Estate planning is a dry and dull subject. However, the family dynamics and transactions of celebrities bring issues involving estate planning before society as a whole. The deaths of Michael Jackson, Catherine Hepburn, singer Don Ho and the problems involved in their estates have been in the news in the past few years. The problems encountered by … [Read more...]
Nurse Practitioners Want Freedom from Supervising Doctors
Last year in the State of New York midwives obtained the ability to practice their craft without the supervision of physicians. This year nurse practitioners are seeking the same freedom. Pending Legislation in New York There is currently a proposed bill before the New York State Legislature that would eliminate the requirement that nurse … [Read more...]
Abuse of the Elderly for Financial Gain
In the year 2000, Howard Thomas suffered severe dementia. He also had terminal cancer. In early 2001, his daughter, who was his primary caretaker, took a short vacation. He was left in the care of a Nidia Thomas. While Mr. Thomas’s daughter was away, Nidia arranged for a $150,000 bank account in Mr. Thomas’s name to be retitled from his name to a … [Read more...]
Alzheimer’s Disease: What are the Symptoms?
Are you concerned that either you, a close friend or a loved one has the early stages of Alzheimer's disease? What are the signs and symptoms of Alzheimer's disease? Are your parents just becoming forgetful or do they have the early symptoms of Alzheimer's disease? Should you believe that yourself, a friend, a family member or a loved one is … [Read more...]
Caring for Senior Citizens From Long Distance
When we were born, our parents cared for us. Are we up to the task of taking care of our parents when they grow old? This is especially difficult when you don't live near your parents. Siblings Nearby Some people are lucky, in that a brother or sister lives near their parents. While the sibling becomes the primary caretaker, it is … [Read more...]
A Gift to Americans From Congress and President Obama
President Obama, in a statesman-like series of decisions, has worked out a compromise with the new Republican majority in the House of Representatives regarding jobless benefits, income taxes and estate taxes. Although some of the President's democratic colleagues did not see eye-to-eye with the President on this issue, in the spirit of … [Read more...]
Senior Citizens Filing Bankruptcy
Many seniors no longer have sufficient assets to maintain their lifestyles. There is a tendency in these situations to go into debt. Seniors use credit cards to finance routine purchases with the hope that they will be able to pay their credit cards back at some point in the future. In some instances, they are unable to accomplish this goal. … [Read more...]
What Wills Can’t Do
There are many very important uses for wills. However, there are things for which wills were not designed and cannot accomplish. The following are a list of things that can NOT be dealt with in a will: 1. If you own assets in a "joint tenancy" with another individual, or a "tenancy by the entirety" (a marital estate), you cannot dispose of … [Read more...]
Wills And Trusts Can Reduce Estate Taxes
Individuals with significant assets can reduce their tax liability upon their death by using sophisticated wills and trusts. In 2010, the wills, trust and estate area is facing a unique situation. For the 2010 calendar year there is no federal estate tax. After 2010, the federal estate tax exemption will go back to one million dollars. Well … [Read more...]
Why Create An Irrevocable Trust?
Irrevocable trusts cannot be changed. They are permanent trusts. Asset Protection: When you place your assets in irrevocable trust, you remove ownership and control of those assets from the creator of the trust. These types of trusts are used for Medicaid planning purposes. It should be noted that there is a five year look-back period for … [Read more...]
