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Do you have enough assets and income to take care of your immediate family and donate to one or more of your favorite charities?
A great question to ask, especially in today’s economic climate, but it is exactly because times are hard, that I am asking. We’re all good people as a whole and when we’re passionate about one or more charities, well they become just like family to us.
A good number of my clients would like to leave a portion of their estate (even if it’s small) to one or more of their favorite charities but they don’t know how to do it! They are concerned that there won’t be enough left for their families. This is a valid concern but there are a number of options available that can make charitable gift-giving a “win-win” for all!
Here are some options to consider:
- Charitable Gift Annuities allow you to retain an income stream
- Charitable Trusts allow you to save income taxes today and estate taxes later on
Not only will you help your favorite charity but you can save income and estate taxes. If you’re thinking about charitable gift-giving, the first step you need to take is to determine which charities you would like to help out and in what way. Let me know what you think! Tell me about some of your favorite charities.
As many as 5.3 million Americans have it and it is the seventh leading cause of death. You may think it’s an “older” person’s disease; however there are 250,000 Americans who have it - under age 65. And thanks to Scott Kirshbaum’s documentary, we can get a first-hand account of the toll a wandering mind takes on the person without control.
We’ve heard the countless, heart-wrenching stories about the effects Alzheimer’s has on family members, friends and caregivers, but we've never seen the actual disease be the only “star” of the story, until now.
Scott Kirshbaum’s documentary You’re Looking at Me Like I Live Here and I Don’t is currently airing on PBS’ Independent Lens http://yourelookingatme.com/ program and it is a simple and bold introspection into one woman’s battle with this disease.
This film zeros in on the daily routine of one woman, Lee Gorewitz, who lives in a residential care center in Danville, California. According to Neil Genzlinger of The New York Times, “Kirschbaum catches glimmers of self-awareness in Ms. Gorewitz, indications that she recognizes her diminished capacity and knows there’s nothing to be done about it.”
On my television show, Family Comes First, we met the Henley Family where we focused on “Alzheimer’s Impact on Family.” Mike Henley was diagnosed with Early Onset Familial Alzheimer’s at age 36 and passed away at the age of 46 this past February. He bravely fought this disease but clearly, much more needs to be done.
Having to take care of a family member who has been diagnosed with Alzheimer’s disease can be a heartbreaking proposition. But there are many who refuse to give up and decide to take care of their loved one at home. We can find hope and strength from family and resources that are available in our community.
We must do our best to combat this horrible disease. As founding chair of the legal advisory committee of the Alzheimer’s Association Long Island Chapter (http://www.alz.org/longisland/) , we are available to help families take care of a loved one who has Alzheimer’s.Effective IMMEDIATELY, New York State has "EXPANDED" Medicaid Estate Recovery.
- Life Estates
- Revocable Trusts
- Certain Irrevocable Trusts
Everyone with a Life Estate or Irrevocable Trust needs to take action to ensure that their assets are protected.
The time to act is NOW!
- Contact us Immediately for a Consultation
- Attend one of our Free Seminars
- Participate in our Free Webinars
Many seniors have Powers of Attorney, but do you have the right one? This is a very important question because no one has the right to make financial decisions for you, unless you have legally appointed a person with the authority to act for you. The best way to give that legal authority is by executing a Comprehensive Durable Power of Attorney.
Family Comes First 2010 Fall Season
The moment has arrived.....
The Fall 2010 Season of Family Comes First™ Exclusively on Telecare TV
Cablevision, Channel 29 and 137 / Verizon FiOS TV, Channel 296
Family Comes First 2010 Fall Season
The moment has arrived.....
The Fall 2010 Season of Family Comes First™ Exclusively on Telecare TV
Cablevision, Channel 29 and 137 / Verizon FiOS TV, Channel 296
A Break Thru - On Reverse Mortgages
Seniors want to live at home and independently and why not? In our experience, the most important and valuable asset is one's home. So, how does one protect the home while also accessing Medicaid for long term care and a Reverse Mortgage for living expenses?
Ask The Expert
Thanks to Lynn Brenner of Newsday for her column, Ask the Expert. On November 5, 2010, she responded to a question regarding how to protect mom's home if mom needs Medicaid nursing home care. The daughter informed Ms. Brenner that her mother is 93 years of age, in failing health and her daughter has lived in mom's house since 1995.