Law Office of Jeremy Howe Elder Law Attorney Kristy Garside to Speak at Growing Older Seminar

Elder Law Attorney Kristy Garside will speak at a free seminar entitled

"Growing Older: How Can I Pay for Healthcare and the Services I Need?"

March 14, 2013 in Newport, Rhode Island.

The free seminar is being held from 5:30PM to 7:30PM at the Blenheim Newport, 303 Valley Road, Middletown, RI. Some of the topics and questions that will be addressed include Medicare Coverage, Medicare vs. Medicaid, Homecare, Assisted Living and Veterans Benefits.

Attorney Garside commented on her involvement by stating, "Medicare does not cover expenses associated with the care that an Alzheimer’s patient will need.  It is important to know what other financial programs and services are available."

This seminar is designed for boomers, children of aging parents, and seniors; will answer your questions and educate you on programs, products, opportunities, and strategies; and all while enjoying refreshments at the beautiful Blenheim Newport in Middletown. RSVP to Lynn Squatrito @ 401-239-2509 A light dinner is served at 5:30 pm, Program starts at 6.

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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.

Planning For Your Retirement

Four Retirement Planning Mistakes to Avoid

by Donna Fuscaldo

Everyone knows you have to save for retirement, but creating and following a proper plan is easier said than done. Whether it’s establishing a savings plan too late or collecting Social Security too early, mistakes abound when it comes to adequately funding our nest eggs. 

“The biggest mistake is retiring without any real plan or investment strategy,” says Nigel Green, the chief executive of the deVere Group, a financial advisory firm. “Most aspects of life require planning in order to maximise their chances of success, and retirement is no different.”

Here’s a look at four common mistakes to avoid when planning for your retirement.

Mistake No. 1: Taking Social Security Too Early

Current regulations dictate that you can not receive full Social Security benefits until age of 66 and 2 months for those born after 1955. But just because you are eligible, doesn’t mean it makes financial sense to claim benefits.

Too often people take their benefits too early because they are worried the program won’t be adequately funded in the future or they feel they are better investing the monthly payment, according to Kevin Luss, founder and president of the Luss Group.

“The old paradigm that you retire at 59 is getting to be outdated,” says Luss. “People are living so long that if you retire at 65 you’ll have to live in retirement for 25 years or more.” The longer you wait to collect Social Security, the greater the monthly check will you start collecting.  “There’s an exponential increase when you wait even one or two years longer.”

Mistake No. 2: Not Saving Enough

The general guideline when it comes to funding retirement is you will  need 80% of your preretirement income to maintain your current lifestyle after work.

A recent surveyed conducted by the deVere Group found that even retirees able to create a $1 million nest egg are concerned they may not be able to afford their lifestyle in retirement.

“Despite their wealth, the vast number of respondents told us that their money does not go as far as they had expected due to constantly increasing prices,” says Green.  “Our research shows that if you want to receive a pension of $33,000 a year, this currently requires pension savings of $485,000.  Naturally, if you want a higher annual retirement income the required savings also increases proportionately.”

Read more HERE 

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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.

The Average Cost of Nursing Home Care Moves Upward in 2012

The cost of long-term care increased significantly, according to the 2012 MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs. 

Private room nursing home rates jumped 3.8 percent to $90,520 a year or $248 a day, while assisted living facility costs rose 2.1 percent on average to $42,600 a year or $3,550 a month.

The average cost of homemaker/companions increased by 5.3 percent to $20 per hour. The news wasn't all about increases, however. The cost of adult day care services remained the same as last year at $70 per day and the average cost of home health aides remained at $21 per hour.

The survey also reports on the cost of a semi-private room in a nursing home, which increased 3.7 percent to $222 a day, or $81,030 a year.

Once again, the highest rates for a private nursing home room in 2012 were found in Alaska, where the average cost rose from $655 a day to $687 a day. This year the lowest rates were found in Oklahoma (with the exception of Oklahoma City and Tulsa) at an average of $147 a day for a private room. Texas (with the exception of Austin, Dallas/Ft. Worth, and Houston) had the lowest rate for a semi-private room at an average of $131 per day.

The cost of assisted living continues to be the highest in the Washington, D.C., area, at $5,933 a month (up from $5,757 a month in 2011) and the lowest in Arkansas (except for Little Rock) at $2,355 a month (up from $2,156 a month in 2011). Average home health care aide services ranged from a high of $32 an hour in Rochester, Minnesota (down from $34 an hour in 2011), to $13 an hour in the Shreveport area of Louisiana (down from $14 an hour in 2011). Adult day care services were highest in Vermont at an average of $141 a day and lowest in the Montgomery, Alabama, area, at $26 a day, both down from 2011.

For the full 2012 report, including listings of average long-term care costs in selected cities, as well as the original website for this article, click HERE.  


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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.

Live Up to Your Commitment to the Nursing Home, or Beware

A recent Connecticut case highlights the risk to family members of nursing home residents who don't live up to their financial commitments to such facilities.

When her mother was admitted to the Cook Willow Health Center, Judy Andrien signed an admission agreement on behalf of her mother as "responsible relative," agreeing to take steps to ensure that the nursing home would be paid from her mother's assets or by Medicaid.

The facility sued Ms. Andrien, claiming that she did not live up to this commitment. Ms. Andrien asked the court to dismiss the case, arguing that she cannot be held liable because she did not agree to use her own funds to pay for her mother's care.

The Superior Court of Connecticut has ruled in the facility's favor, stating that the claim is not that Ms. Andrien personally guaranteed payment, but that she is in breach of contract for not using her mother's funds to pay the nursing home or taking steps to get her mother Medicaid coverage. The court's ruling means that the case will continue to trial on the nursing home's claim, which it still must prove.

The moral of this case is that even when family members do not commit their own funds to pay for the care of family members, they can be personally liable if they do not satisfy commitments they make to the facility.

Nursing facilities cannot require a personal financial guarantee as a condition of admitting a family member, and relatives of patients being admitted should sign nursing home admission agreements only as representatives of their parents (or other family members), not for themselves.  (When the case does go to trial, Ms. Andrien might argue that since the facility cannot make a family member's commitment a condition of admission, there was no consideration provided by the facility and that portion of the admission contract may not be enforced.)

To read the full text of the court’s decision in the case, Cook Willow Health Center v. Andrien, go to: http://caselaw.findlaw.com/ct-superior-court/1577974.html

Consult with your attorney before signing any agreement with a nursing home or other long-term care facility. For more on signing nursing home admission agreements, and the original location of this article, click HERE.


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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.

Book Review: Everyday Law for Seniors

Lawrence Frolik and Linda Whitton.

Everyday Law for Seniors. 

Paradigm Publishers. Boulder, CO. 2012. 189 pages.

 $24.95 from Amazon

Seniors confront many issues that require a basic understanding of the law, from financing long-term care to protecting themselves in the event of incapacity. This book provides a clearly written and concise guide to the range of legal options and rights available to seniors.

Written by two law professors and elder law experts, and part of a series of "Everyday Law" primers, Everyday Law for Seniors explains how those in their 60s and older can use the law to their best advantage. The book covers a wide variety of topics of interest to seniors, including age discrimination, Social Security, retirement benefits, Medicare and Medicaid, guardianships, powers of attorney, and elder abuse. In clear, understandable English, each chapter describes the law and gives seniors an overview of their legal rights and protections to help them make the best possible decisions.

The authors don't offer legal advice and the book is not meant as a substitute for a good lawyer. Instead, the straightforward information the book provides can help readers understand their options, ask good questions, and better comprehend any legal advice they receive.

You may find the original article, as well as links to order this book, on our newsletter HERE.


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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.

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.

Social Security Benefits to Edge Up 1.7 Percent

Social Security COLA Going Up

The nation's elderly and disabled Social Security recipients will receive a 1.7 percent increase in payments in 2013. This is expected to raise the average monthly payment for the typical retired worker by $21.  The increase is less than half of last year’s 3.6 percent  cost-of-living adjustment (COLA).

In any case, the modest rise will be partially offset by Medicare's premium increases for 2013, which will be announced soon.  Most Medicare recipients have their premiums deducted from their Social Security payments.  The same COLA will apply to pensions for federal government retirees and most veterans.

“While this modest increase will help, much of the COLA will be consumed by health care and prescription costs, which continually outpace inflation," said Nancy LeaMond, executive vice president of AARP.  "Every day, retirees and other beneficiaries struggling to make ends meet still feel like they’re falling further behind.”

The COLA by the Numbers

Starting in January 2013, the average monthly Social Security retirement payment will rise from $1,240 to $1,261 a month for individuals and from $2,014 to $2,048 for couples. The 1.7 percent increase will apply to both elderly and disabled Social Security recipients, and individuals who receive both disability and retirement Social Security will see increases in both types of benefits.  The maximum Social Security benefit for a worker retiring at full retirement age, which is age 66 for those born between 1943 and 1954, will be $2,533 a month.

Social Security COLA also raises the maximum amount of earnings subject to Social Security taxation to $113,700 from $110,100.  This means that those earning incomes above $113,700 will pay no tax on any income above that threshold.

The COLA increases the amount early retirees can earn without seeing a cut in their Social Security checks.  Although there is no limit on outside earnings beginning the month an individual attains full retirement age, those who choose to begin receiving Social Security benefits before their full retirement age may have their benefits reduced, depending on how much other income they earn.

Early beneficiaries who will reach their full retirement age after 2013 may now earn $15,120 a year before Social Security payments are reduced by $1 for every $2 earned above the limit. Those early beneficiaries who will attain their full retirement age in 2013 will have their benefits reduced $1 for every $3 earned if their income exceeds $40,080 in the months prior to the month they reach their full retirement age.

For 2013, the monthly federal Supplemental Security Income (SSI) payment standard will be $710 for an individual and $1,066 for a couple.

You can find more links and information on our newsletter HERE.
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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.

Single? You Still Need an Estate Plan

Single People Need Estate Plans Too

Many people believe that if they are single, they don't need a will and other estate planning documents. However, estate planning is just as important for single people as it is for couples and families.

Estate planning allows you to ensure that your property will go to the people you want, in the way you want, and when you want. If you do not have an estate plan, the state will decide who gets your property and who will make decisions for you should you become incapacitated. An estate plan can also help you save on estate taxes and on court costs for your loved ones.

The most basic estate planning document is a will. If you do not have a will directing who will inherit your assets, your estate will be distributed according to state law. If you are single, most states provide that your estate will go to your children or to other living relatives if you don't have children.

If you have absolutely no living relatives, then your estate will go to the state. You may not want to leave your entire estate to relatives -- you may have close friends or charities that you feel should get something. Without a will, you have no way of directing where your property goes.

The next most important document is a durable power of attorney. A power of attorney allows a person you appoint -- your "attorney-in-fact" or "agent" -- to act in your place for financial purposes when and if you ever become incapacitated. In that case, the person you choose will be able to step in and take care of your financial affairs. Without a durable power of attorney, no one can represent you unless a court appoints a conservator or guardian. That court process takes time, costs money, and the judge may not choose the person you would prefer.

In addition, you should have a health care proxy. Similar to a power of attorney, a health care proxy allows an individual to appoint someone else to act as their agent, but for medical, as opposed to financial, decisions. Unlike married individuals, unmarried partners or friends usually can't make decisions for each other without signed authorization.

If you are planning to give away a lot of your money, there are ways to do that efficiently through the annual gift tax exclusion and charitable remainder trusts. Other estate planning documents to consider are a revocable living trust and a living will.

Don't think that because you are single, you don't need an estate plan. Contact your elder law attorney to find out what estate planning documents you need.
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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.

Reverse Mortgages Are Causing Some Homeowners to Lose Their Homes

Reverse Mortgages

A reverse mortgage can be a great tool in the right circumstances, but if you aren't careful you could end up losing your home. A recent front-page article in the New York Times lays out some of the problems homeowners are encountering with these mortgages.

You must be 62 years or older to qualify for a reverse mortgage, which allows you to use the equity in your home to take out a loan. The loan does not have to be paid back until you sell the house or die, and the loan funds can be used for anything, including providing money for retirement or to paying for nursing home expenses.

It all sounds like a no-lose proposition, but there are downsides. For example, these loans carry large insurance and origination costs, they may affect eligibility for government benefits like Medicaid, and they are not ideal for parents whose major objective is to safeguard an inheritance for their children. There also have been complaints about aggressive marketing techniques.

In addition to these drawbacks, the Times points out two more important potential pitfalls:

Pay attention to whose name is on the mortgage. When purchasing a reverse mortgage, be sure to put both spouses' names on the mortgage. If only one spouse's name is on the mortgage and that spouse dies, the surviving spouse will be required to either pay for the house outright or move out. This might happen if only one spouse is over 62 when the mortgage is signed. According to the Times, some lenders have actually encouraged couples to put only the older spouse on the mortgage because the couple could borrow more money that way.

Watch out for a lump-sum loan. Usually reverse mortgages come in a line of credit with a variable interest rate. This allows homeowners to take money only when they need it. According to the Times, some brokers have been pushing lump-sum loans because the brokers earn higher fees. The problem is these loans have a fixed interest rate. The interest charges are added each month, so that over time the total amount owed can surpass the amount of the original loan.
The Consumer Financial Protection Bureau, which was created in the wake of the mortgage crisis in part to scrutinize consumer mortgages, is working on new rules to better regulate reverse mortgage lenders and provide disclosures to seniors.

Read more HERE

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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.

“Part 2. When your loved one changes...coping with Alzheimer's Disease”

Coping With Alzheimer's Disease

It's important to remember that the disease, not the person with Alzheimer's Disease, causes these changes.

Part. 2 Changes in personality and behavior

Because Alzheilmer's Disease causes brain cells to die, the brain works less well over time. This changes how a person acts. You will notice that he or she will have good days and bad days.

Here are some common personality changes you may see:

• Getting upset, worried, and angry more easily
• Acting depressed or not interested in things
• Hiding things or believing other people are hiding things
• Imagining things that aren't there
• Wandering away from home
• Pacing a lot of the time
• Showing unusual sexual behavior
• Hitting you or other people
• Misunderstanding what he or she sees or hears

Also, you may notice that the person stops caring about how he or she looks, stops bathing, and wants to wear the same clothes every day.

Other factors that may affect how people with Alzheimer's Disease behave

In addition to changes in the brain, the following things may affect how people with Alzheilmer's Disease behave.
How they feel:

• Sadness, fear, or a feeling of being overwhelmed
• Stress caused by something or someone
• Confusion after a change in routine, including travel
• Anxiety about going to a certain place

Health-related problems:

• Illness or pain
• New medications
• Lack of sleep
• Infections, constipation, hunger, or thirst
• Poor eyesight or hearing
• Alcohol abuse
• Too much caffeine

Problems in their surroundings:

• Being in a place he or she doesn't know well.
• Too much noise, such as TV, radio, or many people talking at once. Noise can cause confusion or frustration.
• Stepping from one type of flooring to another. The change in texture or the way the floor looks may make the person think he or she needs to take a step down.
• Misunderstanding signs.
• Some signs may cause confusion. For example, one person with Alzheimer's Disease thought a sign reading "wet floor" meant he should urinate on the floor.
• Mirrors.
• Someone with Alzheilmer's Disease may think that a mirror image is another person in the room.

How to cope with personality and behavior changes

Read more HERE


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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.

Settlement Reached in Dispute over Astor Estate

Astor Estate Settlement

A settlement has been reached in the dispute over the estate of legendary New York socialite and philanthropist Brooke Astor. The settlement gives $100 million to charity and cuts in half the amount going to her son, who was convicted of stealing from her.

The Westchester County Surrogate's Court approved the settlement, which ends a civil case between Astor's descendants and the charities she supported in her will. The case centered on whether Astor's assets should be distributed according to her most recent will, executed in 2002, or an earlier version, which gave more money to charity.

While the dispute was pending, Astor's son, Anthony Marshall, 85, was convicted of stealing from Astor as her capacity to make decisions deteriorated due to Alzheimer's disease. Astor died in 2007 at age 105.

A New York City jury found Marshall guilty on 14 of the 16 counts against him, including persuading his mother to make changes to her will that greatly benefited him, and abusing his power of attorney by giving himself a $1 million retroactive raise. Marshall is currently out on bail and has appealed his conviction.
 
The settlement is based on Astor's 2002 will, but several later codicils that would have given more money to Marshall and less to charity were ignored.

The principal charities that are benefited are the Metropolitan Museum of Art, the New York Public Library, and New York City's public schools.

Under the settlement, Marshall will receive $14.5 million.


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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.

Who Gets Access to Your Online Accounts After You Die?

What Happens to Your Facebook Account When You Die?

You may have a plan for what to do with your physical belongings after you die, but what about your online accounts? In today’s social media-dominated world, a person's digital presence lives on online even after he or she is gone.

But who has the right to access those accounts? States have begun addressing this issue with new digital access laws.

Under current Facebook policy, if an account member dies, Facebook will remove the account at the request of family or put it into "memorial status," but it is very difficult for family members to get access to the account itself.  Family members may want access to a deceased loved one's account to read messages left by friends or to have the ability to contact the deceased's friends.  Under Facebook’s policy, the estate can have access to a download of account data as long as it has prior consent from the deceased or if it is mandated by law.

Such mandates are beginning to appear.  In 2010, Oklahoma became the first state to pass a law giving estate executors the power to access, administer, or terminate the online social media accounts of the deceased. Two other states -- Nebraska and Oregon -- are now considering similar laws.

Under Oklahoma’s law, the executor automatically has the power to act on behalf of a deceased individual and access a Facebook, Twitter, or e-mail account. The executor does not have to go to court to get access to such accounts.

While states grapple with this issue, it may be a good idea to provide some instruction in your will on how to deal with your online accounts once you die. Contact your attorney to determine if this is something you should add to your will. In addition, online services have also popped up that help people pass on the digital keys to their online lives.


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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.

A Letter of Instruction Can Spare Your Heirs Great Stress

Letters of Instruction

Read original HERE

While it is important to have an updated estate plan, there is a lot of information that your heirs should know that doesn't necessarily fit into a will, trust or other components of an estate plan. The solution is a letter of instruction, which can provide your heirs with guidance if you die or become incapacitated.

A letter of instruction is a legally non-binding document that gives your heirs information crucial to helping them tie up your affairs. Without such a letter, it can be easy for heirs to miss important items or become overwhelmed trying to sort through all the documents you left behind.

The following are some items that can be included in a letter:

• A list of people to contact when you die and a list of beneficiaries of your estate plan
• The location of important documents, such as your will, insurance policies, financial statements, deeds, and birth certificate
• A list of assets, such as bank accounts, investment accounts, insurance policies, real estate holdings, and military benefits
• Passwords and PIN numbers for online accounts
• The location of any safe deposit boxes
• A list of contact information for lawyers, financial planners, brokers, tax preparers, and insurance agents
• A list of credit card accounts and other debts
• A list of organizations that you belong to that should be notified in the event of your death (for example, professional organizations or boards)
• Instructions for a funeral or memorial service
• Instructions for distribution of sentimental personal items
• A personal message to family members

Once the letter is written, be sure to store it in an easily accessible place and to tell your family about it. You should check it once a year to make sure it stays up-to-date.


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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.

When Should You Update Your Estate Plan?

Is it Time to Update Your Estate Plan?

Read original post HERE

Once you've created an estate plan, it is important to keep it up to date. You will need to revisit your plan after certain key life events.

Marriage

Whether it is your first or a later marriage, you will need to update your estate plan after you get married. A spouse does not automatically become your heir once you get married. Depending on state law, your spouse may get one-third to one-half of your estate, and the rest will go to other relatives. You need a will to spell out how much you wish your spouse to get.

Your estate plan will get more complicated if your marriage is not your first. You and your new spouse need to figure out where each of you wants your assets to go when you die. If you have children from a previous marriage, this can be a difficult discussion. There is no guarantee that if you leave your assets to your new spouse, he or she will provide for your children after you are gone. There are a number of options to ensure your children are provided for, including creating a trust for your children, making your children beneficiaries of life insurance policies, or giving your children joint ownership of property.

Even if you don't have children, there may be family heirlooms or mementos that you want to keep in your family. For more information on estate planning before remarrying, click here.

Children

Once you have children, it is important to name a guardian for your children in your will. If you don't name someone to act as guardian, the court will choose the guardian. Because the court doesn't know your kids like you do, the person they choose may not be ideal. In addition to naming a guardian, you may also want to set up a trust for your children so that your assets are set aside for your children when they get older.

Similarly, when your children reach adulthood, you will want to update your plan to reflect the changes. They will no longer need a guardian, and they may not need a trust. You may even want your children to act as executors or hold a power of attorney.

Divorce or Death of a Spouse

If you get divorced or your spouse dies, you will need to revisit your entire estate plan. It is likely that your spouse is named in some capacity in your estate plan -- for example, as beneficiary, executor, or power of attorney. If you have a trust, you will need to make sure your spouse is no longer a trustee or beneficiary of the trust. You will also need to change the beneficiary on your retirement plans and insurance policies.

Increase or Decrease in Assets

One part of estate planning is estate tax planning. When your estate is small, you don't usually have to worry about estate taxes because only estates over a certain amount, depending on current state and federal law, are subject to estate taxes. As your estate grows, you may want to create a plan that minimizes your estate taxes. If you have a plan that focuses on tax planning, but you experience a decrease in assets, you may want to change your plan to focus on other things. For more information about estate taxes, click here.

Other

Other reasons to have your estate plan updated could include:

• You move to another state
• Federal or state estate tax laws have changed
• A guardian, executor, or trustee is no longer able to serve
• You wish to change your beneficiaries
• It has been more than 5 years since the plan has been reviewed by an attorney

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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.

Losing the Forest for the Trees

Can't See the Forest Through the Trees?

This common quote means that if you are so engrossed in looking at individual trees, you might forget that each tree is one of thousands and thus lose sight of the big picture-the forest.

It is much the same in elderlaw. For example, if you focus on the rules of the VA in order to obtain Aid & Attendance Benefits, you can make a mistake and jeopardize your Medicaid eligibility in the future (if you should require assistance to remain in a nursing home).

In elder-law, the trees are Medicaid rules, estate & gift tax laws, income tax laws, VA Aid & Attendance rules, state Probate rules, state statutes and case law. The forest is the comprehensive view of a clients needs, goals, health, and desires or the estate plan of a client.

We saw an example this week. Our client's son and daughter had been advised to spend down their mothers assets by making gifts in the allowed annual amount of $13,000 so that she would qualify for Medicaid nursing home assistance in the future due to lack of assets.

Our clients advisors were confusing one tree (Medicaid allowable spend-down) with another tree (estate & gift tax law). Her gifts would disqualify her from receiving Medicaid assistance for five years from the date of the gifts due to the penalty period imposed by the Medicaid rules. Our client would never have had an estate tax issue because her assets would never reach $900,000, the approximate Rhode Island credit amount.

On the other hand, it was possible that she could run out of funds within the five years and need Medicaid assistance to remain in a nursing home but not be qualified for that assistance due to the penalty.

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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.

The A B Cs of Joint Bank Accounts

Joint Bank Accounts

One might think that the general topic of “bank account ownership” is easy to understand and that forms of bank account ownership are understood by the general public and by bankers. But mistakes are made all the time. To begin with, some accounts were set up by bankers and customers decades ago. The accounts were written out by hand. Some of them listed two names only, some of them listed two names as “Joint Tenants” and others listed two names as “Joint Tenants with right of survivorship.”

The above designations can cause problems when an owner dies or loses capacity.

It bears repeating that if you have a will, the will should address joint accounts. The usual clauses are a “true joint account clause” or an “account of convenience clause.” The former makes clear that your joint accounts were intended to go to the surviving joint tenant. The latter states that your joint accounts were intended as a convenience with the intention that the funds be added to your estate.

A person’s wishes can be thwarted during or after death. In a recent case the bank account was designated as “Joint”. The bank record did not say “with right of survivorship.” The daughter wanted to retain the funds. Her siblings challenged her. The Supreme Court agreed with her siblings. The decedent may have intended that her daughter receive the funds but she did not write “with right of survivorship.”

The moral of the story is: Check every account and be sure that your intention regarding ownership has been properly designated. This problem comes up regularly and it causes family feuds more often than you would think.

In a facetiously written 1998 Rhode Island case it was noted that there are two ways to start a civil action. To paraphrase: The first is to follow the statutory procedure for starting a case and the second was “by opening a joint bank account with right of survivorship. “


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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.

Law Offices of Jeremy Howe, Ltd. Participating in Alzheimer's Awareness Events

Elder Law Specialist Jeremy Howe Lectures on Alzheimer's

May, 2011 - Newport, RI - Attorney Jeremy Howe lectured on May 11, 2011 at the Alzheimer's Awareness Events at Calvary United Methodist Church on the topics of Eldercare Legal Issues, Wills, Power of Attorney, Guardianship, Health Care Proxy, and other Elder and Probate Law related issues.

The events continued on Sunday May 15, 2011 with a Community Homecare Services Fair with agencies on hand to discuss their services for families caring for elderly or ill persons in their home.

Attorney Howe said, "Caring for an elderly parent or relative is often one of the most stressful events in a person's life. The expenses involved, coupled with time management and many other issues can create difficult obstacles to providing the best for loved ones. Having a plan in place can significantly help alleviate these stresses by providing a road map for care of aged relatives. I accept every opportunity to help educate families about their options with regard to caring for their elderly relatives."
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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.

GRANDPARENTS VISITATION RIGHTS

Visitation Rights for Grandparents

The relationship between a grandparent and a grandchild can be one of great joy and importance for both grandparent and youngster. But sometimes an event such as a parent's death, divorce or estrangement can tear families apart and alter or sever relationships. After such events, the child's parents or guardian may block any further contact with grandparents, who may take legal steps to maintain contact with the children they love.

State legislatures have enacted "grandparent visitation" statutes to protect the visitation rights of grandparents and other caretakers.These statutes allow grandparents to ask a court to give them the legal right to maintain their relationships with their children's children.

Visitation statutes, however, do not give a grandparent an absolute right to visitation. A 2000 U.S. Supreme Court ruling gives priority to the wishes of the parents in resolving visitation disputes, and this ruling is changing state courts' interpretation of visitation statutes.

One way to avoid a court battle is to try professional mediation. In mediation, the disputing parties engage the services of a neutral third party to help them hammer out an agreement that all concerned can live with. The disputing parties have a chance to explain their perspectives and feelings. In a court of law, on the other hand, the judge will ultimately make a decision based on laws that may seem unfair to one or both sides. Call Jeremy Howe at 841-5700 to discuss Grandparents Visitation and visit ElderAnswers.com for more information.
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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.

Estate Planning in RI Elder Law House Calls

A new (grieving) widow wrote to Jeremy:

“Thank you so much for handling the Deed to my home, my Will and all other matters. I appreciate your kindness in coming to the house for my convenience. It is difficult for me to get to your office. …I’ve always felt relaxed in your presence and confident that you would advise me what to do which would be most beneficial to me. …I really do consider you a dear friend.”

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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.

Deceased Ex-Husband and RI Pension Funds

Results by Newport Attorney Jeremy Howe

Newport RI Estate Planning and Divorce Attorney Jeremy Howe and Associates drafts a Qualified Domestic Relations Order to secure retirement funds from ex-husband who died before reaching retirement age.

Hired by the Wife to complete the QDRO due to the fact her now ex-husband died before reaching retirement. The original QDRO that had been presented to the company was rejected and a final, revised version was never submitted by the original attorney before the husband passed away.

We consulted with the original attorney to reach a resolution. We drafted an Order that was acceptable to the Plan, and the division was made so our client could receive her portion of those retirement funds.

We also assisted our client in understanding the issues with regard to the potential rights of the ex-husband’s heirs and the company’s duty to all parties involved.

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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.