ElderLaw News September 2010
- GAO Report Raises Some Concerns About Regulation of Retirement Communities
- Charitable Remainder Trusts: Income for Life and a Good Deed at Death
- Book Review: So Far Away: Twenty Questions for Long-Distance Caregivers
- Study Shows Diversity of Grieving Among Caregivers
- Survey Finds Medicare Doesn’t Work As Well for Younger, Disabled Beneficiaries
To Clients, Colleagues, and Friends:
A report by the Government Accountability Office warns that given the weak economy, Continuing Care Retirement Communities (CCRCs) are facing challenging times. The ability of many CCRC residents to support themselves is inextricably tied to the financial health of their CCRC. While few CCRCs have gone under so far, states vary in how much they help ensure that CCRCs stay solvent or don’t sharply raise monthly fees on residents.
Instead of leaving money to a charity in your will, you can put that money into a charitable remainder trust and collect income while you are still alive. Charitable remainder trusts have many other advantages, including reducing your income and estate taxes and diversifying your assets.
Caregiving can be difficult in any situation, but it is especially hard if you don’t live near your loved one. To help long-distance caregivers, the National Institute on Aging has issued a booklet answering many common questions.
A new study by the University of Michigan reveals that racial and ethnic differences play a role in the emotional attitudes of caregivers of Alzheimer’s patients. These findings could help improve support services for caregivers.
A new survey of nearly 4,000 Medicare beneficiaries has found that those who are younger than 65 receive fewer medical services, have a harder time paying for the medical care that they do receive, and are more likely to feel sad or depressed than older beneficiaries.