Recent Blog Posts
Should Medicare Continue with Expanded Telehealth Access after COVID-19?
“I can’t imagine going back, ” said Seema Verma, administrator of the Centers for Medicare and Medicaid Services, told STAT during a live virtual event. “People recognize the value of this, so it seems like it would not be a good thing to force our beneficiaries to go back to in-person visits.” STAT’s June… Read More »
Quirk in Medicare System’s Observation Status
There’s a troubling quirk in the Medicare system that occurs when older patients are hospitalized and instead of being officially admitted, they are placed on “observation status” reports the article “Caught Paying for Rehab Due to Observation Status? Medicare May Owe You” from The National Law Journal. Observation status originally was meant to serve… Read More »
Elder Financial Abuse Fraud Occurs, When No One’s Watching
The case of Nice vs. U.S. is a dramatic example of what can happen when there are no professionals involved in an elderly person’s finances and one person has the power to make transactions without supervision. In the article “Tax case reveals possible intrafamily fraud” from Financial Planning, a trusted son allegedly decimated his… Read More »
What are the Latest Senior Scams?
While we are concerned about finances and our health with COVID-19, we also must be uber-aware of four points of contact: phone calls, text messages, emails and social media. CNBC’s recent article entitled “Beware these common scams that specifically target seniors” explains that seniors in the U.S. are more apt to be victims of… Read More »
What Should I Keep in My Safety Deposit Box?
A safe deposit box isn’t a smart choice for everything. Kiplinger’s recent article entitled “9 Things You’ll Regret Keeping in a Safe Deposit Box” advises that there are some items you might not want to lock up in your bank, which isn’t open nights, holidays, or weekends. zin this pandemic, hours of operation for… Read More »
What Is a Power of Attorney?
A power of attorney is a legal document that permits an agent or attorney-in-fact to make financial and legal decisions on your behalf, if you are unable to do so. WTOP’s recent article “How to Set Up a Power of Attorney” says that the rules for designating power of attorney vary from state to… Read More »
What’s the Best Way to Make a Life Insurance Claim?
You might get a phone call, a letter or even a text that claims you are the designated beneficiary of their life insurance policy. If and when that happens, request the paperwork. When the person has passed away, it will make the request for the life insurance claim much easier. Forbes’ recent article entitled… Read More »
How Do I Avoid the Three Biggest Estate Planning Mistakes?
After you die, your last will and testament must be approved by the local probate court. The judge will determine if the document is the last will of the deceased, review the inventory of the estate and confirm who will administer the estate proceeds. It’s known as “executing” a will. Wealth Advisor’s recent article… Read More »
How a Charitable Remainder Trust Works
The least popular beneficiary is almost always the federal government. Most people are concerned that their estate will need to pay taxes and do what they can through estate planning to keep federal (and state) estate tax liability to a minimum. However, with federal estate and gift tax exemptions at $11.58 million per person… Read More »
What You Need to Know about Trusts
Some people still think that trusts and estate planning are just for wealthy people. However, that’s simply not true. Many people are good candidates for trusts, used to protect their assets and their families. Trusts can also be used to avoid probate, says the article “Common misconceptions about trusts” from the Rome Sentinel. Who… Read More »