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WILL YOU REALLY NEED LONG TERM CARE?

By Edward H. Adamsky             “The potentially catastrophic consequences of becoming disabled and needing long-term care is arguably the gravest financial risk that older adults face” says an Urban Institute report. But, will it happen to you? And, if so, have you saved enough money to pay for it? These are the worries we all face as we age. This is a worry even for younger folks because an accident or illness could trigger the need for care at any time.             The Urban Institute report shows that even though there are 6 million older Americans who need assistance with their activities of daily living, only about 500,000 folks are actually in nursing homes. Some use paid at-home care and many rely on unpaid family care. It seems that your chances of needing and paying for expenses care are relatively low. The stated average cost in the report is $138,000 for the average person over 65. That is a cost that could be sustained by many people, but a devastating number to so
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IRS gives filing extension to Boston area.

Below is the text of the news release by the IRS.  In summary those who live in Suffolk County (Boston) Massachusetts, and some others affected by the terror attack on the Boston Marathon have three extra months to file without penalty.  If paying late they may still owe interest, but no penalties.  Those affected can file as late as July 15, 2013.  WASHINGTON — The Internal Revenue Service today announced a three-month tax filing and payment extension to Boston area taxpayers and others affected by Monday’s explosions. This relief applies to all individual taxpayers who live in Suffolk County, Mass., including the city of Boston. It also includes victims, their families, first responders, others impacted by this tragedy who live outside Suffolk County and taxpayers whose tax preparers were adversely affected. “Our hearts go out to the people affected by this tragic event,” said IRS Acting Commissioner Steven T. Miller. “We want victims and others affected by this terrible tr

New Scam Targets Elderly - Obamacare

Con-Artists often target the elderly as they are often compliant with requests from official sounding people and will more readily give out information.  Now elders are getting calls from scammers saying there is a new national health care ID card and asking them to verify information - including bank account numbers.  Make sure you do not respond to such a request.  Never give out personal information to a person who called you. There is more information on this scam at the FTC website.  (Link below). www.consumer.ftc.gov/blog/variations-scheme

Stratfor - When Things Go Bad

I regularly read reports from Stratfor - an information service that comments on world affairs, terrorism and even personal safety.  This report is good reading to help anyone survive a bad situation. I thought it was worth repeating. When Things Go Bad By Scott Stewart Over the past several weeks, we [Stratfor] have discussed a number of different situations that can present a common problem to people caught up in them. First, we discussed how  domestic terrorism remains a persistent threat  in the United States, and that despite improvements in security measures since 2001,  soft targets still remain vulnerable to attack  by terrorist actors driven by a variety of motivations. Due to the devolution of the jihadist threat toward the grassroots, there is also a growing trend of jihadist actors using armed assaults instead of bombing attacks. We also discussed the  continuing problem of workplace violence , and finally, we discussed last week  evacuation plans for expatriates

New Website and Blog

You can now view my new legal blog directly on my website at  Adamsky Law Offices .  But, I don't want to give up my Blog here at Blogger, so now I'm going to use it for things other than Elder Law and Estate Planning. I can now give you news and commentary that doesn't really belong on my law office website.  I hope you stay tuned for whatever I may have to say.  And, to give you a taste, here is a rant about pedestrian safety: Why do people insist on walking on the wrong side of the road?  Don't they teach pedestrian skills in school anymore.  I guess not, as it now seems that most, if not all, children, ride in a vehicle to school.  In case you don't know, the rule is that you are supposed to walk facing toward oncoming traffic, that is, you walk on the left side of the road.  Why is this?  Because, you can then see the oncoming traffic and take evasive action if necessary. If you walk on the right side of the road, you may hear cars coming up behind you, but y

Only one EIN per day!

The IRS has announced that representatives (lawyers, and others like me) can only obtain one tax ID number per day from now on.  They are known as Employer Identification Numbers or EINs and they are used for trusts, estates, businesses, and other entities that need a number for tax purposes but are not a person with a Social Security Number.  The announcement did not say that individuals cannot get more than one per day, just representatives. In most cases, this won't be a problem for me.  I usually only get one at a time when an estate or trust is created and needs one. But, there have been occasions when we created two trusts or two LLCs in one day and wanted two numbers.  Now it will take another day to get them (unless I ask the client to do it for him or herself.) The stated reason was to make the system work fairer and more smoothly.  I guess a few people were gumming up the system with lots of EIN requests. I don't know who those people were, but they have ruined it

Death Certificates

            You may not think that death and paperwork go together, but of course they do. The thought of death is difficult for most people to consider, but eventually it happens. And, in today’s complex modern society, paperwork and its details are always important. After death, one critical piece of paperwork is the record of death. The “vital information” regarding the person who has died is recorded with the city and state. The family members are given a certified copy of the official record and that is what we commonly call a Death Certificate . Accurate information is crucial. Errors can cause problems later on. Usually the Funeral Director will be completing part of the record and you may be asked to provide much of the information that goes in it. This may include: ·          The full name of the decedent (the person who died) his date of birth and perhaps even his social security number (although most states have stopped using it on Death Certificates). A name sounds easy,