Can a Health Care Agent Complete a MOLST?
If a patient has been determined to lack capacity, then an agent under a Health Care Proxy can complete a Medical Orders for Life-Sustaining Treatment (MOLST) on their behalf.
How Will Decisions Be Made If I am Incapacitated? Part 2: Guardianship
In a previous blog, we discussed the important documents—healthcare proxy, living will, and power of attorney—that allow you to appoint people to make healthcare, legal, and financial decisions on your behalf should you become incapacitated. If you have not finalized those documents before you become mentally or physically unable to make decisions, then a guardianship proceeding will take place.
I Signed My Trust—Now What?
It’s a common mistake for people to assume that after creating a trust, their work is done. If your assets are not properly titled to the name of the trust, a whole host of issues can arise when the time comes for trust to be administered. What’s worse is that the purpose for creating the trust could be defeated by failing to properly fund the trust.
How Do I Disinherit Someone in My Will?
Oftentimes when creating an estate plan, it is requested that a family member or friend be disinherited. There are many reasons why one would chose to disinherit someone. Perhaps the person creating the estate plan has already provided the family member or friend with gifts during his or her lifetime. Perhaps he or she wants to avoid disqualifying the person from government benefits. There might have been a falling out between the individuals. Or there might be tax reasons for wanting to disinherit.
No matter what the reason is, it is important to understand the potential pitfalls of disinheriting someone.
Are Hospitals Required to Inform Patients About Medicare Observation Status?
The federal government recently addressed a very expensive glitch in the systematic treatment of patients in hospitals throughout the country, which mandates that hospitals provide notice as to a patient’s observation status.
As we discussed in our blog post on May 31, 2013, “Status Does Matter: Observation v. Admission”, there is a big problem that many Medicare recipients have been facing: patients are footing the bill. The problem is that patients are footing the bill for rehabilitation services in a skilled nursing facility when they are under the impression that these services are covered by Medicare. At the heart of the problem is that the hospital never actually admitted the patient, and coded them with a status of “under observation.”
Leaving Money in a Charitable Trust or Will (Part 2)
Why should you contact the charity that you are planning to name as beneficiary?
People often wish to leave money to charities. This blog contains real-world scenarios in which individuals leave assets to charities:
Example #1: Tom has no children and no living relatives. His net worth is about 10 million dollars. Realizing his estate would be taxable, he wanted to strategically make a bequest to his alma mater, the church that he attends, and a hospital that he credits with saving his life.
He contacted his alma mater to inform them of his intentions. He signed a letter of intent specifying the dollar amount of the gift he intended to leave. As a result, the college named an endowment after him, with the funds to be used to create a scholarship.
He spoke with the pastor at his church about his intentions, and he was able to hear about the good work that the church will be able to do as a result of his gift.
New York ABLE legislation awaits Governor’s approval
The New York State Assembly and Senate recently passed Achieving a Better Life Experience (ABLE) legislation that will allow families the opportunity to set up tax-free 529A savings accounts for disability-related expenses. The legislation is currently awaiting Governor Andrew Cuomo’s…