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Disturbing Network of Theft and Fraud Targeting the Elderly
This is a story that any professional working with seniors finds particularly abhorrent. An investigation by the New Jersey State Police and the Division of Criminal Justice uncovered a scheme by a New Jersey woman, her sister and several others—including an attorney—to steal millions from elderly clients they were supposed to be helping. The story was reported by New Jersey 101.5 in “NJ woman pleads guilty to scamming millions of dollars from the elderly.”
Eight Florida Districts Experiment with Eldercaring Coordination
Caring for a vulnerable parent or spouse can become a huge problem when siblings and relatives are busy doing battle with each other instead of taking care of their family member. In extreme cases, which are more common than you might imagine, the situation can escalate until a guardianship procedure is the only solution.
Work the Numbers Before Gifting Stock to Grandchildren
Grandchildren are often a big part of estate planning, as there are certain advantages to passing assets along to the youngest generation in the family. For individuals who have owned blue chip stocks with high values for several decades, when and how to gift these stocks requires a detailed analysis of the tax implications.
2016 Brings a Big Birthday for Baby Boomers
Seventy may not exactly be the new 50, but it’s not that far off. According to a recent article in Money,“Happy 70th Birthday, Boomers!” researchers say that members of this generation – born from 1946 through 1964 – are healthier from a physical and mental standpoint than previous generations. This also means that the oldest boomers, who will turn 70 in 2016, are more likely to see their 85th birthday. Their grandparents at 70 had only a 28% chance to reach age 85. Want to feel even better? More than one in 10 of the oldest members of the baby boom generation will live to age 95, compared to their grandparents’ generation of only three in 100.
A Lesson in Procrastination: James Gandolfini
The irrevocable charitable lead trust is a trust that cannot be amended, revised or cancelled, and it might have been a good idea for preventing James Gandolfini’s estate from being “whacked” by estate taxes. Financial website thestreet.com took a closer look at this powerful estate planning tool in “How to Protect Your Estate From Getting ‘Whacked’ Like James Gandolfini’s”.
