Many Americans probably converted to a Roth IRA to take advantage of the tax-free growth without the requirement of minimum distributions after one reaches 70 ½ years of age. Of course, one of the requirements is to take income taxes on the amount converted. So, for...
Although many older drivers actually have a better safety rating than younger drivers, it is a common concern that a parent might endanger himself or herself as well as others if the keys to the car are not taken. People are living longer – so...
A new scheme has been uncovered that preys on seniors receiving Social Security as they may receive an email that looks like it is from Social Security and the subject line says “Get Protected”. The email refers to a new Congressional Act called S.A.F.E. Act of...
Although most think of outlandish cases when giving or caring for a pet such as when Leona Helmsley left $12 million (which the court subsequently reduced to $2 million) of her $4.8 billion estate in a pet care trust for her dog “Trouble”, there are...
The Congressional Budget Office recently reported that spending on programs such as Medicare and Medicaid, including the additional subsidies resulting from the Affordable Care Act (Obamacare), has resulted in exceeding Social Security spending for the first time in history. A total of $936 billion was...
On January 8, 2016, the “Veterans Care Financial Protection Act of 2016” was introduced allegedly to protect individuals who are eligible for increased pension under laws administered by the Secretary of Veterans Affairs on the basis of need of regular aid and attendance from “dishonest,...
At the present time, most nursing homes require residents or their “responsible party” to sign a nursing home admission agreement which binds the resident to arbitration instead of giving them the right to sue the facility if the facility is either negligent or is in...
A Pennsylvania court recently ruled that a man who had adopted his same sex partner as his son in 2012, cannot annul his adoption so that he could marry his partner (adopted son). Prior to the U.S. Supreme Court decision which prohibited the ban by states...
Over the past several years, Congress encouraged donors over 70 ½ years of age to give funds from their Individual Retirement Accounts (IRAs) to charities by not subjecting the donor to income taxation which is normally the case when an individual makes a withdrawal from...
In our October 2015 issue of the Texas Elder Law E-Letter, we mentioned the likely passage of the Bipartisan Budget Act of 2015 (the president did sign the bill on November 2) whereby Medicare Part B premiums would be much lower than the astronomical amounts...
