World Elder Abuse Awareness Month

As the month of June drew to a close, many of us were unaware of the fact that June is World Elder Abuse Awareness month. Elder abuse is a sad topic, and one that is often under-reported and hidden from view. Its annual awareness month hopes to shed light on ways that people can detect or help when an elderly loved one is being abused.

Elder abuse can manifest itself in several ways. Physical, emotional and sexual abuses are a few tragic forms of abuse that some seniors suffer at the hands of their caregivers. However, financial abuse is a form of elder abuse that often goes unnoticed by loved ones. Financial abuse among the elderly is most likely to come at the hands of family members and caregivers, due in part to the fact that many seniors may be too trusting or polite to fully recognize when someone is taking advantage of them.

To read more about the different forms of elder abuse, and to learn what you can do to help detect and prevent it, click on the following AARP article:

http://blog.aarp.org/2013/06/14/elder-abuse-awareness-day-7-ways-you-can-help/

The attorneys at the Law Offices of Jeremy W. Howe, LTD., specialize in elder law. If you need advice for yourself or a loved one on ways to be protected from financial elder abuse, contact the lawyers at his Providence, Rhode Island office for a free comprehensive telephone consultation.

Attorney Jeremy Howe and his team of elder law and family court lawyers have been providing quality elder law representation in Rhode Island for nearly four decades. He and his co-mediator have successfully mediated hundreds of divorce, family law and elder law cases throughout the state of Rhode Island.
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To learn more about The Law Offices of Jeremy W. Howe, please visit them on the web at http://www.counselfirst.com

Forbes Notes the 7 Major Errors in Estate Planning

 Errors in Estate Planning

This article from our monthly Elderlaw News E-Newsletter about errors in Estate Planning talked about the "7 Major Errors in Estate Planning." The article was posted by Forbes and can be accessed at http://forbes.com/sites/robclarfeld/2012/04/25/7-major-errors-in-estate-planning/?typ. We like to know that other planners experience the same issues, and sometimes to hear it from someone else helps you to "hear" it!

This article addresses the benefits in having an estate plan, the risks associated with not having an estate plan, and common errors within those plans. The article also stresses the importance that "Estate Planning is not a Do It Yourself (DIY) task" and "relying on discounted, on-line estate planning documents is not only going to leave you uninformed and unadvised, but you also take the risk for inadequancies to be discovered in those documents when examined post-mortem."

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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.

Medicaid Protection of Assets by Funeral Preplanning

Medicaid Protection of Assets by Funeral Preplanning

It is common knowledge that one acceptable use of funds by a person seeking to qualify for Medicaid benefits is to prepay funeral expenses. In many cases, elders go to their funeral director and pay for the expenses with cash assets or they assign life insurance to the extent necessary.

Another more flexible method is to fund an irrevocable “funeral trust”. Rhode Island and Massachusetts law allow each person to fund an irrevocable “funeral trust,” with up to $15,000. (CT law only allows $5900). Funding for this can be from the cash value of an existing life policy (a 1035 tax free exchange), or in cash.

The advantage of a funeral trust over a pre-paid funeral is the flexibility of using any funeral home or burial service in any state, with the safety of the funds being in a guaranteed life insurance policy.

The fund is exempt from Medicaid and Supplemental Security Income (SSI) “spend down” requirements as soon as it is funded. Clearly, the trust funds can be used for all usual expenses of a funeral and other events relating to the funeral. It can also be used for additional expenses such as a permanent cemetery monument, travel expenses for family members, outstanding debts or obligations, various medical and professional fees and a post-funeral gathering. There is no “extra” cost for utilizing a financial adviser to assist you in setting up the irrevocable funeral trust. The adviser will be compensated by the company holding the trust.

One of the important aspects of the trust is that it is irrevocable which means that no person (even the grantor) can revoke the trust and gain access to the funds. Often we see situations where a person plans their estate plan but it is undone due to use of a Durable Power of Attorney or by the trustees of a revocable trust. This form of funeral planning secures the wishes of the grantor.

Special thanks to Robin of ROBIN G. SMITH CONSULTING for her contribution to this article.
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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.

Are Digital Wills Coming Soon?

Digital Wills

I was surprised to find that some states have opened the doors to digital wills. As described in The Lawletter from The National Legal Research Group, Vol 37, No 7, it is inevitable that states will soon have to address the rise of the digital will. At presentNevadais the only state to have codified requirements for such wills. TheNevada“Electronic Will” statute is instructive regarding how will execution formalities might be modified to accommodate digital will execution. It also highlights areas of technological improvement necessary to put digital wills on a par with paper wills in protecting against fraud and undue influence. The Nevada Statute requires the testator’s electronic signature as well as an “Authentication Characteristic”. This phrase is designed as “a fingerprint, a retinal scan, voice recognition, a digitized signature or other authentication using a unique characteristic of the person.” Such protective features are not widely available in the market it seems so how practical is this statute? It is easy to imagine the potential for abuse. It is difficult enough to avoid abuse when utilizing the ancient tried and true will formalities. One can only wonder whether future (evil) computer wizards can be restrained from attacking will formalities by staying one step ahead of the authorities. Can we rely upon a digital will “written” twenty years before the death of the decedent at a time when the computer world might have changed so drastically in that twenty year period. Think a 3.5 “ floppy disc written in 1985 on MacWrite, now obsolete. While society is racing into the digital age, this is one advance that will require a lot of thought before implementation.

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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.

5 Ways Your Will Can Become Useless, Or Close to It

Out of Date Wills

Is having an out-of-date will better than having no will at all? While wills do not have expiration dates, certain changes can render them useless. When this happens, having an out-of-date will can be the same as having no will at all. It is important to review your will periodically to ensure it still does what you want.

The following are five ways your Will can become out-of-date:

Your beneficiaries have died. What happens if your will leaves your estate to your two siblings, but both siblings die before you? If your beneficiaries predecease you, your will is still technically valid, but it will have no effect on who will inherit from your estate. Instead, your estate will be distributed according to the law in your state, just as if you had died with no will at all.

You have potential new beneficiaries. A will that was written before you got married or had children will be of little assistance in distributing your estate. States have provisions that protect spouses and children that come after a will is written. In most states, spouses are entitled to a certain percentage of an estate. In addition, many states have laws that protect children born after a will was written, allowing them to inherit from the estate. It's possible that under the laws of your state, a spouse and children not named in your will may not receive as much as you would have wanted them to. In both of these circumstances, state law is dictating where your estate is going, not you.

Your executor is dead or unable to serve. The executor (also called a personal representative) is the person named in your will who oversees the distribution of your property. If the person you named as executor is unable to serve, the court will have to appoint someone else. Beneficiaries may have a say in who is chosen, but it may not be someone you would have wanted in the position.

You no longer own property named in the will. Suppose your will attempts to divide up your estate equally by giving cash to your daughter and property of equal value to your son. If the property is sold before you die, your son will receive nothing. In this case, your will is no longer ensuring your estate is divided equally.

The law changes. If your estate plan was designed specifically to avoid estate taxes and the estate tax law changes, your will may no longer serve its purpose.
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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.

Estate Planning Issues to Consider

Estate Planning

In May, 2011, I was asked to speak at the United States Coast Guard’s Senior Executive Leadership Conference on the key issues facing our generation as they relate to elder law and elder care. Many in our generation are taking care of themselves and their children, as well as elderly parents, so I focused on advance care and estate planning.

Just recently I met with the Coast Guard officer who had invited me to the conference. He told me that the “reviews” of my talk were very positive and he asked if I would be willing to come to the next conference since so many of the attendees found the subject matter of personal interest. Of course I was flattered by the invitation, but more importantly, I was reminded how “timely” the subject of estate planning is and how critical it is that people learn now what they should have in place for the future.

Simply put we need to start asking the following:

• What type of medical care do I want towards the end of my life?
• Where do I want to be cared for?
• How can I ensure that my desires will be honored if I am not able to speak or act for myself?
• What financial arrangements should I make now to ensure that I can receive the care I want?
• What resources are available for my care?
• What will happen if I outlive my assets?
• What do I want to happen after my death?

The practice of elder law attempts to assist people in formulating the answers to these questions by articulating goals for care while you are alive and plans for taking care of your estate upon your death. At the very least your planning should include the drafting of Durable Powers of Attorney for Medical Care and Finances and executing a Will or Trust. Our office can help by initiating the discussion that leads to plans that will meet your individual needs.

- Hilary



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The Law Offices of Jeremy W. Howe, LTD. are Elder Law Attorneys in Newport, 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