NOVEMBER 7, 2011 VOLUME 18 NUMBER 38 A woman has been diagnosed as suffering from dementia of the Alzheimer’s type, and she resides in an assisted living facility. She has short-term memory loss, is frequently forgetful and has difficulty with tasks like playing cards and operating her television set. Can she sign a new will?…
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OCTOBER 31, 2011 VOLUME 18 NUMBER 37 Floyd Spence, a Republican Congressman from South Carolina, was a long-time survivor of a heart-lung transplant and a (separate) kidney transplant when he died in 2001, at the age of 73. He was survived by his second wife, Deborah Spence, and four adult sons from his first marriage…
OCTOBER 17, 2011 VOLUME 18 NUMBER 36 Lawyers are ethically prohibited from charging excessive fees. Period. It doesn’t matter if the lawyer has a fee agreement calling for an excessive fee. It doesn’t matter if the negotiated fee seemed reasonable at the time, but turned out to be excessive as things developed. It doesn’t matter…
OCTOBER 17, 2011 VOLUME 18 NUMBER 36 John and Marsha, contemplating marriage, want to enter into an agreement spelling out what will happen to their separate and community property if they later divorce, or when one of them dies. Or perhaps John and Marsha have been married for years, but are contemplating separation and maybe…
OCTOBER 3, 2011 VOLUME 18 NUMBER 35 Last week we tried to demystify some of the principles of self-settled special needs trusts, and to distinguish them from third-party trusts. This week we continue that education effort, focusing on the rules governing third-party trusts. Generally speaking, there are two kinds of special needs trusts. Those set…
SEPTEMBER 26, 2011 VOLUME 18 NUMBER 34 There is so much confusion about the difference between “self-settled” and “third-party” special needs trusts, that we want to try to explain and simplify some of the key concepts. Here are some of the most common questions (and misunderstandings): What is the difference between “self-settled” and “third-party” special…
Protecting Your Parents’ Money: The Essential Guide to Helping Mom and dad Navigate the Finances of Retirement Published: August 2011; paperback 260 pages Author: Jeff D. Opdyke — Financial columnist; wrote the Love & Money column; author of 6 books; 17 years at The Wall Street Journal writing about personal finance, family finance and investment…
SEPTEMBER 19, 2011 VOLUME 18 NUMBER 33 It’s frankly a little hard to explain why trust lawyers get excited about the subject of this week’s article. After all, it seems to be about who will pay for the new doors in a home renovation in a pricey suburb of Phoenix. The bill was large —…
How to Retire Happy, Wild, and Free (Retirement Wisdom that You Won’t Get From Your Financial Advisor), by Ernie J. Zelinski Reviewer: Nova D. Muhlenberg Bonnett, Esq. September 2011 Ernie Zelinski’s title is so very promising, particularly coming on the heels of his previous book, The Joy of Not Working, and his third work, Career…
: “The Successful Retirement Guide: Hundreds of Suggestions on How to Stay Intellectually, Socially and Physically Engaged for the Best Years of Your Life,” Kevin R. Price, Rainbow Books, Inc. 2009 Reviewed by Frederick C. Rieck, attorney This book was not a happy choice. In retrospect, it is clear that the title should have warned…