Elderlaw News September 2011
- How Will the Debt-Limit Deal Affect Seniors?
- IRAs Require Special Consideration in Estate Planning
- Book Review: Fat Cats & Lucky Dogs
- Amy Winehouse’s Death Illustrates the Importance of a Will
- Medicare Fraud Costs Billions: Here’s How You Can Help
To Clients, Colleagues, and Friends:
Frank A. Petrich, CELA, recently participated as a panelist on WQED Television on a program entitled: “End of Life: Discussions on Dying & Dignity”, where participants discussed how to achieve quality end of life care. Follow the link below to view the program in its entirety: http://www.wqed.org/tv/watch/series/specials/2011-05-19/
Congress has agreed to allow the debt ceiling to be raised in exchange for $2.4 trillion in budget cuts over 10 years. How this deal will affect the three major programs crucial to the elderly — Medicare, Medicaid and Social Security — may not be known until almost year’s end, but the impact could be significant.
Individual Retirement Accounts (IRAs) are a popular investment tool for retirement, but they also need to be taken into account when doing estate planning. Although IRAs can be used to provide for heirs either directly or through a trust, how much your heirs will benefit from the IRA and avoid unnecessary taxes depends on proper planning.
For many people, their pets are members of the family that need to be taken care of if the pet owner dies before the pet. This book explains how to include a pet in an estate plan. It’s a welcome publication for the nation’s pets and a good, information-packed read for their human companions.
Amy Winehouse had many ups and downs during her short life, but it appears the troubled singer/songwriter had the foresight to leave behind an up-to-date and ironclad estate plan. Winehouse’s tragic death at age 27 illustrates why you are never too young for a will.
Medicare fraud is often in the news, but what is it, exactly? Fraud costs Medicare an estimated $60 billion a year and contributes to the rising cost of health care for all Americans. Once you understand what is involved, you can help prevent fraud.