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Estate Planning Myth #4: “If I need nursing home care, Medicare will pay for...
In some part, this myth is perpetuated due to the fact that “Medicare” sounds very much like “Medicaid,” which does pay benefits for nursing home care for approved applicants. Medicare Part A will pay...
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The advantage of disclaiming an inheritance
Although it is counterintuitive, one or more of your beneficiaries may wish to decline part or all of the inheritance left to them. Refusing to receive an inheritance is often referred to as...
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Elder financial abuse: are your loved ones safe?
Huguette Clark and Brooke Astor have a lot of things in common. They both were wealthy beyond wildest imagination, they both enjoyed their 104th birthday, and they both seem to have suffered elder...
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Update on living trusts: what are they and what purpose do they serve?
There is always a lot of discussion regarding the need or desire to have a living trust. It should be noted that there are many different types of trusts, the principal differences being revocable...
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Revival of the Estate Tax? Political candidates turn up the heat on the issue
With mid-term elections just around the corner, an issue that has lain dormant all year has been revived. The federal estate tax, (or lack thereof,) has become a rallying cry for politicians in...
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How to find the right caregiver for your loved one
Finding the right home care employee is very similar to choosing the right professional - it takes time to be sure that the selection process is proper, and sometimes the only way that you know you...
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Massachusetts caregiver authorization affidavit
Previously, if a parent needed to have their minor child or children reside with a non-parent, the non-parent would need a guardianship to allow the non-parent the proper authority to deal with the...
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Update on long-term care insurance
At one time, long-term care insurance was only suggested to individuals who were 60-years of age or older. However, baby boomers who are approaching this age may also consider the coverage, as they...
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Beneficiary designations - assuring that your assets are distributed as you...
An often overlooked, but critical decision in estate planning is the completion and determination of your beneficiaries. This includes assets such as retirement plans, IRAs, life insurance policies,...
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Tax treatment of legal malpractice recoveries
Legal malpractice claims can arise out of any type of law. In a successful legal malpractice case, the plaintiff will recover some amount of money from either the lawyer who made the mistake, or from...
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Posthumous sperm or egg donations - legal and ethical considerations
Is it possible to leave any kind of posthumous gamete donation? Experts are sounding in, and the opinion is that from a legal perspective it should be handled similarly to an organ donation. But why...
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Update on FDIC insurance
October 3, 2008, there was an increase in Federal Deposit Insurance Corporation (FDIC) insurance on bank accounts from $100,000 to $250,000. At the time the law was passed, it was to be temporary and...
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The advantages of gifting in 2010. Hurry…time is running out!
At this time last year, it was anticipated that the Federal Government would make changes to the estate and gift tax rules as no one thought that the unlimited exemption would be allowed to be in...
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10 signs of Alzheimer’s disease
It is common for someone to see their parent, grandparent, or other older relative infrequently. However, for those who have frequent contact with elderly family members, it is often difficult to...
View ArticleRevisions to Minor Caregiver Agreements
Parents can now provide another party with concurrent authority to make decisions regarding their child's healthcare and school without relinquishing their own control. This video provides details...
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A summary of the new CLASS Act
Imagine that long-term care insurance meets Medicaid, and you begin to have some idea of the new CLASS Act. CLASS is a program established by the new health care law and stands for Community Living...
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Another year, a new estate tax!
On December 17, President Obama signed into law The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (The 2010 Act,) which went into effect immediately. The law finally...
View ArticleAdding your kids on your home ownership is a dangerous estate planning tactic
Adding your kids on your home ownership as an estate planning tactic is common, yet dangerous. This video explains why you should be very wary of doing this. Michael J. Grilli, Esq, 413.781.0560,...
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Tax treatment of legal malpractice recoveries
Legal malpractice claims can arise out of any type of law. In a successful legal malpractice case, the plaintiff will recover some amount of money from either the lawyer who made the mistake, or from...
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Avoiding caregiver stress
A caregiver is anyone who helps another person in need with daily tasks such as bathing, cooking, eating, taking medications, dressing, using the bathroom, shopping, house cleaning, and the like....
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