By Andrew M. Lamkin, Esq. On February 8, 2006, President Bush signed into law the Deficit Reduction Act of 2005 (DRA). The Act reduces federal entitlement spending for Medicaid, among other federal programs. The Medicaid program pays for services for disabled seniors who meet the eligibility requirements. Most commonly, Medicaid pays for the cost of home health aides and...
Continue ReadingThe International Network for the Prevention of Elder Abuse (INPEA) has announced that World Elder Abuse Day 2010 is June 15. According to INPEA somewhere between 4% and 6% of the elder population suffer some form of abuse in the home and even more at risk of abuse in institutions such hospitals and nursing home. Risk factors for elder...
Continue ReadingGrantor Trusts Any Trust which is created by an individual and where the individual transfers assets to the trust and the assets remain in the trust for the lifetime enjoyment of that individual. The Individual is referred to as the Grantor. Examples of Grantor Trusts and the various Tax implications of each Revocable Trust – Trust whereby the Grantor...
Continue ReadingA few months ago, I met with a client who wished to update his Last Will and Testament and learn how to protect his assets against the cost of Long Term Care. He was widowed, had a partner of 10 years and two children from his previous marriage. He was 85 years old. His assets included his primary residence...
Continue Readingby Rosemarie Davidson One of the challenges people face when moving to a smaller space is trying to figure out the best way to downsize their homes. Today, there are more options than ever, including online auction sites, charitable donations, traditional garage sales and estate sales. “The way individuals choose to get rid of their possessions can be a...
Continue ReadingFor many of us, every day is a chance to promote Down syndrome awareness—advocating for our children to be included in school and community activities, highlighting their talents, giving them opportunities to show just how much they have to share. The calendar, however, provides us with one month during the year when we can really step up those efforts....
Continue Reading