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Immigration Policy Could Affect Home Healthcare Market Providers

Published on: April 6, 2018 | by Ettinger Law Firm

The Trump administration recently issued a directive to revoke the Temporary Protected Status (TPS) for tens of thousands of immigrants from poverty stricken countries living in the country, many of whom who have found roles in the home healthcare market. With the cost of in-home and assisted living facility growing every year, the change could potentially add to those costs and put seniors and the disabled in a more difficult financial situation.

Approximately 59,000 Haitians came to live in the United States after the 2010 earthquake which devastated the country. Nursing homes and in-home care providers are already reporting staffing shortfalls as immigrants who found employment in their sectors have returned home for fear of forced deportation after losing their legal status. Even despite the threat of deportation, many immigrants working in nursing homes and as in-home health aides do not stay long in these jobs as they find professions in much higher paying sectors of the economy.

In Boston, Massachusetts for example, some elder care providers are speaking out about the selfless, hard work that their immigrant employees living on TPS status perform for long hours and modest pay. With many coming from nations where the witnessed humanitarian crises and seek to give back as part of the aid they themselves received in their times of need.

Assisted Living Facilities in Many States Have Little Federal Oversight Despite CMS Funding

Published on: April 1, 2018 | by Ettinger Law Firm

The dream of Americans is to age with dignity and independence while enjoying their golden years with family and friends and avoiding the need for any type of long term institutionalized care. However, trends in aging show that more and more Americans these days are relying on some type of intermediate institutionalized care before eventually moving into a nursing home to receive the attentive services they need.

However, despite receiving an estimated $10 billion in federal funding from the Centers for Medicare and Medicaid Studies (CMS), states encounter little oversight from regulators over the quality of care residents receive. Furthermore, over half the states do not report “critical incidents” to the federal government that include unexplained deaths, abuse, neglect or financial exploitation. All of that is according to a recent report from the Government Accountability Office (GAO).

Advocacy group Justice for Aging issued its own response to the GAO report to highlight the lack of accountability from many states and facilities receiving CMS funding. The directing attorney for Justice in Aging went as far as to point out that even among the 22 states that do provide the federal government with data on critical incidents the information is hard for the public to obtain and may not even illuminating enough.

How the New Tax Laws Could Help your Estate Planning Goals

Published on: March 13, 2018 | by Ettinger Law Firm

The new tax laws taking effect in 2018 give both individuals and couples even more flexibility to plan for their estates and ensure the largest possible part of their estate goes to beneficiaries on a tax-free basis. While the changes will remain in effect until 2025, families should start formulating estate plans now in order to take the greatest advantage possible of the reforms and craft the best possible plan for the future.

The tax reform bills substantially increases the individual estate and gift tax exemption from $5.6 million to approximately $11.2 million and up to $22.4 million for a married couple. After December 31, 2025, the numbers will revert back to their 2017 numbers adjusted for inflation. However, law makes no changes to the 40 percent tax rate currently imposed on transfers in excess of the exemption amount.

With the new changes, wealthy individuals and couples should consider immediately making large gifts or create trusts to maximize their federal estate and gift tax exemptions. Having the ability for married couples to transfer up to $22.4 million can benefit multiple generations of family members and avoid any future additional wealth transfer taxes. Furthermore, those who have already expended their gift tax exemptions prior to the end of 2017 will now have an additional $11.2 million to work with.

How to Future of Elder Care Could Take its Toll on Millenials

Published on: February 1, 2018 | by Ettinger Law Firm

A recent article by the New York Times covered some of the trends in aging and the economy that could have a tremendous impact on how families, particularly women and millenials, care for elder family members in the future. While it is no secret an increasing percentage of America will become older with the wave of Baby Boomers entering their golden years, the societal and economic impacts are less discussed and more profound.

According to data cited in the article, an estimated one in five working age adults in the U.S. is retired, approximately 15 percent of the population. Of those retirees, as many as 14 million adults may not be able to live independently and require some sort of in-home or skilled nursing care to survive.

Experts studying the issue believe the burden of caring for older family members may be one reason by women have less earning power over all than men. The article points out that about a quarter of women 45 to 64 years old and one in seven of those 35 to 44 are caring for an older relative.

Does New York Offer Paid Family Leave?

Published on: January 29, 2018 | by Ettinger Law Firm

Starting January 1, 2018, most employees who work in New York State for private employers will be eligible to take paid family leave to care for a newborn child or a sick family member. If you are a public employee working for the state, your employer may choose to offer paid family leave so check to see if your office is eligible.

Governor Andrew Cuomo signed the law in 2016, giving New Yorkers the country’s strongest and most comprehensive policy for paid family leave. As a result of the bills passage, working families will no longer have to choose between caring for their loved ones and risking their economic security.

New York’s Paid Family Leave provides job-protected, paid time off so workers can:

Health Officials Say 2018 Flu Season Could be Among the Worst in Years

Published on: January 22, 2018 | by Ettinger Law Firm

The Centers for Disease Control (CDC) recently put the country on alert, warning that this year’s flu season and the H3N2 virus could be one of the worst in recent years as hospitals experience record setting hospitalization rates. Physicians for the CDC warned Americans over the age of 65-years old are being hospitalized at a higher rate than any other segment of the population and elders need to take care to ensure they do not fall victim to complications with the virus.

CDC Director Dr. Brenda Fitzgerald cautioned that although infection rates appear to be peaking, many more Americans will be diagnosed with the flu in the coming weeks before flu season ends across the country. While recent years have been categorized as “active” flu seasons, where large numbers of people become sick, this year is expected to be “severe” with an unusually number of patients being diagnosed with some form of the flu virus.

Fortunately, this year does not appear as though it will be as bad as the 2015 flu season where infection rates were as high as 29.9 people out of every 100,000. The flu typically hits populations at the ends of the spectrums, the very young and the very old, with at least 20-children succumbing to the virus this season so far. The only silver lining to these tragedies is that the numbers are far less than in years past, 110 last year and 92 in 2016.

Financial Risks to Your Estate

Published on: January 16, 2018 | by Ettinger Law Firm

With all of the discussion surrounding repealing the estate tax and other significant tax reforms, it can be difficult to understand exactly how these proposed changes might affect your estate. For most people in the United States, the estate tax is not a concern. That is because you need an individual estate worth $5.49 million or more before the tax will even apply. However, there are still a number of other concerns to keep in mind in order to make the most informed decisions about your estate plan because there are a number of other factors that could impact the overall value of your estate. A recent article from Financial-Planning.com helps put some of these risks into perspective.

Intestacy

One of the biggest risks to assets in an estate is dying without an estate plan in place to protect them. While your estate may not be subject to the federal estate tax, it could be subject to significant state-level taxes and those penalties can take a large chunk of your assets if you do not have an estate plan in place. Intestate succession will also determine the percentage of your assets that will be distributed to the heirs covered by your state’s intestate succession statute. This may not be in line with how you want your assets to be distributed, so making sure that you have a valid and up-to-date estate plan is the first step in avoiding any hidden financial risks that could impact your assets.

Estate Planning Is for Everyone

Published on: January 14, 2018 | by Ettinger Law Firm

It is a common misconception that estate planning is only a concern for those individuals with sizeable estates. This is simply not true. Everyone can benefit from comprehensive estate planning, even individuals with average or small estates. A recent article from CNBC reminds us of the importance of having a Will regardless of our overall financial situation, age, or other factors that may lead us to believe a Will is not necessary.

Engaging in Estate Planning

As the article points out, even a checking account and a car present a reason for having a Will regardless of any other assets that might exist. The law requires that title to that vehicle must be changed to whomever the new owner is and there must be someone to distribute the assets in your checking account. Absent a Will, you risk losing a great deal of assets to the state either by default because of failure to nominate an heir or because of the legal costs involved in the probate process where those assets will end up.

Estate Planning and Funeral Arrangements

Published on: January 11, 2018 | by Ettinger Law Firm

Regardless of the size of your estate, comprehensive estate planning can help you make the most of the assets you have worked hard to build. It is important to make sure that you take a thorough approach to estate planning in order to preserve as many assets as possible, and also to make sure that you make dealing with a loss as easy on your family members and friends as possible. One of the most common ways to do that is to include funeral arrangement and instructions for the disposition of your remains. There are a number of approaches to doing this, and ultimately the terms you set forth will be unique to you and your family’s wants and needs. However, a recent article from the National Law Review provides some helpful information about this aspect of estate planning.

Pre-Death Arrangements

Most states allow you to iron out many of the details of your funeral arrangements and the disposition of your remains ahead of time. In many cases, these are integral pieces of a comprehensive estate plan. You can dictate whether you wish to be buried or cremated; specify the location of your burial; specify any memorialization; and even designate one individual to make sure your funeral arrangements and the disposition of your remains are conducted in the way you have chosen. Depending on the state you live in, nominating an individual to carry out your particular wishes gives them priority over other individuals that would otherwise potentially have the right to make these decisions for you. This can be helpful because, no matter how carefully you plan, it is impossible to predict all of the circumstances that could arise and you will want someone that you trust in the position to determine the best course of action. More and more, these types of arrangements are becoming commonplace alongside powers of attorney and healthcare directives. In many ways, completing this type of directive can be just as important – and it will likely help your family avoid additional stress and grief during a difficult time.

Debt and Estate Planning

Published on: January 9, 2018 | by Ettinger Law Firm

Debt is an all-too-common part of our everyday life. In fact, Marketwatch.com lists American personal debt – including homes, student loans, and auto loans – at approximately two billion dollars. This figure does not include credit card debt. However, as daunting as debt may seem, making sure to consider your debt when determining how best to engage in comprehensive estate planning is an important part of your debt management strategy.

Understanding Your Debt

One of the first things to consider when approaching debt and estate planning is whether your debt will become someone else’s responsibility when you die. An article from NerdWallet.com helps shed some light on what happens to various types of debt after the individual responsible for that debt passes away. Some common examples of debt and what may happen to that debt include: