Category: Video

Opioids and Elder Abuse

The Centers for Disease Control calls the Opioid addiction epidemic *the* public health crisis of our time.

But the crisis also has serious *financial* ramifications.

In fact, a national study shows the Opioid epidemic is contributing to a significant rise in elder *financial* abuse.

Of special concern is the increasing number of older adults being exploited by people, including family members, looking for a way to finance their habit.

Researchers at Virginia Tech recently posted a blog about a case study in which a grandson stole $85,000 from his grandfather to support his heroin addiction.

The grandfather suffered from dementia.

After draining the finances addicts may also begin to physically and psychologically abuse the elderly victim, isolating them from anyone who might help.

If you or someone you love sees sign of this type of abuse, call Elder Law Attorney, Anne Desormier-Cartwright.

Elder and Estate Planning attorneys PA is a law office small enough to provide personal service large enough to handle all your estate and planning needs.

Seven Signs of Elder Abuse

It’s not uncommon to open a newspaper or turn on the TV and see a story about seniors being mistreated.

Just this month, Marvel Comics legend, Stan Lee’s former manager pleaded not guilty to charges of elder abuse .

Elder Lawyer Anne Desormier-Cartwright says: It’s not just about physical violence, there are seven kinds of elder abuse to be aware of.

“Physical, emotional, and sexual abuse, plus confinement, passive and willful neglect, as well as financial exploitation, are all forms of elder abuse. Understanding that elder abuse exists is just the first step and one of the most important areas to focus on is education.”

If you’d like more information about how you can protect your family members, the guidance of an experienced elder law attorney can provide not only protection, but justice, if your love one has been victimized.

Elder & Estate Planning Attorneys, PA is a law office small enough to provide personal service but large enough to handle all of your estate and planning needs.

Medicare Part D – What You Need To Know

If you’ve reached the point in your life that you’re insured by Medicare, you’re not alone. Tens of millions of American seniors also rely on Medicare to help pay for their healthcare needs, such as hospital care and outpatient medical services. But you may still be wondering if your prescription drugs will be covered. As of 2017, more than 42,000,000 Medicare beneficiaries had prescription drug coverage through Medicare part D, which is optional.

Anne’ Desormier-Cartwright of Elder and Estate Planning Attorneys PA, offer some insight. Medicare part C, is an alternative to original Medicare, as it allows program beneficiaries to receive their Medicare benefits through a private health insurance plan. But you may need to purchase a stand-alone drug plan if your specific Medicare Advantage Plan doesn’t include prescription drugs.

Medicare part D, pays for outpatient drug expenses. Each approved part D plan covers different drugs and co-pays for brand name and generic covered drugs. One way to get the Medicare part D enrollment process started, is to call 1-800-MEDICARE to locate prescription drug plans in your area.

There are other ways. To find out more, an elder law attorney can help with this matter and more. Elder and Estate Planning Attorneys, PA, is a law office small enough to provide personal service, but large enough to handle all of your estate and planning needs. Do not wait to contact their office for support.

Make a New Year’s Resolution to Update Your Estate Plan

As another year comes to a close and a new one begins, it’s a great time to take stock of the many changes life has brought your way and what’s to come. It’s also a good time to think about your estate plan. Many people review their estate plan at a regular frequency, often when they go over their whole financial plan. Anne Desormier-Cartwright of Elder and Estate Planning Attorneys, PA says ‘In addition to regular reviews, it’s a good idea to review and update your plan at life events, like the birth of a child, when a child or grandchild becomes an adult or when they go to college, if you have to care for an adult, if there are changes in your financial goals, illness or disability of your spouse. And of course, marriage or divorce.’

She continues to say that there are many others reasons and that reviewing your plan goes beyond major life events. She suggests you should check your plan at regular intervals, such as a new year. This will help ensure that your legacy, both financial and otherwise, is passed on in accordance with your wishes and that your beneficiaries receive their benefits as smoothly as possible.

Elder and Estate Planning Attorneys, PA is a law office small enough to provide personal service but large enough to handle all of your estate and planning needs. Do not wait to contact their office for support.

The New Federal Tax Law Offers Plenty of Reasons to Update Your Estate Plan

“When Congress passed the Tax Cuts and Jobs Act, lawmakers included a huge increase in the federal estate tax exemption., which now stands at $11.2 million through 2025, with adjustments for inflation. You may think because you don’t have that much money, you can put your estate planning on the back burner.

Anne Desormier Cartwright of Elder & Estate Planning Attorneys PA says that could be a mistake:

“”First, it’s always a good idea to review your estate plan, regardless of whether federal or state tax laws change. A marriage, a death in the family, or the birth of a grandchild are just a few other reasons to revamp your plan, not to mention if you’ve changed your mind since you last addressed your estate documents.””

There is no better time to get started than the beginning of a new year to update your plans with a trusted estate planning attorney. It’s critically important to craft legally sound paperwork to ensure your final wishes are followed, and your loved ones are supported through your lifelong work.

Elder and Estate Planning Attorneys PA is a law office small enough to provide personal service but large enough to handle all of your estate and planning needs. They are here to help you and your loved ones both now and in the future. Do not wait to contact them with your questions.”

Should Your Parents Pay You For Being Their Caregivers?

“They spent their lives taking care of you. Now it’s your turn to take care of your aging parents as they need assistance with daily tasks. It’s either you or outsourcing to outside caregivers or nursing homes, which can be expensive.

So what if you provide care for your parents and they pay you instead?

Anne Desormier Cartwright of Elder & Estate Planning Attorneys PA says:
“”In some instances, the IRS considers a paid family caregiver an employee because the elder parent tells them what to do and then pays them for their work, similar to any job. Accordingly, the elder parent, or the family member, can then be responsible for a variety of taxes depending on the amount of wages paid.””

In Florida specifically, a personal services agreement may need to be entered into between the aging parents and the adult child. With the help of an experienced elder law attorney, this contract can prevent any amount of money being paid to the child to later be seen as a gift should the parents need to apply for public benefits programs such as Medicaid.

Elder and Estate Planning Attorneys PA is a law office small enough to provide personal service but large enough to handle all of your estate and planning needs. Do not wait to contact their office for support.”

How a family gifting trust can help shelter wealth and avoid taxes

There’s an old saying it’s better to give than receive, but did you know there’s a way to continue giving to your family even after you’re gone? A family gifting trust gives you the ability to shelter wealth over multiple generations while providing tax avoidance. The trust protects your assets from the ever changing estate and gift tax laws.

It also protects your wealth from risk created by your divorce, actions taken against your will by in-laws, an heirs divorce, or a deceased heir’s spouse who elects to take action against the heir’s will says Anne’ Desormier-Cartwright.

The family gifting trust takes advantage of annual gifting tax laws to distribute your wealth among many family members during your lifetime. After your death, the trust distributes wealth on a preferential basis to beneficiary groups. Elder and Estate planning attorneys PA is a law office small enough to provide personal service but large enough to handle all of your estate and planning needs.

A basic estate plan typically starts with a Revocable Living Trust

To paraphrase, Ben Franklin said it best. In this world, nothing is certain except death and taxes. Since death is inevitable, it is something we must prepare for. A basic estate plan typically starts with a revocable living trust. A revocable living trust is one of the best methods for protecting assets for your loved ones both during and after your lifetime. Such trusts do not go through probate court, transferring assets seamlessly with minimal effect from estate and administrative taxes, fees, and regulations, both state and federal, says Anne Desormier-Cartwright of Elder and Estate Planning Attorneys PA.

The advantages of a revocable living trust are you eliminate the high cost associated with probate, assets are distributed more quickly, your affairs remain private, and there is no estate tax return to be filed at your death. Elder and Estate Planning Attorneys PA is a law office small enough to provide personal service, but large enough to handle all of your estate and planning needs.

How a Charitable Lead Trust may help in building your estate plan.

When planning your estate plan and deciding how best to protect your wealth from taxes you should consider the Charitable Lead Trust

The trust is useful for philanthropic endeavors, where charitable gifts are periodically given. Generally, a gift occurs upon creation of the trust and a significant income tax deduction is available in the year the trust is created, with the unused portion carried forward for five years in some cases.

“The Charitable Lead Trust also enhances your ability to transfer wealth to your children and grandchildren without incurring a gift or estate tax.” says Anne Desormier-Cartwright, of Elder and Estate Planning Attorneys, PA.

Control of the principal investment assets may be retained, and the trust may be created before or at death.

Elder and Estate Planning Attorneys PA is a law office small enough to provide personal service but large enough to handle all of your estate and planning needs.

Why estate planning is the most important gift you can give to your family.

The holidays are a great time to make a list of what you’re grateful for. More than likely, family is at the top of the list. It can be frightening to consider how your loved ones will fare after you’re gone, but a sound estate plan can provide a sense of security your family deserves.

“Estate planning reduces the costs associated with Guardianship and probate, preserving available tax exemptions. When appropriate, it provides an umbrella of wealth protection for your surviving spouse, children and grandchildren. It is an ongoing process that allows you to change, add, and cancel details at will.” says Anne Desormier Cartwright of Elder and Estate Planning Attorneys, PA..

When you’re exchanging gifts with family this holiday season, start thinking about how to plan your estate. It could be the most important gift your family will ever get from you.

Elder and Estate Planning Attorneys PA is a law office small enough to provide personal service but large enough to handle all of your estate and planning needs.