Year-End Musings regarding Elder-Law

As I read the newspaper and hear the ongoing reports regarding the fiscal cliff and the general poor state of the economy (state and federal in the case of Rhode Islanders), I am quite concerned for my clients and for my family and friends. I attended an annual federal and state estate planning update two weeks ago and learned that the experts had no clear idea of what lies before us after January 1st. The three speakers disagreed in their predictions of what will occur and where it will leave us. So the message is “stay tuned”. Personally, I want to make sure that I make the best plans for my family but how to plan in the midst of chaos?

To move from the general to the particular, I have found that many clients come in and review their estate plan with us during what we term a “tune-up” but often they fail to follow through. Recently, a client cost his father’s chosen recipients many thousands of dollars by not checking the “transfer on death beneficiaries” of assets owned by the client’s father. The father passed away and the balance of the father’s pension contributions went to a former lady friend who had not been part of his life for more than a decade. What’s the moral of this story? It may be time for you to book a tune-up. Life has become more and more complicated by rules, regulations, and laws. It is difficult if not near-impossible to stay on top of Medicaid, Medicare, Veterans’ benefits, Social Security, state and local income tax laws, estate tax laws and the never-ending changes to all of them. We look forward to meeting with you. Then please follow through after our meeting! We at The Law Offices of Jeremy Howe and at Partners In Mediation wish you and yours a healthy and prosperous 2013.

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The Law Offices of Jeremy W. Howe, LTD. are ElderLaw attorneys in Rhode Island who specialize in wills and trusts, estate planning, guardianship, probate, and Veterans Aid and Attendance Benefits.

They also are Newport Rhode Island Divorce Lawyers, Attorneys, Mediators, and Arbitrators providing services for family law issues such as divorce, child custody and visitation, support, and military family law.

Call them today at 401-841-5700 or visit them on the web at http://www.CounselFirst.com.