Millions of people are affected by some form of dementia. Unfortunately, many of them don’t have all their estate planning affairs in order before the symptoms begin to appear. This is another good reason to speak with an elder law attorney now, rather than putting off such a discussion. However, if someone you know has symptoms of dementia, it might not be too late to sign a will or other estate planning documents. In order for

Most people should sign up for Medicare when they reach 65; if they wait until later, they have to pay a significant penalty when they do sign up. There’s an exception, though, for people who are still employed at age 65 and are covered by a group health plan. These people can delay signing up for Medicare without a penalty. But here’s a common problem: Suppose you’re no longer working when you turn 65, but you’re

Jim Morrison, the lead singer of the popular rock band The Doors, died in 1971 at age 27. Before his death he had signed a simple, one-page will that left everything to his girlfriend, Pamela Courson (or if she died before he did, to his brother and sister). As a result of the will, Pamela inherited his entire estate. Pamela herself died shortly afterward of a heroin overdose. Because Pamela didn’t have a will, most of Morrison’s

Some residents of assisted living facilities who are covered by Medicaid are at risk of being evicted if they leave the facility for a period of time – even if they leave merely for a temporary hospitalization. This is a significant problem that seniors should be aware of when they are planning for long-term care. In general, Medicaid will pay nursing homes to hold a room for a Medicaid recipient who is temporarily absent due to

An 81-year-old woman in Rhode Island was evicted shortly before Christmas from the home she had lived in for more than 40 years – because she failed to pay a $474 sewer bill. A corporation then bought her house at a tax sale for $836.39…and later resold it for $85,000. While this is an extreme case, it’s a symptom of a growing trend. More and more seniors around the country are being forced to pay large,

The average age of people who take out a reverse mortgage is dropping, according to a new study by MetLife. Unfortunately, these types of mortgages come with risks, so younger borrowers need to be careful. Reverse mortgages allow homeowners who are at least 62 years old to borrow money on their house. The homeowner receives a sum of money from the lender, based largely on the value of the house, the age of the borrower, and current

Many people wonder if it’s a good idea to give their home to their children. While it’s possible to do this, giving away a house can have major tax consequences, among other results. When you give anyone (other than a spouse) property valued at more than $13,000 in any one year, you must file a gift tax return. You won’t owe any federal gift taxes if the total value of your gift, in addition to any