How would you feel if you were to receive a significant inheritance and then find out that the estate administrator had sent you the money by accident? This is the feeling that was experienced by Collinsville, Oklahoma animal shelter founder Susan Babbitt. Out of the blue, she received over $188,000 from the estate of a woman named Mary Kay Thomas. Though she was unaware of any connection between the deceased to Ms. Thomas and her shelter, she was certainly happy to receive the windfall because … [Read more...] about Estate Error Leaves Shelter Owner With Empty Feeling
Pet Trusts Provide Peace of Mind
It's no secret that there are a lot of pet lovers in the United States, and as a senior you can join their ranks with peace of mind by creating a pet trust. It is important for every responsible adult to have an estate plan in place, and you should painstakingly cover all of your bases. At the same time, people live much longer than dogs and cats and most other animals. If you are a relatively young adult and you have family members who would obviously care for your pet if you were to pass … [Read more...] about Pet Trusts Provide Peace of Mind
Manzarek Dies; Legacy Intact
The way that you will be remembered after you pass away is considered to be your legacy. You can keep this in mind when you are making decisions throughout your life, and legacy planning is a very real facet of a comprehensive estate plan. Part of this is keeping your reputation intact as you build a substantial body of work. If your work is something that will continue to exist after you pass away, your legacy will have a particular solidity to it. Such is the case with the recently … [Read more...] about Manzarek Dies; Legacy Intact
Strategies for Effective Communication with Seniors – An Elder Law Today Blog
Strategies for Effective Communication with Seniors by Dedra Jize, OT, CSA Geriatric Care Manager, Litherland, Kennedy & Associates, APC, Attorneys at Law As we age, our senses change and become less acute. Hearing decreases, with one out of every three seniors over the age of 60 experiencing significant hearing loss. In addition, seniors experience changes to vision as the lens may become yellow or opaque. The most common vision problem is Presbyopia (farsightedness), but seniors also may have … [Read more...] about Strategies for Effective Communication with Seniors – An Elder Law Today Blog
Arrests Made in Will Forgery Case
Your first thought when you hear about someone challenging a will may be that the individual presenting the challenge can't accept the decisions of the deceased. Indeed, there are cases where someone feels as though he or she has been treated unfairly. Of course, that in itself does not render a will invalid by any stretch of the imagination. You have a right to leave inheritances as you see fit, and you have a right to disinherit people as you see fit. The above being stated, there are times … [Read more...] about Arrests Made in Will Forgery Case
Prudent Planning Before Remarriage
Estate planning involves confronting some very sensitive topics, but there's no way around it if you are a practical person. With this in mind, let's look at the subject of remarriage, especially if you have children from a previous marriage. Being in love to the extent that you are willing to commit to marriage is obviously a profound feeling. When you are in this state of mind, you may naturally want to open your heart completely and display selfless generosity. At the same time, it is wise … [Read more...] about Prudent Planning Before Remarriage
MetLife: Elder Financial Abuse Losses Equal $2.9 Billion
The MetLife Mature Market Institute took the time to probe the issue of elder financial abuse, and they have found that annual losses are somewhere in the vicinity of $2.9 billion. It is actually quite difficult to determine the length and breadth of this problem because of the fact that it is not out in the open. People tend to keep their financial affairs private, and this plays into the hands of predators. Senior citizens often need help with their day-to-day needs, and as a result people … [Read more...] about MetLife: Elder Financial Abuse Losses Equal $2.9 Billion
Funding 529 Plan Using Annual Exclusion
If you are in possession of assets that exceed the federal estate tax exclusion amount, you may want to take steps to intelligently reduce the taxable value of your estate. One way to accomplish this objective would be to somehow utilize resources while you are still alive for the benefit of those that are on your inheritance list. This is easier said than done because there is a gift tax in place. It is unified with the federal estate tax, and in 2014 there is a $5.34 million unified lifetime … [Read more...] about Funding 529 Plan Using Annual Exclusion
Multimillionaire Died Without Will
When you go through life without a will or some other legal device that arranges for asset transfers, you are surrendering control of where your resources will land after you pass away. There are certain rules that the state must follow, but under some circumstances the state can actually absorb the assets left behind by a resident. The first order of business would be to find out if the deceased had relatives, and in most instances people will step forward. There are intestacy rules of … [Read more...] about Multimillionaire Died Without Will
This Military Benefit Can Defray Assisted Living Costs
The high cost of assisted living is presenting a challenge as people live longer and the population ages. The Medicare program doesn't pay for assisted living on a long-term basis, so you are on your own unless you can qualify for Medi-Cal. If you plan ahead in an effort to secure Medi-Cal eligibility with the assistance of a licensed elder law attorney, you can be sure that you and your family are retaining a maximum store of assets. Those who have served in the military may well have access … [Read more...] about This Military Benefit Can Defray Assisted Living Costs
