Elder Care & Elder Law Blog

Journey into Elder Law

November 14, 2016

Franklin A. Drazen

Every once in a while, someone will ask me how I got in to elder law. Like many things in life, it wasn’t planned. It was more like a fortunate wandering into a wonderful career. I didn’t set out to become a lawyer. After college, the plan was for me to work in the family...

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Caregiver Respite

November 7, 2016

Franklin A. Drazen

I’ve worked with a lot of family caregivers over the years. Most burn the candle at both ends to take care of their elderly loved ones while tending to families and careers of their own. In many cases, family caregivers become so focused on the tasks at hand that they don’t even know they need...

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IRD: Is Inherited Property Taxable?

October 31, 2016

Franklin A. Drazen

I’m often asked whether a person who inherits property has to pay income taxes on that property. In most cases, the answer is no. However, there is one exception: Income in respect of a decedent, also known as IRD. All income the decedent would have received had death not occurred that was not properly includible...

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Do Trusts Pay Taxes?

October 23, 2016

Franklin A. Drazen

Do trusts pay taxes? It depends.  Generally speaking, the IRS divides trusts in two broad categories when it comes to the issue of taxation: In a grantor trust, the owner (the “grantor” in tax lingo) is treated as an individual taxpayer. All income generated by the grantor trust is reported by the trust owner’s on …

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Milford Trusts Lawyer: Everything You Need to Know About Irrevocable Trusts

September 28, 2016

Franklin A. Drazen

Irrevocable Trusts are an integral part of most asset protection planning strategies. They are used to protect property and assets from nursing homes and other predators and, depending on your individual situation, can end up saving you thousands of dollars. Milford Trusts attorneys have put together some of the basics to give you everything you...

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Milford Estate Planning for Blended Families

September 28, 2016

Franklin A. Drazen

Many people are familiar with this common horror story: a parent remarries later in life to a person with a family of his or her own. When the parent passes away, their estate goes entirely to their new spouse through the laws of intestacy. When the new spouse then dies, the cumulative estate goes to …

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Claiming Death Benefits in Milford

September 28, 2016

Franklin A. Drazen

The death of a loved one is one of the most difficult experiences to deal with in life. What makes the situation even harder is the financial aspect that accompanies funeral and burial expenses. Money is often the last thing grieving families want to think about but, unfortunately, expenses related to death must be paid...

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Building a Care Team Following an Alzheimer’s Diagnosis | Milford Incapacity Lawyer

September 28, 2016

Franklin A. Drazen

If you or a loved one has recently been diagnosed with Alzheimer’s disease, you are undoubtedly going through an emotionally-draining and tumultuous time. One thing that could help you is to plan ahead and develop your own care team. This is a group of support people that will help you through the different stages of...

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Working with an Elder Lawyer in Milford to Save Big on Nursing Home Costs

September 15, 2016

Franklin A. Drazen

Elder lawyers in Milford are well-versed on the ins-and-outs of nursing home expenses and they continually work with seniors to determine how best to lower costs and protect assets.  One recommendation that does not always get enough attention is to spend a little on remodeling your home to save big on nursing home costs down...

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Beware! Estate Planning Fraud in Milford is on the Rise

September 15, 2016

Franklin A. Drazen

Identity theft is the fastest rising crime in America today. Criminal syndicates located overseas are gaining access to your personal information through a variety of tactics and using that information to open credit cards and bank accounts to buy products that they are then selling for profit. Due to complex international laws most of these...

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