New York Trusts & Estates

When is an Elderly Man Not an Elderly Man? When He is Not a Resident in New City, New York

 

An elderly man - 85 years old - who travels between two residences, one in Australia and the second in the State of Washington, is suing Wells Fargo Bank for allegedly causing a $13 million loss through mismanagement of his trust. He was an income beneficiary of a California generation-skipping trust established by his grandfather. He brought an action for financial elder abuse, breach of fiduciary duty, breach of written contract and breach of the covenant of good faith and fair dealing against Wells Fargo, claiming that the bank deliberately refused to follow instructions from him in June 2007. But the judge decided that as a non-resident, he has no standing and is not an elder.

A judgment from the Santa Barbara Superior court was affirmed in an opinion by Judge Steven Perren of the California Court of Appeals. The court held that as a non-resident, Galt lacked standing to pursue such a claim for financial elder abuse because of his non-residency. This decision was reported in The Metropolitan News, in “Man, 85, Isn’t an ‘Elder,’ Under Statute, C.A. Rules.”

California Health and Welfare Code §15610.27 defines an “elder” as “any person residing in this state, 65 years of age or older.” Further, the Court of Appeals said in its opinion, that “[b]y his own admission, Galt does not reside in this state; consequently, under the plain meaning of the statute, he is not an elder.”

Judge Perren went on to explain that “Galt argue[d] the definition of ‘elder’ must be liberally construed to promote the Elder Abuse Act’s salient goals, but the only way to reach the result he advocates is to ignore the unequivocal statutory requirement that, to qualify as an elder, the person must ‘reside in this state.’…This would be no different than ignoring the requirement that the person be at least 65 years of age. Just as we cannot broadly interpret the statute to encompass persons under age 65, we cannot interpret it to include non-residents.”

Although the trust is situated in California, that alone was an insufficient basis for permitting the action. Perren explained “[t]hat the Trust has ties to California is irrelevant. Galt cites no statutory or decisional authority suggesting his position as a Trust beneficiary or manager grants him residency status.”

Mismanaging a trust is a serious contention, and no one wants to lose large sums of money and end up where Mr. Galt was. Speak with an experienced estate planning attorney about trusts and make sure that yours is done correctly.

For more information on Estate Planning, Trusts, Trusts and Estates, Asset Protection, Estate Planning Lawyer, Elder Abuse; please click to my website

Planning for the Future for a Family Member with Alzheimer’s Disease in Yorktown Heights, NY

When a loved one has Alzheimer’s, advanced planning for legal and financial matters becomes even more important than in day-to-day estate planning. Ideally, planning well in advance, before the disease has taken a toll on the person’s cognitive abilities, may give them an opportunity to express their wishes for their care. The debilitating nature of Alzheimer’s and other forms of dementia is extremely stressful for family members who are charged with being caregivers and decision makers. Planning early with the help of an experienced professional can alleviate some of the stress that results.

Caring for a loved one with Alzheimer’s or a different type of dementia is a challenge that requires a great deal of planning in advance. An article in The Lincoln (NE) Journal Staraddressed a number of financial, legal and medical care issues – “Planning the future of a loved one with dementia.”

You will encounter a number of costs in caring for a person with dementia. Planning for these expenses and costs throughout the course of the disease will involve examining all the costs you could possibly face now and in the future. These can include prescription drugs, personal care supplies, adult day care services, in-home care services, and residential care services.

Discuss financial needs and goals as early as possible. This way the person with the disease will be able to comprehend the issues, take a role in mapping out his or her objectives, and clarify their wishes. An experienced elder law attorney will have worked with financial advisors and will be able to point out potential financial resources, uncover tax deductions, and counsel against imprudent investment decisions. You may have these financial resources available to help you with the costs during the course of the disease:

• Health care coverage
• Long-term care insurance
• Life insurance
• Medicaid
• Veterans benefits
• Other public programs:

In addition, many states have state-funded, long-term care available, such as adult day care and respite care.

Legal capacity is the ability to understand the meaning and importance of a legal document, such as a power of attorney. A person suffering from dementia who has the ability to understand and appreciate the consequences of his or her actions to execute a document needs to be the decision-maker. As long as he or she possesses legal capacity, they should take part in legal planning. The article recommends these documents:

• Living will
• Power of Attorney
• Health Care Directive or Power of Attorney
• Will
• Living Trust
• Guardianship/Conservatorship

Talk to an experienced and qualified estate planning attorney if you have questions about elder care for your loved one.

For more information on   Elder Law Attorney, Elder Law, Guardianship, Living Trust, Power of Attorney, Health Care Directive, Living Will, Long-Term Care Insurance, Life Insurance, Medicaid, Veterans Benefits; please click to my website

 

The State of Kansas Teams Up Resources to Prevent Elder Abuse in Yorktown Heights, New York

In a new and dynamic partnership, The Office of the Kansas Securities Commissioner (KSC), the Kansas Department for Children and Families (DCF) and the Kansas Department for Aging and Disability Services (KDADS) has chosen this week to recognize World Elder Abuse Awareness Day (WEAAD). WEAAD is a global program created by the International Network for the Prevention of Elder Abuse and the World Health Organization. The primary goal is to provide people around the world with the knowledge and awareness necessary to prevent elder abuse in their communities.

Elder abuse comes in many forms, The Hays (KS) Post explains in a recent article titled “Agencies encourage Kansans to help prevent elder abuse in their communities.” There can be physical, financial, emotional, neglect, or abandonment, with several types of abuse often inflicted at the same time. Financial abuse is considered to be the most common form of abuse to elders, and costs its victims $2.9 billion a year.

Investment fraud is an area of concern because the victims can have their life savings wiped out with little or no opportunity to recover. Investment fraud can come in many forms, the article warns. The investment might be deceptive on its face, or it could be a legitimate product or service that’s unsuitable for the senior’s situation. Other investment problems include unregistered products, theft of funds, and products sold by an unlicensed adviser or broker. Investors and caregivers are urged to “investigate before investing” and to call the KSC at (785) 296-3307 to verify if the product and person selling it are legitimate and whether there’ve been any complaints.

Studies show that family members and caregivers are guilty of elder abuse in more than half of these cases. Anyone can, and should, report abuse of an elderly person in any of its forms—physical, emotional or financial. Isolation, loneliness and poor health can put elders in a situation of being at greater risk for these scams.

The DCF has really ramped up its focus on fiduciary abuse over the past few years and has a staff auditor dedicated to pursuing financial exploitation of vulnerable citizens with the help of law enforcement.

“It is the responsibility of every Kansan to report suspected abuse,” DCF Secretary Phyllis Gilmore said. “We strive to work closely with law enforcement and other agencies to protect vulnerable adults.”

For more information on Elder Law, Elder Abuse; please click to my website

Americans Are Living Longer. Planning for Future Medical Care Is Essential! In New City, New York

We understand people are living longer and many live into their 90s. More than 25 per cent of seniors living at home receive help with day-to-day living activities. Ten per cent of seniors older than age of 80 live in a long-term care facility. Have you made prudent plans for longer living?

Medical issues associated with aging are most apt to be the reason life gets expensive during your later years. It’s very useful to look forward and understand the types of medical issues that could happen down the road. That’s the advice from a recent article in the Oakville (ONT) Beaver titled“Living in your later years can be expensive – plan ahead.”Americans, just like our friends to the north, need to better understand how to plan for the future. This article gave some interesting perspectives on the aging process. Here are some facts:

• People are living longer and many live into their 90s.
• More than 25% of seniors living at home receive help with day-to-day living activities.
• More than 10% of seniors older than age of 80 live in a long-term care facility.
• One of the leading causes of injury to seniors is a result of a fall.

Also, the article points out that as we live longer, dementia can become a real medical reality. Research shows that dementia issues are low at age 65 but increase steadily until age 90 where they affect half of seniors. With adult children living far from their parents with both husband and wife working, there is less time available to be devoted to caring for an elderly family member.

Initially, care can be received from the healthier spouse, but that takes a toll. Also, some seniors are single, so this isn’t an option. Thus, aging seniors will be increasingly dependent on others.

An experienced estate planning and elder law attorney can help devise your financial strategy to ensure there are enough financial resources in the event you have increased medical and living expenses in your later years.

Aging is expensive. Talk to an estate planning and elder law attorney and plan accordingly.

For more information on Estate Planning, Asset Protection, Estate Planning Lawyer, Planning for the Future, Elder Law Paying for a Nursing Home, Long-Term Care Planning, Retirement Planning; please click to my webpage

Caregiving Expert Gives Advice on Advanced Estate Planning in Yorktown, New York

“I’m a caregiving expert, with more than 30 years of experience in the field of aging, so you’d think I’d be fully prepared for a loved one’s death, especially when that person is older or has been battling illness. Yet even for me, death caught me by surprise.”

There are many things caregiving expert Amy Goyer wished she would have asked before her mom and sister passed away.She says that it’s harder for her to feel that she totally lived up to her responsibilities as executor of their estates.

Her recent AARP article, titled “5 Questions I Wish I Had Asked Before They Died,”explains that she is going to ask her other sisters and other loved ones about this type of information now—long before she hopes she’ll ever need it. She has in place the proper advance directives, estate and financial planning, but she says that she’ll also be more thorough with the finer details. To that end, the author recommends asking these questions:

Where is important paperwork located? The author of the original article thought she had the most recent valid copies of her sister’s legal documents; however, that wasn’t the case. She had to search through mountains of paper! Your loved ones may know where their financial and legal documents are located—but that’s no help after they’re gone.

What are the details of what you want for your memorial service? Obviously with the stress of losing a loved one, any decisions about the service that can be made in advance are most helpful when relatives are deep in shock and grief. Discuss details with them like music, the service location, speakers, flowers, and food.

Who should get your personal items? The article urges you to catalog your collectibles, jewelry, and special mementos. Most people fail to list these items in their wills.

Who is in that picture? Many folks have stacks of family photographs of people who look familiar, but they’re not sure who they really are. To avoid this, label each photo when discussing it with your loved ones and hang on to that family history.

Finally, the original article stresses that you don’t let your hesitancy to talk about death keep you from bringing up these subjects with your family. Start the conversation early and have them often; it will help reduce the awkwardness.

Remember, as much as we hate to face it, death is inevitable for all of us. The better prepared we all are—in addition to the basic legal documents—the easier it will be when the time comes.

For more information about Estate Planning, Wills, Probate, Trusts and Estates, Inheritance, Estate Planning Lawyer, Power of Attorney, Probate Attorney, Planning for the Future; click to my website http://www.parkertrustlaw.com/

Reference: AARP (March 19, 2015) “5 Questions I Wish I Had Asked Before They Died”

James Earl Jones Discusses Elder Law Topics on “In America” in Yorktown, New York

"In America" will discuss elder law and the way that legal standards and details are changing over time.

What exactly is Elder Law? Why is this so important for Americans?

Elder law is a general term that describes the laws and regulations that affect older men and women. This term can relate to the proper care and guardianship of an older person who requires medical attention and can no longer function without assistance. The recent Insurance News Net article, titled “Elder Law is discussed with host James Earl Jones on "In America,” notes that the range of topics elder law addresses includes divorce among adults over 65 years old and law regarding elder abuse.

Elder law attorneys for individuals, or for their loved ones, advocate for their clients’ rights and personal goals. They handle details related to estate planning, retirement, government programs like Social Security and Medicaid, and guardianship when a senior is unable to deal with his or her own personal affairs. This also includes long-term care, nursing home issues, and end-of-life planning.

Because this is such a broad category of laws and the effects of those laws differ based on the circumstances, elder law attorneys provide services that focus on the specific goals and concerns of older men and women. The options that are available to an individual or their family will depend on the situation and the person's health. This is why it’s a good idea to speak to an experienced elder law attorney to discuss your particular situation and your objectives.

You can find information about elder law on "In America" with host James Earl Jones. This is a good introduction and can get the discussion going. However, to get concrete answers for your or your loved one’s situation, seek the help of an experienced elder law attorney.

For more information about Planning for the Future, Elder Law, Medicaid, Medicaid Planning, Paying for a Nursing Home, Long-Term Care Planning, Retirement Planning, Medicaid Divorce; click to my website http://www.parkertrustlaw.com/

Reference: Insurance News Net (March 16, 2015) “Elder Law is discussed with host James Earl Jones on "In America"”

Get These Documents in Order before Dementia Strikes in Yorktown, New York

Accounting for the possibility of your own and your loved one’s eventual mental incapacity is a key part of any estate plan. If your loved one appears to be showing signs of diminishing mental acuity, ask if he or she has the proper documents in place. If so, find out who his or her agent(s) are so that you can alert them.

What if you or a loved one develops dementia? If you didn’t have the mental capacity to take care of yourself or your finances at some point, what would happen? You need to be prepared.

A recent articlein Physician’s Monthly Digest, titled “Dealing With a Loved One’s Cognitive Decline Is Simpler with Right Legal Documents in Place,”says that a healthcare proxy and a durable power of attorney are key legal documents to have before there are any signs of mental incapacitation. The documents allow you to designate another person to make medical and financial decisions on your behalf once you are unable to do so. This can be your spouse, an adult child, a friend, or a trusted adviser. Without a power of attorney, your spouse will need a court order to access any non-joint accounts that you have.

You should also draft a living will, or advance directive. That way your agent and your healthcare staff will have your instructions as to whether to administer life-sustaining medical treatment if you are in the late stages of dementia, terminally ill, or near death. The living will can take the burden off of your loved ones when it comes to making tough medical decisions like whether to keep you on life support or not.

You should also entrust someone else with the power to take control of your affairs with a healthcare proxy and power of attorney. These documents will only become effective when your medical staff decide you lack the wherewithal to make medical and financial decisions for yourself. The laws for these type of documents vary from state to state, so talk to an experienced elder law attorney about how it works where you live.

The original article also recommends that you make sure your loved ones not only know about these important documents, but also where you keep them. You should give copies of the executed documents to your appointed agents, and give copies of your healthcare proxy and living will to your healthcare providers. This simple step can help your doctors ensure that your wishes are respected.

Ensuring that you have the appropriate documents in place will give peace of mind to you and your loved ones. Contact an experienced elder law attorney. He or she can help you define your goals and can draft the documents accordingly.

For more information about : Estate Planning, Wills, Trusts, Guardianship, Probate, Trusts and Estates, Asset Protection, Probate Court, Inheritance, Estate Planning Lawyer, Power of Attorney, Tax Planning, Probate Attorney, Elder Law, Elder Law Retirement Planning, Disability, Incapacity, Dementia; click to my website http://www.parkertrustlaw.com/

 

Reference: Physician’s Monthly Digest (February 27, 2015) “Dealing With a Loved One’s Cognitive Decline Is Simpler with Right Legal Documents in Place”

Mr. Cub’s Dementia Causes Much Debate over Estate in Yorktown, New York

Ernie Banks died on January 23rd at age 83 from a heart condition.  Interestingly, his death certificate listed dementia as a “significant condition contributing” to his death.  Why is that important? Well, three months before he died, Banks signed a new set of estate planning documents, including a power of attorney, healthcare directive, new will, and a trust.

Ernie Banks signed a new set of estate planning documents that left his caregiver and talent agent, Regina Rice, in control of everything. This new will and trust totally left out his family members and named Rice as his sole beneficiary. Rice would stand to inherit not only whatever assets and wealth Ernie Banks accumulated during his life, but the right to control (and profit from) his name, likeness, and image.

Since Banks had dementia and made these changes a mere three months before his death, his children are planning to take Rice to court over Banks’ estate.

Forbes reports in a recent article, titled “Estate of Ernie Banks In Turmoil As Caregiver Claims To Be Sole Heir,” that the Banks children are claiming Rice coerced their father to sign the new estate planning documents, by controlling and manipulating him, using her position of trust and confidence to take advantage of his dementia to their detriment.

The parties already have been slugging it out over Mr. Cub’s wishes. Banks said in multiple past interviews that he wanted to be cremated when he died and have his ashes spread over Wrigley Field. His ex-wife, along with his children, sued to stop the cremation and won the right to have Banks buried. Interestingly, even though the couple was estranged and in the middle of divorce proceedings, Banks’ wife still was considered his next of kin, which gave her the right to control his burial arrangements.

As far as the fight over controlling his image and inheriting his assets, the Forbes article points out that it will certainly be much more complex and drawn out than the duel over how to bury the baseball great. Individuals can leave their assets to whomever they want, but they must be of sound mind and free from what the law calls “undue influence.” Families often fight over whether a will truly represented the decedent’s wishes, or whether it was signed under coercion, manipulation, fraud, or other improper influence.

Since Rice was in a position of trust over Banks, the law says that it is assumed on a preliminary basis that she did exercise undue influence. She’ll need to show that she did not commit undue influence, instead of the children being required to prove she did.

Although it remains to be seen how this will end, it’s already certain that this is a tragedy for the legacy of a baseball icon. Unfortunately, this isn’t uncommon. This type of fighting and court action occurs frequently up and down the economic ladder.

You can prevent an estate battle in your family with the help of an experienced estate planning attorney long before a loved one has dementia or is possibly mentally incompetent.

For more information about Estate Planning, Wills, Trusts, Guardianship, Probate, Trusts and Estates, Asset Protection, Probate Court, Inheritance, Estate Planning Lawyer, Power of Attorney, Tax Planning, Will Changes, Probate Attorney, Elder Law, Elder Abuse; click to my website http://www.parkertrustlaw.com/

Reference: Forbes (February 19, 2015) “Estate of Ernie Banks In Turmoil As Caregiver Claims To Be Sole Heir

Elder Abuse Is a Real Problem, and We Need a Solution!

How big a problem is impossible to say, because hard data is scarce. “The reality is that we don’t even have national data on the scope of the problem,” Sen. Claire McCaskill (D-Mo.), said at the hearing.

It has been found that much of the financial abuse involving seniors goes unreported. According to a New York State Elder Abuse Prevalence Study, only one in 44 cases is reported. And knowing that makes for a real problem when reviewing some of the data we do have.

It’s a problem that Kathleen Quinn, Executive Director of the National Adult Protective Services Association, called “rampant, largely invisible, expensive and lethal” at a recent Senate Special Committee on Aging hearing on the subject. In fact, as reported in a recent Forbes article titled “Why Elder Financial Abuse Is Such A Slippery Crime,” a new study asserts that financial elder abuse costs $36.5 billion annually—more than 12 times the figures that MetLife has published in the past few years.

Each type of fraud has a different age spectrum. Investment scams peak around age 65, and work-from-home scams, dating scams, weight loss, and most Internet scams are more common at a bit younger age. Finally, theft by family members peaks much later.

While attempting to determine the extent of financial elder abuse is difficult, curbing it is even tougher. Elder abuse frequently will involve overlapping types of crimes, such as neglect and physical and sexual assault. Further, many caregivers, family members, financial services employees, and police officers simply are not trained in preventing, detecting or dealing with financial exploitation of the elderly. Add to this a lack of coordination between agencies and professionals, and you can see the scope of the issue.

Fortunately, our government is getting more involved. The 2015 White House Conference on Aging has made “elder justice” one of its four tracks. Also, a government working group known as the Elder Justice Coordinating Council, the Department of Justice, HHS’s Administration for Community Living and the Consumer Financial Protection Bureau’s Office for Older Americans have teamed up to gather data and create materials for professionals and family members. The Securities and Exchange Commission is also getting more involved. Its first Investor Advocate says one of his agency’s priorities is to give financial service professionals more effective tools to protect clients whenever an adviser or registered representative suspects financial or other abuse of a vulnerable client.

For more information on Elder Abuse, Guardianship, Asset Protection, Estate Planning Lawyer, Probate Attorney, Elder Law, Financial Elder Abuse; click to my website.

Reference: Forbes (February 13, 2015) “Why Elder Financial Abuse Is Such A Slippery Crime”

 

Elder Abuse Accusation in DJ Casey Kasem's Estate Feud in Yorktown, New York

"Detectives are still actively investigating the elder abuse case," LAPD spokesperson Jane Kimtold THR. "They want to be as thorough as possible before a case is presented to the DA's office."

The hits just keep coming in DJ Casey Kasem’s estate battle.

The Hollywood Reporter quoted private investigator Logan Clarke in its recent article titled Casey Kasem's Daughter Demands LAPD Arrest Widow for Elder Abuse. "

According to Clarke, [Jean Kasem] took Casey on a five-day odyssey:

“They ran out of food, bought a six-pack of Ensure at a drugstore, poured it into the feeding machine, and jammed it -- and they're saying this woman didn't kill him? The nurse in the car took pictures of his colostomy bag full of blood. The cops have all the evidence. Belle Chen at the DA office told me she'd love to have a crack at this case. LAPD should be ashamed.”

Jean Kasem has claimed Casey's death was Kerri Kasem’s fault. She removed him from life support because his 2007 health directive said to do so if life support "would result in a mere biological existence, devoid of cognitive function, with no reasonable hope for normal functioning"

"They all have blood on their hands," said Jean Kasem.

Kerri Kasem says that’s not true and she has started a foundation, Kasem Cares. She also supports Assemblyman Mike Gatto's legislation (AB 2034) that would allow a judge to rule on visitation [when a spouse forbids family members to see a loved one], instead of forcing family members to go through the very costly conservatorship process. In addition, it takes time, and your loved one could be dead.

Between Kerri Kasem and Jean Kasem, they have reportedly hired 13 sets of lawyers and spent more than $650,000 in legal fees—which is just one more point of contention. They are now fighting over who should pay court costs.

For more information about Estate Planning, Wills, Trusts, Guardianship, Probate, Trusts and Estates, Probate Court, Estate Planning Lawyer, Power of Attorney, Probate Attorney, Long-Term Care Planning, Retirement Planning, Special Needs, Elder Law; click to my website http://www.parkertrustlaw.com/

Reference: The Hollywood Reporter (February 02, 2015) “Casey Kasem's Daughter Demands LAPD Arrest Widow for Elder Abuse”