RI Elder Law News from Attorney Jeremy Howe

Friday, April 13, 2012

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.

Wednesday, April 11, 2012

Social Security's Benefits for Spouses

Social Security Benefits for Spouses

Read more HERE

Social Security doesn't just pay retirement benefits to retired workers; in some circumstances, it also provides benefits to a worker's spouse or ex-spouse and to a deceased worker's surviving spouse.

Here are the ins and outs of spouse and survivor benefits.

Spousal Benefits

Spouses are entitled to benefits if the marriage lasted at least 10 years. A spouse is entitled to an amount equal to one-half of the worker's full retirement benefit. To receive this benefit, you must be at your full retirement age or caring for a child who is under 16 years old. In addition, your spouse must have filed for Social Security retirement benefits even if he or she isn't receiving them.

If you could receive more from Social Security based on your own earnings record than through the spousal benefit, the Social Security Administration will automatically provide you with the larger benefit. If you have reached your full retirement age, you may also elect to receive spousal benefits and delay taking your benefits, allowing your own delayed retirement credits to accrue, and switch to your own benefit at a later date. However, you cannot elect to receive spousal benefits below your retirement age and later switch to your own benefits.

If you begin collecting your spousal benefit before your full retirement age, your spousal benefit will be permanently reduced. But if your spouse retires early, but you wait until your full retirement age, you will still receive benefits based on one-half of his or her full retirement benefit.

Divorced spouses

An ex-spouse is also entitled to receive one half of the worker's full retirement benefit as long as the marriage lasted at least 10 years. Unlike a current spouse, a divorced spouse can begin receiving benefits even before the worker has applied for benefits. The worker must be at least 62 years old and the divorce must have been final for at least two years.

Survivor Benefits

If you are a surviving spouse at full retirement age, you are entitled to the worker's full retirement benefits. If the worker delayed retirement, the survivor's benefit will be higher. Survivors are entitled to benefits even if they are divorced as long as they had been married for at least 10 years. If you file for benefits before you are over age 60, but below full retirement age, you will receive a reduced percentage of the worker's benefits. Surviving spouses who are younger than 60 receive benefits only in limited circumstances, such as cases of disability or caring for a disabled child.

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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.

Friday, April 6, 2012

Are you Covered?

Here is an excerpt from our monthly newsletter from Robin G Smith Consulting. Insurance Advice and Advocacy for Seniors.

Call her at 888-363-3914 Or Email robin.g.smith@att.net.

You can contact our office as well to determine whether you could benefit from Robin’s services, or if you want to discuss similar or other elder law issues. 401-841-5700
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Many people will continue to work well past 65, or will have an illness where day to day expenses will not be covered. Critical illness insurance pays a lump sum when you get sick with one of the covered illnesses, and can be purchased to age 69 (and kept as long as you pay the premium). This insurance has become very popular as boomers know people who have strokes, heart attacks, or who are diagnosed with cancer, and the expenses that ensue.

One of the frustrations of clients trying to get long term care coverage, (i.e., chronic care not covered by Medicare) is that they are deemed too old and/or too sick to qualify. I now offer a Home Care Plan that pays for home care services and can be purchased at any age. It’s a membership plan, rather than insurance, and a good deal for clients who believe they or a loved one will need home care services in the near future.

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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.

Wednesday, April 4, 2012

WHAT IS ELDER AND ADULT FAMILY MEDIATION?

Elder and Adult Family Mediation

Most of what we term mediation involves a process wherein litigants or contestants (or a group of people) with a problem participate in a process with a neutral mediator in order to find common ground by defining issues, exploring options and finding a solution. The participants make the decisions. The mediator(s) act as guides but do not judge or impose a solution.

In the case of "ELDER AND ADULT FAMILY MEDIATION" the process is utilized by elders, families with an elder involved, and families with no elder involved. The term has been coined to distinguish these mediations from "Family Law or Divorce" mediations. What type of problems fall into this category? In the "Elder" type are: Guardianships; Inter-generational issues; Advance Directives and Powers of Attorney; Estate Planning and all other family issues involving either an elder or elders and others. The "Adult Family" type might involve sibling disputes or rivalries, post-death problems or any other family problems that do not necessarily involve an elder.

The Rhode Island Mediator's Association is hosting a seminar regarding this type of mediation on April 18, 2012. Crystal Thorpe, a mediator and co-founder of Elder Decisions, in MA will describe the landscape of Elder and Adult Family Mediation and how it differs from other types of mediation. She will share her insights on why families come to mediation, who should be at the table, and the model her firm employs to serve clients. Jeremy Howe and Nancy Johnson-Gallagher (co-mediators at Partners In Mediation in RI) will also share their individual and joint perspective(s) on elder mediation in the Ocean State. Jeremy is an Elder Law Attorney and Nancy has extensive experience working with elders. This program will include a discussion of cases and it will highlight some of the challenges and benefits of this new area of mediation. If you are interested in attending please visit http://www.rimediators.org

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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.

Friday, March 9, 2012

Medicare Beneficiaries: Make Sure Your Equipment Supplier Works With Medicare

Attention Medicare Beneficiaries

Read original HERE

In October, Medicare beneficiary David P. (not his real name), was shocked to see a charge of more than $1,000 on his credit card statement. The charge was for the complete cost of renting a machine he needed to help him recover from knee replacement surgery. The equipment is covered by Medicare, so Mr. P. thought he would be responsible only for his 20 percent co-payment.
But it turns out that the equipment supplier who rented him the machine never informed him that it is not a registered Medicare provider and that therefore Mr. P. may be responsible for the full cost of the rental.

"It is a problem that beneficiaries often do not know that they are using a non-participating supplier," says Alfred J. Chiplin, Senior Policy Attorney at the Center for Medicare Advocacy and co-author of The Medicare Handbook (Wolters Kluwer).

The good news is that Chiplin says a new Medicare program that has been launched in a few areas of the country will keep people like Mr. P. from unwittingly being liable for the full cost of such "durable medical equipment (DME)," which includes oxygen equipment, wheelchairs, walkers, and similar devices.

In the few areas of the country with the new program, which is called the “Medicare DMEPOS Competitive Bidding Program,” Medicare beneficiaries who expect any reimbursement may rent or buy certain durable medical equipment, prosthetics, orthotics, and supplies (DMEPOS) only from suppliers who contract with Medicare. In addition, non-contracting suppliers are required to tell Medicare beneficiaries that they don't work with Medicare and the beneficiaries must sign a waiver form stating they are aware of this. If the supplier fails to do this, the beneficiary is not liable for the charge.

Chiplin told ElderLawAnswers that equipment suppliers in the DMEPOS program areas are getting better at providing Medicare beneficiaries with the required notice that they are not contracting providers, and he says Medicare is stepping up its fraud and sanctions activity. (For more on the DMEPOS program, click here. To see if your zip code is in a coverage area, click here.)
Seek Medicare Reimbursement Anyway

But in the vast majority of the country not currently covered by the DMEPOS program, it is unclear whether suppliers who don't work with Medicare are under any obligation to alert Medicare beneficiaries of this fact. The best defense, then, is for beneficiaries to always make certain the supplier has a relationship with Medicare – something Mr. P. had no idea he should do.
If you are caught in the situation Mr. P. found himself in, you can submit your bill from the supplier and seek as much reimbursement as you can get, Chiplin says. (Mr. P. is still awaiting word from Medicare.)

"Once the DMEPOS program is fully implemented, beneficiaries should experience a greater reduction in DME out-of-pocket expenses as they will be required to use certified and registered DMEPOS providers in order to obtain Medicare-covered items," Chiplin says.
"It’s always best for beneficiaries to use certified suppliers and those who are Medicare participating suppliers," Chiplin counsels.

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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.

Wednesday, March 7, 2012

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

Friday, March 2, 2012

Medicare Part D Alternative

I came across this note that might be of interest to our clients and friends who have or could qualify for Medicare Part D. The Medicare options are confusing, little known, and difficult to navigate. Robin Smith can help!

The blurb below is from Robin's monthly newsletter at Robin G Smith Consulting. Insurance Advice and Advocacy for Seniors. Call them at 888-363-3914 Or Email her at robin.g.smith@att.net

As announced last month, I now offer a “credible coverage” alternative to a stand alone Prescription Drug (Part D) plan. If you know a senior who is spending over $5K/year out of pocket DESPITE having a Part D plan, I might be able to save them several thousand dollars a year. What kind of client spends that much? A patient with a chronic disease (MS, ALS, certain cancers, etc.) may be spending many thousands, even in the catastrophic coverage phase. I may have an alternative, so have them call me for a cost comparison.
- Robin

Please call our office for more information about Robin, or if we can help you, your family members or friends with long term care planning, estate planning, or other elder law and care issues. 401-841-5700.

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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.