Q. I read in USA Today about an 83-year-old man who hid $1.1 million in offshore accounts to avoid paying taxes. I have also read about others who attempt to hide their assets to qualify for Medicaid, as a way to pay for long-term care. Isn’t it wrong and unlawful to hide assets in order […]
Helping Seniors and Veterans from Going Hungry
After working for decades and raising four children without government assistance, Carol found herself asking for help feeding herself and her husband, Richard. Faced with health problems that prevent them from working, Carol and Richard struggle to get by on their monthly Social Security check. And like millions of seniors today, by the time they […]
Evan Farr is Named to the 2015 Best Lawyers List
FOR IMMEDIATE RELEASE Evan Farr, Principal Attorney at Farr Law Firm, P.C. is Selected for Inclusion in 2015 Best Lawyers in America and 2015 Washington D.C.’s Best Lawyers Fairfax, VA – August 18, 2014 – Certified Elder Law Attorney Evan H. Farr of Farr Law Firm, P.C. (https://www.farrlawfirm.com), has been selected by his peers for […]
Overcoming Loneliness and Depression
Rest in Peace Robin Williams Q. I was absolutely devastated to hear about Comedian Robin Williams’ suicide. My family is still in shock. I have an uncle who has suffered bouts of depression over the years, and I worry about him frequently, especially since my aunt died last year and now my uncle lives alone. […]
New Technology to Age-in-Place
Currently, there are 75 million baby boomers (those born between 1946 and 1964). And, according to AARP research, more than 80% of them want to age-in-place as they get older. But how can they do so if they need family members—who most often don’t live with them—to monitor their medication and vital signs, and ensure that they’re eating, dressing, and using the bathroom? A major new wave of […]
Common Misconceptions about Revocable Trusts
Recently, CNBC posted an article on their Website about the benefits of trusts, entitled “Heir Tight: The Do’s and Don’ts of Creating Rock-Solid Trusts.” The article provides some very good information about why most people should have a trust; however, there are some misconceptions when it comes to Revocable Living Trusts and what they protect […]
A Mixed Bag in Virginia: Federal Law Prohibits 2011 Social Security Increases, but Federal Agency Grants Millions to Disadvantaged Groups
As Halloween approaches this year, I can’t help but draw an analogy between the nights I spent meandering my neighborhood as a kid looking for handouts, and our current economic times. I recall my grade-school friends and I operating our minds at their collective capacities, as we planned the best streets to target and the best […]
Huge Problem with Reverse Mortgage Industry
I have always praised the use of Reverse Mortgages as a way for seniors to pay for Home Care so they don’t need to leave their home and move into a long-term care facility. See, for example, my January 30th, 2010 blog posting on this subject at: http://blog.virginiaelderlaw.com/2010/01/using-reverse-mortgages-to-pay-for-home-care/ Now I’m Troubled. Unfortunately, I must now retract my […]
Survey Shows Some Nursing Homes May Bill For Services Not Provided
A recent Washington Post article concludes that many nursing homes have been “up-coding” billing for care of residents for years, meaning that some nursing homes sometimes bill a resident more than they should be billed by using a special billing category intended to be used only for the five percent of nursing home patients who need highly […]
Health Reform: Changes in Store for the Elderly
After a year of legislative wrangling and premature forecasts of death, historic legislation overhauling the nation’s health insurance system passed the Congress and has been signed into law by President Obama. Among some of the highlights, this legislation contains: The nation’s first publicly funded national long-term care insurance program, the Community Living Assistance Services and […]
New Medical Conditions — Including Early-Onset Alzheimer’s Disease — Now Qualify for Automatic Disability Benefits
Social Security Disability (SSD) benefits are paid to individuals who, after having worked for many years, develop a disabling condition, prior to their normal retirement age, that is so severe that they are no longer able to work. Applicants for Social Security disability benefits often have to wait months, and sometimes years, for approval from the government, […]
Upcoming Seminars for Lawyers and Clients
I’m conducting two seminars this week on the topic of Income Only Trusts. The first one is a teleseminar for attorneys around the country who are members of the professional group ElderLawAnswers. Entitled Using Income Only Trusts for Medicaid (and General) Asset Protection, this teleseminar is Thursday, Feb. 11, at 2pm Eastern. If you’re a member of ElderLawAnswers, you […]
Using a Reverse Mortgage to Pay for Home Care
Many of my clients ask me how I feel about reverse mortgages, and even more so this past week because of a favorable story that appeared in last week’s Washington Post entitled “Reverse Mortgages are Not the Next Subprime.” This excellent article was written by the “Mortgage Professor,” a Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania (incdientally, my Alma Mater), and clears up much of the confusion and myths and fears surrounding the reverse mortgage. I encourage all of you to read it.
Major Change in Estate Tax and Capital Gains Tax for 2010
Because of a Congressional failure to act before the end of 2009, there’s good news and bad news to report on the Estate Planning and Elder Law front. The good news is there’s no Estate Tax if you die this year. The bad news is you may owe significant capital gains taxes if a loved […]
Important Elder Law and Estate Planning Numbers for 2010
Under current law, there will be no cost-of-living adjustment (COLA) in Social Security in 2010 — the first time that has happened since automatic cost-of-living adjustments began in 1975. Several bills before Congress would grant a special increase in Social Security payments for 2010. In addition, when no Social Security COLA is provided, Medicare Part […]
Who Was Supposed To Be Watching Grandma?
There is a popular tune played this time of year called “Grandma Got Run Over by A Reindeer” which relates that Grandma — after drinking too much eggnog — went out into the winter cold to get her medication and was run over by a reindeer. The question is . . . “Who was supposed […]
Helping Your Older Parents Stay Happy and Healthy
by Robert Stall MD, Geriatrician If you’re fortunate enough to have one or both parents still living, you may have noticed a role reversal taking place in your relationship. Remember the days when Mom shuttled you to the doctor whenever you were sick? Now, it may be you who’s driving her to her medical appointments. Perhaps […]
Erickson CCRCs Bankruptcy Filing
Did you catch last Sunday’s Washington Post article by David Hilzenrath, about the October bankruptcy filing of Erickson Retirement Communities? My phone has been ringing all week with people concerned about this news, because Erickson is a major developer and manager of Continuing Care Retirement Communities (CCRCs) for senior citizens. In the Washington area, Erickson […]
What Does the Bible Teach us About Estate Planning?
Sorry for the last minute notice, but I just found out that my church, Fairfax United Methodist Church (10300 Stratford Avenue, Fairfax, VA 22030), has space left for a course I’m teaching tomorrow evening entitled What Does the Bible Teach us About Estate Planning?This is a brand-new two part course seminar that I’ve just put together as part of my […]
Evan Farr Teaches Course for Elder Law Attorneys Natonwide
~You Can Sign Up for a Similar Course for Consumers~ Last Thursday, Evan Farr conducted a national, attorney-only teleconference sponsored by the National Business Institute (NBI) on the topic of the Income Only Trust — an asset protection trust which, though very similar to a revocable living trust, when done properly protects assets transferred to […]