tag:blogger.com,1999:blog-90381213475361076862012-02-16T19:19:40.943-05:00Florida Certified Elder Law Attorney offers insights and news to help Florida residents protect themselves and preserve assetsJoseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.comBlogger2291100tag:blogger.com,1999:blog-9038121347536107686.post-60019431859462505572012-02-05T19:00:00.000-05:002012-02-05T19:00:04.054-05:00

Are your adult children living in your household? Are your elderly parents living with you?  Or maybe both?  If so, you're part of a growing national trend. A Pew Report reveals that in 2009, fifty-million plus Americans were living in multi-generational households. About 20% of Americans older than 65 live in a household with another generation. My guess is your adult kids or your parents have

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-26827602017547915182012-01-30T14:33:00.000-05:002012-01-30T14:33:03.981-05:00

A shout-out to Attorney Greg Herman-Giddens, who posted this excellent piece on his North Carolina Estate Planning Blog. It's easy to tell horror stories about the trouble clients get into with do-it-yourself estate planning forms, but his post concentrates on all the positive things a  flesh-and-blood estate planning attorney can offer you and your family.  So here, it is, Attorney

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-48692754302274286062012-01-23T11:44:00.000-05:002012-01-23T11:44:18.937-05:00

I'll get to my client's story in a moment. Let's first look at how Americans feel about taxes. You might think you know the answer, but surprisingly, a Pew Research Center survey back in December revealed that over half of Americans think that what they pay in taxes is "about right." People are not so much distressed over their personal tax burden as by the idea that the wealthy don't pay their

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-38462878551825947612012-01-08T18:49:00.000-05:002012-01-08T18:49:41.395-05:00

It's a phone call we get several times a month. The caller's elderly parent does not appear to be capable of managing his own money. Maybe Dad is quickly depleting his savings on internet get-rich-quick schemes and can no longer pay the mortgage. Or Mom's dementia requires that she reside in a nursing home, but the children take steps to preserve her assets because her accounts are in her name

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-55723883456705344882012-01-01T21:20:00.001-05:002012-01-01T21:20:46.463-05:00

Elder advocate Jane Gross is perplexed. In a recent New York Times blog, Gross expresses surprise that Americans are not pressing harder for a policy overhaul that would provide appropriate care for our elderly population.  Gross wonders "why there is so little outrage among family caregivers, effectively abandoned by a government that in 1965 promised universal health care for the elderly." 

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-31873196826381613742011-12-19T13:38:00.001-05:002012-01-04T13:58:30.956-05:00

When it comes to dealing with our own aging process, there's a big difference between being spunky and being just plain stubborn. Taking unnecessary risks with your health and safety is foolish, since you may end up jeopardizing the very independence you cherish! I am reminded of some of my clients who reject the use of personal walking devices, only to end up falling and suffering serious health

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-73829506995727597692011-12-16T22:24:00.000-05:002011-12-16T22:24:43.126-05:00

The way people approach retirement and their Social Security benefits has changed over the years. More and more people are working after their official "retirement."  True, many of my clients are chafing at the bit to stop working completely, and swear they won't ever look back - and they don't. Some must continue working to pay the bills, particularly in view of the drubbing their portfolios

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-11817218043286571212011-11-28T17:33:00.001-05:002011-11-29T07:56:01.734-05:00

I saw "The Descendants" this weekend, a new film starring George Clooney. The film has an estate planning subplot that masterfully portrays how difficult it can be to satisfy all family members when an estate planning pie must be divided and distributed.  Matt King, played by Clooney, is the sole trustee of a breathtakingly beautiful plot of virgin land in Hawaii. The property has been in his

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-63466654151191680862011-11-20T23:05:00.000-05:002011-11-20T23:05:24.077-05:00

Most people want to "age at home," understandably so. On the other hand, there are many positives associated with an assisted living residence.    One of the objections I've heard from several clients is that they would never dream of leaving their pets. I'm on the same page as far as that goes: I have pets at home who I treasure. What few people know is that there are many pet-friendly assisted

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-17986855907180107112011-11-13T15:12:00.000-05:002011-11-13T15:12:37.606-05:00

Florida does not have a state estate tax, but Florida residents are subject to federal estate taxes. Over the past year or two, Floridians planning their estates have had to deal with a highly changeable federal estate tax situation. Now, the federal estate tax exemption is changing again. Beginning Jan. 1,2012, the lifetime unified gift tax and estate tax exemption will increase from $5.0

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-64349288775642313612011-11-07T15:22:00.000-05:002011-11-07T15:22:24.238-05:00

The Centers for Medicare and Medicaid Services have announced some key changes in qualifications for Medicaid long-term care benefits. The following changes will take effect January 1, 2012: Changes in income criteria: Applicant's income: The applicant will now be able to retain  monthly income up to $2094 (was $2022.) However, if the applicant has excess income, our Florida Certified Elder Law

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-51311120038011664562011-11-02T23:23:00.000-04:002011-11-02T23:23:32.404-04:00

This morning, congressional bickering abated long enough for lawmakers from both sides of the aisle to honor the thousands of Japanese American soldiers who served in WWII. The soldiers of the 100th Infantry Battalion, the 442nd Regimental Combat Team, and the Military Intelligence Service were awarded the Congressional Gold Medal of Honor in recognition of their service - service they gave

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-62259546998895732162011-10-25T20:42:00.000-04:002011-10-25T20:42:48.772-04:00

Several weeks ago I had the privilege of visiting the 9-11 Memorial in New York City. I had visited the area a few years ago, when there was only a gaping gash in the earth. Many years before that, I had visited the top floor with my young children, all of us marveling at the view from on high. At the memorial, the names of the victims - including those in the towers, in Pennsylvania, the

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-65401746524958252982011-10-23T23:08:00.000-04:002011-10-23T23:08:40.475-04:00

Planning for the cost of chronic disability should be a part of everyone's estate plan. A private room in a long-term nursing facility in Florida averages a wallet-busting $80,000 a year. With numbers like that, you can see why families stand to be wiped out when a loved one requires long-term care. At-home care and assisted living are also very expensive. Medicaid benefits and VA benefits may

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-14924774779397401312011-10-19T15:55:00.000-04:002011-10-19T15:55:56.872-04:00

For retirees and workers, there's good news, not-so-good news, and in-between news. Let's start with on a positive note: The Social Security Administration today announced the first cost of living increase in the past three years. If you're one of the 55 million Americans currently collecting Social Security, you'll get a 3.6% increase beginning in 2012. For the average retiree, this represents

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-39998087242060645972011-10-14T23:39:00.001-04:002011-10-15T18:23:53.419-04:00

"I was born an animal... and I don't want to die a vegetable." So says 81-year-old Joy Tomkins, explaining why she has the words "Do Not Resuscitate" prominently tattooed in blue over her heart. A British grandmother, Tomkins is not terminally ill. But she's hoping that if anything happens to her, the tattoo will ensure that extraordinary measures won't be taken to keep her alive. I don't know

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-51605628598736504082011-10-12T23:24:00.000-04:002011-10-12T23:24:17.637-04:00

Alert to Medicare beneficiaries: The enrollment period starts and ends earlier this year! From Oct. 15 through Dec. 7 you have the opportunity to look at your Medicare coverage, examine any new options, and decide if you want to make changes in your coverage. The enrollment period has been adjusted to allow the government more time to process the changes, and ensure recipients have their new

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-59051760794873710972011-10-10T00:21:00.000-04:002011-10-10T00:21:20.971-04:00

Steve Jobs died last week at age 56. With a net worth estimated at close to $7 billion, I figure his heirs don't need to worry much about estate tax. Even with a 35% tax on anything over $5 million, his family will be set for life. Jobs was married and had three children with his wife, and another child born out of wedlock with another woman prior to his marriage. But generally speaking, the

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-76214511298597862612011-09-27T16:25:00.000-04:002011-09-27T16:25:17.579-04:00

Veterans of World War II took wing on Sept. 24, flying to Washington DC to see the WWII memorial that honors their sacrifice. The trip, sponsored and paid for by Honor Flights of Southeast Florida, took 85 elderly heroes on this once-in-lifetime trip. Among them, 91-year-old Abe, a Pearl Harbor survivor and a resident of Aventura. Thanks to Abe and all our veterans for their service. See the

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com1tag:blogger.com,1999:blog-9038121347536107686.post-26253183520058739442011-09-26T12:26:00.000-04:002011-09-26T12:26:32.200-04:00

With regard to negotiations on the estate and gift tax, it is much too early to tell who the winners and losers will be in 2013. There is plenty of wrangling to come as the White House and Congress muddle through the issue. As they say in baseball, the score in the first inning isn't important. But if you're someone who likes to keep track, here's an update from the press box: Currently, the

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-31932140942548840402011-09-26T00:21:00.000-04:002011-09-26T00:21:04.791-04:00

Let me start off by assuring Florida residents who have a currently valid Durable Power of Attorney signed before October 1: Your Power of Attorney will be valid even after Oct. 1. You do not need to do anything, You do not need to change your current document. Your Power of Attorney will continue to be honored after October 1. However, new rules apply to any Florida Durable Power of Attorney

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-66666883220102484402011-09-21T22:27:00.001-04:002011-09-21T22:28:15.067-04:00

I'm delighted to announce that my older brother, Marshall Karp and co-author James Patterson have snagged the NY Times #1 bestseller slot for fiction with their mystery, Kill Me If You Can. Marshall started out in advertising, became a playwright, a screenwriter, worked in television, started his own internet advertising business... and now this. He's proof that you're never too old to reinvent

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-61539221463723868842011-09-17T14:46:00.000-04:002011-09-17T14:46:20.681-04:00

There's never a shortage of "financial advisors" willing to fleece seniors. That's heinous enough. What gets my blood boiling even faster is when veterans and their surviving spouses are targeted. Our veterans protected us, and now they need our protection.  And since the best protection against these scams is information, here's the lowdown: So-called Veterans Benefits Experts advertise in

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-1311540939621198422011-09-12T13:15:00.000-04:002011-09-12T13:15:52.349-04:00

Karp Law Firm staffers assisted young bowlers at the Special Olympics Bowling Classic on Sept. 10.  Youngsters with varying disabilities were cheered on by "Karp's Kommandos," who also helped them bowl and made sure everyone got their turn. The event was sponsored by Special Olympics of Palm Beach County, Florida and held at the Strike Zone in Lake Worth. Special thanks to our own Khristina Iwasz

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-53890430191879042162011-09-04T16:23:00.001-04:002011-09-05T13:13:53.307-04:00

Glen Campbell, the Grammy Award-winning writer/performer of the hit song Rhinestone Cowboy, is not riding off into the sunset. Despite his recent diagnosis of Alzheimer's Disease, the 75-year-old musician intends to perform as long as he can. He just released an album and has embarked on a farewell tour. Campbell is just one of many celebrities who have made their diagnosis public. What makes

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-33427433329047510672011-08-31T11:58:00.000-04:002011-08-31T11:58:21.731-04:00

Are you hip to HIPAA?  The 1996 federal Health Insurance Portability and Accountability Act has profound implications for the effectiveness of your estate plan. Yet there many individuals with older estate plans who have yet to update their documents to make them comply with HIPAA law. If you're one of these people, your health care providers may refuse to release information about you to the

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-74500868783993456042011-08-24T17:02:00.000-04:002011-08-24T17:02:37.060-04:00

We had a great group at our 2011 Social Worker/Case Manager Breakfasts last week. Over 100 professionals networked and learned about the latest legal developments that impact their clients and patients. Elder Law Attorneys Genny Bernstein, Adele Harris and I talked about guardianship; pending changes in Florida law for long-term care Medicaid benefits; and why seniors should steer clear of buying

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-23610326446779804992011-08-23T22:23:00.000-04:002011-08-23T22:23:47.639-04:00

Pat Summitt, the high-powered coach of the University of Tennessee's women's basketball team, knew something was wrong. After experiencing a number of memory lapses, she finally consulted the doctors at the Mayo Clinic, who delivered the news:  Alzheimer's Disease. With five million Americans suffering from Alzheimer's and related dementias, the diagnosis is not rare. What made Summit's diagnosis

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-56277479283426709842011-08-22T18:24:00.002-04:002011-08-23T15:29:23.522-04:00

IRAs, or individual retirement accounts, require special consideration when creating your Florida estate plan. Any unused funds in your IRA upon your death may be paid to beneficiaries. Proper planning can ensure your heirs get the most benefit. IRAs are personal savings plans that allow you to set aside money for retirement and create tax savings. The advantage of IRAs is that you may be able to

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-830552992659108792011-08-19T22:25:00.000-04:002011-08-19T22:25:24.031-04:00

Amid all the economic worry, here's one piece of good news. Thanks to the Affordable Care Act, more and more seniors inside the Medicare Part D "donut hole" are getting a break, averaging 50% discounts on covered drugs. More good news:  The U.S. Department of Health and Human Services has announced that the cost of the average Medicare prescription drug plan premium will not rise next year, but

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-74312988059458028722011-08-12T22:55:00.002-04:002011-08-12T23:07:58.873-04:00

Many spouses or adult children of seniors come to see me when their loved one has been admitted to, or is soon going into, a nursing home for long-term care. They are traumatized over their loved one's situation, of course. Often they are feeling completely blindsided, having recently learned that contrary to popular belief, Medicare isn't going to pick up a dime of the enormous cost. If the

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-52572936271427397332011-08-10T12:23:00.000-04:002011-08-10T12:23:25.463-04:00

Short of Seal Team 6 and emergency room docs, most of us don't make our best decisions under extreme pressure. We're more likely to grab at whatever solution seems handy. This may explain the unfortunate situation Orlando resident Janet Lentz, 76, found herself in. As reported in the July 30 Orlando Sentinel, Lentz had to place her husband with Alzheimer's Disease in a nursing facility when he

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-72971660194797592442011-07-31T00:58:00.000-04:002011-07-31T00:58:54.645-04:00

As I write this, we have only 48 hours for Congress to act to avoid U.S. default on its debt. Is this any way to run a country? Away from Washington, Baby Boomers are having problems running their own economic lives. A just-released Associated Press/Life Goes Strong poll of Americans born between 1946 and 1964 reveals that nearly half worry they will not be able to afford medical care in

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-28531565969599741782011-07-26T21:50:00.000-04:002011-07-26T21:50:57.276-04:00

Vietnam veterans who had "boots on the ground" or served on ships on Vietnams's inland waterways (Brown Water veterans) are entitled to VA service-related benefits and health care if they develop any of the 14 diseases linked to exposure to Agent Orange. It is presumed that any of these diseases was caused by exposure to Agent Orange. These diseases include prostate cancer, certain heart

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-77061540954592523182011-07-24T21:41:00.001-04:002011-07-26T13:09:36.933-04:00

My wife is a big fan of historical dramas. She saw every episode of The Tudors. The Borgias, too. As I watched with her, it struck me that at their heart, these are tales of family members fighting to pass on or receive family inheritances, be they political, financial or social. (There were no estate planning attorneys around in those days, I guess.) Most families' troubles pale in comparison to

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-45139206276669550022011-07-20T21:42:00.000-04:002011-07-20T21:42:00.764-04:00

Making gifts can be a useful tool in your estate planning toolbox. I often talk with clients about how gifting can fit into probate avoidance strategies, minimize estate taxes, or even hasten eligibility for Medicaid benefits. Under current federal law, any gift you make over $13,000 in any given year to any one individual is deducted from your $5M lifetime unified gift and estate tax exemption.

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-40338291962330467782011-07-17T23:17:00.000-04:002011-07-17T23:17:03.084-04:00

I often find myself telling people stories about estate planning gone wrong. Particularly when the parties are high-profile, these true-life stories can be a great way to show people how to do things the right way. Now, a new TV show will be devoted exclusively to these estate planning "bloopers." Trials & Heirs: Protect Your Family Fortune will air on public television in December of this year.

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-82966713307612857562011-07-10T17:20:00.000-04:002011-07-10T17:20:53.321-04:00

The Karp Law is holding three Senior Survival Workshops this week in Palm Beach Gardens, Boynton Beach and Port St. Lucie. The events are free, there is no obligation, and you don't need a reservation. Attendees will have the opportunity to book a free consulation with one of our Elder Law Attorneys. Find out what you need to know to protect your assets, keep from going broke if you or a family

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-10252702813059738102011-07-10T00:54:00.000-04:002011-07-10T00:54:31.461-04:00

As we grow older, our ability to make sound money decisions may diminish. Last month's Morningstar financial conference addressed this issue. Harvard Economics Professor David Laibson pointed out the need for seniors to protect their assets not just from financial predators, but from themselves in the event of cognitive decline. With half of those over the age of 80 experiencing significant

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-80631616562568366732011-07-06T17:05:00.000-04:002011-07-06T17:05:57.460-04:00

I am humbled and happy to announce that I have been named one of the 2011 "Florida Legal Elite" by Florida Trend Magazine. I am one of only 11 Elder Law Attorneys statewide to receive this honor, which is based on responses from attorneys who are asked to "name attorneys whom they hold in the highest regard or would recommend to others." To all my peers in the legal community and to Florida Trend

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-16875381090266370212011-06-29T15:01:00.001-04:002011-06-29T19:48:31.841-04:00

The Florida Department of Children and Families has modified two rules that impact on applicants for Medicaid longterm care benefits, and their spouses. Minimum Monthly Maintenance Needs Allowance changes: If the Medicaid applicant has a well (i.e., "community" spouse) whose income is below $1839, a portion of the applicant's income may be diverted to the well spouse to bring the well spouse's

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-34319848073499360252011-06-27T23:24:00.001-04:002011-06-28T08:18:31.237-04:00

For nearly two decades, the public has gotten a lurid peek into the legal wrangling between late Playboy playmate Anna Nicole Smith and her late husband's family. Now, the final curtain has come down on the drama. Smith married 89-year-old Texas oil tycoon J. Howard Marshall in 1994. He died the following year. Left nothing in his will, Smith sued the estate in Texas Probate Court, claiming that

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-57603290550177204772011-06-19T00:39:00.000-04:002011-06-19T00:39:10.938-04:00

It's Fathers Day. That's a photo of my dad. He is no longer here to celebrate, but I think of him all the time. And of course, today's a day that evokes particularly strong and happy memories. What if your Dad is with you -- but he is elderly and his memory has forsaken him? There are many simple and meaningful ways you can relate to your elderly parent and celebrate the day, from listening to

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-67958050648983865352011-06-17T14:37:00.000-04:002011-06-17T14:37:00.738-04:00

People with significant assets are currently enjoying an  extraordinary opportunity to transfer more wealth to loved ones, estate tax and gift tax-free. But you know what they say: The IRS giveth and the IRS taketh away. December 31, 2012 is a taketh-away day, so don't drag your feet if you want to capitalize on this opportunity. The estate tax, gift tax and generation-skipping tax were unified

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-47083768717904005592011-06-14T23:36:00.002-04:002011-06-16T16:50:28.335-04:00

Elder abuse is where child abuse was years ago. Under-reported. Poorly understood. And off the public's radar. Fortunately, many efforts are being made today to bring the growing problem into the light of day. That's the goal of Elder Abuse Awareness Day, June 15th. In March of this year, 90-year-old actor Mickey Rooney told a Senate committee  about his own experience with elder abuse, saying

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-50369090651894362952011-06-10T12:10:00.000-04:002011-06-10T12:10:34.733-04:00

Today's older generation put a man on the moon. Kick-started the computer revolution. Liberated Europe. Every generation has its merits, but this one truly is  "The Greatest Generation." It's one of the reasons I am privileged to work with seniors and their families. As an  Elder Law Attorney, I have the supreme satisfaction of helping the Greatest Generation navigate the newest challenges in

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-19820351796681659862011-06-07T21:21:00.000-04:002011-06-07T21:21:56.252-04:00

Beginning June 1, 2011, Florida law provides creditor protection for Individual Retirement Account funds inherited by Florida residents. This is good news for potential beneficiaries who may be in debt, as well as for those who wish to pass on their IRAs.  Details here. 

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-81562605404311940612011-06-03T14:31:00.001-04:002011-06-03T14:32:19.759-04:00

Today is National Doughnut Day. I'm not kidding! It started out as a day to honor the women who served doughnuts to soldiers during World War I and World War II. To commemorate, Krispy Kreme is offering free doughnuts today, and Dunkin Donuts is giving away  a sweet treat to anyone who orders a beverage. I am going to resist the urge to splurge on doughnuts today. I need to save the calories. But

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-56324765341619332952011-05-31T22:18:00.000-04:002011-05-31T22:18:12.195-04:00

It is not uncommon for a decedent's creditors to contact the person's adult children. The caller will request that the child pay the parent's outstanding debts. Often the debts are medical bills. These calls are understandably unnerving for a child who is coping emotionally with the death of a parent. So is a child responsible for his deceased parent's unpaid bills? Unless you have signed as a

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-60881749684890104962011-05-19T23:24:00.000-04:002011-05-19T23:24:40.299-04:00

Seventy five members of "The Greatest Generation" boarded buses and planes on May 14, making their way to Washington to see the World War II Memorial that honors their sacrifice. The trip was made possible by Southeast Florida Honor Flights and a slew of volunteer "guardians" who assisted the aging World War II veterans throughout the day.  The next honor flight is scheduled for Sept. 24. To

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-64956285757208076942011-05-17T22:51:00.000-04:002011-05-17T22:51:01.679-04:00

In a perfect world, Social Security funds in your bank account should be immune to garnishment for any unpaid debts. Federal law says so. But in the real world, it happens. A lot.  The National Consumer Law Center estimates that about one million receipients of federal benefits have their benefits frozen by banks each year. When this occurs, seniors have to spend time and money - both of which

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-6911304710356258562011-05-08T00:25:00.000-04:002011-05-08T00:25:30.096-04:00

Mother's Day 2011. I wish I could share the day with my late mom, pictured at left.  For those of you with Mothers in your lives, it's time for some pampering. Flowers, cards and candy are nice. But there's something else you can do to demonstrate your appreciation for Mom: Help her plan for her future, financially and legally.  The need is clear: Our mothers tend to live longer than our fathers.

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-82050687187779065072011-05-04T11:51:00.001-04:002011-05-04T21:27:41.963-04:00

The most recent U.S. census reveals that 72,000 Americans are 100 years old or more. By 2050, it's predicated there will be anywhere from 265,000 to 4 million Americans in that category. In fact, the world's oldest man, a resident of Montana, recently died at age 114. Whether we make it to 100 or not, it's certainly true that we are living longer. Gone are the days when the average person retired

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com1tag:blogger.com,1999:blog-9038121347536107686.post-51467437233696362182011-05-02T00:43:00.000-04:002011-05-02T00:43:53.325-04:00

Our Certified Elder Lawyers offer Free Senior Survival Workshops this week in Boynton Beach, Palm Beach Gardens and Port St. Lucie, Florida.  We'll discuss what all Floridians need to know to protect themselves and their families, with topics ranging from protection against longterm nursing costs, explanation of wills and trusts and other documents, and much more. The workshop is free, and you

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-76500579964893623892011-04-26T14:37:00.001-04:002011-05-04T21:28:54.796-04:00

Many Florida residents own real property in Florida and another state. Although that has always been the case for a large number of my clients, it seems like their numbers are increasing. Many  cannot find buyers for their homes "Up  North." On the other hand, I also have clients who own out-of- state property who have no intention of selling it. They go there to escape the steamy South  Florida

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-78537051137830724592011-04-18T00:51:00.000-04:002011-04-18T00:51:29.420-04:00

The Company for Location and Restitution of Holocaust Victims' Assets is attempting to locate the legal heirs of those who died in the Holocaust, leaving behind unclaimed assets in Israel. Prior to World War II, many European Jews invested in banks, real estate and other assets in Palestine.  The vast majority of those individuals were killed in the Holocaust. Today, there are over 60,000

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com1tag:blogger.com,1999:blog-9038121347536107686.post-91216301915250846622011-04-14T11:30:00.001-04:002011-04-14T11:30:59.679-04:00

I remember thousands gathering in parks across the nation on April 22, 1970 for the first Earth Day. We've made some progress in 40 years: air and water in America are cleaner and some species have been brought back from near-extinction. But the nuclear disaster in Japan, the Gulf oil spill and countless other issues remind us that much work remains. Many of my clients strongly support

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-71654622323641787782011-04-10T19:08:00.000-04:002011-04-10T19:08:39.503-04:00

South Florida radio personality Neil Rogers died Dec. 24 at the age of 68. You either loved him or hated him. He had no close family, but left behind legions of bereaved fans. And he left behind something else: Two contradictory Wills. The battle over his estate has landed in Broward Probate Court. Rogers, who had been living in Canada, signed a Will there in October 2010 when he became ill,

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-1126820456613356032011-04-10T00:20:00.002-04:002011-04-14T11:32:57.996-04:00

The Elder Law Attorneys and Staff ot The Karp Law Firm were out in force for Memory Walks! Karps Kommandos, their relatives and friends were on the scene at the Alzheimer's Association of Southeast Florida Memory Walks on March 26 in Port St. Lucie and April 9 in West Palm Beach. We raised over $1000 for research and for services in Palm Beach, Martin, St. Lucie, Broward, Dade, Okeechobee and

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-16711654743877167292011-04-05T11:06:00.000-04:002011-04-05T11:06:11.391-04:00

 When it comes to creating Advance Health Care directives, there's a definite disconnect between what Americans say and what they do. According to a 2006 Pew Research study, most of us believe we have the legal right to manage our own end-of-life decisions, free from interference from the government. However, the survey also showed that only 29% of us have a Living Will -- the very document

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-12002865256615751122011-04-01T11:13:00.000-04:002011-04-01T11:13:01.795-04:00

It's said the only certainties are death and taxes. Most of us give taxes the necessary attention (especially this time of year). But we tend to stick our heads in the sand and dodge making plans for that other certainy. A March 2011 Harris poll shows that 57% of Americans over the age of 18 don't have a will! But it's not just the youngsters who are in denial. Among Baby Boomers ages 45 - 64,

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-12954599209424448912011-03-28T10:13:00.000-04:002011-03-28T10:13:43.178-04:00

The Karp Law is holding three Senior Survival Workshops this week in Palm Beach Gardens, Boynton Beach and Port St. Lucie. The events are free, and you don't need a reservation. Click here for the schedule.

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-5695319850835493792011-03-28T09:57:00.000-04:002011-03-28T09:57:55.837-04:00

Like they say, You can't take it with you! But thanks to The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, your loved ones stand to get more of what you leave behind.  If you're confused about what the law means for you, you're not alone. Below, the new laws for 2011-2012 in a nutshell. Some key points to keep in mind:The State of Florida does NOT have an

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-17786283137108655402011-03-23T15:53:00.000-04:002011-03-23T15:53:37.060-04:00

The Alzheimer's Association just released its 2011 report on Alzheimer's Disease in America, and the data isn't pretty. Five million Americans have the disease - that's 37% more than last year. Fifteen million people are caring for those with Alzheimer's and other dementias. The cost to society and our health care system is enormous, and growing all the time. The Karp Law staff is raising monies

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-39942300295702827392011-03-21T13:03:00.000-04:002011-03-21T13:03:08.565-04:00

A federal judge has ruled that retirees cannot disenroll from Medicare Part A without losing Social Security benefits and refunding all the Social Security benefits that have been paid to them. The case was brought by federal employees who want to drop their Medicare Part A coverage in favor of other insurance, but want to retain their Social Security benefits. The ruling was based on the notion

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-60449222667487403412011-03-14T23:00:00.000-04:002011-03-14T23:00:24.022-04:00

My readers are a charitable bunch of folks, so I suspect many of you are considering contributing something to the Japanese cleanup effort. The destruction is on a massive scale, and incidentally, a disproportionate number of those affected are seniors. If you are planning to contribute, please make sure that you give to a legitimate charity. As usual, there is no shortage of con artists and

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-92146543967629418502011-03-13T23:48:00.000-04:002011-03-13T23:48:13.452-04:00

The incidence of Alzheimer's Disease and other dementias is growing along with our rapidly growing senior population. CNN News is soliciting stories and advice from patients, caregivers, anyone who has been touched by Alzheimer's. Your items may be submitted in writing or video. Submit your Alzheimer's stories and advice here.   Learn more about advance medical directives like a Florida Health

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-9138845601961001862011-03-13T12:29:00.000-04:002011-03-13T12:29:07.579-04:00

Florida Medicaid cutbacks are under discussion in the Florida legislature. A bill is pending that if passed will make qualifying for longterm nursing care benefits more difficult after July 1. Medicaid benefits are what make the difference between a family preserving a good portion of its assets or being virtually wiped out by longterm nursing home costs. So, if you do not have longterm care

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-45312242302695377382011-03-09T22:59:00.000-05:002011-03-09T22:59:59.617-05:00

This article was posted originally by the Academy of Special Needs Planners on 2/2/11. Although this is a true story that occurs in New Jersey, it could as easily happen in Florida! Have you been thinking of meeting with a special needs planner to put a plan in place for a child or loved one but you just haven't made the call? Or have you already met with an attorney and not finalized your plan,

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com1tag:blogger.com,1999:blog-9038121347536107686.post-46519741899026289322011-03-07T16:58:00.000-05:002011-03-07T16:58:27.795-05:00

Estate Tax Changes: What It Means For You and Your Family will be the topic at my seminar tomorrow. The event is free so plan to attend and hear about the following: Understand the key provisions of the new law. Why if you’re married, your Credit Shelter Trust may no longer be your best estate planning choice. Enhanced gifting opportunities under the new law, and why you should take advantage of

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-66656901756840003602011-03-04T16:41:00.000-05:002011-03-04T16:41:54.368-05:00

In addition to this blog and our monthly e-newsletter, The Karp Law Firm publishes an annual newsletter, Planning Points. Click to read the 2011 Elder Law/Estate Planning Newsletter.

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-43095969884105267662011-03-02T22:24:00.000-05:002011-03-02T22:24:54.129-05:00

We say farewell to Frank Woodruff Buckles, the last known American veteran of World War I. Buckles died at age 110 on February 28 at his home in West Virginia. Born in Missouri, Buckles lied about his age to enlist in the army. He served in England, France and Germany. Asked how it felt to be the last living veteran of the conflict, he said in 2008 interview,  "I realized that somebody had to be,

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-72352078489372706162011-03-01T11:36:00.000-05:002011-03-01T11:36:52.326-05:00

Jean is 80 years old, a Florida resident and legally blind. Her daughter Laura has left her job in order to assist her mother. Laura does the cooking, shopping and housekeeping, transports her mother to  medical appointments, and serves as Jean's all-around companion. Although she does all this out of love, Laura is paid by her mother for her help. As dedicated a daughter as she is, Laura could

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-32024563848937541802011-02-22T18:28:00.002-05:002011-02-26T03:56:25.377-05:00

Tom DiBaggio, diagnosed with early onset Alzheimer's Disease at age 57, died Feb. 21 at the age of 69.  DiBaggio was determined to stay in the public eye and educate people about the nature of this ever-escalating threat. As he put it,  he wanted to "break through the sense of shame and silence Alzheimer's has engendered." DiBaggio wrote a memoir about his journey, "Losing My Mind" and spoke to

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-24702933357644485892011-02-19T11:33:00.000-05:002011-02-19T11:33:12.594-05:00

Aging Florida veterans of World War II  get the red carpet treatment on May 14. That's when "Honor Flights" grants the wish of  needy veterans to finally see the World War II Memorial in Washington, D.C. As meaningful as the trip is for the vets, we hear that what's even more spirit-buoying is the crowd that assembles to see them off and greet them when they return to Florida. That really shows

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-17183467643637256002011-02-16T20:37:00.000-05:002011-02-16T20:37:52.595-05:00

In these challenging times, you have to do more than just collect social security benefits. You have to manage them. If you are thinking of retiring, attend this free event on February 24 in Jupiter, Florida, to learn how to leverage your benefits. Estate Planning/Elder LawAttorney  Joseph Karp and Financial Professional Steve Levine will be the speakers Click here for more information.

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-79649336579821396972011-02-16T16:44:00.000-05:002011-02-16T16:44:16.083-05:00

Learn more about Florida estate planning, wills and trusts, Medicaid planning, veterans benefits, and long-term care planning at our FREE Senior Survival Workshop. Our workshops are open to the public and free of charge. You don't even need a reservation - just show up! Attendees receive a free, one-hour consultation from one of our attorneys. Schedule of estate planning and elder law free

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-56575552742674532592011-02-14T12:17:00.001-05:002011-02-14T12:18:08.842-05:00

I was at the Puppy Love Festival in North Palm Beach, Florida this weekend with my dog. The festival attracted hundreds of canines with their devoted owners in tow, and included contests for best Valentine's outfit (see winner at left), best kisser, best singer, and best tail-wagger. What a hoot! People sure do love their dogs. Which is why you will surely want to make sure they are taken care of

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-54811733653741780562011-02-07T12:49:00.001-05:002011-03-10T00:03:54.806-05:00

So the Packers won and the Steelers lost. But ALL retired NFL players just scored a touchdown: The National Football League is now providing and paying for long term care insurance for NFL alumni.  From the NFL Alumni website: Long term care services are generally needed as individuals age and require assistance to perform daily tasks. However, accidents and illnesses can occur at any age and,

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-60951456648120957782011-02-06T23:41:00.000-05:002011-02-06T23:41:48.371-05:00

Florida residents, pay attention to the sensational legal battle unfolding over 85-year-old Al Barnes' medical care. It offers many lessons on what to do and not do to stay in control over your medical destiny, keep the courts out of your personal medical decisions, and discourage family conflict. Here's the case in a nutshell: A former heavy equipment salesman, Barnes has been in a Minnesota

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com1tag:blogger.com,1999:blog-9038121347536107686.post-67596838731653889092011-02-02T15:27:00.000-05:002011-02-02T15:27:06.908-05:00

Here's a fantastic article about "Super-Retiree" Leonard McCracken of Florida. What's a Super-Retiree? Well, let's put it this way: He's been retired since 1969. He never earned more than $10,000 a year. And at age 107 - yes, you read that right - he has no money worries. For most of us who fret that our funds won't last as long as we do, here's Bill's advice:  Be thrifty.A no-brainer. For

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-29290721732972612232011-02-02T09:31:00.001-05:002011-02-02T09:32:37.064-05:00

For seniors age 62 and over who are looking to generate cash, a reverse mortgage may be a good solution. A new type of reverse mortgage is now available that slashes the up-front costs that have prevented many seniors from exploring this option.  Read more here. Taking out a reverse mortgage is a very serious step and you must know all the facts before proceeding. Many people view reverse

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-48008170021718710582011-01-29T11:50:00.001-05:002011-01-29T11:51:00.609-05:00

Your parent is always your parent, as they say in this video. Even if you are your parent's caregiver. Check out the video below that talks about the role reversal. Contact our elder law attorneys to create a plan that will allow your parents to age with dignity - and give you, and them, peace of mind as you make this journey together. Visit msnbc.com for breaking news, world news, and news

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-82541674021779179702011-01-24T16:02:00.000-05:002011-01-24T16:02:08.875-05:00

Looks like Bernie Madoff's youngest son Mark didn't do what we always recommend our estate planning clients do:  Review his estate plan whenever there's a substantial change in financial or family circumstances. And what changes there were in the Madoff family circumstances these past few years. We've just now learned that Mark Madoff, who took his own life late last year, had drafted a Will  in

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-37513730568724318522011-01-20T10:33:00.003-05:002011-01-20T11:56:38.041-05:00

Admitting a parent or other loved one into a nursing home is bound to be an emotional, even traumatic experience for everyone involved. But keep your wits about you. You're going to need to think clearly when you are faced with the nursing home's admission agreement. Most nursing homes in Florida and elsewhere ask you to sign your loved one's admission agreement. Politely refuse. Specifically, do

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-28597931669469200032011-01-18T10:39:00.001-05:002011-01-18T17:46:30.822-05:00

Steve Jobs is again taking a medical leave from Apple, the giant company he's built. Although other execs may not have his unique marketing genius, they're ready to step into his shoes.   The question for our readers is this: Is your company - your FAMILY - prepared to step into YOUR shoes? If you are disabled, who will pay your bills? Handle your investments? Have the authority to cancel your

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-11319949299128801922011-01-12T19:57:00.001-05:002011-01-12T19:57:21.592-05:00

Seniors 70-1/2 and older must take annual required minimum distributions from their IRA, at which point the distribution is taxed. However, if you do not need the income, you can dodge the taxman - and do a good deed  to boot - by donating the distribution directly to a charitable organization. Because of congressional foot dragging in 2010 and the last-minute passage of the tax bill, seniors

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-41232734512744353192011-01-04T23:19:00.000-05:002011-01-04T23:19:55.634-05:00

The Department of Veterans Affairs is holding millions of dollars in unclaimed funds, consisting of payments to insurance policyholders (or their beneficiaries) who the department has been able to contact.  The insurance policies involved are the following: United States Government Life - beginning with the letter "K"National Service Life Insurance - letters "N" or "V"Veterans Special Life

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-12466550257386779352010-12-29T09:43:00.001-05:002010-12-29T09:43:57.324-05:00

There is no tax on generation-skipping transfers through DECEMBER 31, 2010. Beginning January 1, the tax rate will be 35%. If you were planning to make any GST transfers, act NOW. More information

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-21644537285813653122010-12-22T16:53:00.000-05:002010-12-22T16:53:01.863-05:00

So Congress finally did it. Well, not final as in really and truly final. Final as in, for the next two years. Through Dec. 31, 2012, there will be a top federal estate tax rate of 35% on estates over $5 million. (Unless Congress changes its mind before then. In this volatile economic and political climate, nothing is impossible.) For now, like every estate planner on the planet, I'm figuring out

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-23519883736320885222010-12-13T16:37:00.001-05:002010-12-13T16:38:06.338-05:00

In the interest of deficit reduction, the Social Security Administration now restricts an option that has allowed seniors to retire early and still come out ahead. The "do-over" method allowed a person to retire early and collect reduced benefits. After a few years of collecting reduced benefits - and investing them - the recipient could repay benefits and refile, receiving a new, higher benefit.

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com2tag:blogger.com,1999:blog-9038121347536107686.post-32531297465000306252010-12-11T10:35:00.000-05:002010-12-11T10:35:50.091-05:00

Desperate times make desperate people do desperate things. I suspect that's why there's been an uptick in the amount of probate litigation recently. More people who think they're not getting their rightful share of the estate pie are willing to go to the mats for their inheritance. No one has exact figures, but the trend has been noticed across the country - read one report here. What this mean

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-43243028178583935212010-12-08T21:50:00.004-05:002010-12-09T23:50:29.447-05:00

I read a lovely article recently about triplets. But not just any triplets. These gals are 90 years old and in great health. Marguerite (that's her at the left), Catherine and Frances Kirchner are the personalification of what most of us want: a ripe old age, and good health getting there. Whether their good fortune is attributable to genes or to healthy living as Marguerite seems to believe, or

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-31224926085884767142010-12-06T19:59:00.001-05:002010-12-06T20:05:46.499-05:00

President Barack Obama tonight announced “a framework for a bipartisan agreement” on temporarily extending the tax cuts that are scheduled to expire January 1.The estate tax would be reinstated for two years with a rate of 35 percent and a $5 million exemption. Most Democrats wanted a 45 percent rate and a $3.5 million exemption for the estate tax, which is imposed on inherited assets. Under

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-2705618770290983032010-12-06T09:25:00.002-05:002010-12-06T09:30:18.748-05:00

A British university recently announced it is getting closer to an early screening test for Alzheimer's. The noninvasive test involves examining lesions on the memory hub of the brain.  Diagnosing Alzheimer's today is a patchwork affair at best. In our elder law practice, we have observed that the disease sometimes manifests itself early in poor, even bizarre financial decisions. Several years

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-80427109613454905452010-12-01T10:56:00.001-05:002010-12-01T10:57:44.031-05:00

Helping people create Advance Directives - living wills, health care powers of attorney and so on -- is a big part of my Florida Elder Law Practice. It requires courage for clients to ponder what kinds of treatments they want if they are not able to speak for themselves. They do so not only out of concern for themselves, but for their loved ones. By documenting their wishes, my clients hope to 

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-9573763145421376782010-11-30T00:31:00.003-05:002010-12-01T14:18:02.532-05:00

Too many elderly veterans and their surviving spouses fail to apply for V.A. "aid and attendance" benefits that could help them pay for nursing home, assisted living, and even at-home care expenses. Only a small fraction of the 2.3 million World War II vets, 2.6 million Korean War vets and 7.7 million Vietnam vets ever apply. Of course, not every applicant is eligible. There are income limits,

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-85543844066100675062010-11-27T23:21:00.005-05:002010-11-30T00:05:44.709-05:00

In just a few weeks we'll watch the ball drop at Times Square, ushering in 2011. And if you haven't taken advantage of your 2010 annual gift tax exclusion by then, you'll have dropped the ball! The gift tax exclusion can be an excellent tax planning planning tool. The exclusion does not carry over from year to year. So if you want to use it, not lose it, the time is now! The gift tax exclusion

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-47832728654733803692010-11-22T11:06:00.001-05:002010-11-22T11:07:38.863-05:00

The midterm elections are over. There's a Lame Duck Congress on the Hill with plenty to keep it busy. And... only six weeks remain until the possible return of the federal estate tax. By now, I thought for sure Congress would have given us clarity on where the estate tax is heading. Instead, we're still up in the air. It's nervewracking for clients and their attorneys, that's for sure. I am

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0tag:blogger.com,1999:blog-9038121347536107686.post-70652649850356044352010-11-08T17:41:00.002-05:002010-11-08T17:42:47.755-05:00

Death is only the beginning. That's the tagline for the new series, The Will: Family Secrets Revealed, documenting what occurs in families after the death of a loved one. But make no mistake, these are not ordinary families. The show's press release reads: Hotly contested and sometimes surprising, a person's last will is often a very telling sign of how they perceived their loved ones - a single

Joseph S. Karp, Certified Elder Law Attorneyhttp://www.blogger.com/profile/07539750736784032285noreply@blogger.com0