Prevaricating Politicians Or Your Own Eyes?

Day Follows Night, Dog Barks At Cat, Imbeciles Tank Economy, Imbeciles Who Tank Economy Lie Offer Creative Analysis

U.S. Bureau of Economic Analysis (your tax dollars at work!) dished up some new numbers this week. For the last six months, your tax-paid public servant experts say the economy has shrunk. Is there a word for a shrinking economy? An economy that has been shrinking for six months? Begins with an “R”? Rhymes with “depression”? Nothing comes to mind? No matter.

Some old guy in Washington, D.C. says this means “All is well.” Reassuring! Don’t you feel better? Sadly, New York’s mayor Eric Adams did not get the memo. He disagreed: “We are in a financial Our Super Expert crisis like you can never imagine.” “Wall Street is Credit: Mad Magazine collapsing; we are in a recession.”

recession chart aug 2022

Friends of the old guy in Washington, D.C. had a friendly chit-chat with the mayor. “Nice city ya got here, mayor. Shame if anything happened to it.” Adams then told reporters that “Up is Down. Left is Right. Orange is Blue.” The mayor further explained, “We’re dealing with tough economic times, but we’re going to get through it, because I trust in the [old guy in Washington, D.C.].” Reassuring! A gaggle of other tax-paid bureaucrats, including the Treasury Secretary, Council of Economic Advisors, and White House spokespersons echoed the sentiment.

How can words change meaning so conveniently? Alice, our investigative journalist consulted with expert wordsmith Humpty Dumpty and filed this report:

“When I use a word,” Humpty Dumpty said in rather a scornful tone, “it means just what I choose it to mean—neither more nor less.”
“The question is,” said Alice, “whether you can make words mean so many different things.”
“The question is,” said Humpty Dumpty, “which is to be master—that’s all.”
***
“Oh!” said Alice. She was too much puzzled to make any other remark.

Something We All Agree On:
“The Government Is Corrupt and Rigged Against Everyday People Like Me”

The University of Chicago’s Institute of Politics has some smart folks. What with all this division and disagreement, they wondered whether there was any common ground. So, they did a Polarization Poll to find out. They asked: “The government is corrupt and rigged against everyday people like me.” Agree or disagree? Most independents, strong Republicans, Democrats, and self-described “very liberal” people all agreed. Shocking!

How in the world could majorities of Americans across the political spectrum concur that “The government is corrupt and rigged against everyday people like me.”? Here’s a crazy thought: Maybe the government is corrupt and rigged against everyday people. Like you. Maybe it is all a self-perpetuating scam. Nah, that cannot be the explanation. Could it?

Mortgage Madness Continues

Like New York’s mayor, Freddie Mac, a sort-of government corporation, did not get the memo regarding the R-word. Freddie explains the collapsing housing market for you: “Purchase demand continues to tumble as the cumulative impact of higher rates, elevated home prices, increased recession risk, and declining consumer confidence take a toll on homebuyers.”

Happy Days are here again!

But It Avoids Probate! It’ll Be Fine! Nothing Bad Ever Happens!

Are we entitled to stocks from Uncle who removed Father as POD from Grandmothers account by mail when Grandma had dementia?

Grandma had severe dementia. Our Dad passed away and both him and my Uncle were POD beneficiary on her stock account.

Our Uncle requested a new account be opened removing our Dad as POD by mail. Grandma was not in her right mind and did not know what she signed. Uncle controlled all her finances. Paying her bill etc. He had undue influence over her. He wrote checks to his son in large amounts before she passed. He told us he would transfer our Fathers portion of stocks to us but then changed his mind and told broker not to do it. He now claims they are all his and we don’t get our Fathers portion. Grandma had a will that my Uncle now claims is missing so she died intestate. Bank statements tell the story of money he has taken before and after her passing. Grandma always told us and said it in her will everything was to be split between everyone. A neutral administrator is going to be appointed but the stock account has not been included in probate. How do we get our fathers portion of stocks. There is only my sister, Uncle and myself remaining.

There are two things going on here. First, Truth and Consequences of Grandma taking the easy way out by naming beneficiaries on stuff. Second, nefarious Uncle embezzling and undue influencing Grandma.

Truth And Consequences Of Taking The Easy Way Out

Avoid probate is great! Ask anybody. Beneficiary designations are great! Ask anybody. But are “Pay On Death” or “Transfer On Death” orders really the best? What if things go sideways? What if the world does not unfold the way you think it should?

Financial Advisors, Attorneys, Your Uncle Charlie and common sense all say that your kids will outlive you, so why not name them on your Individual Retirement Account, Life Insurance, Bank Accounts, Stock Accounts, and (God forbid!) your real estate (through the “lady bird deed”). This idea of “naming people” is easy, cheap, seductive, and actually works some of the time. But what if the Magic 8 Ball says: “Don’t Count On It” or “Outlook Not So Good”? Then what? Our letter writer is discovering what happens when Grandma assumes too much.

Uncle gets “Dad’s share” of Grandma’s stock account. But there’s nothing wrong with that! Grandma named her sons as “transfer on death” (TOD) beneficiaries. But Dad had to survive Grandma to be a TOD beneficiary. Uncle started out to be generous and kind and sharing. But he had a change of heart (not unusual when money is concerned) and decided to keep it all. As was his legal right. Could Grandma have taken other action (Hint: like a trust) to make sure that the surviving children of her deceased son (that’s our letter writer) did not miss out on the stocks? Yes. But she did not.

Bottom Line #1: When Dad died before Grandma, his entitlement (and his kids) to Grandma’s stock account lapsed. Kaput. Done. Over. Gone With The Wind.

Bottom Line #2: What if I misunderstood the letter and Dad died AFTER Grandma? If he survived by 72 hours, his estate would be entitled to the TOD share. And then Dad’s descendants would take through Dad’s estate. And the Broker could not simply give the money to Uncle, but would have to pay half to Dad’s estate.

Uncle Judas Betrays Niece And Nephew

There is a special place (an especially terrible place) in Hell reserved for those who betray their family members. It’s right next door to the Great Satan and populated with creative imps and demons whose sole delight is torture.

There are special laws, on this side of the Great Divide, to deal with those who financially exploit their family members. Especially terrible consequences for those who take advantage of vulnerable parents and older folks. Did Uncle exercise undue influence? Were the withdrawals legitimately authorized by Grandma or greedily embezzled by Uncle?

Bottom Line: Grandma depended on Uncle. Uncle controlled all finances. Uncle gave Grandma’s money to his own immediate family members. Uncle is accused of wrongdoing, undue influence, financial abuse of the elderly, embezzlement.

On the criminal side, Uncle is entitled to the presumption of innocence. It must be proved beyond a reasonable doubt that Uncle is guilty.

But on the civil side, it is different. When it comes to undue influence, fiduciary Uncle is presumed guilty (liable). Uncle must prove that there was no undue influence. Good luck with that!

Take Away Lesson: Lead Us Not Into Temptation

Half-planning measures like TOD beneficiary designations and failure to comprehensively plan open the door to exploitation. Not everyone resists temptation. If Uncle is guilty, he deserves the consequences, no excuses. But prudent planning would both limit evil Uncle’s ability to commit dastardly deeds and prevent weak Uncle from giving in to his all-too-common greedy impulses.

Read the Print Version

Spanning The Globe To Bring You The Constant Variety Of Statistics

Everything is too expensive. It is getting worse. It will continue to get worse. Until it gets better. When? God alone knows.

But wait a minute! TV Experts say “Gas Prices Are Coming Down!” Here’s proof:

regular gasoline prices chart july 2022

Wow! Looky there! Gas so cheap at $4.50 per gallon! (except Californians still paying $5.75). Selling off our Strategic Petroleum Reserve to those who hate us… Brilliant! Prices going down! A bit. A little bit. A teeny, tiny little bit. But that’s just phony baloney. Look at the long-term numbers they don’t want you to see:

u.s. all grades all formulations retail gasoline prices projection

Well, whaddaya know? Gosh, it looks like gasoline prices are at or near all-time highs. But surely there’s good news somewhere… Let’s look at consumer prices, shall we?

Oh no! More bad news from the Bureau of Labor Statistics.

Where’s the Beef? Not on your plate! Cost of putting bread on the table expanded by a yeasty 10+% over the last year. Hope you like beans and rice, rice and beans. Hold the hamburger.

Energy Expenses Exploding? Ka-boom! Up over 40% in the last year. How did we get here? Revoke drilling permits, cancel oil leases, shut down pipelines, badmouth everyone and everything related to reliable energy. That’s how!

Good News! It’s cheaper if you sit still and starve. Don’t eat and don’t move… your inflation rate is less than 10%! Oh Happy Day.

consumer price index chart june 2022

Consumer Price Inflation is still setting historic highs. But surely there is good news on the horizon? Nope. Inflation is baked in the (too expensive for you) cake. Here’s the Producer Price Index:

producer price index chart june 2022

Looking to buy a house? Refinance? Sell? Hope you like high interest rates! By the way, is the housing bubble just about to pop? Hello 2008!

mortgage rates chart july 2022

Everywhere you look, it looks like bad news. Yeah, well. Pucker up Buttercup, it ain’t over yet. Private sector money gurus continue to sprinkle fairy dust and sparkly snowflakes through their economic reporting and forecasting. But even the “Blue Chip Consensus” has begun to recognize the rancid stink of the economic corpse foisted upon us by our political potentates. The Federal Reserve Bank of Atlanta provides this handy-dandy summary:

atlanta fed gdp chart

The Atlanta Fed GDPNow graph is based solely on reported numbers. Not wishes or dreams, just the facts, ma’am. The Blue Chippers with their rose-colored glasses, not so much.

Traditionally, a recession means two quarters of Gross Domestic Product shrinkage. At least when the bad political party is in the White House. First quarter of 2022, GDP down by 1.6%. Second quarter? More shrinkage!

Given the stonewalling, obfuscation, denial, selective prosecution, abuse of discretion, outright lying, misdirection, self- congratulating, posturing, and overweening, incomprehensible, hysterical righteousness that you have observed over the past couple of years, do you expect honesty now? Will they finally level with the American people? Regular folks who get things done. Ordinary men and women. Living ordinary lives. Achieving goals of human dimensions. Finding joy in friendship and family. How could they? Admit their failures? Admit the false foundations of their arrogance and sinful pride?

Is it more likely that they’ll serve up their usual hash of psychobabble? Selective focus? Like any stage magician, grifter, or street pickpocket, aren’t they experts at misdirection?

Perseverance in basic virtues: compassion, honesty, caring, friendship, personal accountability. Maybe these simple things can be the foundation stones, as they have in the past, for a new birth of freedom. How can we refuse our duty, our responsibility?

 


 

Traditional Trust Planning Failure A Scam?

Who’s Betting On Death?

Say It Ain’t So!

Traditional estate planning is supposed to avoid probate, save taxes, and dump your leftover stuff on your beneficiaries. After you die. Nobody cares what happens to you while you are alive. How does that help anyone? Stupid.

Traditional estate planning fails because the overwhelming majority of us will need long- term skilled care. 70% of us. For an average of 3 years. And we will go broke paying for it.

Is it surprising that thousands of recreation properties: cottages, cabins, hunting land, are lost to pay for long-term care? Why is your estate planner hurting you and your family? It is evil intent? Or stupidity?

LifePlanning™ defeats Nursing Home Poverty. Keep your stuff. Get the care you have already paid for. Good for you. Good for your family. Good example for society.

When my mother suffered from the dementia which led to her death, over 10 years ago, their estate plan preserved their lifesavings. Mom’s months in the nursing home did not mean Dad’s impoverishment. Dad spent the last years with security and peace of mind.

Is Now A Bad Time For A Real Solution?

Perhaps you think you already have an answer to this problem. Maybe you do not see this as a problem at all. It is possible that you do not believe in the passage of time or its effects on you.

Peace of mind and financial security are waiting for everyone who practices LifePlanning™. You know that peace only begins with financial security. Are legal documents the most important? Is avoiding probate the best you can do for yourself or your loved ones? Is family about inheritance? Or are these things only significant to support the foundation of your family?

Do you think finding the best care is easy? Do you want to get lost in the overwhelming flood of claims and promises? Or would you like straight answers?

Well, here you are. Now you know. No excuses. Get the information, insight, inspiration. It is your turn. Ignore the message? Invite poverty? Or get the freely offered information. To make wise decisions. For you. For your loved ones.

The LifePlan™ Workshop has been the first step on the path to security and peace for thousands of families. Why not your family?

NO POVERTY. NO CHARITY. NO WASTE.
It is not chance. It is choice. Your choice.

Get Information Now.
(800) 317-2812

Read the Print Version

16+% Wholesale Inflation – Again! 10.1% Cost Of Food Inflation

Nostalgic For The Good Old Days Of Jimmy Carter? Me Too.

More good news from our friends at the Bureau of Labor Statistics! Consumer Price Inflation is setting new 40-year records. Again.

Energy prices are up. Way, way up. And that’s easy to solve. Simply stop driving anywhere. Stay at home. Problem solved.

Now that summer is finally here, you may wish to turn on your air conditioning. Do not. Your cost of cool is up 35%. Fortunately, sweat is still free. And it is all natural. Probably gluten-free, too. So, stay home, in the dark, with the air conditioning off. It is the New American thing to do.

Also, you can forget about going to the pool. No lifeguards. According to that paragon of virtue, National Public Radio: “the National Recreation and Parks Association says 8 out of 10 parks and rec departments can’t find enough staff.” “Tens of thousands of pools across the country are closed…”

Everybody complaining about gas prices. Is that the worst? No. Gas prices are not the worst part. So what is the worst? Since you have not read or heard it anywhere else, it falls to your Elder Law Reporter to point out the worst. Food Inflation. Food Inflation is in double-digit territory. Food costs 10.1% more now. You can stay home and save gas. Can you stay home and not eat? For how long? Little Orphan Annie said, “The sun’ll come out tomorrow, bet your bottom dollar that tomorrow, there’ll be sun!” Little Orphan Annie has not been watching the Producer Price Index.

Every time you go to the store, you experience the Consumer Price Index. The CPI is how the government measures misery today.

Future pain is predicted by the Producer Price Index. The PPI measures wholesale inflation, before it gets to your local store. Wholesale inflation is once again at a 40-year high. 16.6%. Did you think 10% Food Inflation was bad? How about 16.6%? That is what’s coming tomorrow. For Goods. Wholesale inflation for services is only 7.6%. Feel better?

Hey Annie! Wake up and smell the coffee! Whoops, according to the Wall Street Journal, thanks to “extreme weather and supply-chain disruptions,” we have a coffee shortage and prices are up 76%. Yeah, we got a chart for that.

Homebuyers! Do not feel left out. Home mortgage interest rates are still climbing, according to Freddie Mac (formerly known as the Federal Home Loan Mortgage Corporation), now up about 300% since Christmas. Pass the eggnog! Merry? Merry? Investors! Guess what… the market is tanking. Down 17% this year. So far. But you already knew that.

What’s It All About? Six Keys To Happiness

How do you survive when the best-case scenario is: Horrifically Worse Than Jimmy Carter, But At Least No Thermonuclear War? Follow the Six Steps:

Stay home. Do not move about. Do not turn on the A/C. Do not eat. Do not buy another house. Do not look at your investments. Bonus Step: Go to a LifePlan™ Workshop. Drink our coffee. Have a oatmeal raisin cookie on us! Cheers… Easy!

Is Traditional Trust Planning Failure A Scam?
Why Is Your Estate Plan A Death Trap
Can Widespread Failure Be Explained By Incompetence And Indifference?

Traditional estate planning is supposed to avoid probate, save taxes, and dump your leftover stuff on your beneficiaries. After you die. Nobody cares what happens to you while you are alive. How does that help anyone? Stupid.

Traditional estate planning fails because the overwhelming majority of us will need long-term skilled care. 70% of us. For an average of 3 years. And we will go broke paying for it.

Is it surprising that thousands of recreation properties: cottages, cabins, hunting land, are lost to pay for long- term care? Why is your estate planner hurting you and your family? It is evil intent? Or stupidity?

LifePlanning™ defeats Nursing Home Poverty. Keep your stuff. Get the care you have already paid for. Good for you. Good for your family. Good example for society.

When my mother suffered from the dementia which led to her death, over 10 years ago, their estate plan preserved their lifesavings. Mom’s months in the nursing home did not mean Dad’s impoverishment. Dad spent the last years with security and peace of mind.

Is Now A Bad Time For A Real Solution?

Perhaps you think you already have an answer to this problem. Maybe you do not see this as a problem at all. It is possible that you do not believe in the passage of time or its effects on you.

Peace of mind and financial security are waiting for everyone who practices LifePlanning™. You know that peace only begins with financial security. Are legal documents the most important? Is avoiding probate the best you can do for yourself or your loved ones? Is family about inheritance? Or are these things only significant to support the foundation of your family?

Do you think finding the best care is easy? Do you want to get lost in the overwhelming flood of claims and promises? Or would you like straight answers?

Well, here you are. Now you know. No excuses. Get the information, insight, inspiration. It is your turn. Ignore the message? Invite poverty? Or get the freely offered information. To make wise decisions. For you. For your loved ones.

The LifePlan™ Workshop has been the first step on the path to security and peace for thousands of families. Why not your family?

No Poverty. No Charity. No Waste.
It is not chance. It is choice. Your choice.

Get Information Now. (800) 317-2812

Read the Print Version

Light One Candle Or Curse The Darkness?
(Not Edited For Spelling Or Punctuation Or Anything Else) (Warning: Not Legal Advice!)

Question: What do I need to do to remove people from a house my father owned and recently died there is no lease or will?

Dad passed away went to home and found people living in it we are being held responsible for funeral and other bills but town police will not remove people that I have never met and won’t tell us there name? Value of assets is in the millions we are his only 3 children.

Short Answer: Evict ‘em! But observe all requirements of Landlord Tenant law. You cannot just “kick them out”!

Longer Answer: Bad people have been known to take over the homes of long-term care facility residents. Especially when the kids live out of town. No one checks on the house. No one questions the new residents. And the results can be unfortunate. And there is no simple solution, no easy escape. Police cannot “throw the bums out” because state law prohibits removal of “tenants” without due process. You cannot “give‘em the 23-skidoo!” because the law frowns on and severely penalizes vigilante landlord justice. You can call Ghostbusters, but you must give them a 30-day notice to quit. And when they still won’t leave, you’ll have to take them to court. You finally get your judgment. They are not going anywhere. Time to call the sheriff and the movers.

Word to the Wise: Perhaps your loved one will need residential long term care in a nursing home or assisted living facility. Maybe they would simply enjoy the convenience of independent living. When your loved one leaves home, make sure there is no one left behind. Or you will pay the price.

Are you against controlling the family home? Is it a ridiculous idea that folks who have helped hundreds of families transition to long-term care could prevent these sorts of shenanigans? Do you want to spend months getting back what belongs to your family in the first place? Would you rather buy a pound of cure or an ounce of prevention?

Question: Can I be a guardian if I was convicted 6 years ago of welfare fraud and I paid all my fine and I’m off probation

My mom is in nursing home and her properties have to be sold I’m paying all her bills I she lived with me the last 2 1/2 years.

Short Answer: You have certainly paid your debt to society, but it is still up to the probate judge to decide. You have been trustworthy and loyal for the last 2 ½ years, so the judge might go your way. Or might appoint a public guardian and cut you out of your mom’s care entirely.

Long Answer: Is it crazy to think that things work out better when you plan ahead? You have been doing all the good things for 2 ½ years and yet you have not taken a couple very basic steps to protect your mom or her relationship with you.

As a competent adult, you get to choose whom you would like to make decisions for you. It is 100% your choice. No one else has to agree. Everyone else in the world might think your choice was bad, wrong, stupid, and horrible. Their opinions do not matter. You get to choose.

What if you do not choose. Shirk your responsibility to yourself and your family. If you do not exercise your rights as an adult person, what happens when you cannot make decisions for yourself? What happens if you suffer a stroke? Or Lewy Body dementia? Or Alzheimer’s? Or get hit in the head with a frying pan? Yowch!

If you have not selected that person in writing, you have a One-Way Ticket to Probate Court. A journey that will be far more expensive and wearing than taking a few hours to get an honest-to-goodness, works-when-you-need-it estate plan in place.

Excuses to avoid planning flow like the Mighty Mississippi…rolling, rolling, rolling down to the sea… So you avoided spending the time and money. Wonderful!

Get ready to spend ten times as much time, money, and aggravation. Also understand that you will not be able to shelter mom’s house or assets from the skilled nursing care costs. Everything has to pass by the probate judge for approval, sooner or later.

And if you have a skeleton or two in your closet… be prepared to lose control over mom’s health care decisions and financial choices too.

Regular folks are never prepared for the reality of probate court. You think the judge understands that you are a good person, doing the righteous thing for your loved one. Ha ha ha. Judges have seen it all. And most of it is NOT GOOD. Granddaughter on house arrest takes grampa to the store to buy a fifty-cent candy bar with a $100 check. So granddaughter gets the change in cash. So she can buy more crack. (Crack dealers rarely take checks.) Abuse. Financial exploitation. Neglect.

How does the judge know that you are not one of these godforsaken souls? The judge does not. And will treat you with fine equality. Just like a crackhead.

You are not used to being treated that way. You will not like it. Unfortunately, those are the folks the judge mostly sees.

Gee, do you think maybe you should have done some planning while there was time? Or is that just crazy talk?

Question: Can someone exercise power of attorney without authorization?

My sister (age 47) and my elderly father (age 78) use the same auto mechanic. My father owns a large pick-up truck that needed work over two years ago. He previously used this truck to tow his fifth wheel trailer. My mother (83) had concerns about my father driving such a large truck because of Parkinson’s symptoms. So, my sister convinced the auto mechanic to delay completion of the repair. For over two years the mechanic has been telling my father numerous excuses as to why the repair cannot be completed. My father has no idea that my sister interfered with his private business.

Short Answer: This has nothing to do with “power of attorney.” This has everything to do with deception, disrespect, and dishonesty.

Long Answer: A power of attorney is an expression of trust. Dad trusts Daughter to make decisions for him and to carry out his instructions. Dad puts his confidence in writing. Dad tells the whole world that Daughter may act on Dad’s behalf, doing the things Dad could do, in Dad’s best interests. In writing. According to the law.

Here, there is no power of attorney. Not even a “verbal” one. Dad simply took his truck into the fix-it shop. Dad made a deal with the mechanic: Fix the truck. I will pay. Pretty simple deal.

Daughter now chooses to interfere with Dad’s fix-it deal. Daughter convinces mechanic to break the contract. Mechanic lies to Dad. Over and over. Again and again. All in Dad’s “best interests.” According to whom? According to his wife. I guess. She who must be obeyed. Shameful.

Dad has “Parkinson’s symptoms.” Dad is not suffering from dementia. If he is like most Parkinson victims, his mental acuity has not suffered. And it may not be Parkinson’s at all.

Is it okay to lie a little for a good end? Is it okay to lie a lot over 2 years for a good end? Do the ends justify the means? Will there be consequences and repercussions from telling the truth? Sure, but there aren’t there always consequences and repercussions to telling the truth? Is it better to lie for an extended period of time before you tell the truth? Is it worse to tell the trutht right away?

Recently the Supreme Court of the United States issued some opinions. Some reversed cases that had been decided poorly many years ago. Every serious legal scholar agreed that those old decisions were made under intense political pressure. Now, fifty years later, the Supreme Court is finally doing its job. And some politicians prefer deception. They would rather have lousy legal doctrines, cooked up undemocratically by black robed oracles than by greasy politicians kowtowing to the people who elected them. Didn’t somebody once upon a time praise the idea that government should be of the people, by the people, for the people?

Is The Reporter sympathetic to the family that worries about Dad and endangering other people? Yes.

Does the Reporter believe that honesty is the best policy? Should you do your truthful best and let the chips fall where they may?

Yes, to both. Bite that bullet. Do that tough thing. Enjoy mutual respect without the twisted stomach that comes from lying. Try it, you’ll like it!

Question: Can I get my apartments put back into my name.

I trusted my grandson that he needed a cosigner for a home I signed some papers coming to find out that what I was signing was transfer papers he lied to me as well as the lady in her place of business where he took me told me the same thing about co-signing for credit on a home.

I never felt so betrayed and hurt, immensely angry with him that he tricked me.

Short Answer: This is garden variety fraud; larceny by trick. Immediately you should file an Affidavit Concerning Interests in Land against the property, documenting grandson’s nefarious scheme and disavowing the deed you were fraudulently induced to sign.

Grandson’s next step may well be to defraud an innocent third party by selling or mortgaging your property. You do not want to be in court with an innocent third-party purchaser for value.

Long Answer: Seven hundred years ago, Italian poet Dante Alighieri took a trip through Hell and lived to tell the tale. You may have heard of Dante’s Inferno? That’s the one! Turns out there are 9 Circles of Hell. The Ninth is lowest and worst. Souls in the Ninth Circle are trapped in a frozen lake, tortured by demons for all eternity. And who winds up in the Ninth Circle?

Traitors. Fraudsters who criminally violate the special bonds of love that should bind them to their victims. Treacherous. Selfish. Doomed to suffer for all time and beyond, in the company of the Devil, aka, Lucifer, Satan, Dis, Beelzebub. According to Dante, the souls of family traitors descend to hell immediately, while the human body continues its hopeless journey on earth.
But that is not all!

On this side of the Great Divide, Adult Protective Services is ready, willing, and able to enforce laws against elder financial abuse. It is a felony crime to defraud someone this way. For elders, the penalties are enhanced. Your tax dollars at work.

This can be fixed, but it will take fixing. Get to your friendly, neighborhood elder law attorney and block this rancid puppy’s next move. And step on it! Pronto.

Read the Print Version

Twelve years ago.

The year is 2010. On a hot summer afternoon, warm bright air, sunny, a bit of a breeze. Two men retiring from the same homegrown Michigan company. They were very much alike, these two older gentlemen. Team builders. Known for getting the job done. Both had better-than-average, thirty-year careers. Personable, well-respected, and secure. Paid-for home, nice cottage. Everybody likes the lake. Boating. Swimming. No debt. Conservative investments. No bad habits (except spoiling the grandkids). Respected. Accomplished.

As new retirees so often are, both were filled with dreams for the future. Time to spend more time with the important people. Wives, kids, grandchildren. At the cottage, on the golf course, traveling. Enjoying the retirement freedom and security they had anticipated, saved for, earned.

Last week.

July 2022. The company had its one-hundredth anniversary. Both men were invited to celebrate.

They were still very much alike. Both healthy. Each had three grandchildren. Still devoted to their wives of over forty years. Both primary caregivers. At home. Just a few short years into retirement, their wives were stricken with Alzheimer’s Disease. Dementia. Memory Loss. Unusual Behaviors.

Family and friends have been sympathetic. Both men welcome the help and are grateful. But.

But there were enormous differences.

One struggled to make ends meet. “On duty” 24 hours per day. Exhausted. Retirement savings, cottage, comfortable home – all gone. His wife gone to the nursing home. And with pension replaced by the 401(k), living on social security. Pitiful.

The other man recently hosted his granddaughter’s wedding. At the lake. One hundred and twenty guests. Life savings intact. Independent, secure. Yes, he was his wife’s primary caregiver. But she still lived at their home. And he had plenty of help. Using the Program of All-inclusive Care for the Elderly (PACE). PACE provides services at home. No worries. COVID emergency rules are still in effect. Medical Emergency extended yet again. He keeps their home, their cottage, their life savings. Respected. Safe.

Why Is One Desperate
And The Other Secure?
Do You Want Pity Or Respect?

Have you ever wondered, as I have, what makes this kind of difference in a person’s life? It does not seem to be native intelligence or talent or dedication. I do not believe that one person wants security, and the other does not. No one is looking for pity. Both would like respect. How has each man used the knowledge they have?

Doesn’t the difference lie in what each person knows and how he or she uses that knowledge?

And that is why I am writing for you and for people like you. For that is the purpose of this blog: To give its readers knowledge – knowledge that they can use in life. LifePlanning™ that benefits themselves, their loved ones, their greater circle of friends. Have you heard about PACE or the new COVID emergency rules anywhere else?

Why didn’t your lawyer or financial adviser tell you?
They cannot tell you what they do not know.

Traditional Estate Planning Lawyers are only concerned with avoiding probate and getting your leftovers to the kids. Things that happen after you have both died. Good to do, of course. But you are not dead yet. Maybe it would be helpful to keep your assets while you are still in the land of the living. LifePlanning™ shows you how.

Financial Advisors advise on finances. Liquidity. Rates of Return. Stability. Long- term care is not their area of expertise. Let’s keep the financial folks focused on financials. Let them worry about increasing your nest egg. LifePlanning™ is making sure the eggs stay in the nest. Financial Advisors want to put more in your bucket… LifePlanning™ makes sure the bottom doesn’t drop out.

To serve and protect you, the Reporter brings you a broad range of information of interest and significance. No matter what the source. Not limited to dusty laws or arcane regulations. Anything and everything that affects middle- class security and well-being.

Take Action Today

Knowledge, concepts, ideas – all very fine. But without action? Nothing. LifePlanning™ incorporates The Reporter’s unique perspective and knowledge, in real life. Getting what you have earned. Avoiding nursing home poverty. Living life to the full, whatever the circumstances. Thousands of Michigan families use LifePlan™ techniques. Securing a better life for their families. Security is a choice. What do you choose?

Knowledge Is Power, If You Use It

Emergency COVID rules gave you options without poverty.

Beginning two years ago, Spring 2020, we told you about an expansion of the Program for All-inclusive Care for the Elderly – PACE. Emergency rules for the COVID pandemic. We told you: you do not have to sacrifice your life savings, your cottage, your property. Over the last years, through pandemics, vaccines, elections, protests, and general shenanigans, many, many families responded. And have benefited.

But the emergency rules were set to expire on November 1, 2020. Then extended to April 1, 2021! Now extended to the indefinite future… Bad news: you and hundreds more families were shut out. Not enough time. Too bad, so sad. Coulda, shoulda, woulda. Snooze and lose. A bitter pill. But… those rules were extended to April 1, 2020. And then?

The recent past has been full of surprises. Finally, a good surprise!

Good news: the emergency rules have been extended “until further notice.” Thousands of families let the first opportunity slip through their fingers. You let the second chance expire. Now you have a third chance. Should you wait to see how long the government let this go? Are you kidding?

Remember playing the kids’ party game Musical Chairs? When the music stops, somebody’s gonna miss the chair, fall on the floor. When the PACE music stops, some folks are going to miss out. Why should your family lose? Why should you or your loved one fall on the floor?

No Poverty, No Charity, No Waste Not Pity…
The Respect You Have Earned Make Rules Work For Folks Who Play By The Rules

Too many middle-class families (one is too many and long-term care poverty robs thousands) go broke from endless nursing home, assisted living, or caregiver bills. Pitiful. That does not happen to our LifePlan™ families. Respect. Security. Confidence.

It is simple: Three Goals, One Strategy.

1. No Poverty – You will not go broke.
When you are in control, life is good. You will not go broke from casinos, Bernie Madoff, or too many vacations. Long-term care rips the steering wheel from your hands and points you over the cliff. No choice, no chance. LifePlanning™ keeps you firmly in the driver’s seat. In control. Lifesavings intact. As you have always been.

2. No Charity – Caregivers get paid. You already “bought the insurance.”
America pays for long-term care through your taxes. Withheld from every paycheck you ever earned. More than your fair share over the years. You paid for other people. Folks you have never met. You, the middle-class, only want a fair shake. You paid in, you should get paid back if needed. Without sacrificing every red cent.

Does Social Security refuse to pay out when you have lifesavings?

Does Medicare say, “Come back and see us when you are broke?

Why should long-term care, paid by your tax dollars, be different? Why?

3. No Waste – Any leftovers go to your beneficiaries. Not wasted on probate or taxes.
Why shouldn’t your family, your loved ones, benefit from your leftovers? Why should probate, taxes, government soak up what is left? Wise plans avoid strife and insure family harmony.

For 32 years, the LifePlan™ strategy has achieved your goals.

The rules can work for you. LifePlanning™ makes the rules work for the people who play by the rules. Other so-called experts, attorneys, planners, financial advisors accept the status quo. They do what everyone else does. The LifePlan™ approach dives deep. Seeking out and securing your family’s future.

How Can You Protect What You Have Earned? What Should You Do Now?
Safe and secure or broke and anxious?

About those older gentlemen I mentioned at the beginning. Both men retired at the same time. They faced similar challenges. What made their lives so different? Luck? Lottery tickets? Guardian Angels? Some folks may think so…

Others know different. Knowledge. Useful knowledge. Action. Follow through. Better results. Why does one man, honorable and well-meaning, face a pathetic future… to be pitied by friends and relations? Why does the other man, with the same opportunities, face a secure future… respected and admired by sons and daughters, grandchildren, and greatgrandchildren? And his neighbors at the lake? Who will live longer? Who will live happier?

Which path do you choose? Is it all luck? Or does your success depend on intelligent action? And hard work. Your action. Your work. Did luck that paid off the mortgage? I didn’t think so.

Sound planning or Urgent need?

Are you facing an urgent need? Caring for your spouse or parent? Has a loved one received a diagnosis? Have you retired and watched your friends and neighbors go through long-term care impoverishment? Years of planning and saving washed away like a sand castle at the beach.

Are you considering retirement and want to face the future without fear? Would planning that lasts a lifetime meet your criteria? Does it seem unfair that the middle-class should pay and pay while others reap the rewards?

Put Us To The Test

Thousands of families across 32 years have experienced the proof. They had questions, doubts, confusion, just like you. But they acted. They found out. They made positive, life-affirming decisions. Why not you? Call directly or email. Facing an emergency? Loved one in long-term care right now? Caring for your spouse or parent at home? When you need us, we will be there for you. If your situation is urgent, we will get right on it. Or choose to attend a LifePlan™ Workshop in person or online.

Get the information you cannot get anywhere else.

Get the information you need without charge or obligation. Just ask. Your time and attention are precious, we will not waste either. Get the inside story no one else shares.

Get The Lifeplan™ Information Now

Call The LifePlan™ Hotline Today (800) 317-2812

Read the Print Version

Dedication, Devotion

Just a couple weeks ago. A perfect Sunday morning in early summer. Bright sunshine, warm air, colorful flowers, green leaves.

Two women reading the paper. They could have been sisters. Remarkably similar. Children and grandchildren. Both are reliable volunteers for church and school. Both looking forward to their 50th wedding anniversary.

Comfortable homes with well-tended gardens. Paid for. Substantial retirement savings. No debt. (Thanks to coupon clipping and natural thrift!) Extravagant or expensive habits? None. Except spoiling their grandchildren at every opportunity. Good-naturedly, of course.

You know these women. The sort of middle- class people who enrich the world by their simple presence. And generosity of spirit. Authentic kindness.

Now, both are primary caregivers for their husbands. Husbands who, after many years as partner and confidant, father and grandfather, best friend and “accomplice,” had fallen victim to Alzheimer’s Disease. Heart-breaking. Life- changing. No description necessary.

These women take their wedding vows seriously. Better or worse. Richer or poorer. Sickness and health. They said it. They meant it. They lived it.

Sure, the kids think it is corny. But these women took the words of JFK seriously: “We choose to do these things, not because they are easy, but because they are hard.” Alzheimer’s is hard.

To be sure, the kids have their own families and challenges. They live out of state. They would like to help, but… Now they think it is a good idea for Dad to be “placed”. What is it with kids these days?

Too Good To Be True?

As it happens, on this pleasant Sunday, both women were reading the same article. An account in The Michigan Elder Law Reporter describing the Program of All-inclusive Care for the Elderly, known as PACE.

The Reporter claimed that PACE provided free, at-home care. All pharmacy needs with no co-pays, donut holes, delays, or frustrating paperwork. Specialist care. Respite care. Durable medical equipment. Supplies. Occupational and Physical Therapy. The list went on and on. It even claimed that PACE was intended to help folks just like her. On purpose. Family members caring for loved ones at home. Staying at home.

Most outrageous, though, was the bald statement that their life savings, their home, their cottage, their security, need not be sacrificed to long-term care costs. That a lifetime of shared work could be preserved for themselves, their children, their grandchildren. How could that happen?!

They remembered similar articles in the Reporter… published over the summer and winter of 2020-2021. And the warning that the special COVID rules would expire on November first. Too late. But now comes the news that these rules were extended to April 2021! And yet again the COVID rules that expand eligibility were extended! “Until further notice…” Whatever that means, right?

Two Roads Diverged In A Wood, And I – I Took The One Less Traveled By…

And this is where the women made different choices.

One said to herself, “Stuff and Nonsense! I pity anyone foolish enough to believe this… Promises, promises! Too good to be true! I didn’t believe it last summer and I don’t believe it now! Fiddle Faddle.”

The other thought, “I heard of this back in July, then in the fall, and again in the springtime. I still didn’t act. Is it possible that I have another chance? Is Someone trying to tell me something? Maybe I should find out more…”

Five years quickly passed.

And That Has Made All Of The Difference

Another fine June morning. But now these women are not so much alike. They had made different choices. They got different results.

Pride Goeth Before A Fall

One was physically exhausted. Twenty-four hours a day. Seven days a week. Constant caregiving was taking a heavy toll. Worse was the mental stress. Facing bankruptcy. She gladly spent the life savings to pay home health care workers. Selling the cottage? No, she didn’t mind it. That money was long gone. Days at the lake a distant memory. The grandkids can learn to swim at the Y.

She was still bound and determined that her husband would never wind up in one of “those places.” Then the cash ran out. She gritted her teeth and took a loan against the house. Twice. Plus a line of credit. In desperation, she turned to cash advances on the credit cards.

In her pride, she did not share the burden with her friends or children. She chose a solitary journey. Until the inevitable day when the house of cards collapsed. She reached for the phone to call her eldest child. She never imagined living in a senior housing project. Well, at least the bill collectors had stopped calling. Pathetic? Pitiful? Or just sad…

The other woman was at the cottage window watching her grandchildren fish from the dock. The last few years had been tough. Her husband no longer knew her or their children. She was making the best of a bad situation. But. Her health was good. The PACE folks were a blessing. No worries. PACE had installed a wheelchair ramp at their home. Several times a week, expert aides came out to attend to her husband’s hygiene. During that coronavirus problem so many years ago, they even helped with her grocery shopping. And housekeeping. In addition to all the medical support. She knew her future was secure. She did not face it alone. Life savings protected. Life choices respected. “Well,” she thought, “sometimes “too good to be true turns out even better.” Sympathy for her tough row to hoe. Tempered by respect for her wise decisions.

I Have Finished The Course, I Have Kept The Faith

Several months later.

At the first woman’s funeral, her friends agreed. It was tragic. Pitiful, even. She had run the race. She had fought the good fight. At the ultimate cost to herself, she did what she believed was necessary. Pouring out the savings and accomplishments of a lifetime in a few short years. But. Is there anything more tragic than needless suffering? Doing very well something that did not have to be done at all? As one mourner observed, “She killed herself with work and worry, all to keep him out of “those places.” And where is he going now? One of “those places.”” It is more than sadness that we feel when a good person refuses the helping hand. It is more than regret when refusal leads to unfortunate consequences.

Not far away, at about the same time.

After the preacher’s kind words at the cemetery, the other woman turned from her husband’s grave. She too had run the race, fought the good fight. She had been there for him to the ultimate end. Hospice at the house. Familiar PACE folks who supplied the hospital bed, Hoyer lift and other necessary equipment and services. Given fair warning, the kids made it in from out of town. It was sad, heart- breaking. But not tragic. Surrounded by family and friends. Secure. Respected. Gracefully accepting sympathy without a hint of pity. At peace. What did the Lord have in store for her now? She did not know. But she looked forward to finding out.

The Difference

Most people, reading this article, will choose the path of the first woman. Most people, faced with long-term care costs, will close their eyes. Hope for the best. And watch their life savings evaporate like a snowflake on a hot griddle. Why does the caregiver spouse die first, almost half of the time? Why do hard-working, prudent, frugal, middle-class folks accept nursing home poverty? Most of the time?

Not Chance, Your Choice

There is nothing inevitable about losing your home, cottage, business, lifesavings, independence, security. All of that is a choice. Despite what “everybody else” says. For thirty-one years, people have told me, “I’ve never heard of this before!” “If this is real, why haven’t I heard of this before?” “My lawyer/financial advisor/ accountant/tax person/banker/best friend/fill- in-the-blank never said anything like this…”

Well, here you are. Reading The Reporter. So now you know. No excuses. The Reporter is here to provide information, insight, inspiration. Now it is your turn. To ignore the message. Invite poverty. Or get the freely offered information. To make wise decisions about your life. And that of your loved one.

NO POVERTY. NO CHARITY. NO WASTE.
It is not chance. It is choice. Your choice.

Get Information Now. (800) 317-2812

Read the Print Version

Clanging For 65 Years!
(Not Edited For Spelling Or Punctuation Or Anything Else) (Warning: Not Legal Advice!)

Though I Speak With The Tongues Of Men And Of Angels, And Have Not Charity,
I Am Become As Sounding Brass, Or A Tinkling Cymbal.

—1 Corinthians 13:1

Question: Would an adult child be responsible for an elderly parents’ nursing home expenses?

A low income, elderlycouple (85+) have been living independently for over 20 years. Their adult child (not an in-state resident ) provided their living expenses for the past 20 years. Due to illness, the adult child is only able to provide very limited living expenses for them.

In 2021, they both were hospitalized due to life threatening illnesses. They do not have any relatives in state and do not have money. At a doctor’s request, adult protection services and some social workers helped them move into a nursing facility due to their low-income status.

One person is qualified for Medicaid. The other one is not.

However, they do not have any money.

The question is, would the adult child be responsible for their elderly parents’ nursing facility medical and living expenses?

Short Answer: Maybe. Most states have filial responsibility laws that impose financial responsibility for parents on the kids. But not in Michigan. Used to be that if your parent wound up in the Kalamazoo Psychiatric Hospital (known at its opening in 1859 as the Michigan Asylum for the Insane), you would get the bill. But not anymore. In Michigan.

Most states do not enforce their filial responsibility laws, but Pennsylvania is an exception. A recent appellate court ruling upheld the constitutionality and enforceability of the law. And Pennsylvania does come after the kids. Sometimes.

Long Answer: Beware when you “sign in” your parent to a nursing home or other facility. At least glance at the papers before you sign them. Better yet, read them. Even better, have your friendly, neighborhood elder law attorney take a gander before you sign.

Back in the day, it was not at all unusual to find a personal guarantee of fees buried in the mound of paperwork that the facility asked you to sign. And people did sign them. And facilities did enforce them. And it was a mess. Which is probably why the practice has pretty much died out. But not entirely, so buyer beware. Or get a little elder law assistance.

When long-term care costs $200-850/day (that is per day!), can you afford to just sign everything?

Imagine you are placing a loved one in a residential care facility. Do you think it is easy? Easy for the loved one? Easy for you? Most folks get overwhelmed. Crushing need for help and inability to provide care at home. Anger and frustration of the loved one. Guilt and helplessness of the caregiver forced to take this drastic step. And how do we break the promise: “You’ll never to to a nursing home!” Does it matter that you made that promise without knowing the reality of 24-hour, 7-day, 52-week care?

No wonder people sign documents without understanding what they are reading. Perhaps it might be helpful to have someone who has been down this path before…

Question: My boyfriend of 10 yrs just passed and now I got 30 days to get out it just don’t seem right. Is this how it is?

I was working he needed me at home. Before we could look in to caregiving he passed. His sister is 50% on the deed… something like that. So I got 30 days to get out 10 yrs of my life peacefully and she will give me his car and 2500$ I guess that’s the way they do it.

Short Answer: It is harsh to say, but you are probably not entitled to the money or car. Some states have “common law” marriage or “palimony.” In those states, you might have a claim. But not in Michigan.

Long Answer: Seems like sister is “on the deed”, maybe as joint tenant. Since you are definitely not on the deed, you have no title.

Michigan takes a hard line on marriage. Either you are married, with license and ceremony, or you are not. Marriages that were contracted in other states or territories that were valid in those locations are recognized and given effect in Michigan. But that is as far as it goes.

You probably received a 30-day Notice To Quit. This document is the first step in eviction. You may comply and leave, or fight the eviction or force the sister to go through the entire process. There are several ways this could go.

First, you up and leave. You get the car and the money.

Second, you fight. Not sure what basis you have for fighting, so the judge may get annoyed and assess damages for frivolous defenses. Plus you have lost the car and the money.

Third, you insist on every step of the eviction process being followed exactly. This may slow things to a crawl. Or you may get a judge who briskly moves cases through. Eventually, you will be forced to leave. And you may lose the car and money.

Marriage has consequences. Like inheriting property. Like entitlement to spousal share rights. Marriage is not a bed of roses and if it were, you’d find plenty of thorns. But there are benefits to marriage as well. Something to bear in mind.

 


 

16+% Wholesale Inflation – Again! | 10.1% Cost Of Food Inflation

You Don’t Need A Weatherman To Know Which Way The Wind Blows

Nostalgic For The Good Old Days Of Jimmy Carter? Me Too.

More good news from our friends at the Bureau of Labor Statistics! Consumer Price Inflation is setting new 40-year records. Again.

Energy prices are up. Way, way up. And that’s easy to solve. Simply stop driving anywhere. Stay at home. Problem solved.

Now that summer is finally here, you may wish to turn on your air conditioning. Do not. Your cost of cool is up 35%. Fortunately, sweat is still free. And it is all natural. Probably gluten-free, too. So, stay home, in the dark, with the air conditioning off. It is the New American thing to do.

consumer price index chart may 2022

Also, you can forget about going to the pool. No lifeguards. According to that paragon of virtue, National Public Radio: “the National Recreation and Parks Association says 8 out of 10 parks and rec departments can’t find enough staff.” “Tens of thousands of pools across the country are closed…”

Everybody complaining about gas prices. Is that the worst? No. Gas prices are not the worst part. So what is the worst? Since you have not read or heard it anywhere else, it falls to your Elder Law Reporter to point out the worst. Food Inflation. Food Inflation is in double-digit territory. Food costs 10.1% more now. You can stay home and save gas. Can you stay home and not eat? For how long?

Little Orphan Annie said, “The sun’ll come out tomorrow, bet your bottom dollar that tomorrow, there’ll be sun!”

Little Orphan Annie has not been watching the Producer Price Index.

Every time you go to the store, you experience the Consumer Price Index. The CPI is how the government measures misery today.

Future pain is predicted by the Producer Credit: Pacific Comics Club Price Index. The PPI measures wholesale inflation, before it gets to your local store. Wholesale inflation is once again at a 40-year high. 16.6%.

Did you think 10% Food Inflation was bad? How about 16.6%?

producer price index chart may 2022

coffee price chart

That is what’s coming tomorrow.

Hey Annie! Wake up and smell the coffee! Whoops, according to the Wall Street Journal, thanks to “extreme weather and supply-chain disruptions,” we have a coffee shortage and prices are up 76%. Yeah, we got a chart for that.

Homebuyers! Do not feel left out. Home mortgage interest rates are still climbing, according to Freddie Mac (formerly known as the Federal Home Loan Mortgage Corporation):

mortgage market survey chart

Investors! Guess what… the market is tanking. Down 17% this year. So far. But you already knew that.

dow jones industrial average chart june 2022

What’s It All About? Six Keys To Happiness

How do you survive when the best-case scenario is: Horrifically Worse Than Jimmy Carter, But At Least No Thermonuclear War? Follow the Six Steps:

Stay home. Do not move about. Do not turn on the A/C. Do not eat. Do not buy another house. Do not look at your investments. Easy!

Is traditional trust planning failure a scam…
Your Estate Plan Is A Death Trap
Or Can It Be Explained By Incompetence And Indifference?

Traditional estate planning is supposed to avoid probate, save taxes, and dump your leftover stuff on your beneficiaries. After you die. Nobody cares what happens to you while you are alive. How does that help anyone? Stupid.

Traditional estate planning fails because the overwhelming majority of us will need long-term skilled care. 70% of us. For an average of 3 years. And we will go broke paying for it.

Is it surprising that thousands of recreation properties: cottages, cabins, hunting land, are lost to pay for long-term care? Why is your estate planner hurting you and your family? It is evil intent? Or stupidity?

LifePlanning™ defeats Nursing Home Poverty. Keep your stuff. Get the care you have already paid for. Good for you. Good for your family. Good example for society.

When my mother suffered from the dementia which led to her death, over 10 years ago, their estate plan preserved their lifesavings. Mom’s months in the nursing home did not mean Dad’s impoverishment. Dad spent the last years with security and peace of mind.

Is Now A Bad Time For A Real Solution?

Perhaps you think you already have an answer to this problem. Maybe you do not see this as a problem at all. It is possible that you do not believe in the passage of time or its effects on you.

Peace of mind and financial security are waiting for everyone who practices LifePlanning™. You know that peace only begins with financial security. Are legal documents the most important? Is avoiding probate the best you can do for yourself or your loved ones? Is family about inheritance? Or are these things only significant to support the foundation of your family?

Do you think finding the best care is easy? Do you want to get lost in the overwhelming flood of claims and promises? Or would you like straight answers?

Well, here you are. Now you know. No excuses. Get the information, insight, inspiration. It is your turn. Ignore the message? Invite poverty? Or get the freely offered information. To make wise decisions. For you. For your loved ones.

The LifePlan™ Workshop has been the first step on the path to security and peace for thousands of families. Why not your family?

NO POVERTY. NO CHARITY. NO WASTE.
It is not chance. It is choice. Your choice.

Get Information Now. (800) 800317-2812

Read the Print Version

Ignoring Good Advice For 65 Years!

Better To Remain Silent And Be Thought A Fool Than To Speak Out And Remove All Doubt

—Abraham Lincoln

(Not Edited For Spelling Or Punctuation Or Anything Else) (Warning: Not Legal Advice!)

QUESTION: How can I cash a check made out to the deceased?

So a family member passed away around 6 months ago. During this time, there was a car she was paying off that got sent back, and they refinanced it. Despite the fact that we clarified multiple times she was deceased(and knew I was the informant on the certificate), they made out a check in her name. Upon calling my bank I was told even with the death certificate proving I am the informant, I wouldn’t be able to cash the check, and that I needed to call the issuer to get another check made. When I called the issuer, they told me they couldn’t re-issue the check in my name, and that I needed a power of attorney. They said if I had that i could just bring it to my bank and cash it no problem. Later I looked up power of attorney only to find out it practically does nothing in the case of a death. Is this true? And if so, is there paperwork that I could file to cash the check in my name?

Short Answer: You cannot. In 2022, the cutoff for a small estate is $25,000. Less than $25,000, you can use the small estate procedure. More than $25,000, welcome to the wonderful world of Probate!

Long Answer: It does not matter that you are the Death Certificate informant. That simply means you were the one who filled out the questionnaire for preparation of the Death Certificate.

Powers of Attorney die when the person who issued the power of attorney dies. Powers of Attorney are worthless when the person dies. Cannot be used.

You state that you “looked up power of attorney only to find out it practically does nothing in the case of a death. Is this true?” No. That is not true. The Power of Attorney does not do “practically” nothing, it does ABSOLUTELY nothing. Glad to clear that up!

So, again, welcome to probate. Even when there is relatively little at stake, it is a good idea to have a lawyer.

Here’s a fun project: Go to your county website. Review the Probate Court web pages. Almost guaranteed that you will find a letter from the Chief Probate Judge of your county begging and pleading with you to use legal counsel in probating the estate. That’s because when regular folks screw up the probate documentation (and sorry to say, they frequently do screw it up) now the Judge must sort out the mess. That is too much like real work. So, use a lawyer. You’ll be glad you did. And the judge too.

Question: What are my mother in laws lifetime stay rights if she is in a nursing home?

She deeded her property to my husband 10 years ago.

She is unable to take care of herself (cannot walk, unable to bathe herself, unable to use the toilet without assistance) and will likely never return home.

Short Answer: It depends. What does the deed actually say?

Is it crazy to think that a little more effort, care, thought, planning, prudence would have avoided this mess? Will you be surprised if your family loses a big chunk of the value of the house? Unnecessarily? Are you against taking effective action so this does not happen to your kids? Are we all living on the Good Ship Lollipop?

Long Answer: There are several ways this could go. Here are the three most likely. First, your mother-in-law may have fully deeded the house to your husband outright all those years ago. Second, mother-in-law may have used a contingent deed, variously known as a “transfer on death” or “enhanced life estate” or “ladybird” deed. Third, your hubby’s mother may have deeded the house to your better half and retained a life estate.

#1 Outright Deed – Fee Simple Absolute

Mom could have deeded her entire interest in the property to Sonny-boy. Could have used a “warranty deed” or a “quitclaim deed.” Either way, your husband has owned the house for the last ten years. This would be unusual.

Mother loves Son. OK! Son never has anything bad happen. Never applies for loan. Never has debt. Mom lives in house until she dies. No problem.

Mom still loves Son. Mom loves Son so much she makes all his favorite dishes. Like bacon wrapped bacon pork chops deep-fried with butter. And ice cream. Wrapped in coconut. Sonny-boy has massive heart attack. Fatal. Dead before dessert.

What happens when Mom gives Son her entire interest in the property and Son up and dies? Uh-oh! Daughter- in-law now owns the entire house. And daughter-in-law’s new husband wants a new boat and travel trailer. Bye-bye mother-in-law! Nice knowing’ ya! And there is nothing M-in-L can do about it now…

#2 Contingent Deed – Pay On Death, Enhanced Life Estate, Ladybird

Do you want to give up total control of your homestead? Do you want to live at the mercy of your son- or daughter- in-law? Are you against keeping all the money if you sell your house? Do you have a crystal ball to foretell the future with unerring accuracy?

The pay on death deed is the thing for you! There is no transfer of any interest in the property until you die. Until you die, with a pay on death deed, you can do whatever you please with your property. Because it is still, 100%, all of it, all your property. Until you die. Then it belongs to the person or persons you designated on the pay on death deed.

And no probate! Unless, of course, the person or persons you designated die before you do. Now you are up Probate Creek without a paddle. But hey! That never happens…

#3 Retained Life Estate

What if Mom wanted Son to have and maintain the property? Would you want to take care of Mom’s property, then lose it all if Mom changes her mind? Or if one of the other kids changed Mom’s mind for her? Are you opposed to being protected? Would it be crazy to make sure your efforts were not wasted?

Mom wants assurances that she can stay home.
Son wants assurances that he eventually gets the home.
Mom gives property to Son, but Mom has the right to live on the property for the rest of her life. That’s what we call a retained life estate deed. Mom retained the life estate. Here’s how it works.

LIFE ESTATE

In Michigan, “life estate” means that the person can use and live on the property for their entire lifetime. A life estate is valuable. How valuable? Depends on how long Mom will live. Or might live. Also on the value of the property. Also on the current economic environment. And rates of inflation and interest.

Back in the day, we used to have hearings with expert witnesses and do future value projections based on life expectancy and then present value regression analyses. But in today’s modern world, Michigan makes it easy to figure out how much a life estate is worth. Get a copy of the Bridges Eligibility Manual 400, Exhibit II – Life Estate and Life Lease Factor Table (BPB 2022-07) (available online!). This Table lists ages from birth to 109 years old. For each age, there is a 5-digit life estate factor. You look up the life estate factor that corresponds to the age of the person. Multiply the factor by the value of the real estate. Voila! That is the value of the person’s life estate.

IMPORTANT POINT: Life Estate values have nothing to do with the actual health of the Life Estate holder. Life Estate Value is all about chronological age. Birth certificate and calendar. Healthy or on hospice? Irrelevant.

A few examples. Let us suppose the family home is worth $100,000.

At age 2, the life estate factor is .99017. So, a two-year old’s life estate is worth $99,017. ($100,000 X .99017)

At age 109, the life estate factor is .04545. That means that the 109-year-old’s life estate is worth $4545. ($100,000 X .04545)

At age 70, the life estate factor is .60522. How much is a 70-year-old person’s life estate worth? Correct! $60,522. ($100,000 X .60522)

What this means is that your “mother in laws lifetime stay rights [sic]” are terminated while Mother-in-law is still alive, then she must be paid the value of the life estate as determined by the BEM 400 Life Estate Factor Table. Easy!

Let’s consider the flip side… the remaindermen.

If Mother’s life estate is worth $60,000, what is Son’s remainder interest worth? Correct again! $40,000 ($100,000 – $60,000). So simple, a child could do it, no?

Is it a bad idea to figure this out in advance? Is throwing money out the window better and cheaper than getting practical advice from folks who have walked the walk thousands of times for families like yours? Would you rather be “right” or rich? Would you rather cling to old ideas because “It worked for Uncle Charlie!” or be confident that your lifesavings are truly secure?

 


 

Happy Talkin’, Talkin’, Happy Talk

What, Me Worry? Why So Serious?

Did You Go Crazy Or Was It The World?

Return With Me Now To The Fabled Days Of Yesteryear!

Remember a little while ago? Inflation was low. Interest rates were low. Employment was high. Peace in the Middle East, between Israel and Arab countries. Terrorists defeated. Orderly exit from Afghanistan. America had so much oil, we exported the stuff. Border control equals more jobs for U.S. citizens. At higher wages. All races. Both genders. Troops coming home from endless, useless wars. Russia and China suppressed. Our biggest worry: a fat, little tinpot dictator with a starving population. Unfortunately, the chubby guy also had atomic bombs. And rockets.

Read today’s paper. War in Europe. Tens of thousands dead. Fighting over territory. History buffs may note parallels with early days of WWI and WWII. American babies need emergency formula supplies from foreign countries. Gas prices higher every time you fill up. Billions of dollars, state of the art weapons to defend Ukraine’s borders. U.S. border guards are welcome wagon for illegals with free phones, plane tickets, health care, welfare. Murder rates skyrocket. Major cities unlivable. Again. Consumer inflation at 8+%. Wholesale inflation at 16+%. In 1851, Sojourner Truth asked “Ain’t I a woman?” (Spoiler Alert: She was a woman.) In 2022, nobody knows. Not even a female Supreme Court nominee.

Media says long-ago time of peace and prosperity was evil bad. Russian puppet in White House. Shortage of real terrorism so FBI informants must orchestrate phony terrorist plots. Awful.

Media says today’s time of riots, inflation, war is super good. Tolerant. Totally fair. Peaceful! And real, non-FBI criminal loads up with guns to hunt Supreme Court Justice. And his family. Understandable.

Humans Are Naturally Pessimistic Evolutionary Psychology In A Nutshell

Two cavemen. Ug and Og. Ug is optimistic. Og is pessimistic.

Ug eat all kind berries, mushrooms, stuff. Yummy. Ug have no worries. Ug go in deep, dark cave. Fun! Ug say “Here kitty kitty kitty!” to saber-toothed tiger. Ug dead. Ug have no kids. Have no optimistic kids. Have no kids at all. Darwin wins!

Og wait ‘til Ug eat berries, mushrooms. Og watch what happen Ug. Og worries. Lots. Og stay out cave. Og stay away saber- tooth tiger. Og live long time. Og have lots kids. Have lots pessimistic, skeptical, suspicious kids. And so on…

You really are nuts. Your brain, at the center, has a couple of almonds. At least they sort of look like almonds. These things, the amygdalae, make sure you worry about stuff. That is why your ancestors didn’t die trying to pet saber-toothed tigers. That is why you don’t eat green meat. Or go broke in a nursing home.

Riddle Me This!

When times were objectively good, why did all the smart and powerful people tell us that everything was terrible?

When things are going to hell in a handbasket, why do all the smart and powerful people tell us that everything is wonderful now?

Are the smart and powerful people really that stupid? Are the smart and powerful people looking out for you? Can you trust your life, family, future to the smart and powerful people? Can you believe a single word they say? Asking for a friend…

Avoid Probate, Save Taxes, Get To Kids?
Traditional Planning Is Death Planning
And When You Die Broke, Drained By Long-Term Care, Probate Is Irrelevant

Traditional estate planning is supposed to avoid probate, save taxes, and dump your leftover stuff on your beneficiaries. After you die. Nobody cares what happens to you while you are alive. How does that help anyone? Stupid.

Traditional estate planning fails because the overwhelming majority of us will need long-term skilled care. 70% of us. For an average of 3 years. And we will go broke paying for it.

Is it surprising that thousands of recreation properties: cottages, cabins, hunting land, are lost to pay for long-term care? Why is your estate planner hurting you and your family? It is evil intent? Or stupidity?

LifePlanning™ defeats Nursing Home Poverty. Keep your stuff. Get the care you have already paid for. Good for you. Good for your family. Good example for society.

When my mother suffered from the dementia which led to her death, over 10 years ago, their estate plan preserved their lifesavings. Mom’s months in the nursing home did not mean Dad’s impoverishment. Dad spent the last years with security and peace of mind.

Is Now A Bad Time For A Real Solution?

Perhaps you think you already have an answer to this problem. Maybe you do not see this as a problem at all. It is possible that you do not believe in the passage of time or its effects on you.

Peace of mind and financial security are waiting for everyone who practices LifePlanning™. You know that peace only begins with financial security. Are legal documents the most important? Is avoiding probate the best you can do for yourself or your loved ones? Is family about inheritance? Or are these things only significant to support the foundation of your family?

Do you think finding the best care is easy? Do you want to get lost in the overwhelming flood of claims and promises? Or would you like straight answers?

Well, here you are. Now you know. No excuses. Get the information, insight, inspiration. It is your turn. Ignore the message? Invite poverty? Or get the freely offered information.

To make wise decisions. For you. For your loved ones.

The LifePlan™ Workshop has been the first step on the path to security and peace for thousands of families. Why not your family?

NO POVERTY. NO CHARITY. NO WASTE.
It is not chance. It is choice. Your choice.

Get Information Now. (800) 317-2812

Read the Print Version

Just The Facts Ma’am. All Good Stuff Without Bad Fluff

Is The World Changing? What Can You Do To Succeed?

You yourself are getting older. You expect to live longer. And healthier. Than any generation ever. In the history of the world. And you are correct. Has there ever been a generation quite like this one? Higher expectations. Greater achievement. Self-confidence. Ambition. Generosity.

Thanks to you, America is getting older. We grew up in an era of large families. Today a large family is three. Many of your kids have no kids. Maybe one or two. How often do you see a family of five? Youngsters are a shrinking slice of the population pie.

As folks get older, they have greater needs. No surprise. Physical and mental capabilities decline. It happens. But not at age 60 or 70, anymore. However, when we get to our mid-80’s, about half of us are going to need a hand. Who will be there to lend the hand?

Nurses are sick. And tired. Sick and tired of nursing. Hundreds of thousands have left the profession. Despite high pay. And bonuses. Other caregivers are under stress too. Good help is hard to find. My father had 8 kids (and a long-suffering son-in-law). Willing and able to spend 2-to-4 week turns with our active, ornery, mentally alert, Dad. For the last two years of his 96 years on this planet. How many of us have that many kids? How many are able? How many are willing? Who will fill the gap? How will those caregivers be paid?

Prices are going up. Way up. Way way up. No one should be fooled by the three-card monte scam being run out of Washington, D.C. Inflation is not just gasoline. Inflation is not just “transitory.” Or the Russians’ fault. Or the “supply chain.” Inflation destroys savings. Your savings. You thought you had enough to pay the caregivers. Maybe you should think again?

Is this tiresome and boring? After all, everybody knows these things. You know this is the truth. Go to the gas station or grocery store. Talk to your friends and neighbors, at church or the club. Why deny the evidence of your own eyes? And wallet?

Pathetic politicians and profiteering professionals pretend nothing has changed. Same old, same old. Their ideas failed when everything was easier. That’s all they’ve got. No new thinking. No response to the changing world.

Retreads. Like Russia hauling 60-year-old tanks out of cold storage to keep invading a country that is armed with modern weapons Anything to keep playing the old game. Blind stupidity: failed with our new stuff, so let’s fail again with our old stuff. Keep up the charade long enough to fleece another few suckers. Why does anyone fall for it?

Can’t we be brutally honest? Can’t we look around with clear eyes, good hearts, and a fierce determination to keep our independence, our right to choose our lives, and to make a better world for our families? Who says we must accept decline? Who says we must put up with this nonsense? Who says we must follow the well-trod path? Can’t we choose the “road less-taken”? You have forged your own way through this life with grace, compassion, and generosity, why stop now?

Just a few pebbles start a landslide. A little snowball launches an avalanche. Small changes in thinking about your future, acting and planning for your life to come, can change everything over time. Are you opposed to making the next 10, 20, 30 years the best they can be? Are you against securing your own future and that of your family? Do you believe that “Ignorance is Bliss”? Do you reject that “Knowledge is Power”?

No one would blame you for thinking this is all a lot of blather. But everything above is backed up by the facts. Laid out below. You don’t need clever talk. Just the facts. And here they are:

covid death spikes

You Are Going To Be Around A Lot Longer Than You Think

Doesn’t everybody know Americans are living longer? Murder rates are up, but that’s mostly 20 to 30-year-olds killing other 20 to 30-year-olds. COVID, the Elder Plague, did kill more older folks. From 2020 to 2021, an extra million Americans died. Blip.

However, the overall trend to longer life continues. And that means you. You are living longer. Good for you. Right? Why shouldn’t you plan to live until 80? 85? 90? Or more? Get used to it, you are living longer. And so are your friends and neighbors.

life expectancy graph

If people are living longer, will they need more resources? If you are living longer, will you need to make your own savings last longer? Or will you happily accept poverty? Or a government handout?

There Will Be A Lot More Older Folks In America And Fewer Young Ones

Everybody knows, as life expectancies increase, there are more and more older Americans. Despite the Elder Plague of COVID, which overwhelmingly killed older folks. And given the lower birth rate, not only will there be more seniors, but seniors will be a greater proportion of the population.

It is unusual, but sometimes government information confirms common sense.

older adult population

Isn’t it simple math: if older retired folks make up a larger and larger percentage, then younger, working people must be a smaller and smaller slice of the population pie?

You Are Not Getting Older, You Are Getting Better!
Up To A Point About Age 80, Then You Fall Off The Cliff…

Modern medical miracles are miraculous. But we all know that as we age, various things start to become troublesome. As lifetimes increase, there are more and more older Americans. Is it crazy to think that as there are more and more older Americans, there might be more and more disabled Americans? That’s what the numbers say.

disabilities by age and type chart

Where Have All The Nurses Gone?

Is anyone surprised that as more Americans need more nursing assistance, we will look to America’s nurses? But where have all the nurses gone? Even now, historically high wages, signing bonuses, premium pay, special benefits, and a smorgasbord of other goodies cannot keep nurses nursing.

Hundreds of thousands have dropped out of the profession in the last few years. Only 41% of practicing nurses are committed to remaining in service. 27% saying it was “very unlikely” they would quit. 14% flatly stated that they were “not leaving.” The rest range from “definitely leaving” to “somewhat unlikely” to depart.

When you need a nurse, who will be there? When you need a caregiver, who will answer the call? And how much will you have to pay? Can you?

nursing survey
Source: McKinsey November 2021 Frontline Workforce Survey

Inflation – Bad And Getting Worse. Much Worse

Gone to the gas station or grocery store recently? Then you already have the bad news on inflation. Prices going up, up, up. It is not an illusion. Hard at work spending your tax dollars, the Bureau of Labor Statistics provides the following melancholy reminder that your consumer dollars are melting away like snowflakes on a hot griddle.

And that is bad. What is worse, is the next chart. Take a look!

consumer price index chart

What is worse than prices at the pump skyrocketing? Future prices streaking to the stratosphere, that’s what! Thanks to the geniuses in Washington, you are already paying lots more than last year for your stuff. About 8.5% more. What about next year?

The “Producer Price Index” shows what raw materials cost. How do you manufacture finished goods? You start with raw materials. Raw materials now cost 16.3% more than a year ago. Do you believe that inflation is going away? Do you believe that the geniuses have it all under control? Do you believe in the Easter Bunny, the Loch Ness Monster, and the Lost City of Atlantis?

producer price index

If everything is more expensive, will the costs of long-term care be more expensive? Is it ridiculous to think that ignoring the devastation of inflation will ruin your retirement?

Secure Your Future, Avoid Nursing Home Poverty

Too much brutal honesty? Don’t want to see with clear eyes, good hearts, and a fierce determination to keep your independence? Choose your own life? Make this a better world for your family?

Must you accept decline? Must you put up with this nonsense? Why should you follow mindless path? Why not choose the “road less- taken”? Having forged your own way through this life with grace, compassion, and generosity, why would you stop now?

Why are you opposed to making the next 10, 20, 30 years the best they can be? Why are you against securing your own future and that of your family? Why do you believe that “Ignorance is Bliss”? Why reject that “Knowledge is Power”?

Why not come to a LifePlan™ Workshop? What do you have to lose? Besides everything?

 


 

Letters, We Get Letters!

Lady Byng Trophy* Withdrawn Marquess Of Queensbury Rules** Repealed And Anonymous Emails Too!

What, Me Throw Stones? Challenge Accepted!

We like to think we are genteel, well-mannered, calm, “with the milk of human kindness by the quart in every vein.” Shattering this self-delusion, a dear anonymous email correspondent recently suggested that your Reporter must live in a stainless-steel abode. After all, was not The Reporter throwing too many stones for his own good? Probably meant as a gentle warning. Food for thought!

On the other hand, as John Bunyan observed in 1650: “He that is down needs fear no fall, He that is low no pride…” With a lively appreciation of The Reporter’s own faults, foibles, and failings (multitudinous!) therefore, we soldier on. Without fear or favor!

*Annually, the Lady Byng Trophy is awarded to the National Hockey League player best exhibiting “sportsmanship and gentlemanly behavior.”

**In 1867, the M of Q Rules for boxing were intended to reduce death and maiming of English pugilists. Mike Tyson unavailable for comment.

Avoid Probate, Save Taxes, Get To Kids?
Traditional Planning Is Death Planning
And When You Die Broke, Drained By Long-Term Care, Probate Is Irrelevant

Traditional estate planning is supposed to avoid probate, save taxes, and dump your leftover stuff on your beneficiaries. After you die. Nobody cares what happens to you while you are alive. How does that help anyone? Stupid.

Traditional estate planning fails because the overwhelming majority of us will need long-term skilled care. 70% of us. For an average of 3 years. And we will go broke paying for it.

Is it surprising that thousands of recreation properties: cottages, cabins, hunting land, are lost to pay for long-term care? Why is your estate planner hurting you and your family? It is evil intent? Or stupidity?

LifePlanning™ defeats Nursing Home Poverty. Keep your stuff. Get the care you have already paid for. Good for you. Good for your family. Good example for society.

When my mother suffered from the dementia which led to her death, over 10 years ago, their estate plan preserved their lifesavings. Mom’s months in the nursing home did not mean Dad’s impoverishment. Dad spent the last years with security and peace of mind.

Is Now A Bad Time For A Real Solution?

Perhaps you think you already have an answer to this problem. Maybe you do not see this as a problem at all. It is possible that you do not believe in the passage of time or its effects on you.

Peace of mind and financial security are waiting for everyone who practices LifePlanning™. You know that peace only begins with financial security. Are legal documents the most important? Is avoiding probate the best you can do for yourself or your loved ones? Is family about inheritance? Or are these things only significant to support the foundation of your family?

Do you think finding the best care is easy? Do you want to get lost in the overwhelming flood of claims and promises? Or would you like straight answers?

Well, here you are. Now you know. No excuses. Get the information, insight, inspiration. It is your turn. Ignore the message? Invite poverty? Or get the freely offered information. To make wise decisions. For you. For your loved ones.

The LifePlan™ Workshop has been the first step on the path to security and peace for thousands of families. Why not your family?

NO POVERTY. NO CHARITY. NO WASTE.
It is not chance. It is choice. Your choice.

Get Information Now. (800) 317-2812

© 2024 Carrier Law | Privacy Policy