As a reminder, your college-bound children should have a durable power of attorney and designation of patient advocate in place before they head off to school this fall. In general, anyone over the age of 18 should have these documents prepared. These documents allow your child to authorize another individual to act on his or her behalf in certain situations. Contrary to what most believe, parents do not have any authority to act on behalf of their adult children (age 18 and older) simply because they are “parents” without such documents in place.
The government has revised the CHIP Notice as of July 31, 2012. As you are likely preparing and updating your open enrollment materials, if you are required to send the CHIP notice, please be sure to use the attached revised notice.
The government has revised the CHIP Notice as of July 31, 2012. As you are likely preparing and updating your open enrollment materials, if you are required to send the CHIP notice, please be sure to use the revised notice:Premium Assistance Under Medicaid and the Children’s Health Insurance Program (CHIP)
Gifting opportunity expires at end of 2012.
Current law allows individuals an equivalent tax exemption of up to $5,120,000 to apply to estates, gifts and generation-skipping transfers. Unless Congress acts prior to December 31, 2012, that amount will revert to $1,000,000 on January 1, 2013. Further, while this year’s top tax rate is 35%, that rate will rise to 55% on January 1st.
Compliance, Quality Assurance & Performance Improvement Programs for Skilled Nursing Facilities and Nursing Facilities
The Michigan Office of Regulatory Reinvention (ORR) recently issued its recommendations of proposed changes to Michigan’s liquor control laws and regulations. The recommendations were released after an in-depth review of current laws, rules and regulations with a view toward improving the regulatory environment. The mission of the ORR is to ensure that Michigan’s regulatory environment is simple, fair, efficient and conducive to business growth and job creation. The ORR report included 72 recommendations.
Today, the State Bar of Michigan hosted a seminar for seniors at 28 venues across the State of Michigan educating seniors about living trusts, how to avoid estate planning mistakes, and how to avoid deceptive sales tactics of non-lawyers selling cookie-cutter living trust documents and annuities. Each location had at least 1 or 2 volunteer speakers who presented the materials that were prepared by the State Bar of Michigan’s Unauthorized Practice of Law Committee, Elder Law and Disability Rights Section, and Probate and Estate Planning Sections. I co-presented these materials with the Chair of the Unauthorized Practice of Law Committee, Christopher Hastings, at the Senior Neighborhood Center located in Lowell, Kent County, Michigan.