- Advance Directives
- Asset Protection
- Business Succession
- Charitable Gift Planning
- Elder Care
- Estate Planning
- Estate Tax
- Financial Planning
- Fraud & Financial Abuse
- Gift Tax
- Health Care
- Income Tax
- Life Insurance
- Living Trusts
- NC Income Tax
- North Carolina Department of Revenue
- Nursing Homes
- Pending Legislation
- Powers of Attorney
- Qualified Plans
- Real Property
- Social Security
- Special Needs Planning
- Tax Fraud
New Larger Tax Deduction for LTC Insurance
Posted on: March 28th, 2016
The unpredictable rises in LTC insurance costs make it difficult for individuals to forecast and plan. However, there are a few tax deductions available. Plus, the IRS recently announced an increase for the federal LTC insurance deduction in the 2016 tax year. ...
Raleigh Now Has #2 Fastest-Growing Senior Population
Posted on: March 25th, 2016
Raleigh now has the second fastest-growing population of seniors in the United States. The growing number of seniors in the Triangle region not only triggers a strain on residential spaces like assisted living facilities, but it also prompts a burgeoning need for elder law discussions....
Why Renting is an Attractive Option for Seniors
Posted on: February 16th, 2016
Older adults now make up a significant share of tenants. Adults ages 45-64 account for 30.2 percent of tenants....
Start Alzheimer's Legal Planning
Posted on: January 20th, 2016
Waiting to develop a legal plan for an aging relative with cognitive decline might result in the elderly person's incapacitation. Then it might be too late for them to execute legal documents independently....
Almost 1 in 4 Caregivers are Millennials
Posted on: January 19th, 2016
New research shows that almost 25 percent of caregivers are Millennials. The research came from a joint study between the National Alliance for Caregiving and the AARP Policy Institute....
5 Mistakes With Long-Term Care Insurance
Posted on: November 24th, 2015
Long-term care (LTC) insurance rates this year were 8.6% higher than the year prior. As rates rise, planning professionals and policy holders take concerted efforts to develop care plans that effectively maximize investments and benefits to prevent the fees for LTC insurance from becoming cost prohibitive. ...
Legal Planning: Greater Costs for Dementia and Alzheimer’s Care
Posted on: November 17th, 2015
End-of-life treatments in particular cost 81 percent more for dementia patients than others. Cognitive impairments such as dementia and Alzheimer’s impose significant care expenses on the aging population....
Elder Care Legal Planning: Non-Financial Costs of Caregiving
Posted on: November 13th, 2015
Opting for a family caregiver might seem financially attractive. However, caregivers often carry financial and non-financial burdens as a result....
Protecting Assets Amidst Rise in Elder Marriage Scams
Posted on: October 14th, 2015
In addition to many tax, Medicare/Medicaid, reverse mortgage, and other financial scams targeting the elderly, another type of fraud is now growing. Marriage scams victimizing the elderly affect men and women fairly equally....
How Aging and Memory Loss Affect Finances
Posted on: September 29th, 2015
Alzheimer’s is known for taking an emotional and psychological toll, both on the person experiencing cognitive decline and on their close family and friends. A senior suffering from memory deficiencies faces several financial risks that can be addressed in advance with an elder law attorney....
Protect an Elderly Relative’s Identity During Life and After
Posted on: September 28th, 2015
Identity theft is not only a concern during one’s lifetime; some fraudulent parties specifically target the identities of the elderly or deceased. Identity theft risks the security of one’s assets and can be costly to resolve....
Cost of Long-Term Care in North Carolina
Posted on: August 21st, 2015
A report released earlier this year shows that North Carolina nursing home costs continue to increase alongside the premiums for long-term care insurance policies. The median cost for a NC private nursing home room is approximately $225.00 per day in 2015....
3 Financial Scams Targeting the Elderly
Posted on: July 7th, 2015
A challenge seniors face is being the target of elder financial abuse. Aside from an unscrupulous family member mismanaging a senior’s assets, third party organizations use underhanded tactics to take advantage of seniors....
How to Plan for Growing LTC Insurance Costs
Posted on: February 24th, 2015
Annual inflation increases all citizens’ costs of living; however, long-term care (LTC) insurance costs rose considerably more than average in the past year. ...
Estate Planning for Healthcare Costs in Retirement
Posted on: November 22nd, 2014
AARP has released a study that estimates caregiving costs for families in the United States will total more than $520 billion annually. This estimate reflects the time and resources devoted by families and not skilled workers; the skilled worker estimate runs over $640 billion. ...
Estate Planning for Unmarried Seniors
Posted on: May 22nd, 2014
Earlier this year the National Survey of Family Growth reported an increase in cohabiting unmarried couples between the ages of 15-44; the trend has grown faster among seniors. ...
North Carolina Elder Care: 2014 Nursing Home Rankings
Posted on: March 11th, 2014
The Centers for Medicare & Medicaid Services released ratings of North Carolina nursing homes, showing 29% of the Triangle’s nursing homes received 5 out of 5 stars. ...
Elder Care Trend: Avoiding Nursing Home Care
Posted on: February 14th, 2014
New reports from The Washington Post show that baby boomers are electing in-home medical care in lieu of nursing home services. From 1990 to 2010, the number of Americans over age 65 living in nursing homes nationally has dropped 2%, according to the Census Bureau. ...
Pending Legislation May Change Veterans Service Pension Benefits
Posted on: January 23rd, 2014
Congress has a few pending law changes that may affect Veterans Service Pension Benefits. Current regulations do not penalize veterans for making gifts or other transfers of their assets any time prior to their application for veterans service pension benefits. ...
Exempt Assets: Retain Medicaid Eligibility
Posted on: October 15th, 2013
Families need every resource available to cover the costs of nursing homes in North Carolina. A senior’s unwise spending or gifting prior to moving into a nursing home could come with a significant price tag....
Finding Elder Care in North Carolina
Posted on: August 16th, 2013
Choosing an assisted living center, nursing home, or home healthcare provider in North Carolina should not be a quick decision. Recent reports show that 1 out of 3 nursing homes nationally have reports of abuse. ...
Are You Legally Required to Care for Elderly Parents?
Posted on: August 7th, 2013
Although federal laws governing a child’s responsibility to care for elderly parents do not currently exist, this matter is addressed on the state level. Over twenty states, including North Carolina, have filial responsibility laws....
Preparing for Early Retirement
Posted on: July 23rd, 2013
Those who plan an early retirement need to take steps to preserve their assets in the face of shrinking resources and ever-increasing costs. ...
Estate Planning Concerns for Adult Children Living With Parents
Posted on: July 16th, 2013
The numbers of individuals living with extended family have only been growing. Our North Carolina estate planning attorneys blogged about estate planning issues of the “Sandwich” generation – the large pool of Americans who are caring for both their children and their aging parents. ...
National Elder Law Month: 3 Factors When Considering Long-Term Care Insurance
Posted on: May 24th, 2013
As part of National Elder Law Month our North Carolina elder law attorneys are providing a series of posts to help educate senior citizens and their caregivers. ...
2013 Changes to NC Medicaid Law
Posted on: May 5th, 2013
Last week House Bill 399 was ratified, creating changes to laws pertaining to Medicaid in North Carolina. The new legislation grants the NC Department of Health and Human Services “all rights available to estate creditors, including the right to qualify as personal representative or collector of an estate.” ...
North Carolina Voting Restrictions Proposed for Mentally Incompetent
Posted on: May 3rd, 2013
A recent North Carolina Senate proposal for the ballots in November of 2014 is an amendment to remove the right to vote in North Carolina for individuals who have been determined incompetent by a court of any state. ...
Disclaiming Inheritances in North Carolina
Posted on: May 1st, 2013
Why would an individual renounce or disclaim an inheritance in North Carolina? An inheritance may not always be expected and it may not be desirable for the beneficiary. Certain assets, like real estate or personal items, may require complicated or expensive maintenance that the beneficiary does not want to manage. ...
Ways to Protect Your Finances: Financial Literacy Month
Posted on: April 9th, 2013
April is Autism Awareness Month, Parkinson’s Awareness Month, and it is also Financial Literacy Month. These three campaigns may at first appear unrelated to each other, but they are interconnected....
The Financial Impact of ‘Gray Divorce’
Posted on: November 5th, 2012
Divorce at any age involves the sensitive matter of splitting assets and debt. For couples who divorce in their senior years (coined a “gray divorce”), not only are a lifetime’s investments subject to division, but the costs of long-term care (LTC) also become an even more important consideration....
Elder Law Resources – NC and Beyond
Posted on: September 22nd, 2012
Wake Forest University’s Law School is well known for its Elder Law Clinic, whose website contains a wealth of resources on elder law issues, including Basic North Carolina Information....
Long-Term Care Partnership Policies – Watch Out for Expanded Medicaid Estate Recovery
Posted on: August 4th, 2012
The Raleigh News & Observer recently commented on the surging insurance rates for long-term care insurance (LTCI) policies in North Carolina, the article for which can be read here....
NC Legislature Examines Elder Abuse
Posted on: March 28th, 2012
The population of elderly persons is rising throughout the country, and North Carolina is no exception. The elderly are particularly vulnerable to abuse by relatives and others – increased awareness and prevention are crucial. ...
Are You Required to Support Your Parents?
Posted on: December 27th, 2011
Much to my surprise, I recently became aware of the following North Carolina law: § 14 326.1. Parents; failure to support. If any person being of full age, and having sufficient income after reasonably providing for his or her own immediate family shall, without reasonable cause, neglect to maintain and support his or her parent or parents, ...
Do you know the 10 Warning Signs of Alzheimer’s Disease?
Posted on: October 21st, 2011
Alzheimer’s disease has really been on my radar these days. Now, I know I’m an elder law attorney, so of course it’s on my radar, but even so, the blips on the radar seem to be coming more frequently lately....
Long-Term Care Planning for Your Senior Life
Posted on: March 9th, 2011
Many senior citizens freely admit that they fear growing older more than they fear death. The prospect of becoming increasingly frail and dependent in a society which worships strength and self-reliance, and of losing family and lifetime friends can understandably make the specter of old age a frightening one. ...
Veterans Victory in the Supreme Court
Posted on: March 4th, 2011
David Henderson was a Korean War veteran. He was discharged from active duty in 1952 due to paranoid schizophrenia. In 1992, the VA gave him a 100% disability rating, and in 2001 (while living in North Carolina) ...
Health Care Reform and Long-Term Care
Posted on: November 17th, 2010
One of the shortfalls of Medicaid for long-term care is that it provides financial assistance primarily for nursing homes, and I don’t need to tell you that most people prefer not to have to go into a nursing home. ...
November 11th is Veterans Day – how are you going to honor our Veterans this year?
Posted on: November 10th, 2010
One way each of us can thank the veterans in our lives is to make sure they are aware of the benefits that they have earned as a result of their service to our country...
Elder Mediation Available in Orange County
Posted on: November 2nd, 2010
The Orange County Dispute Settlement Center, located here in Chapel Hill, is now offering specialized mediation dealing with elder care matters. ...
Helping Elderly Parents in Dealing with the IRS
Posted on: October 20th, 2010
Brian Dooley, CPA in his International Tax Counselor’s Blog, recently authored a helpful post on the use of IRS Form 56, Notice Concerning Fiduciary Relationship, for helping aging parents and others manage any issues that arise with the IRS. ...
Medicare Part D – It’s that time of year again to review your Prescription Drug Plan
Posted on: October 11th, 2010
The Center for Medicare Advocacy, Inc. reminds us that it’s that time of year again to make choices and change your current prescription drug plan....
Long-Term Care Planning: Is a Reverse Mortgage your best option?
Posted on: August 31st, 2010
Recently, I heard a story about a family who used a reverse mortgage. The mother has Alzheimer’s but is in great physical health. The father was in good health and was caring for the mother. ...
On the lighter side – a funny video about growing older
Posted on: August 26th, 2010
Most of what I write about relates to death, disability and taxes, and planning for those things. Pretty heavy stuff. So I’m glad to share this video with you, ...
Video Monitoring for Elders
Posted on: August 24th, 2010
This morning on the way to work I heard an interesting piece on National Public Radio about the use of remote video monitoring of elderly persons. There are also companies that provide less invasive methods of monitoring, such as motion detectors. ...
North Carolina Elder Law Resources
Posted on: August 12th, 2010
Wake Forest University’s School of Law, known state-wide for its Elder Law Clinic program, offers valuable resources on its website, both North Carolina specific and otherwise. ...
NC Needs to do More to Combat Fraud Against the Elderly
Posted on: May 28th, 2009
The North Carolina Center for Public Policy Research just issued a press release with the results of a study indicating that North Carolina needs to do more to protect its senior citizens against fraud. ...
Caring for an Elderly Parent – Letting Go
Posted on: May 22nd, 2009
For those who have been through a similar experience, this poignant article Letting Go of My Father, which details Jonathan Rauch’s struggles in caring for his elderly father, will solicit empathy. ...
Free Webcast on Aging October 30, 2008
Posted on: October 18th, 2008
The National Academy of Elder Law Attorneys (NAELA) will be offering its first ever public Webcast on October 30, 2008. ...
Using a Professional Care Manager
Posted on: October 15th, 2008
Services from care managers should be something that every family takes advantage of, but in reality very few families use them....
Planning to Self-Insure the Risk of Long-Term Care Expenses?
Posted on: September 13th, 2008
Planning for long-term care expenses should be a part of everyone’s estate plan by the time they reach 50. ...
Avoid Probate of Equity Refunds from Continuing Care Communities
Posted on: December 16th, 2007
The Problem: Continuing care retirement communities have been growing in popularity with seniors for years....