Money & Law

This hour, Marci Lobel-Esrig introduces SilverBills, a Nationwide Concierge Bill Manager. Marci is its founder, CEO and General Counsel. One of the most challenging...

So many of us have a loved one that may have special needs, a disability. Maybe a spouse has just been diagnosed with dementia and needs care, and they're afraid of losing their house or their money. If you're in that situation, or maybe your parents are, or a child that has special needs, this episode will be important. Elder law attorney Andrea Lee from Legacy Estate Planning joins Suzanne to talk about special needs trusts and how people can protect their own resources.

Probate is a court process to retitle assets. Probate is designed to create a “final accounting” upon death. It is the legal process of “proving up” a will, or verifying that a will is valid, takes place in one of two instances. First, if a person dies leaving behind a will, or second, if the deceased has died intestate, that is, has not left behind a will or estate plan of any type or the will cannot be found. Estate planning attorney Steve Waltar with Legacy Estate Planning joins Suzanne to give us a primer on probate.

Elder law attorney Andrea Lee from Legacy Estate Planning joins Suzanne to talk more about special needs trusts, comparing first party special needs trusts and third party special needs trusts.

COPES: The Washington State Medicaid Program can help a Senior Fund Long Term Care. Current trends in Long Term care provides a staggering representation of...

Suzanne and Lindsay introduce Michael Banner, founder of the 62 Who Knew podcast and retirement planning platform, to explore one of the biggest challenges facing older adults today: how to prepare financially for longevity. The question many families are beginning to ask is no longer simply, "Can I retire?" but rather, "Can my money support me throughout a longer life?"

Incapacity planning is a broad area of law that covers how you are cared for if you become physically or mentally unable to care for yourself. Andrea Lee from Legacy Estate Planning joins Suzanne to talk about issues individuals and families face in regards to incapacity. The type of care could range from simple tasks like buying groceries, paying bills, and handling financial matters to more important decisions such as selling real estate, gifting assets to your children, or making critical medical decisions. Incapacity planning could include a number of techniques such as Property Powers of Attorney, Health Care Powers of Attorney, Living Wills or Advance Health Care Directives or Guardianships/Conservatorships. It is also important to have appropriate HIPAA authorization forms in place.

Rob Haynie joins Suzanne Newman on the Answers for Elders Radio Show to talk about selling your life insurance policy for cash. Rob serves on the Board of Directors of the Life Insurance Settlement Association (LISA) and is a charter member of the Association’s PPC committee, which is charged with the regulatory and legislative activities of the industry. The Managing Director of Life Insurance Settlements, Inc., he has been proactively in the industry for more than 31 years.

A lot of people choose not to get married. They cohabitate, they mix assets, they'll buy a home, and some even have retirement plans. There are many legal protections for married couples, but some of those protections don't extend to individuals who live together, such as Social Security, Medicare, Medicaid benefits. If an unmarried couple decides to live together, they ought to discuss how to protect each other, and consider how do you protect yourself if you choose to live with a partner. Elder law attorney Andrea Lee from Legacy Estate Planning joins Suzanne to talk about protections and estate planning for unmarried couples.

Hear some examples from Rob Haynie of what people have done with the proceeds from selling their life insurance policy. Rob describes a family who had been donating money to a ballet center, but were running low on funds around 2008. "They were able to write off the donation while they were alive. And they also were able to go to the ballet center and see their name above the doors as you walked in for a number of years, before they passed away."