On May 24, 2018, the Economic Growth, Regulatory Relief, and Consumer Protection Act was signed into law. The Act contains a section that was once a stand-alone bill designed to encourage the reporting of elder (age 65 and older) financial abuse witnessed by financial institutions. The Act doesn’t mandate institutions to report financial abuse but […]
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VA released the internal rankings of VA nursing homes nationwide in 2018 as part of an effort to increase transparency within the Department of Veterans Affairs (VA). The 5-star ranking system helps veterans and their families to locate the best facility possible in their area. The posted performance ratings are updated annually and include the […]
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Since Americans are now living longer than previous generations, our retirement years may be extended as well. Since expenses, taxes, and inflation don’t go away simply because we retire, we need to make sure we have enough money to live comfortably while meeting increasing costs of living. The first step in the process of planning […]
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Long-term care (LTC) for older adults may soon become a crucial part of technologies that use artificial intelligence (AI). The increasing relevance and adoption of AI have sparked debate over whether introducing it to healthcare technologies is ethical. At Camden Law, our elder law attorneys are excited about new opportunities in LTC, but as senior […]
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As of May 24, 2018, the Senior Safe Act was signed into law to make it easier for financial institutions and regulators to report cases of potential financial exploitation of senior citizens. Those who are covered by this law include financial institutions, investment advisers, transfer agents, broker-dealers, and their properly trained employees. Any reports of […]
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The first significant retirement legislation changes since 2006 was the Setting Every Community Up for Retirement Enhancement Act (SECURE). The impact of the SECURE Act on some retirees, near-retirees, and their future beneficiaries may significantly affect you, and it’s imperative to schedule a review of your retirement accounts and estate planning documents. Changes in the […]
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The US Veterans who are preparing to retire have access to a variety of benefits programs, both short-term and long-term, for financial support and care. Programs include but are not limited to: Veterans’ Health Care and Veterans’ Pensions Survivor’s Death Pension Housebound Pension Aid and Attendance Pension Disability compensation Burial benefits And more Which Program […]
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We tend not to talk or think about end-of-life planning because it’s a difficult topic for us. But without planning for it, we will have fewer options and things may not go as well as we would like for them to. You may wish to pass away in the comfort of your home, but without […]
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Smart homes, self-monitoring medical devices, telehealth, and the internet of things make it possible for many older Americans to remain in their homes for longer periods of time. Elder law and at-home medical technology uses can intersect in several ways. Whether you are a senior looking to stay in your current home or have an […]
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The Social Security fund is funded by payroll taxes paid by U.S. workers during their working years. Individuals may opt to receive Social Security benefits as early as age 62. However, claiming SS benefits before the full retirement age (FRA) reduces your payment even though you will receive the benefit for a longer time. Aside […]
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This question is asked all the time: “Wouldn't it be easier to get a will off the internet, transfer my land when I die, and put my children on my bank account?” It’s just not a good idea. For the plan to work as you would want it to, it should account for plenty of complications. A good plan should protect your spouse and your children from the loss of valuable government benefits if anybody is or becomes disabled. The plan should avoid the delay and expense of probate court. The plan should protect money from children’s creditors or divorce or remarriage. It should be crafted to serve family harmony and to avoid disputes between children as joint owners. Even a relatively simple situation is made up of many moving parts. Internet documents and joint-ownership devices just won’t do the job.
Also, assembling the moving parts so they work smoothly is just the first step. Your estate plan needs maintenance too, just like your car has a “check engine” light. Major family events like serious illness or death, marriage, birth, or financial reversals are alerts that you should tune up your plan to reflect those changes. Your plan shouldn’t be “one and done.”
It takes expertise to coordinate the various strategies available. Don’t risk a result that will cause your family problems and unnecessary expense. Call us to create a plan that harmonizes the moving parts, so the gears will work together and you will leave the legacy you intended. We hope you found this article helpful. If you have questions or would like to discuss your legal matters, please do not hesitate to contact our office at 215-364-1111 to schedule a consultation.
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