» Elder Law

San Francisco, CA (Law Firm Newswire) November 15, 2016 – Many Americans approaching old age are unsure of their ability to pay for long term care, according to an Associated Press-NORC Center for Public Affairs Research report. Misconceptions persist among the aging adult population about the ways in which long term care will be financed. Around one-third of individuals aged 40 and older have not planned for their future needs, whether it is saving for a nursing home or setting aside funds for in-home care. “Planning for long term care for yourself or a loved one is essential to ensuring […]


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Virginia Beach, VA (Law Firm Newswire) October 28, 2016 – Under Medicaid law, there are certain security measures for the spouses of those applying for Medicaid to make certain they possess the necessary minimum support to reside in the community at a time when their husband or wife is in receipt of long-term care benefits, generally in a nursing home. The spousal protections function in the following way: if the person applying for Medicaid is married, the countable assets of both spouses are combined as of the date on which the ill spouse was admitted to either a hospital or […]


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Fairfax, VA (Law Firm Newswire) October 26, 2016 – Couples approaching retirement age and contemplating divorce, may confront problems regarding ways in which to divide their retirement accounts. The divorce rate is skyrocketing for baby boomers. According to a report by the National Center for Family and Marriage Research, between 1990 and 1994, the divorce rate among adults over age 50 doubled. And the rate tripled for those over age 65 in the same time frame. Recently, a survey conducted by the American Academy of Matrimonial Lawyers found that retirement accounts and pensions were second only to alimony as the […]


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Fairfax, VA (Law Firm Newswire) October 19, 2016 – Many people are of the opinion that if they bequeath money to charity upon their death, there will be a lesser amount left for their family. However, an experienced estate planning attorney is able to create an estate plan that includes charitable bequests and, in several cases, divert funds that are earmarked for the IRS, back to the family and charities that are important to the client. One method of accomplishing this objective is to transfer the funds that were intended to be left to charity, to a charitable remainder trust […]


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Virginia Beach, VA (Law Firm Newswire) September 19, 2016 – In families with adopted children or stepchildren who have not been formally adopted, there can be some estate planning challenges. More attention must be given to estate planning involving a family that consists of an unmarried couple in which one member has children, either biological or adopted, who are not also the children of the other member of the couple. In such a scenario, the couple should have a thorough understanding of their estate planning options. In most cases, adopted children are treated in the same manner as biological children […]


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Virginia Beach, VA (Law Firm Newswire) August 8, 2016 – Among the most significant factors to consider when establishing a business succession plan is the timing of the change of ownership. Whether the owner is planning to sell or make the business a gift, or combine the sale with a gift, the changeover should not occur prior to the identification and development of the next generation of leaders. Several estate planning methods for business succession plans work most effectively in an environment of low interest rates. Usually, when there are lower interest rates, the seller has more chances to finance […]


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Westchester, NY (Law Firm Newswire) June 2, 2016 – The Arc of Westchester’s 2016 Golfing for Kids tournament will be held on June 7th. The golfing outing aims to raise funds for the Arc of Westchester’s Children’s School for Early Development, which provides educational and social support services for children five years old or younger with autism and other special needs, and their families. This year, they are honoring Bernard A. Krooks of Littman Krooks LLP with the Advocate of the Year Award. Mr. Krooks is President of the Board of Directors of the Arc of Westchester, the largest agency […]


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San Francisco, CA (Law Firm Newswire) May 25, 2016 – A new estate planning law that went into effect on January 1 seeks to help California homeowners avoid the costly, time-consuming process of probate when leaving property to heirs. Bill AB139 was signed into law in September 2015 after previous efforts to pass the legislation failed for almost a decade. It introduces the Revocable Transfer on Death Deed (TOD) which allows individuals to transfer property to a beneficiary upon their passing without the need to set up a revocable living trust or sort out matters in probate court. Such deeds […]


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Virginia Beach, VA (Law Firm Newswire) May 16, 2016 – Estate planning clients often ask about the most effective methods of protecting assets from creditors. It is always best to transfer assets prior to the time at which any claims arise. It is too late to make any transfers after there is a creditor issue. If such a transfer is made, it will be considered a fraudulent transfer. Other factors to consider are the following. If the grantor makes a gift to keep an asset from current creditors, but the grantor maintains control over the gift, then the gift may […]


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San Francisco, CA (Law Firm Newswire) May 16, 2016 – A lawsuit filed in November 2015 alleged that the California Department of Health and Human Services has deliberately failed to prevent the illegal practice of nursing homes “dumping” Medi-Cal residents into the hospital system. Nonprofit organization California Advocates for Nursing Home Reform (CANHR) filed the lawsuit in San Francisco, California, on behalf of three nursing home residents covered by Medi-Cal. Medi-Cal is California’s Medicaid program. They alleged nursing homes refuse to readmit Medi-Cal patients after temporary hospitalization in order to make room for more private pay and Medicare patients. “Many individuals […]


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San Francisco, CA (Law Firm Newswire) May 10, 2016 – Michael Gilfix and Mark Gilfix of Gilfix & La Poll Associates, in partnership with Trusts and Estates Magazine, will present an informative seminar titled “The Benefits of Multigenerational Planning” on Wednesday, May 11, 2016, at 2 p.m. ET and 11 a.m. PT. The webinar is free and is available nationwide. The seminar will cover key issues for lawyers engaged in the practice of multigenerational planning. Michael Gilfix and Mark Gilfix will share their experience as a father-son team of estate planning attorneys. Multigenerational planning provides an innovative way for parents, […]


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Harrisburg, PA (Law Firm Newswire) January 29, 2016 – The Internal Revenue Service (IRS) has relaxed its regulations for new accounts that will permit people with disabilities to save money without risking loss of their government benefits. In 2015, the IRS proposed rules governing how accounts created under the Achieve a Better Life Experience (ABLE) would function. However, the agency met with a considerable amount of opposition from disability advocates and state officials who stated that the proposed rules would be unduly onerous. In response, the IRS has issued preliminary guidelines pending release of the final regulations that include less […]


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Virginia Beach, VA (Law Firm Newswire) January 26, 2016 – The majority of individuals who purchase life insurance wish to replace their income should they die prematurely. They can choose a term plan that ends upon retirement. Another option is to pay for retirement by using a permanent life insurance policy, and withdrawing funds from the plan’s cash reserve. However, there are possible drawbacks when using this strategy. According to experts, whole life insurance may not be an appropriate investment vehicle because it is costly and not liquid. “When considering retirement planning, it is important to obtain sound investment advice […]


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Virginia Beach, VA (Law Firm Newswire) January 19, 2016 – When creating a trust fund, parents can select a trustee to be in charge of the funds for as long as the parents wish. One way of structuring inheritance is to have the trustee distribute the funds in three separate amounts. For example, the trustee could give the child one sum upon graduation from college, or at age 22, the second a few years later, and the last at around age 30. The main reason cited by parents for releasing the funds in stages rather than all at once is […]


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Roseville, CA (Law Firm Newswire) January 14, 2016 – Although it is highly unusual for one to serve as health care proxy for one’s boss, that is exactly what will occur in the case of 92-year-old Sumner Redstone, the executive chairman of Viacom Inc. Redstone has designated his Chief Executive Officer, Philippe Dauman, to be his health fiduciary in the event he can no longer make health care decisions for himself. Dauman’s control over Redstone’s health care includes the right to determine whether he should be given food or water if he is unable to make such decisions. Dauman speaks […]


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Harrisburg, PA (Law Firm Newswire) January 13, 2016 – Many veterans who served in the Iraq and Afghanistan wars have suffered traumatic brain injuries (TBIs), but some of them are not being properly diagnosed because of the use of a test by the Department of Veterans Affairs (VA). Consider the case of Army Captain Charles Gatlin, who served as a platoon leader in Kirkuk, Iraq, in 2006. A car bomb detonated in close proximity and he was knocked to the ground by the explosion and struck by flying debris. He was evacuated and later diagnosed with a traumatic brain injury. […]


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Virginia Beach, VA (Law Firm Newswire) January 12, 2016 – While most people would like to live a long life, not everyone is financially prepared for it, especially if long-term care is needed. According to personal finance experts, within each person’s budget, money should be allocated toward a long-term care plan. In this way, an individual can develop a strategy to assist with daily living activities in the event of becoming infirm. Each day ten thousand baby boomers reach the age of 65, and approximately 70 percent of Americans will ultimately require long-term care services. There are important factors to […]


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Santa Clara, CA (Law Firm Newswire) December 18, 2015 – The Pacific Autism Center for Education (PACE) today announced that Michael Gilfix and Mark Gilfix of Gilfix & La Poll, longtime experts in the field of special needs planning, will present an informative and timely seminar on January 25, 2016 at 6pm at the PACE School. The program is open to the community at large. Topics covered will include: – Update on the ABLE Act: a tax favored bank account to supplement Special Needs Trust planning – Five myths or misunderstandings about Special Needs Trusts and asset protection – The […]


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Virginia Beach, VA (Law Firm Newswire) December 18, 2015 – It is generally assumed that student loan debt is a problem faced only by the young. However, that is not always the case. Seniors are increasingly having a difficult time paying off their student loans, even to the point at which their Social Security benefits are offset when they are unable to make payments. According to the Government Accountability Office (GAO), in 2010, four percent of Americans ages 65 to 74 had federal student loan debt. This represents an increase of one percent from the year 2004. The collective amount […]


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Virginia Beach, VA (Law Firm Newswire) December 11, 2015 – When handling one’s estate planning, it is important to prepare the relevant documents and ensure that they can be accessed by trusted family members prior to one’s death. Such documents can include wills, health care directives, and lists containing passwords to online accounts. However, there are other less common items that some family members may need when their loved one dies. One such item is military discharge papers. John J. Scroggin, who manages a tax business and estate planning firm in Atlanta, knew that his father wished to be buried […]


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