Boomers More Likely To Carry Mortgage Debt Into Retirement

Massachusetts elder law attorney John Gosselin was heavily quoted in a Banker & Tradesman article discussing Boomers likelihood to carry more mortgage debt into retirement. A Mortgage After Retirement Isn’t A Problem – It’s A Plan By Jim Morrison | Banker & Tradesman Staff Baby Boomers are more likely to have a mortgage when they retire than the generation born between the mid-1920s and the mid-1940s, according to new research from Fannie Mae. While that trend worries some economists, other experts say post-retirement debt can be a smart move. “The increasing prevalence of housing debt among older homeowners could compromise Continue Reading

Oldest living Narragansett Indian on the tribal rolls

Eleanor Dove, known as Pretty Flower, is the oldest living Narragansett Indian on the tribal rolls. She once worked as an artist model at the Rhode Island School of Design; her work was used by a sculptor for a piece that appeared at the New York 1939 World’s Fair.  Eleanor married Ferris Babcock Dove; he was the Naragansett war chief and assisted the tribe in gaining federal recognition. Together,  Eleanor and Ferris ran a popular restaurant called Dovecrest which also acted as a community kitchen to Naragansett tribal members in need. The Dovecrest became the Tomaquag Museum which is dedicated Continue Reading

Being engaged and staying active are parts of the puzzle to longevity

Mr. Azriel Blackman, age 92, recently entered the Guinness Book of World Records for the longest career as an airline mechanic. He also holds a record for being a mechanic for 75 years for American Airlines where he still works 5 days a week. For the complete article about Mr. Blackman, follow our link to the NYT article. For 75 Years, a Mechanic Has Helped Keep Planes Aloft By Christine Negroni | New York Times Article Azriel Blackman, an airline mechanic for American Airlines, is not allowed to climb ladders, drive on the airfield at Kennedy International Airport or even Continue Reading

Simple Spousal Case

Elderly client’s wife was in hospital due to failure to thrive and was being discharged to rehabilitation.  Concerned that his limited finances would be depleted when he would have to private pay for his wife’s care in a nursing home, he sought our firm’s assistance.  By working diligently with him to structure his assets, we were able to get him and his wife eligible for MassHealth within three weeks.  Our client was able to retain the maximum amount allowed for a community spouse, while also converting an insurance policy and an annuity to a Medicaid compliant annuity to generate a Continue Reading

Could a text you send be your will?

Technology has outpaced the law. In the United Kingdom, the Law Commission is proposing a radical overhaul of inheritance laws so that people will be able to use notes, voicemail and text messages to make their wills. Current UK law regarding wills dates back to 1839; it states that a will needs to be written and signed by the testator as well as two witnesses to be valid. The new proposal would give new powers to county and high court judges to to decide on the balance of probabilities whether a recording or note could be an accurate summary of Continue Reading

When it comes to banking, words prevail over numbers

When writing a check, what does the bank pay out of your account – the words you write out or the numbers in the box? Madeleine Maldonado, age 81, found out the hard way when she wrote out “three thousand three hundred and 99/100” but entered “$3399.91” in the amount box on her check to pay for her annual long-term care insurance premium. The invoice was for $3399.91 but her bank paid the amount written so her payment was short $98.92. Her insurance company cancelled her policy for nonpayment 3 months later after not hearing from her or family members Continue Reading

G.O.P. Republicans are weighing options for new health bill

G.O.P. Republicans are weighing options in order to gain support for their proposed health bill including keeping a tax on high income people and providing more money to combat the opioid epidemic and a new incentive for people to establish tax-free savings accounts for medical expenses. Another proposal they are considering would allow insurers to sell cheaper less comprehensive health plans if they also offered health plans that complied with consumer protection standards like those in the Affordable Care Act. If the proposed bill passes, what is sure is that projected Medicaid spending would be reduced 35 percent after 20 Continue Reading

How will possible cuts to Medicaid affect you?

How will possible cuts to Medicaid affect you? It depends on which state you live in as different states have different budgets for Medicaid especially as their coverage of home-based and community-based care for older adults. What experts agree on is that states will compensate additional cuts in services if the proposed Federal cuts pass Congress. Follow our link to read the entire NYT article. Plan on Growing Old? Then the Medicaid Debate Affects You By Ron Lieber | New York Times These are the stories we tell ourselves: I will never be poor. I will never be disabled. My Continue Reading

Proving Age Discrimination Is Difficult

As baby boomers continue to work past retirement age, age discrimination lawsuits are becoming more common. Two out of three workers between ages 45 and 74 say they have seen or experienced age discrimination, according to AARP. However, experiencing it and proving it are two different things. The federal Age Discrimination in Employment Act (ADEA) forbids employers with 20 or more employees to discriminate against people who are age 40 or older. The law prohibits an employer from discriminating in hiring, firing, wages, job assignments, promotions, or any other aspect of employment. It is also illegal to harass employees based Continue Reading

Testamentary Trust

Children came to the office because their father was in rehab with an upcoming discharge to the nursing home, and their mom was in the early stages of Alzheimer’s disease.  The children were concerned about getting their father the appropriate long term care, while also trying to protect mom so she could remain in the community until she would have to go to long term care.  Our office began preparing a MassHealth application and structuring their assets to protect them for the community spouse.  While in rehab, our client began failing and had to be rushed to the hospital.  When Continue Reading