Elder Law Issues
November’s Elder Law Items of Interest
Turkey. Done. Pie. Done. Black Friday. Done. Next? December. But first, our review of elder law items of interest from November: Estate & Tax Planning The estate tax exemption will take a relatively big jump in 2023. It increases to $12.92 million per person from $12.06 million in 2022. That’s an extra $860,000 to plan
The Problem of the Pretermitted Spouse
One of the common and vexing problems in administering a decedent’s estate is how to deal with a pretermitted spouse. To most non-lawyers, that sounds vaguely disturbing. What is a “pretermitted spouse,” and why do we care about their problems? What – or who – is a “pretermitted spouse”? “Pretermitted” is just a near-archaic term
Estate Tax Revenue Jumps for 2021
Something surprising happened in 2021: Estate tax revenue increased. Though the estate tax exemption has never been higher, the amount collected almost doubled from 2020 to 2021, from $9.3 billion to $18.4 billion, recent IRS data indicates. Experts suspect it’s the combination of pandemic death rates and market gains in stocks and real estate. Some
Do Not Resuscitate / Do Not Hospitalize / Do Not Intubate (DNR/DNH/DNI)
A client asked last week whether he had properly signed his own DNR and DNI orders. We asked if he meant a “do not resuscitate” and “do not intubate” order. He confirmed that was what he thought he had signed. It made us think we need to look at the advance directive issue and update
Halloween Review: Scary? Not so Scary?
Boo. Here’s your Halloween edition of our monthly review of developments in elder law. Some are scary, but others not so much. The IRS: Not So Scary? We may another year to figure out RMDs from inherited IRAs. The SECURE Act changed the payout requirements for a decedent’s IRA, and many were surprised when the
Blended Family’s Estate Plan Challenges
Americans are romantically optimistic. People keep getting married, even though almost 50% of marriages end in divorce. Estate planning for second, third, fourth marriages can be delicate, especially if there are children from prior relationships. The “blended family” estate plan has a number of special challenges. Among scenarios to consider: Stepchildren: Just Like My Own
Trust Amendment by Email Might Be Valid
Last week we wrote about the late Anne Heche‘s emailed “will” that might be judged valid under California law. Our own article reminded us of a similar, but different, story we recently read about a less-famous electronic estate plan. The key difference: it involved an attempt at a trust amendment by email, rather than an
Emailed ‘Will’ at Center of Heche Estate Dispute
Can an emailed will be a will? That’s the question at the center of a dispute between actress Anne Heche’s son and her former significant other. Heche died in August at age 53. Shortly after, her 20-year-old son, Homer Laffoon, petitioned a California court to be named executor to administer her estate and for the
What I Learned This Summer
I don’t know about you, but I spent my summer in one continuing legal education program after another. Here’s some of what I learned this summer. What I learned in Alaska OK — I really went to Alaska to see the bears. And they were incredible, and worth the trip. But while I was there,
September Review: The Queen and Other Jewels
It’s almost the end of the month, which means it’s time for our monthly review of elder law news and developments. Normally, we survey a broad elder law landscape, but this September review is not normal: Queen Elizabeth has died. That leaves many wondering who inherits her $500 million fortune. So we spend much of
Community Property With Right of Survivorship in AZ
Arizona is one of the minority of states recognizing the concept of community property. In Arizona’s version, though, most real estate owned by spouses for many years was titled as joint tenancy with right of survivorship. Why? Because Arizona did not recognize community property with right of survivorship until 1995. Is Community Property with Right
Planning for Protection-From Yourself
Most people think estate planning is all about what happens when a person dies. It is, but it’s also important for the living. One special case: When you realize you need protection from yourself. Maybe you have a mental illness and can’t always be attuned to financial matters. Maybe you have a family history of
Operation of Joint Tenancy Defeats Creditor’s Claim
Most people understand the concept of joint tenancy ownership. But the operation of joint tenancy in specific facts may be counterintuitive. Last week we read an Illinois case that pointed out that joint tenancy is not just joint ownership of property. The life of a joint tenant Victor Barcroft lived in Lake County, Illinois, where
August Review: Newman, Monroe, Prince, Puzio
September is almost here, which means it’s time to look back at the past month’s developments in elder law. For the August review: August Review: Celeb Estates There’s more celebrity estates news than we’ve can ever recall seeing in a single month. We already wrote about Anne Heche’s tragic death, and here are more celeb
Anne Heche Was an Organ Donor; Are You?
Actress Anne Heche died last week at 53 after a fiery crash. Her tragic end was a lifeline to others. She was an organ donor. Heche was declared brain dead on August 12. She was “peacefully taken off life support” on August 14, after a suitable transplant recipient was found. Her family revealed that it
How We Advise Clients About “Five Wishes”
You probably have bumped into the “Five Wishes” document before. It is widely promoted, and viewed favorably by most professionals and users. You can order a paper copy of the Five Wishes workbook and form for (as of this writing) $5.00. Or, for $15.00, you can get an electronic version that lets you complete the
Naomi Judd Probably Didn’t Disinherit Ashley & Wynonna
Yet another celeb estate is making headlines. This past week, news outlets shared painful news: Naomi Judd left her famous daughters Ashley and Wynonna out of her will. The problem is, nothing in the reporting suggests that’s the case. Famous singer Naomi, who died by suicide in April, apparently did have an estate plan that
Could I Face A Nursing Home Lawsuit for A Family Member?
A recent story we heard on the radio described a nursing home lawsuit against a family member of the resident. Several of our clients wondered: is this a real thing? Do I need to worry about a nursing home lawsuit, even if I’m not the one receiving care? Yes, it is a real thing. And
July Review: Taxes, Dementia, and Beer
Yes, that’s August right around the corner. So here’s our July review of developments in elder law: July Review of Planning & Taxes The IRS is now allowing surviving spouses five years to elect “portability” instead of just two. Survivors can claim their deceased spouse’s unused estate tax exemption without fancy planning up to five
Disabled Beneficiary Graduates; Trust Terminated
It’s not too often that a special needs trust beneficiary “graduates” from their disability. But a heartwarming Michigan case gave us a chance to reflect on the possibility this week. A little background: a special needs trust can be established for a beneficiary who is “disabled” by Social Security standards. It can even contain funds
ODB Estate: Not an Ordinary Administration
Celebrity estates, they’re just like ours. Or often not. And definitely not in the case of the ODB estate. Nearly 20 years after the death of rapper ODB, a/k/a Old Dirty Bastard, one of his kids is complaining that neither she nor her siblings have received a single distribution. Daughter Ashana Jones is the heir
Power of Attorney Did Not Grant Power to Create a Trust
How can someone create a trust? It seems like a trick question. In Arizona, someone can create a trust by signing a trust document, transferring assets, or by making a will with trust provisions. Arizona even permits someone to just declare a trust exists. But can an agent under a power of attorney create a
June Developments: Study Says Life Is Good, Eventually
Elder law isn’t exactly the hot legal topic of the moment, but we’ll still share some of the month’s developments anyway. The June review: Aging in America National Geographic and AARP paired up to do a major study of America’s attitudes toward aging. They covered six areas: health, money, happiness, relationships, life stages, and end
Modification of a Special Needs Trust
Is modification of a special needs trust possible? Even if the trust is irrevocable, and its terms are clear? The short answer is “yes” — at least in some circumstances. A recent Texas Supreme Court case illuminates the principles. And the story is pretty interesting, to boot. “Dick” Poe was a prominent businessman from El
Inheritance Advice: The ‘Times’ Got It Wrong
The New York Times is wrong. In a recent “Social Q’s” column, a reader asked for inheritance advice. The response was off the mark. (For the purposes of this article, we’ll call the questioner “Reader.” And though the column didn’t reveal Reader’s gender, for easy identification, we’ll assume Reader is female.) Reader describes the circumstances:
Beneficiary Deed Can Be Challenged For Undue Influence
Can a beneficiary deed challenge be based on alleged undue influence? Yes, in the same way that a will, a trust, or another writing could be challenged. A recent Arizona appellate decision spelled out some of the rules and details. But what is a beneficiary deed? First, a little introduction. Arizona is one of the
May Review: Aging, Taxes, and Betty White
It’s almost June, so it’s time to survey elder law news and commentary and share interesting developments. For the May review, we have news about Arizona’s elders, taxes, and Betty White’s estate sale: Challenges of Aging Arizona’s Auditor General issued a scathing report that suggests the Department of Health Services is doing little to protect
What About Planning for Your Crypto?
In our recent article about digital assets, we skipped over planning for your crypto. We encouraged getting your digital affairs in order by doing an inventory of all digital accounts so your estate administrators can manage your affairs without additional stress. Crypto requires even more care. The Crypto Basics Cryptocurrency and other “blockchain” assets such
The Corporate Transparency Act Is, Well, Opaque
You might not have read much about the Corporate Transparency Act (usually referred to as the CTA). The law, adopted by Congress on January 1, 2021, was part of a much bigger legislative package. Actually, its history is even more interesting than that, and worth mentioning before we describe the CTA and how it might
Summer Project: Get Your Digital Life In Order
Need a summer project? We have one for you: Get your digital life in order. An increasingly large part of our everyday lives happens the digital space. The Covid-19 pandemic accelerated our use of digital tools across the board. We use e-mail, apps, social media, and more every day. Plus, more people and institutions are