Scott Makuakane, Attorney at Law, CFP
Founding Partner, Est8Planning Counsel LLLC
Honolulu, Hawaii 96813
808-587-8227
www.est8planning.com
Member of the national ElderCare Matters Alliance, Hawaii chapter, State Coordinator
The Perils of Joint Tenancy
Read more on Today's Article on ElderCareMatters.com: "The Perils of Joint Tenancy"…
Ronald Zack, Esq.
Ronald Zack, PLC
Tucson, Arizona 85701
520-331-3232
www.TucsonEstatePlanning.com
Member of the national ElderCare Matters Alliance, Arizona chapter
Last Will and Testament (Yours and the one the state has for you)
James J. Ruggiero, Jr., Esq., AEP
Ruggiero Law Offices
Paoli, Pennsylvania 19301
610-889-0288
www.PaoliLaw.com
"ARE YOU HAVING A BAD HEIR DAY?"
As Benjamin Franklin once said, “You may delay, but time may not.” No truer are these words than in the case of estate planning. The average person allows 10-to-15 years to elapse before revising his or her estate plan. Life’s ups and downs, and the impending estate tax law changes, present the opportunity to protect your legacy.
Read more on Article of the Week on ElderCareMatters.com: "ARE YOU HAVING A BAD HEIR DAY?"…
Heather R. Chubb, Life Transitions Lawyer
The Chubb Law Firm
Gold River, California 95670
916-635-6800
Member of the national ElderCare Matters Alliance
Do you remember the uncomfortable feeling you had when your mom or dad sat you down to have “the talk”? Well, I want you to have a talk of a different kind with your parents. This next talk may make you and your parents just as uncomfortable as the first one, but it’s equally as important. I want you to talk to your parents about their estate plan. Read more on Article of the Week on ElderCareMatters.com: "THE SECOND TALK"…
Read more on Article of the Week on ElderCareMatters.com: "THE SECOND TALK"…
Dennis Duncan, Attorney at Law
The Law Offices of Dennis L. Duncan, P.C.
Macon, Georgia 31210
478-254-4232
Member of the national ElderCare Matters Alliance, Georgia chapter
The collective goals of Mr. and Mrs. Marlowe are to protect their family assets for the future benefit of Mrs. Marlowe, their grown children and grandchildren, and accomplished this while at the same time establishing compensability for Mr. Marlowe for Medicaid benefits. The Marlowe family estimate that Mr. Marlowe will need to transition into a long-term skilled care facility in the next two to five years. Read more on Article of the Week: "An Elder Law Case Study – Medicaid and Estate Planning for Mr. and Mrs. Marlowe"…
Joseph F. Pippen, Jr., Attorney at Law
Law Office of Joseph F. Pippen, Jr. & Associates
Largo, Florida 33771
727-586-3306
Member of the national ElderCare Matters Alliance, Florida chapter
Read more on Article of the Week: There are Options in Estate Planning…
Kenneth C. King, Jr., Esq.
King Law Group, P.C.
Roanoke, Virginia
1-866-985-1123
Member of the national ElderCare Matters Alliance, Virginia chapter
The holidays are the best time of the year for talking T-U-R-K-E-Y. As you savor turkey and gravy and once again remember how good the green bean casserole really tastes, gather your family into a "Time to Talk Turkey" about your family's Love 'n Money. The holidays are the right time to formulate and discuss your family's plans, including your estate plans.
To get you started, during a large helping of mashed potatoes and gravy, here is a simple formula for family discussion: talk T-U-R-K-E-Y(the "Turkey" topics are in the following paragraphs). For each Turkey topic, discuss who, what, when, where and how. It is that simple. So, let's get talking T-U-R-K-E-Y about your family's Love 'n Money. For each letter in "Turkey", we'll get you started with some questions. Now, it is your turn to provide the discussion. Read more on Time to Talk T-U-R-K-E-Y…
David Paul Pollan, Esq.Nursing Home care can cost $8,500 to $10,000 per month. Few people can afford to pay privately for long-term care indefinitely.
All too often, elders assume Medicare will cover continuous nursing home care should the need arise. In fact, Medicare has a very limited "skilled rehabilitation" benefit and for only a maximum of 100 days per spell of illness. Beyond the 100 day maximum benefit period, an individual will either pay privately or seek eligibility for "Nursing Home" Medicaid. Nursing Home Medicaid is an available payment source for continuous nursing home placement for those individuals who meet financial eligibility criteria. Read more on Nursing Home Medicaid and Estate Planning Considerations…
Richard M. Morgan, JD, LLM
Morgan and DiSalvo, P.C.
Alpharetta, GA 30022
678-720-0750
Member of the national ElderCare Matters Alliance, Georgia chapter
Executive Summary: Converting your investments in traditional IRAs to a Roth IRA during 2010 can be an important planning opportunity for many tax payers. This conversion allows you to move from a tax deferred environment into a tax free environment. While this opportunity is normally open to those with income below a certain cap amount, during 2010 no such income cap exists. Further, while such conversion is an income taxable event (but without any penalties), conversions during 2010 give you the option to defer the taxable income by recognizing 1/2 in 2011 and 1/2 in 2012. Read more on Window of Opportunity: Convert Traditional IRA to a Roth IRA During 2010…
Scott Makuakane, JD, CFP
Est8Planning Counsel LLLC
Honolulu, HI 96813
808-587-8227
Member of the national ElderCare Matters Alliance, Hawaii chapter
What is a trust?
A trust is the legal relationship that is created when a person transfers property to a trustee with the understanding that the trustee will manage the property for the benefit of one or more beneficiaries.
Read more on Answers to frequently asked questions about revocable living trusts…
Paul T. Czepiga, J.D.
Czepiga Daly Dillman, LLC
Newington & Wethersfield , Connecticut
860-563-4070
Member of the national ElderCare Matters Alliance,
Connecticut chapter
Editor's note: The following article about the probate process is a case study of the system in Connecticut. Although not nati0nal in scope, the steps examined in this article may be useful when doing estate planning in whatever state you live in and for generating questions for your financial and legal advisors.
Many people believe it is important is avoid probate. Some have heard that using a "living trust" avoids probate. Others may have had a particularly bad experience with a probate court.
To understand why one might want to use or avoid probate, let's first understand what the probate court's role is in processing estates of decedents, sometimes called the estate administration process. Read more on The Probate Process – Connecticut's 6 steps can help you understand your state's procedures…
Ben A. Neiburger, JD, CPA
Neiburger Law, Ltd.
Elmhurst, Illinois
630-782-1766
Member of the national ElderCare Matters Alliance, Illinois chapter
Estate planning helps ensure your assets go to your desired beneficiaries after you pass away. This article describes the tools, such as gifts, wills, beneficiary designations, trusts, and strategies that elder law attorneys use to create an estate plan. Read more on Estate Planning Tools to Transfer Assets After Death…
By Sanford J. Mall, JD, CELA
Mall Malisow & Cooney, P.C.
Farmington Hills, Michigan
248-538-1800
Member of the national ElderCare Matters Alliance, Michigan chapter
Elder law is a specialized area of law that focuses on assisting older individuals and those with disabilities preserve their dignity, protect their assets, and make good decisions despite increasingly complicated laws. This specialty encompasses such areas as planning and paying for long-term care, asset preservation, housing options, disability planning, estate planning (including the use of financial and health care durable powers of attorney), and when necessary, the involvement of the probate court.
Read more on Understanding Elder Law…
By John Stewart
Director of Estate and Asset Services
American Cancer Society
1-877-227-1598
Member of the national ElderCare Matters Alliance, Georgia chapter
An estate plan aims to preserve the maximum wealth possible for the intended beneficiaries, while providing financial flexibility for the plan's owners throughout their lives.
Most Americans can benefit from estate plans, but more than half don't have one in place.
Read more on Value of estate planning is lost to half the population…