Elder Law News

The Senate Democrats proposal for a $3.5 trillion spending plan includes expanding Medicare to provide dental, vision, and hearing benefits. The proposal is now being negotiated in Congress. 

Britney Spears’s struggle to regain control over her business and personal life shines a spotlight on legal guardianship and alternatives that involve less loss of control over one’s life.

Most people want to pass their assets to their children or grandchildren, but naming a minor as a beneficiary can have unintended consequences. It is important to make a plan that doesn’t involve leaving assets directly to a minor.  

My grandfather recently passed away and his will stated that his estate be divided evenly among his grandchildren. Before he died, he named a relative as a joint member of his bank account, in case he ever needed assistance with his finances, which fortunately never happened. Now, the family member — who is also the executor of his will — feels that what was left in the bank account simply transfers to her. Is this the case or are his savings considered part of the estate to be divided among the grandchildren?

Studies have found that workers overestimate how much they will receive in Social Security benefits when they retire. Having a good understanding of the realities can help you plan for retirement. 

While the current estate tax exemption is quite high, a closely held family business may put your estate over the limit. Careful planning is necessary to lower or completely avoid the tax, and minority valuation discounts are one strategy.

The U.S. Supreme Court has agreed to hear a case that has the potential to affect anyone who receives government assistance with their medical care following a disabling injury that results in a lawsuit. 

What legal document should I have my two siblings sign when they move into my mom’s house, rent-free? I may have to sell the house eventually to pay for my mom’s long-term care and will need them to move out. Neither sibling works, and they have been taking money from my mom for years.

Passing assets to your grandchildren can be a great way to ensure their future is provided for, and a generation-skipping trust can help you accomplish this goal while reducing estate taxes and also providing for your children.  

Qualifying for Medicare hardly means free health care — there are still premiums and deductibles. However, people who qualify for both Medicare and Medicaid (called “dual eligibility”) receive help paying their out-of-pocket costs.