A Missouri couple was recently convicted of several counts of Medicaid fraud and related criminal offenses. Sadly, the story behind the convictions is a perfect example of elder financial exploitation. Preying on one elderly individual, however, wasn’t enough for the couple. As the story explains, the couple abused their position of trust as the owners of a long-term care facility which allowed them to engage in long-term Medicaid fraud. Unfortunately, the government is only able to identify and … [Read more...]
Is an LLC Right for My New Business?
For many people, owning a small business is a dream come true. If you are one of those people, and you have made the decisions to make that dream come true, you have a number of important decisions ahead of you. One of the most important of those decisions is what legal structure to choose for your business. The type of legal entity you choose for your business will have a direct impact on things such as your personal liability, the management structure of the business, taxes, and investment … [Read more...]
Illinois Bill Would Ban Anonymous Complaints against Nursing Homes
Making the decision to put a parent in a nursing home is often heart-wrenching. Once the decision has been made though, you will face the difficult task of finding the right nursing home for your parent. Given some of the horror stories you have likely heard or read about, you may be reluctant to trust any facility with your parent’s care. Your concern is certainly justified given the number of complaints and violations nursing homes get each year across the United States. If a bill introduced … [Read more...]
Survey Says Millionaires Are Leaving their Wealth to Kids, Not Charity
When you die, all of your estate assets must be transferred out of your estate to another person or entity. For the average decedent, this typically means transferring assets to the next generation; however, what do the wealthy do with their money when they die? Are they all like Bill Gates who plans to leave the vast majority of his fortune to charity? A recent survey seems to indicate that Gates is the exception to the rule. In fact, it appears that the wealthy are leaving their wealth to kids … [Read more...]
Ten Things You Should Know about Alzheimer ’s Disease
Although the average American is living almost twice as long today as was the case just a century ago thanks to advances in science and medicine, we have yet to figure out how to stop the natural aging process. As a result, living longer often means living longer with physical and/or mental deterioration. Alzheimer’s disease, in particular, has increased dramatically in prevalence in the United States over the last several decades, meaning the odds are extremely high that you, or someone close … [Read more...]
Mistakes to Avoid When Drafting a Power of Attorney
A power of attorney is one of the most commonly used legal documents because of the flexibility a POA offers and the variety of functions it can serve. The odds are good, therefore, that you will execute a POA at some point during your lifetime for one reason or another. A power of attorney is based on a fairly simple legal agreement whereby you, as the “Principal”, grant authority to another person, the “Agent”, to act on your behalf in legal matters. Although a POA is a rather simple document … [Read more...]
Do I Work with You Or a Paralegal?
Unless you have had a reason to work closely with an attorney during your lifetime you are likely unfamiliar with the customs and procedures typically used by a law office. This can lead to concern and confusion. For example, clients are often confused when they receive correspondence from a paralegal or when they are transferred to a paralegal upon calling the office. Although no two attorneys operate exactly the same way, there are some common practices with regard to the use of paralegals in … [Read more...]
How Does a Power of Attorney Terminate?
A power of attorney is an incredibly flexible and potentially useful estate planning tool. Understanding what one is, how it works, and how one terminates may help you decide whether including a power of attorney in your estate plan is right for you. A power of attorney is a legal document wherein you (the “Principal”) give another person (the “agent”) authority to act on your behalf in legal matters. The extent of the authority you convey on the agent is up to you. A general power or attorney … [Read more...]
Early Signs of Dementia – Is It Too Late for Medicaid Planning?
Though we are all living longer, on average, in the United States, the increased life expectancy often comes at a high cost. Studies tell us that once you reach the age of 65 your chance of needing long-term care is about 50 percent. By age 80, three in four people will eventually need long-term care. Often, this is the result of an age related dementia disease such as Alzheimer’s. Because neither Medicare nor most private health insurance companies cover the often exorbitant costs of long-term … [Read more...]
To Qualify for Medicaid Can’t I Just Add My Son/Daughter’s Name to the Title to My Home?
Unless you have been a Medicaid recipient before you may know very little about the program. Moreover you may assume that you will never need to know much about the program because you will never need Medicaid benefits. The reality, however, is that more and more older Americans are relying on Medicaid to pay the high cost of long-term care in America, meaning that there is a good chance you will need to qualify for Medicaid at some point down the road. If you do find yourself in need of … [Read more...]
