Articles Posted in Elder Law

In 2010, John Armstrong, a Mississippi man suffering from severe schizophrenia, delusions and paranoia, killed his mother, Joan Armstrong, by bludgeoning her repeatedly with a brick and stabbing her multiple times in the stomach and chest. Due to his severe mental illness the criminal court found him incompetent to stand trial, and instead he was placed in a psychiatric hospital for lifelong treatment.

What are Slayer Statutes?

Most U.S. states have some version of “Slayer Statute,” which precludes someone from inheriting from an estate if he or she caused the person’s death. Some states vary, however, in how they apply the rule. For instance, in some jurisdictions, the killing must be intentional or willful. In others, even negligent and reckless conduct that causes the death would preclude the person from receiving their inheritance. Texas does not have a slayer statute.

When a business owner passes away, there are inevitably additional concerns for the estate. For instance, should the business be closed, or should the business continue to be operated by surviving family members? How should the company’s assets be distributed among heirs? Experienced New York elder law attorneys can assist in making these difficult decisions and minimize the risk of problems like what occurred in recent Georgia case involving just this situation.

In a recent decision from the Georgia Supreme Court, James Myers, Sr. died, leaving his son, Anthony Myers, as his executor. Unfortunately, Anthony began using estate assets for personal gain, and soon his brother brought an action in the probate court to return the misappropriated funds and to remove Anthony as representative. The Supreme Court found that indeed Anthony had mishandled the estate. The following are some of the important lessons for executors.

The language of a company’s operating agreement or articles of organization control what should happen upon an owner’s death

With an aging population, more adult children are finding themselves faced with the difficult dilemma of caring for aging parents. In fact, the Centers for Disease Control estimate that nearly 34 million Americans provide caregiver services to someone over 18 who suffers from illness or disability. Roughly 83% are family members. This means there are approximately 28.2 million unpaid family caregivers providing these services to loved ones every year.

While caring for an elderly loved one can be a rewarding endeavor, it is not without its complications. This is especially true when it comes at the peak of one’s careers or perhaps while still raising minor children. Unfortunately, AARP only about 61% reach out to friends and family for help. But there is hope.

What is caregiver stress, and how do I recognize it?

A recent study at the University of Miami found that nearly 75% of all elder care service providers reported having members of the LGBT community as clients. Yet, less than 33% of these service providers had any type of specialized training geared towards the needs of seniors in this community. This study has prompted a new initiative in Florida called the “Protect Our Elders” campaign, aimed at addressing common problems that prevent elderly members of the LGBT community from seeking elder care.

Results of the Study

The University of Miami surveyed 48 facilities and agencies throughout southern Florida that provide some type of elder care services. This included hospitals, nursing homes, care facilities, churches, libraries, and more. Of those surveyed, 83% of the facilities and agencies said that not only would they be willing to offer LGBT training but that they also think that their employees would be interested.

As parents age, it can become harder for them to manage their own finances and accounts. Sometimes, the child needs to step in and help them with their financial needs, especially in cases where dementia or other cognitive impairments may be beginning to set in. Experts recommend the following tips if you find yourself in the position of needing to help manage your parents’ finances in addition to your own.

Find the Documents

The first thing to do when managing your parents’ finances is to find all of the important and necessary documents. Be sure to check all desk drawers, filing cabinets, and safety deposit boxes. You should look for all bank account and investment information, retirement accounts, insurance policies, and the titles and deeds to any significant property. You should also look for all medical records and expenses at this time, as it will most likely be a growing financial concern in the near future.

One of the most common hopes of retiring individuals is that they can move to the beach or go someplace abroad. A new study by the National Association of Real Estate Investment Trusts revealed that only a tiny percentage of seniors in their 60’s, around one percent per year, move. Most retirees remain in their own homes, but for those that do retire abroad there are certain considerations that must be made before the move.

Financial Concerns Retiring Abroad

Some of the most common locations for retirees to move to oversees today include Ecuador, Thailand, and Portugal. However, many are unaware of the Financial Crimes Enforcement Network Report 114. Otherwise known as an F-Bar, this document is required for any retiree that has a bank account overseas that contains a balance above $10,000. Failure to submit an F-Bar results in severe penalties, such as fines up to $100,000 or fifty percent of the balance of the account.

CVS Health Corp. CEO Larry Melo recently announced that the company is investing billions into the purchase of a nursing home pharmacy operator in an attempt to transform into a dominant healthcare player for senior needs. CVS purchased the company Omnicare, Inc. in its bid to outgrow CVS’ drugstore chain persona into something more all-encompassing for healthcare needs and focus more on the growing population of aging seniors in this country.

Recent Changes to CVS

This is not the first major change that CVS has made to its healthcare focus in recent years. In 2011, the company announced that it will no longer be selling cigarettes in its mission to improve its consumers’ health. It also changed its name from CVS Health to CVS Caremark and aggressively expanded the number of in-store health clinics. By 2017, CVS aims to have another 600 in-store health clinics for consumers and in 2013 the company purchased a drug-infusion company to expand its healthcare competencies.

The United Health Foundation, a nonprofit organization that is focused on improving healthcare and overall health, published its third annual report earlier this year that analyzes how well each state across the country is taking care of their seniors. Based on thirty-five different benchmarks, the study breaks down each individual state’s strengths and weaknesses for various elder care needs in addition to comparing states as a whole.

Elder Care in the United States

Almost one in seven citizens in the United States is now 65 years old or older, and the need for quality checks on our nation’s elder care system is increasing. By 2030, it is estimated that over one-fifth of the country’s population will be elderly. By 2050, it is estimated that nearly 83.7 million people will be 65 years old or older, more than double the elderly population in 2012.