Elder Law Firm of Andrew Olsen

Post-Retirement Planning: A Checklist for Seniors

by admin February 20, 2018

Before retirement, many seniors carefully watch their finances and consult trusted advisors for guidance in timing retirement. However, careful planning doesn’t end with retirement. Seniors should ensure they are just as prepared for post-retirement as they were before leaving the work force. What follows below is a checklist for seniors and their families to ensure […]

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Top 10 Scams that Target Seniors

by admin February 1, 2018

While a person can become a victim of a scam at any age, the senior population is becoming more vulnerable to scammers.  Seniors make good targets because they generally have good credit and accessible savings.  Further, many seniors are alone or suffer from conditions like memory loss or frailty, which make seniors easier targets for […]

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Impacts on Elder Law and Estate Planning Under the Tax Cuts & Jobs Act

by admin January 15, 2018

Love it or hate it, the Tax Cuts and Job Act is now in effect as of January 1, 2018.  As pertinent to Elder Law and Estate Planning, the Act contains important provisions that govern gifting and planning. What follows below are highlights as to how estate plans could be impacted by the Act: Temporary […]

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The Most Important Document You Need for Estate Planning

by admin January 11, 2018

Now that the holidays have come and gone, family members often begin conversations about their aging loved ones and how to protect assets with estate planning documents.  For the young and old alike, however, the new year is a good time to be proactive about estate planning.  While a will or a trust may be […]

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The New N.C. Power of Attorney Act:  Its Impact on Estate & Elder Law Planning

by admin January 4, 2018

As of January 1, 2018, North Carolina’s new Uniform Power of Attorney Act will be effective.  This Act, signed into law this summer, provides significant guidance, clarity, and protection to those who use a power of attorney or those who act under one or those who are asked to accept one. A power of attorney […]

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As Options for Senior Housing Increase to Meet Seniors’ Needs, Rely on a Geriatric Care Manager

by admin December 15, 2017

With more than 40 million Americans age 65 or older, seniors comprise the fastest growing segment of the country’s population.  The U.S. Census Bureau estimates that by the year 2050, there will be 86.7 million seniors older than 65.  As these seniors age, their needs for living accommodations will also change.  As families navigate the […]

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Debunking Five Common Myths about Long-Term Care Planning

by admin December 1, 2017

When seniors and families start thinking about long-term care planning, a number of questions arise.  Some of the questions arise from common misconceptions about elder law issues or Medicaid.  These misconceptions are worth revisiting to debunk them once and for all. Myth 1: Medicare will cover my nursing home expenses. Medicare will pay some costs […]

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With November Comes Turkey, Alzheimer’s Awareness, and a Need to Proactively Plan for Aging Loved Ones with the Disease

by admin November 16, 2017

In the month of November for Thanksgiving, Americans of all ages gather to celebrate family, togetherness, and happy memories.  While there is much for which to be grateful, holidays can be especially difficult for those whose minds are fading faster than they should or for those families and caregivers who provide daily care to loved […]

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The IRS Increased the Thresholds for 2018 Estate and Gift Taxes

by admin November 2, 2017

Residents of North Carolina are fortunate to have no estate tax (the so-called “death tax”) enforced by the state upon their deaths.  However, if a North Carolina resident passes away with an estate of a certain size, federal gift and estate taxes could be assessed.  Each year, the Internal Revenue Service (“IRS”) updates the threshold […]

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The Caretaker Child: How Aging Parents Can Compensate Adult Children for Care at Home

by admin October 16, 2017

Caring for an aging parent can be a full-time job.  Adult children may give up paying jobs and leave their own homes and families in order to provide care to aging parents.  While caregiving can be unpaid work, parents who want to compensate an adult caregiver child may pay pursuant to a caretaker contract or […]

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