Tax Planning | Law Firm Newswire - Part 10

Moorestown, NJ (Law Firm Newswire) August 7, 2013 – New Jersey elder law attorney Thomas D. Begley, Jr., Esq. is speaking as a faculty member in a course co-presented by the Pennsylvania Bar Institute (PBI) on “Irrevocable Trusts: Drafting with the Right Ingredients” on Tuesday, August 27, 2013. Mr. Begley will be discussing irrevocable trusts as part of a powerful estate planning tool for elder law attorneys to help their clients protect their interests. “Irrevocable trusts have previously been utilized as a means to transfer wealth between high net-worth family members,” commented elder law attorney Thomas D. Begley, Jr. “But […]


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White Plains, NY (Law Firm Newswire) August 7, 2013 – Though the diagnosis of Alzheimer’s disease can be distressing, elder care advocates say it is critical to begin advance planning for financial arrangements and health care. Alzheimer’s is a progressive disease of cognitive decline, but it can last for many years. Putting plans into place early can help make a significant difference in how that time can be spent. If someone suspects that there are memory issues or other cognitive concerns, they should see a neurologist, geriatric assessment clinic or memory clinic for testing. If there is a formal diagnosis […]


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Waxahachie, TX (Law Firm Newswire) July 22, 2013 – Statewide, there were close to 60,000 victims of elder abuse, exploitation or neglect in 2012. There are more than 2.4 million Texans age 65 and older. Investigations found that 40 percent of the individuals abusing, neglecting or financially exploiting the elderly were the victims’ adult children. According to Ross Jackson, the regional director for the Texas Department of Family and Protective Services (DFPS) Region 7, many of the cases included neglectful self-care, elderly individuals who were locked inside and unable to get out, and bed-ridden elders who were not properly cared […]


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Moorestown, NJ (Law Firm Newswire) July 19, 2013 – The Begley Law Group elder law, estate planning and special needs trusts attorneys are participating in an Elder Law Day for legal professionals July 24, 2013. “The continued ‘graying’ of the U.S. population means elder law will continue to be a huge growth area for law firms and attorneys who offer comprehensive elder law services,” commented New Jersey elder law attorney Thomas D. Begley, Jr. “Elder Law Day is a one-day crash course which examines the key issues elder law attorneys need to know to best support their clients.” Presented in […]


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Seal Beach, CA (Law Firm Newswire) July 18, 2013 — Attorney Rachel Simon is returning to Seal Beach with a new boutique law firm focusing on tax, business and non-profit entity planning, and estate planning. “The new firm provides an opportunity to offer exceptional legal advice and unrivaled client service at more reasonable rates than those offered by traditional large firms”, said Simon. Ms. Simon was most recently a partner in the Huntington Beach office of Wasson & Simon, LLP, where she advised clients on various business and tax law matters. Her experience includes representing clients in acquisitions, reorganizations, and […]


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White Plains, NY (Law Firm Newswire) July 12, 2013 – The American College of Emergency Physicians (ACEP) has released tips for the adult children of elderly parents who find themselves facing a medical crisis. The emergency room can be a daunting experience. These tips may make the experience slightly less stressful. When possible, the caregiver or accompanying adult should bring a completed Medical History Form to the emergency room. The form should list any allergies, the medications the elderly person is taking, and both past and current medical conditions. This form should be given to the intake attendant. In addition […]


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White Plains, NY (Law Firm Newswire) July 11, 2013 – Bernard A. Krooks, JD, CPA, LLM, CELA, AEP was appointed President Elect of Arc of Westchester’s Board of Directors and Officers for 2013-2014 at the organization’s Annual Meeting. The Arc of Westchester is the largest agency in Westchester County that provides services to people with autism and other developmental disabilities and their families. Krooks is a founding partner of Littman Krooks LLP with offices in New York City, White Plains and Fishkill and is the Chair of its Elder Law and Special Needs Department. He has been included among The […]


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Virginia Beach, VA (Law Firm Newswire) July 11, 2013 – A recent court decision illustrates the potential pitfalls of investing in “alternative” assets with an individual retirement account. Lawrence Peek and Darrell Fleck of Colorado used assets held in their self-directed IRAs to purchase a fire-safety business. In a May 9, 2013 ruling, a judge for the U.S. Tax Court said that the pair’s actions were not allowed and effectively terminated their accounts when they made the transaction. The two now owe taxes amounting to nearly half a million dollars. “IRA funds can be invested in a number of ways […]


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Bloomfield Hills, MI (Law Firm Newswire) July 8, 2013 – A recent study found that there is an increased likelihood of elder abuse when the elder has cognitive decline and their primary caregiver is a family member. In a new study, researchers at the University of Medicine & Dentistry of New Jersey looked at a group of patients with dementia to see if cognitive decline was associated with an increased risk of physical abuse by caregivers. “Elder abuse by caregivers is known to be an underreported issue,” commented Michigan elder law attorney Christopher J. Berry. “It seems that helping caregivers […]


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Waxahachie, TX (Law Firm Newswire) July 8, 2013 – A number of recent health care reforms are pushing health policy advisors to rethink how to meet the growing need for elder health care professionals. Panelists at a senior health care forum in Manhattan recently expressed concern about the future of elder care in the U.S. The symposium, hosted by Jewish Home Life Care and the Himan Brown Charitable Trust, included the health policy professor at the Columbia University Mailman School of Public Health, Dr. John Wallis Rowe, who stated that the number of heath care workers specializing in geriatrics was […]


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Virginia Beach, VA (Law Firm Newswire) July 4, 2013 – A pilot program to reform Medicaid in Virginia was recently approved by federal health care regulators. The three-year program will affect over 78,000 Virginians who are eligible for both Medicaid and Medicare – so-called “dually eligible” individuals. It is a crucial first step in reforms state lawmakers are requiring before they will expand Virginia’s Medicaid program under the Affordable Care Act. “This program affects some of Virginia’s most vulnerable citizens,” said elder law attorney Andrew Hook. “If it can provide them with better access to health care while also creating […]


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Bloomfield Hills, MI (Law Firm Newswire) July 1, 2013 – Some life insurance policyholders are selling their policies to fund long-term care, but at what ultimate cost? Bills in numerous states, including California, Florida, New York, Kentucky, Maine, Louisiana and New Jersey, are allowing elderly residents to sell their life insurance policies to pay for custodial health care. “For anyone concerned about their long-term care, selling off their life insurance is not their only option,” commented Michigan elder law attorney Christopher J. Berry. “Long-term care insurance is designed specifically to ensure that no one needs to borrow from the future, […]


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Waxahachie, TX (Law Firm Newswire) July 1, 2013 – More than 10,000 American baby boomers are turning 65 every day. By the year 2030, 1 in 5 people in the U.S. will be 65 or older. The increase in the elderly population in the U.S. means that more people will be caring for seniors in professional settings, such as nursing homes and assisted living facilities. That also means than many adult children must make difficult decisions for their aging parents, or may be pressed into the role of caregiver. “While having to assess and meet the care needs of elderly […]


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Palo Alto, CA (Law Firm Newswire) June 27, 2013 – Estate planning is widely seen as a smart move for higher income households, but individuals at all income levels may benefit. The close of 2012 was unusually busy for estate planning attorneys as they worked with clients to implement new or updated estate plans in advance of the American Taxpayer Relief Act (ATRA), to be enacted January 2, 2013. The ATRA was expected to reduce gift and estate tax exemptions to $1 million, but it ended up not reducing exemption amounts after all. “Regardless of the amount of your estate, […]


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Bloomfield Hills, MI (Law Firm Newswire) June 25, 2013 – A new study has found that children of long-lived adults show a marked delay when developing dementia or other types of cognitive decline. The study examined the children of individuals with “exceptional longevity,” people who lived 89 years or more. Researchers looked at data gathered from more than 1,850 volunteers located in Denmark, Massachusetts, New York, and Pennsylvania, as well as their spouses, siblings, siblings’ spouses, adult children, and their children’s’ spouses. The children of individuals who lived longer than 89 years were likely to not develop the symptoms of […]


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Waxahachie, TX (Law Firm Newswire) June 25, 2013 – Seniors in Texas are at high risk from Internet scams and financial elder abuse. According to the FBI’s 2012 Internet Crime Report, Texas ranked third in the nation in the number of complaints received about Internet fraud. This type of scam is just one way that thieves can take advantage of seniors. Older people are also at risk for in-person and telephone scams and for theft and fraud by caregivers and other service providers. “It is very important to be aware of the various ways that financial elder abuse can be […]


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Bloomfield Hills, MI (Law Firm Newswire) June 20, 2013 – Too many seniors are being given colonoscopies too often, a new study states. A recent study in the American Medical Association’s JAMA Internal Medicine stated that many seniors report “a strong moral obligation” when it comes to undergoing medical testing, even in their advanced years. But many medical professionals are advising them that the risks that come with screenings such as colonoscopies and other medical procedures may not be worth it. Though all Americans are urged by multiple advocacy groups to begin colorectal cancer screening at age 50, little public […]


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Virginia Beach, VA (Law Firm Newswire) June 19, 2013 – The Department of Veterans Affairs (VA) announced it will expedite decisions on claims more than one year old. In a news release, the VA said that effective immediately, the agency’s claims raters would begin making provisional decisions on the oldest backlogged benefits claims. After a provisional rating has been given to a claim, the veteran will have one year to submit additional evidence before a final decision is issued. “Too many veterans endure very long waits to receive desperately-needed disability benefits,” commented veteran’s attorney Andrew Hook. “Hopefully this initiative will […]


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Palo Alto, CA (Law Firm Newswire) June 19, 2013 – California is planning to try a managed health care system to unify Medicare and Medi-Cal. While dual coverage sounds like a good thing, lower income seniors in California who are eligible for both Medicare and the state’s version of Medicaid, known as Medi-Cal, are facing a serious lack of coordinated care. Medicare, the federal program for seniors, is not designed to work in tandem with Medi-Cal, the federal-state program for low income individuals, the way the state is currently using the system. The ensuing mistakes, delays and administrative issues are […]


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White Plains, NY (Law Firm Newswire) June 7, 2013 – A thorough evacuation plan should be in place in all nursing homes, but that often is not the case. As of 2012, at least 1.4 million U.S. seniors are residing in a nursing home, while more than 3 million people have stayed in a nursing home while recovering from surgery or illness. That is according to a report released by The Centers for Medicare & Medicaid Services (CMS). Of the 15,800 nursing homes throughout the country, there is no general consensus on how many of them have safe, reliable emergency, […]


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