Posted Jan 10, 2019 by Joan Keston
As seniors near age 65, there are often important decisions that they must make about their Medicare election. Unfortunately, most people fail to seek good advice about maximizing their benefits under this program.
Medicare is not automatic; you must sign up and make elections inside the system. These elections can be more complicated than you may think. It’s important to start investigating what options are available before you’re eligible. With Medicare, you can sign up several months before you turn 65. Unfortunately, if you don’t sign up in advance, you will be penalized.
Understanding the different parts of Medicare
Medicare Part A is provided to most seniors at no additional cost, as they have contributed to the system throughout their working years. The only people who must pay for coverage are those who have not worked enough quarters during their working years, or those who can’t get coverage through their spouse.
Posted Nov 12, 2018 by Joan Keston
When you do a General Durable Power of Attorney you are naming someone to handle your legal and financial affairs. That person is called your Agent. When you do a Health Care Power of Attorney you are naming someone to make your medical decisions when you cannot make them yourself or communicate. That person is called your Health Care Agent.
Both the Agent and Health Care Agent are fiduciaries, meaning by law they are required to act on your behalf and not for there own benefit. However, you want to make sure that whoever is handling your financial affairs is both someone you trust and someone who will use your assets to care for you in the best way possible. You also want to make sure that whoever is making your medical decisions will be there for you and knows how you want to be cared for, particular in relation to end of life decisions regarding treatment.
Posted Oct 1, 2018 by Joan Keston
With expanding technological advances changing nearly all aspects of our daily lives, it should be no surprise that our investing habits are also evolving with technology. A rising trend in fintech (i.e. technological innovation in the financial sector) has become the buying, selling and trading of cryptocurrencies.
So, what is cryptocurrency?
Even though it may sound like some evil method by which movie villains conduct business, cryptocurrency (or virtual currency, as it’s often called) is defined by the U.S. Commodities Futures Trading Commission (CFTC) as
> “…a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value…”
Posted Sep 4, 2018 by Joan Keston
Guns are important possessions to address when dealing with estate planning and the probate process. As an Executor of someone’s will you need to understand and follow correct procedures when dealing with guns. There are federal laws as well as state laws that must be considered. The state law considered specifically below is North Carolina state law.
There are 3 basic categories of guns:
- Long guns, i.e. shoulder fired weapons
- National Firearms Act weapons: automatic weapons, short barrel rifle (<16”), short barrel shot gun (<18”), silencers/suppressors
Posted Aug 6, 2018 by Joan Keston
I have listed the following books on my website as resources for information, treatment and research regarding Alzheimer’s. I would highly recommend reading these books if you are concerned about Alzheimer’s. There is a great deal of agreement among the authors of these books, but the road ahead for treatment and prevention is still a long one.
- [Stop Alzheimers Now] by Bruce Fife, N.D.
- [Alzheimer's Disease, What If There Was a Cure?] by Mary T. Newport, M.D.
- [The End of Alzheimer's] by Dr. Dale Bredesen
- [Grain Brain] by Dr. David Perlmutter
In general, two areas of treatment cited in these books are dental care and diet, things that are within our control. Gluten and sugar are to be avoided, and healthy fats and oils (especially coconut oil) are beneficial. In addition there is a great deal of discussion about ketogenic diets, cholesterol, avoidance of carbohydrates, fasting and intermittent fasting, toxins, heavy metals, etc.
Posted Jul 5, 2018 by Joan Keston
Families frequently come to our law office seeking help for a long-term care crisis. Long-term care needs cause the loss of independence and the depletion of assets and they know we can help. In one instance, a couple saved enough cash and retirement assets to support them for their lifetime. However, one spouse’s chronic illness required daily assistance that ultimately led to nursing care. Even though the nursing care was expensive, the spouse was confident their assets would hold out without impoverishing her. Unfortunately, without an asset protection plan in place the couple’s assets quickly diminished. The spouse didn’t seek help until she panicked over running out of money. Her big mistake was waiting until their resources were low. We got her husband on Medicaid within a few weeks, but if we had seen her two years earlier we could have preserved almost all of their assets while getting Medicaid, and she could have enjoyed plenty of money for the rest of her life. Wh...
Posted May 1, 2018 by Joan Keston
The ABLE account is a new financial tool for individuals with disabilities created by the Achieving a Better Life Experience Act of 2014. It was adopted in North Carolina on August 11, 2015. The Act amended the Internal Revenue Code of 1986 to create a tax-free savings account for individuals with disabilities. In addition, the funds in an ABLE account do not count toward the $2,000 cap on assets that is required to remain eligible for critical government supports.
Basically the account can hold up to $100,000, and a maximum annual contribution of $15,000 can be made to the account. An individual can contribute earned income into the account. Friends and family can also make a gift to an ABLE account, and this gift would not count as income to the individual. Most importantly, an individual can have an ABLE account and still qualify for SSI, SSDI and Medicaid.
Posted Apr 2, 2018 by Joan Keston
There are many reasons why using a revocable trust-based plan may be more
advantageous than planning with a last will and testament to distribute your estate at
your death. Many people are opposed to doing a trust, but the advantages can
greatly outweigh the burden of having a trust.
It is extremely important that you transfer your assets into the trust, which process is
called "funding the trust." Many people have a trust, but have not transferred their
assets into the trust, with the result that the trust is ineffectual.
These are some of the reasons why we might advise having a Revocable Living Trust:
- Wills operate at death and can be changed by an individual at any time until then. Unless there is a trust within a will, called a testamentary trust, the will does not control distributions beyond the circumstances that exist on the day of death. Revocable trusts operate once executed, can be changed at any time until death ...
Posted Mar 8, 2018 by Joan Keston
Scammers and hackers are constantly targeting seniors; every year, they use more sophisticated technology to steal our personal information. The scariest attack uses voice modulation software; the criminals have a friendly but recorded conversation with anyone, such as your Pastor. Then they use that conversation to create a false conversation-then you get a call from your "Pastor" asking for your credit card information to help with an emergency at the Church. Since you are familiar with your Pastor's voice, your guard is down and you are likely to give out the information. Fortunately, there are some easy steps you can take to increase your protection.
Posted Feb 14, 2018 by Joan Keston
From being a totally independent person to living in a Skilled Nursing Home
By: Sissy Weisbrook
We are a middle class family and my Mom had some money, so we had no idea that government benefits might be available to folks in our situation. We now live in fear of running out of money. I started working for Keston Law and only then learned about benefits. I decided to write this article because I have learned so much about what many of us will face or do face with aging parents or other loved ones and how daunting the task can be. If you have never been in the world of nursing facilities it can be an overwhelming maze unless you have some prior knowledge or even know what to look for. The most important thing you can do is to be prepared, ask questions, and keep asking questions. That way you will make better, well informed decisions.
Go see an Elder Law Attorney and get your affairs in order.