This program will introduce you to the digital world through technology education and hands on experience in a fun and relaxing environment. Each class is an open discussion. This is a FREE event hosted by The Law Office of David Carrier, PC. Bring your questions and we will be sure to help you!

tech tuesday classDates: All Classes are held on the 2nd Tuesday of each month

Time: 9:00AM—11:00AM

CLICK HERE to sign up now!

Location: The Law Office of David Carrier
4965 East Beltline NE
Grand Rapids, MI 49525
Space is limited so reserve your seat TODAY!

2017 Class Schedule and Topics

  • February 14—An Introduction to Google: We will discuss setting up a Gmail account, using Google to search the web and go over features you may not know about!
  • March 14—Internet Basics: Discover how to find online resources, Connect to WIFI when you’re away from home and how to safely browse the inter-net.
  • April 11– Cell Phone Basics: Learn how to ad-just your settings, create contacts, send text messages, download apps and MORE!
  • May 9—Computer Basics: This class with teach you how to navigate your computer, shut down or get online. Bring your questions!
  • June 13– Social Media Overview: Interested in Facebook, Pinterest, Twitter? We will assist in in-troducing you to the wonderful world of social media.

While anyone can fall prey to a scam, many con artists choose to focus their attention on the elderly. Michigan seniors may find themselves the target of any number of scams involving Medicare, insurance, and estate planning. It is important to recognize the signs of a potential scam so you (or a loved one) can avoid becoming just another victim.

Identity Theft

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According to the Kaiser Family Foundation, nearly 1.9 million Michigan seniors are enrolled in Medicare, the federal health insurance program for people age 65 and older. A popular scam involves a person claiming to work for the government contacting a Medicare recipient and telling them they “need a new Medicare card.” The scammer solicits the victim’s Medicare and Social Security numbers and then uses that information to commit identity theft.

The Federal Trade Commission, which identifies and prosecutes such scams, advises all seniors to stop and contact Medicare directly (1-800-MEDICARE) before giving out any personal information over the phone.

Medicare Billing Fraud

Another common Medicare scam involves nursing homes and other health care providers. Since Medicare reimbursements are based on procedures performed, many providers treat older patients as a license to print money by ordering tests, equipment, and even surgical procedures that are medically unnecessary. Federal prosecutors have identified billions of dollars in Medicare fraud over the years as the result of such procedures.

If you have an elderly relative in nursing or long-term hospital care, it is a good idea to keep records of every procedure performed and the provider’s justification. Also, do not hesitate to ask questions if you suspect a provider is ordering unnecessary procedures. Such actions may assist prosecutors and Medicare officials in identifying fraud.

Estate Planning Scams

The Michigan Attorney General’s office also cautions seniors about the perils of a popular estate planning scam involving annuities. An annuity is a financial product sold by an insurance company. The purchaser makes a lump-sum or periodic payment to the insurer in exchange for receiving future payments.

In theory, an annuity provides a senior with a reliable income stream. But in practice, annuities are not suitable for all investors. There may be significant hidden costs and tax penalties depending on the structure of the annuity. The annuity’s benefits may also not be fully realized for many years, which makes it a poor option for a senior who requires a more liquid investment strategy.

Unfortunately, since annuities are usually sold by brokers working on commission, they may not take your individual needs into account, even though the law requires them to do so. Rather than serve the client, they serve themselves by convincing a senior to sell their existing assets and put everything into a riskier annuity. Some annuity brokers go so far as to sell their products as a form of estate planning, even though they are not attorneys licensed to practice in Michigan.

The best way to avoid such scams is to work with a qualified Michigan elder law attorney who will give you independent advice based on your unique situation. Contact the Law Offices of David L. Carrier, P.C., to schedule a consultation today.

If you are currently thinking about estate planning and are considering purchasing life insurance, it is important to consider a number of different options. As an article in Consumer Affairs explains, while many Americans decide not to purchase life insurance (some simply because they do not recognize its value), a life insurance policy “can provide financial help to your family by covering final expenses in the event of a death.” Life insurance is extremely important for any family to consider regardless of the family size, but as that article points out, “many people are underinsured or have the wrong policy, especially women who are the primary breadwinners for their family.” As you may already know, there are a number of different life insurance options that can be particularly valuable for seniors, although no single insurance policy can be best for all persons in a specific age group.

What should you know when choosing a life insurance policy? First, we will discuss tips for choosing a life insurance company. Then we will discuss life insurance policy options.

How Should I Choose My Life Insurance Company?

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When you are deciding between and among different types of life insurance policies, how can you know which is best to suit your individual needs? There are many different kinds of life insurance products, and as you age, your specific life insurance needs probably will shift. As such, from the start, you should be sure to consider the following issues:

  • Whether your insurer has options for upgrading or downgrading your policy: given that needs to indeed change over time, particularly as Michigan residents age, it is important to work with an insurer on a policy that can be upgraded or downgraded, according to the Consumer Affairs article, as your individual needs change.
  • Whether your insurance company is stable: as the article points out, since purchasing a life-insurance policy is a “very long-term proposition,” it is essential that you pay for a policy that will be able to provide for your family years down the road. To be sure, according to Consumer Affairs, the “need for company strength and stability cannot be overemphasized.” As such, you should check ratings for your insurer through AM Best, S&P 500, Weiss, and Moody’s. In addition, you should explore the rating history of the insurer and whether there have been significant changes in the ratings over the years (particularly a decline). And finally, you should investigate the company’s financial statements to ensure its stability.

What Life Insurance Options Are Available?

What are some of the different policy options you can choose? The following are examples of a wide variety of insurance products:

  • Term life insurance: this type of life insurance policy is a structured policy that provides a benefit for a particular number of years. Typically, this is among the least insurance, or most affordable options.
  • Universal life insurance (UL): this policy is a cash value life insurance policy. It is also one type of permanent policy, which means that it is designed to last for the entirety of your life (in other words, it will not expire). It accumulates cash over time, which means that you may be able to borrow against the life insurance policy. Since insureds can borrow, tax-free, against a UL policy, the premiums often are higher than or other types of policies.
  • Whole life insurance: this policy also is a cash value policy and is the another type of permanent policy. But, unlike a UL policy, the premiums are fixed.
  • Variable life insurance: this type of policy is also a permanent policy, but it is different from the others in that there is more risk. This policy “invests in mutual funds providing potential greater returns (and losses),” according to the Consumer Affairs article.
  • Survivorship life insurance: this type of policy is another form of permanent insurance, and couples purchase this type of policy most often. It pays a benefit after both persons pass away.
  • Contact a West Michigan Estate Planning Attorney

    If you have questions about life insurance policies and the options that are best for you, do not hesitate to speak with an experienced Michigan family trust lawyer. An advocate at our firm can speak with you today. Contact the Law Offices of David L. Carrier, P.C. to learn more.

Losing a loved one is difficult under any circumstances, and it can be challenging to think about financial issues when you are coming to terms with the death emotionally. Yet it is important for families of veterans to know about burial veterans for benefits and some of the services they may be eligible for after losing a loved one. Even if the death is not service-related, the U.S. Department of Veterans Affairs still provides benefits for families of former service members provided that certain conditions are met. What else do you need to know about burial benefits for veterans and how this matter relates to estate planning in Michigan?

Simplification of Veterans’ Burial Benefits from the U.S. Department of Veterans Affairs

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According to a news release from the U.S. Department of Veterans Affairs, changes to burial benefits went into effect in July 2014, and those changes were aimed at “simplify[ing] the program and pay[ing] eligible survivors more quickly.” With those new regulations, the VA was permitted to pay a flat rate for burial, plot, or interment allowances. In brief, the VA recently changed its regulations to make the process of obtaining burial benefits for veterans more streamlined.

To make clear the specific types of burial benefits for which veterans can be eligible, the VA provides a fact sheet that clarifies who is eligible and the amount that can be paid out.

Who is Eligible for Burial Benefits?

Typically, as the fact sheet explains, an eligible surviving spouse will be paid automatically when the VA is notified of a veteran’s death, and that eligible spouse will not need to submit a claim. Generally speaking, however, is a surviving spouse has not been paid automatically, then the first living person among the following that files a claim will be paid:

  • Surviving spouse of the veteran;
  • Survivor of a legal union with the veteran;
  • Veteran’s child, whether minors or adults;
  • urviving parent(s) of the veteran; or
  • Executor/Administrator of the veteran’s estate.

Amount of VA Benefits for Veterans

The amount that the VA will pay in burial benefits for a veteran depends upon whether the death was a service-connected death or a non-service-connected death. First, we can explain the benefits for a service-connected death. What does service-connected mean? In brief, the death must have occurred during active military service. If the veteran’s death occurred on or after September 11, 2001, then the burial allowance from the VA is $2,000. For deaths that occurred before September 11, 2001, the burial allowance is $1,500. A survivor can also be eligible to receive some form of reimbursement for transporting the remains of the veteran if the veteran is buried in a VA national cemetery.

How much can the VA pay in burial benefits for a non-service-connected death? The answer to this question depends on a number of different factors, including the date of death and whether the veteran was receiving care from a VA hospital at the time of death. For veterans not hospitalized in a VA hospital at the time of death, the amount of the burial benefits depends largely on the date of death. The available benefits are as follows:

  • If a death occurred on or after October 1, 2016, the VA burial allowance is $300, plus $749 for a burial plot;
  • If the death occurred on or after October 1, 2015, but prior to October 1, 2016, the burial allowance is $300 and $747 for a burial plot; and
  • If the veteran’s death happened on or after October 1, 2014, but prior to October 1, 2015, the burial allowance is $300 with an additional $745 for a plot.

If the non-service-connected death occurred while the veteran was hospitalized by the VA, then the burial allowances go up to the same amount as the plot allowance. As such, for a death that occurred on or after October 1, 2016, the VA will pay a burial allowance of $749, along with $749 for the plot.

Contact a Grand Rapids Estate Planning Lawyer

If you have questions about burial benefits for veterans, an experienced Portage probate lawyer can assist you. Contact the Law Offices of David L. Carrier, P.C. today.

With Donald Trump’s election and pending inauguration, many Michigan residents may be wondering about how some of the laws and regulations that Trump wants to put in place may affect your estate plan. What do some of these plans entail? And how can you prepare for these changes? In short, for the wealthy, Trump’s promise to repeal the estate tax may impact tax-related estate-planning measures for the very small percentage of the wealthy for whom the current estate tax has an impact. However, when we consider estate-planning measures concerning nursing home care, and the use of Medicare and Medicaid, many seniors may have reason to be concerned. According to a recent article in Forbes, “the election of Donald Trump, along with continued Republican majorities in the House and Senate, will likely result in major cuts in federal programs that benefit older adults and younger people with disabilities.”

Estate Planning, the Estate Tax, and Middle-Class Americans

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As a recent article in the Wall Street Journal explains, Trump’s plan for estate-tax repeal, if it happens, “will give a tax cut to the very wealthiest millionaires and billionaires,” given that the current exemption is $5.45 million per person, or $10.9 million (double the individual exemption) per married couple. Most Michigan residents simply will not be impacted by the estate tax one way or another, and instead are thinking more about how they will be able to afford nursing home care and other medical treatments under the Trump administration.

If Trump’s plans with regard to the estate tax, or taxable gifts, may impact you, it is important to speak with a lawyer about creating a will regardless of how Congress will take action under Trump, and to avoid taxable gifts. But more importantly for a larger number of Americans, what might the Trump administration mean for Medicare, Medicaid, and nursing home costs?

Understanding Federal Funding for America’s Seniors

As a report from MarketWatch explains, one of Trump’s key promises has been to cut federal spending. But who will this impact most? As the report clarifies, “the biggest chunk of the budget, by far, goes to Americans who are over 65 years old.” To be sure, “in fiscal 2017, Social Security and Medicare alone will cost $1.7 billion.” Moreover, “just over a fifth of all Medicaid also goes to the over-65s—for example on nursing home costs for those who have run out of assets.”

In order to be eligible for Medicaid benefits, an elderly person must use up most of their assets in order to qualify. Given that nursing home care is so expensive, it is usually not difficult for many seniors to be eligible for Medicaid benefits for nursing home care costs. According to a fact sheet from Genworth, the median annual cost of care in an assisted-living facility in Grand Rapids is $45,450. For a semi-private room in a nursing home in Grand Rapids, the median annual rate is $93,075. And the cost of a private room in a Grand Rapids nursing home is even higher. To be sure, the fact sheet cites the median annual rate from 2015 as $101,105.

As the Forbes article explains, it is not yet clear whether—and to what extent—the Trump administration will make cuts to Medicare and Medicaid, both programs that help seniors. In the meantime, family members may need to consider financial planning to help pay for care for elderly loved ones. And it is not too late to look into long-term-care insurance options that may be able to help cover costs in the future.

Discuss Your Options with a Grand Rapids Estate Planning Lawyer

If you have questions about how Trump’s election can affect your estate planning, it is important to speak with a Norton Shores estate planning attorney as soon as possible. Contact the Law Offices of David L. Carrier, P.C. to discuss your options.

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