Elderlaw News September 2012
- Five Topics to Discuss With Your Spouse Before You Retire
- Legal DIY Web Sites Are No Match for a Pro, Consumer Reports Concludes
- IRS to Crack Down on IRA Tax Rules
- Medicare’s Observation Policy Comes Under Scrutiny
Welcome to our E-Newsletter
ElderLaw News is a monthly e-newsletter that brings you reports of legal developments and other trends of vital interest to seniors and their advocates. This newsletter is brought to you by Julian Gray Associates.
You may have a vision for your retirement, but does your spouse share that vision? A recent study found that spouses often disagree about many key retirement details. It is important to work together to come up with a plan you both can accept.
After road testing three leading Web sites that help you create your own will, power of attorney, and other important legal documents, Consumer Reports has concluded that none of the will-writing products is likely to entirely meet your needs unless those needs are extremely simple.
If you have an individual retirement account, now is the time to make sure you have been complying with tax rules. The Internal Revenue Service is going to start cracking down on individual retirement accounts in an effort to collect penalties from taxpayers who do not follow rules regarding maximum contributions and minimum distributions.
Seniors are often unexpectedly required to pay for nursing home care following a hospitalization because they were considered to be under “observation” in the hospital, rather than an inpatient. Medicare is launching a pilot program to determine whether relaxing its payment rules can help patients who require nursing home care after a hospital stay and then are charged thousands of dollars. The new program may make it easier for hospitals to label patients as inpatients.