Planning for Life

Little-Known Social Security Benefit for Parents of Disabled Children

Posted by Harry S. Margolis on May 17, 2016

By Harry S. Margolis

One of our clients recently brought to our attention a Social Security benefit that was news to us. He and his wife care for their adult daughter with a disability in their home. Our client retired and began receiving Social Security benefits. As a result, his daughter was able to drop her Supplemental Security Income and switch over to Social Security Disability Income (SSDI), a much better benefit for a number of reasons.

Read More

Topics: social security, disability

See the US Population Age Before Your Eyes

Posted by Harry S. Margolis on May 10, 2016

By Harry S. Margolis

Check out the dynamic graph below that represents the US age distribution from 1933 to 2100. It starts as a narrow pyramid with a relatively even age distribution narrowing as it gets to older ages. Then it takes on an arrowhead shape as the dearth of births during the Depression begins to work its way up through the ages.

Read More

Topics: growth of elderly population

Bowie Yes, Prince No: More Lessons from Celebrity Estates

Posted by Harry S. Margolis on May 3, 2016

By Harry S. Margolis

Read More

Topics: Estate Planning

The Future of Law According to LegalZoom

Posted by Harry S. Margolis on April 26, 2016

By Harry S. Margolis

I recently heard Chas Rampenthal, the general counsel of LegalZoom, the legal forms site, speak at Suffolk University Law School on how the practice of law needs to be modernized and made more efficient, accessible and affordable. He joined many commentators, most notably Richard Susskind who wrote The End of Lawyers?, in describing the practice of law as being behind the times, lawyers crafting single solutions for individual clients, which by its nature is expensive and inefficient.

Read More

Topics: Legal profession

Expanded Estate Recovery NOT included in House Committee on Ways and Means FY 2017 Budget Recommendations

Posted by Elizabeth Stepakoff on April 26, 2016

By Patricia C. D'Agostino

We are happy to report that the House Committee on Ways and Means did not include Governor Baker’s proposal to expand Medicaid estate recovery. As previously reported, the Governor’s proposed provisions would allow MassHealth to make claims against all property in which the deceased MassHealth member had an ownership interest immediately prior to death. This would include property passing by survivorship or beneficiary designation to a spouse or child that was held in joint names, life estate, tenants by the entirety or living trusts. Current law limits estate recovery to the probate estate of a deceased MassHealth member – meaning the Commonwealth could recover if the deceased member owned their home in his or her name alone.

Read More

Topics: Massachusetts, MassHealth

The Caregiver's Path to Compassionate Decision Making

Posted by Harry S. Margolis on April 19, 2016

By Harry S. Margolis

Caring for others who are physically or mentally incapable of taking care of themselves is a daunting task. On top of the physical and emotional strain, making personal and health care decisions for another person in circumstances that you haven't discussed in advance compounds the burden.

Read More

Topics: caregiving

Favorable Decision from Appeals Court on Irrevocable Trusts

Posted by Elizabeth Stepakoff on April 19, 2016

By Sarah Foster

Read More

Topics: trusts, MassHealth planning, MassHealth

At What Age Should You Do Long-Term Care Planning?

Posted by Harry S. Margolis on April 12, 2016

By Harry S. Margolis

Read More

Topics: long-term care planning, long-term care insurance, MassHealth

Another Trust Bites the Dust, or Why You Should Review Your Plan Periodically

Posted by Harry S. Margolis on April 5, 2016

By Harry S. Margolis

Read More

Topics: trusts, MassHealth planning, long-term care planning, MassHealth

EXPANDED ESTATE RECOVERY – We Need Your Help By 4/7/16!

Posted by Patricia C. D'Agostino on March 31, 2016

CALL TO ACTION:  This is a call to action to our clients and readers who own their homes jointly with their spouses or with another individual and those who have created life estate deeds.

Read More

Topics: MassHealth, Estate Planning

Subscribe to New Blog Posts