The Problem of the Do it Yourself Will (Part 2)
Last week we were discussing Mary’s call to me about her Uncle Joe’s unsuccessful attempt to execute a will he obtained on the internet. The will was not admitted to probate and Joe had no previous will. So what happens in that case? Without a will Uncle Joe’s estate passes according
The Problem of the Do it Yourself Will
“I can do the will myself. It’s pretty simple and I can get the form online.” I’ve heard that comment more than a few times in my career. Recently, however, I received a call from someone whose family member did just that and created a huge problem. Mary called concerning her
Should a Loved One with Alzheimer’s Continue to Drive?
It’s a troubling question, given the value we put on independence and the love and the dependence we have on motor vehicles. Taking the car keys away can often seem like a death sentence but must be balanced against the safety of other drivers on the road. I’ve had more conversations
Estate Planning Lessons from a Mob Boss (Part 2)
Last week we were discussing Soprano’s actor and New Jersey native James Gandolfini, more specifically his will and estate plan which has been the subject of much comment . Some experts have said he created an estate tax mess for his family. Is that really true? The answer is maybe, maybe
Estate Planning Lessons from a Mob Boss
Estate planning is not a favorite subject for most. Who wants to think about what happens if I die? But, when the rich and famous die, such as Soprano’s actor, James Gandolfini did earlier this summer, it becomes a hot topic, at least for a short while. Gandolfini’s estate is estimated
Lost Assets and Medicaid (Part 2)
Last week we were discussing George’s problem. He was rapidly spending down Mom’s assets and preparing to apply for Medicaid when he discovered that she and Dad owned some stock. He could not, however, locate the physical stock certificates. What to do? We asked George if he could find an account
Lost Assets and Medicaid
What happens if you need to apply for Medicaid and you know there are assets but you can’t locate them? We were working with George to prepare his mother for Medicaid. He was spending down her remaining assets when he discovered some papers that suggested she might own some stock
An Update on Family Responsibility Laws
Two years ago I wrote about family or “filial” responsibility laws. What does the law say about a child’s responsibility to pay for a parent’s care? The population is continuing to age and the problem of long term care isn’t going away so what, if anything, has changed in the
How Mom’s Estate Plan Did More Harm than Good (Part 2)
Last week we were discussing Sue’s call to our office. Her brother, John, is 65 and disabled, living in senior housing. He now needs aides to assist him and she told me his income is $1900. But, then she told me about the trust that Mom had set up for
How Mom’s Estate Plan Did More Harm than Good
Sue called concerning her brother, John, who is 65 and disabled. “He has cerebral palsy”, she told me, “and he is wheelchair bound. He lives in senior housing and needs aides to assist him. Someone told me he is eligible for Medicaid because he has nothing other than his Social