| Elder
Law Center, P.C. |
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May
2009
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| In This
Issue |
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Free Senior Workshop |
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Hear Connie speak on May 20, 2009, at a free seminar "Solutions for Financial Challenges of Today's Senior" in Oswego, IL. To RSVP, call 630.554.3411. Visit our web site at www.elderlawpc.com for more information. |
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Be Aware of the Dangers of Joint Accounts
Many
people believe that joint accounts are a good way to avoid probate
and transfer money to loved ones, and such accounts are sometimes
referred to as "the common person's estate plan." But while joint
accounts can be useful in certain circumstances, they can have dire
consequences if not used properly.
Nursing Home Residents May Keep $250 Stimulus Payment
The
$250 stimulus payment for Social Security beneficiaries, which is
scheduled to arrive by the end of May, will not be considered income
to nursing home residents on Medicaid.
Nearly Two-Thirds Face Risky Retirement Due to Long-Term Care
Costs
A new report by the
Center for Retirement Research at Boston College finds that nearly
two-thirds of U.S. households are at risk of being unable to
maintain their standard of living in retirement when possible
long-term care costs are taken into consideration.
Tips for Preventing, Detecting, and Reporting Financial Abuse
of the Elderly
As the economy worsens,
incidences of elder financial abuse are reportedly on the rise. The
elderly are particularly vulnerable to scams or to financial abuse
by family members in need of money.
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| Disclaimer:
The information contained in this newsletter is not intended
as legal advice and should not be relied upon to answer any
specific questions concerning your own circumstances or for
purposes of legal planning. For specific legal advice, please
contact our offices. |
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