October 4th 2008 Newsletter


Dear Clients and Friends:

We will be presenting our popular “Long Term Care Estate Planning” Seminar on October 22, 2008. For more information and to register, click on the link to the right “Find Out More” to take you to our website and then click on the “Seminars” tab.


This Month’s Articles:

  • Are You Sitting Down? Medicare Premium to Remain Unchanged in 2009
  • Does Your Will Name an Alternate Beneficiary?
  • BOOK REVIEW: Financial Abuse of the Elderly: A Detective’s Case Files of Exploitation Crimes
  • How Does Work Affect Your Social Security Payments?
  • Investment Pundits Urge Calm and Patience
  • Governor Signs Bill Implementing Tough New Medi-Cal Laws
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    Are You Sitting Down? Medicare Premium to Remain Unchanged in 2009
    For the first time in eight years, Medicare’s monthly premium will remain unchanged for most of the program’s 44 million beneficiaries. The Centers for Medicare and Medicaid Services announced that the Part B premium will remain at its 2008 level for 2009.
    more…
    Does Your Will Name an Alternate Beneficiary?
    What will happen to your estate if your primary beneficiary does not survive you? If your will does not name an alternate beneficiary, your estate will be divided according to state law, and this may not conform to your wishes.
    more…
    BOOK REVIEW: Financial Abuse of the Elderly: A Detective’s Case Files of Exploitation Crimes
    Written by a former Florida police detective, this sometimes shocking book explains how the elderly are often exploited financially and offers tips for avoiding such exploitation.
    more…
    How Does Work Affect Your Social Security Payments?
    Many people continue to work beyond retirement age, either by choice or out of necessity. But if you are receiving Social Security benefits, you need to be aware of how working can affect your benefit payments.
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    Investment Pundits Urge Calm and Patience
    With major brokerage houses and insurers going under and Wall Street gyrating wildly, many are wondering if there is any safe place to put their money and what, if any, investment moves they should make.
    more…
    Governor Signs Bill Implementing Tough New Medi-Cal Laws
    It’s here! On September 27, 2008, Governor Schwarzenegger signed SB 483, implementing the federal Deficit Reduction Act of 2005. The new law will be effective January 1, 2009, although actual implementation of some provisions will await regulations. The new law will make it more difficult for many seniors to qualify for a Medi-Cal nursing home subsidy: (1) gift transactions to accelerate eligibilty will be highly penalized, (2) unmarried seniors with assessed home equity greater than $750,000 will no longer qualify, and (3) a much longer 5 year “lookback” period for prohibited transactions will be phased in. For seniors in immediate need of Medi-Cal, a short window of opportunity for planning may still be available before the new law goes into full effect.
    more…