  38. Life Insurance
  39. Litigation
  40. Long-Term Care Insurance
  41. Medicaid / Disability Planning
  42. Medical / Healthcare
  43. Medical Alert Systems
  44. Medical Claims Processing
  45. Medical Equipment & Supplies
  46. Medicare Consulting
  47. Medicare Supplemental Insurance
  48. Medication Management Services
  49. Moving / Relocation Services
  50. Personal Finance / Accounting / Tax Preparation
  51. Powers of Attorney
  52. Probate
  53. Professional Organizing
  54. Public / Non-Profit Resources
  55. Real Estate Services
  56. Rehabilitation Services
  57. Residential Psychiatric Care
  58. Respite Care
  59. Retirement Planning
  60. Reverse Mortgages
  61. Securities Arbitration & Litigation Services
  62. Senior Move Management
  63. Senior Move Planning
  64. Social Security Disability Services
  65. Special Needs Planning
  66. Tax Law
  67. Tax Planning
  68. Transportation Services
  69. Trustee / Fiduciary Services
  70. Trusts
  71. VA Benefits
  72. Wills

If you need help with your family's elder care matters, you can count on ElderCareMatters.com to provide you with the experts, information & answers you need to plan for and deal with your elder care matters.

Phillip G. Sanders, MBA, MSHA, CPA
Founder & CEO of ElderCareMatters.com
1-877-379-4500

This Week's Featured Elder Care Expert on ElderCareMatters.com is Dennis B. Sullivan, Esq., CPA, LLM

Dennis B. Sullivan, Esq., CPA, LLM
888 Worcester Street, Suite 260
Wellesley, Massachusetts  02482
781-237-2815
www.EstatePlanandAssetProtection.com
Member of the national ElderCare Matters Alliance, Massachusetts chapter

This week's Featured Elder Care Expert is Dennis B. Sullivan, Esq., CPA, LLM, Member of the Massachusetts chapter of the national ElderCare Matters Alliance (a network of  1,500+ elder care experts across America). 

Mr. Sullivan has over 25 years of experience helping individuals and families with tax, estate, and asset protection planning. 

Every day this week (M-F), Attorney Sullivan will answer one of your questions about his areas of expertise (Tax, Estate Planning, Asset Protection Planning), and this selected question along with Mr. Sullivan's answer will be posted on the Featured Elder Care Question of the Day section of ElderCareMatters.com.

So if you would like to ask Mr. Sullivan a question about your elder care matter, just send a short email (a few sentences only please) to: questions@ElderCareMatters. com.  

And remember to bookmark ElderCareMatters.com and check back often to see if your question is our Featured Elder Care Question of the Day.

Question & Answer of the Day on ElderCareMatters.com for Thursday, July 7, 2011

Question:  I recently relocated my elderly mom from New York to Virginia. She is living in an assisted living facility by me. She still has her home in NY where two apartment rents help to pay for her assisted living room rent, prescriptions, incontinence care, etc. The rest of her care fees come out of her savings. Is her assisted living rent deductible on her tax return?

Answer:  Although I am not a CPA, my understanding is that the IRS may allow her to deduct the cost of assisted living rent as a medical expense if your mother needs assistance due to a chronic illness.  IRS publication 502 defines chronically ill as being unable to perform 2 or more activities of daily living without substantial assistance or if the person needs substantial supervision due to a cognitive impairment.  From what you described, it appears as though she would be able to deduct her assisted living costs as a medical expense. However, her total medical expenses must exceed 7.5% of her adjusted gross income in order to be deductable. 

I would recommend that you keep all receipts from the assisted living community, as well as receipts for all other medical expenses that your mother incurs during the year.  Then talk with your tax preparer to make sure that you take advantage of all the available deductions.

To locate competent elder care professionals who are located near You and can help you with this type of elder care matter, go to: www.ElderCareMatters.com - A FREE online source to find elder care experts plus information & answers about a wide range of elder care matters.

Angela N. Manz, Attorney at Law
The Law Firm of Angela N. Manz
Virginia Beach, VA  23452
757-271-6275
Member of the ElderCare Matters Alliance, Virginia chapter

www.ElderCareMatters.com – Experts, Information & Answers

At last, families across America have one resource they can tap into daily to relieve the stress of aging…

ElderCareMatters.com

 

ElderCareMatters.com, along with the 1,350+ members of the national ElderCare Matters Alliance, provides families with the elder care resources they need to plan for and deal with their issues of aging.  In fact, here is where you will locate, by state, some of America's top elder care professionals who provide a total of 68 different elder care services that will help you plan for and deal with your family's issues of aging, including:

  1. Advance Medical Directives
  2. Aging In Place Services
  3. Alzheimer's / Memory Care Communities
  4. Annuities 
  5. Arbitration 
  6. Asset Protection Planning
  7. Assisted Living Communities 
  8. Assisted Living Referral Services
  9. Bankruptcy
  10. Caregiving Education 
  11. Consumer Law
  12. Continuing Care Retirement Communiities
  13. Crisis Intervention
  14. Daily Money Management / Bill Paying
  15. Disability Income Insurance
  16. Elder Abuse Litigation Services
  17. Elder Law
  18. ElderCare Planning / Long-Term Care Planning
  19. Estate Administration
  20. Estate Liquidation
  21. Estate Planning
  22. Financial Planning
  23. Geriatric Care Management
  24. Guardianship / Conservatorship
  25. Health Insurance
  26. Hoarding Clean Up and Coaching Services
  27. Home Care
  28. Home Downsizing Services
  29. Home Health Care
  30. Home Modifications
  31. Hospice Care
  32. Independent Living Communities
  33. Investment Services
  34. Life Care Planning
  35. Life Insurance
  36. Litigation
  37. Long-Term Care Insurance
  38. Medicaid / Disability Planning
  39. Medical / Healthcare
  40. Medical Alert Systems
  41. Medical Claims Processing
  42. Medical Equipment & Supplies
  43. Medicare Consulting
  44. Medicare Supplemental Insurance
  45. Medication Therapy Management
  46. Moving / Relocation Services
  47. Personal Finance / Accounting / Tax Preparation
  48. Powers of Attorney
  49. Probate
  50. Public / Non-Profit Resources
  51. Real Estate Services
  52. Rehabilitation Services
  53. Residential Psychiatric Care
  54. Respite Care
  55. Retirement Planning
  56. Reverse Mortgages
  57. Securities Arbitration & Litigation Services
  58. Senior Move Management
  59. Senior Move Planning
  60. Social Security Disability Services
  61. Special Needs Planning
  62. Tax Law
  63. Tax Planning
  64. Transportation Services
  65. Trustee / Fiduciary Services
  66. Trusts
  67. VA Benefits
  68. Wills

 

If you and your family need help with your elder care matters, this is where you will find competent, caring elder care experts located near you who provide a total of 68 different services that will help you plan for and deal with your family's issues of aging.  Whether you are looking for:

  • an elder law attorney in Philadelphia
  • a geriatric care manager in South Florida
  • a long-term care insurance professional in Fort Worth,
  • a home care provider in Southern California, or
  • an assisted living community in Phoenix (as shown in the photo above)…

you can count on www.ElderCareMatters.com to help you find the Elder Care Experts and services that you will need in ALL 50 states (plus the District of Columbia).


 

Special Offer for ALL Elder Care Professionals:  The next 125 elder care professionals who apply for Lifetime Membership in the national ElderCare Matters Alliance will receive a 25% discount off the regular price of lifetime membership.

So if you are a competent, caring elder care professional – take advantage of this special 25% discount offer and pay only $337.50 for a "lifetime membership" (and there are no annual membership dues, ever!) in the national ElderCare Matters Alliance.   

To request a Membership Application, send an email to: info@ElderCareMatters.com.

Question of the Day: "When a trust is established and the assets in the trust generate income, how is this income taxed?"

Answer:  If the trust is a revocable (or living) trust, then the income that is generated is simply reported on the Settlor's individual income tax return during his life.  Upon the Settlor's death, the revocable trust becomes irrevocable and becomes a separate entity for tax purposes.  Once a trust is irrevocable, any income that is trapped in the trust (not distributed to a beneficiary) is generally reported on a fiduciary income tax return (Form 1041).  Generally, to the extent income is passed out to a beneficiary, that income is reported on the beneficiary's individual income tax return.  However, if the trust is a simple trust (meaning a beneficiary is required to receive all of the income of the trust under the terms of the document), then the income is reported on the beneficiary's income tax return.  There are other types of trusts (irrevocable trusts established during the life of a grantor/settlor, grantor trusts, etc.) which have various tax treatments.  In order to determine the proper tax treatment, the trust agreement must be reviewed.

NOTE:  The information provided above is not intended to be nor should be relied upon as legal advice.  Peck Bloom, LLC is located in the State of Illinois and the attorneys are only licensed to practice law in Illinois and Florida.  You should consult a qualified attorney licensed in your state regarding these matters.

To locate experts in your state who can help you with this elder care matter, go to: www.ElderCareMatters.com/statechapters.htm

Kerry R. Peck, Managing Partner
Peck Bloom, LLC
Chicago, Illinois  60603
1-877-845-1743

Member of the national ElderCare Matters Alliance, Illinois chapter

New Member Spotlight: Steven H. Peck, Esq.

Steven H. Peck, Attorney at Law
Law Offices of Steven H. Peck, Ltd.
300 Saunders Road
Suite 100
Riverwoods, Illinois  60015

Member of the national ElderCare Matters Alliance, Illinois chapter

Steven H. Peck is a native of Boston, Massachusetts and is married with three daughters. Mr. Peck graduated cum laude with a Bachelor of Arts degree in Economics from Harvard College. He received his Juris Doctor degree from Boston College Law School.

Mr. Peck is licensed to practice law in Illinois, New York, Massachusetts, Florida and six federal jurisdictions, including the United States Supreme Court and the United States Tax Court.

Mr. Peck has been involved in the estate and tax planning field for over 19 years and is devoted full time to the practice of estate planning. He is a member of the Illinois Forum of Estate Planning Attorneys as well as Wealth Counsel, a nationwide group of attorneys committed to bringing their clients the finest estate planning advice and documentation possible. Additionally, he is a member of Elder Counsel, which is devoted to the practice of elder law and special needs planning. Mr. Peck is also listed in Nationwide Register’s, Who’s Who in Executives and Businesses.

Mr. Peck has presented several hundred seminars on the topic of estate planning for the public and various private organizations across the country. He was also a faculty member for National Business Institute’s professional education seminar “Handling the Generation-Skipping Transfer Tax”.

Prior to estate planning law Mr. Peck practiced real estate development law and spent four years active duty as a captain in the U.S. Army Judge Advocate General’s Corps. Additionally, he has a substantial knowledge of the insurance field having spent several years as an insurance broker prior to practicing law.

Question of the Day: "How can I become one of the Elder Care Experts on www.ElderCareMatters.com and help families across America plan for and deal with their issues of aging?"

Answer:  If you are an elder care professional and you would like to "get the word out to thousands of families across America in a cost effective way about how you can help them plan for and deal with their issues of aging", then you should join our 1,250 elder care experts as a lifetime member of the national ElderCare Matters Alliance.  And, now, if you are one of the next 250 members, you will receive a 25% discount off the regular lifetime membership price.

This 25% discount is available only to the next 250 elder care professionals who join the national ElderCare Matters Alliance.

So if you are a competent, caring elder care professional – take advantage of this special 25% discount offer and pay only $337.50 for a "lifetime membership" (and there are no annual membership dues, ever!) to the national ElderCare Matters Alliance.

To request an Application for Lifetime Membership, send an email directly to: psanders@eldercarematters.com

Phillip G. Sanders, MBA, MSHA, CPA
Founder & CEO
ElderCare Matters, LLC
1-877-379-4500
www.ElderCareMatters.com

Special Offer: Next 250 Professional Members Receive 25% Discount

If you are an elder care professional and you would like to "get the word out to thousands of families across America in a cost effective way about how you can help them plan for and deal with their issues of aging", then you should join our 1,250 elder care experts as a lifetime member of the national ElderCare Matters Alliance.  And, now, if you are one of the next 250 members, you will receive a 25% discount off the regular lifetime membership price.

This 25% discount is available only to the next 250 elder care professionals who join the national ElderCare Matters Alliance.

So if you are a competent, caring elder care professional – take advantage of this special 25% discount offer and pay only $337.50 for a "lifetime membership" (and there are no annual membership dues, ever!) to the national ElderCare Matters Alliance.

To request an Application for Lifetime Membership, send an email directly to: psanders@eldercarematters.com

Phillip G. Sanders, MBA, MSHA, CPA
Founder & CEO
ElderCare Matters, LLC
1-877-379-4500
www.ElderCareMatters.com

Question: When you need a quick answer about an elder care matter, who can you ask?

Answer:  The experts of the national ElderCare Matters Alliance.

ElderCareMatters.com is now offering a NEW Ask an Elder Care Expert service.

Each week one of our 1,200 experts will answer your family's important questions about elder care matters – from legal, financial, housing, health care, etc.

If you would like to ask one of our Elder Care Experts a question about his/her areas of expertise, just send a short email (a few sentences only please) to:  Questions@ElderCareMatters.com

Every day we will post one of your questions along with an answer provided by our Featured Elder Care Expert of the Week to the homepage of www.ElderCareMatters.com (which is currently visited by thousands of families each week).  Yours may be one of the questions posted.

So bookmark www.ElderCareMatters.com and visit us daily as questions about a wide range of elder care matters are answered by some of America's top elder care professionals with years of experience helping families plan for and deal with their issues of aging.

Phillip G. Sanders, MBA, MSHA, CPA
Founder & CEO
ElderCare Matters
1-877-379-4500
www.ElderCareMatters.com

ElderCare Matters Alliance now has 1,200 professional members

The ElderCare Matters Alliance is a national organization of 1,200 elder care experts who help families across America plan for and deal with their issues of aging, including providing families with a host of elder care resources that can be found on www.ElderCareMatters.com

If you are a competent, caring elder care professional – you need to belong to the national ElderCare Matters Alliance.

To request a Lifetime Membership Application to the national ElderCare Matters Alliance, send an email to psanders@ElderCareMatters.com

www.ElderCareMatters.com – America's online source for elder care experts who help families plan for and deal with their issues of aging.

Phillip G. Sanders, MBA, MSHA, CPA
Founder & CEO
ElderCare Matters
www.ElderCareMatters.com

"Should I transfer my home to my kids to protect it if I should need nursing home care? Please advise."

Answer:  The correct answer is "It depends". It depends on your unique family, health, and financial situation. Tax consequences also have to be considered. In the event you need long-term care, there is a five year look-back period that applies to gifts (transfers of assets without consideration). Thus, if you are faced with a chronic or catastrophic illness within five years after you transfer the home to your children; such transfer may impact your ability to obtain Medicaid (Title 19) benefits. This is a very complicated area of the law and requires careful consideration.

If it makes sense to transfer the home to your children, there are several ways to structure the transfer. The first is an outright gift to your children. This is generally not advisable for tax reasons and asset protection purposes. The second is by completing the transfer but retaining a life estate. While generally superior to an outright gift, this is also not without problems. However, the retained life estate does give you some legal control over the property and also preserves some tax benefits associated with inherited property versus gifted property. The third is a transfer of your home to an irrevocable trust. This is usually the preferred method of protecting the home as it balances tax benefits with asset protection issues and also protects the home from your children's creditors or in the event they should predecease you.

As you can see, the transfer of your home is something that requires careful consideration and sound legal counsel.

Paul T. Czepiga, Esq., CELA
Czepiga Daly Dillman, LLC
Newington, Connecticut  06111
860-594-7995
 Member of the national ElderCare Matters Alliance, Connecticut chapter