Are you looking for senior resources in Guilford County, NC (Greensboro, High Point, Burlington, Kernersville) for yourself or a loved one?  Find all of the best local providers at The Eldercare Channel, a video-based web directory of senior care providers in a variety of need areas, including but not limited to home health care, elder law, assisted living, medical devices, Alzheimer’s care, and resources for paying for care.  Your local host for The Eldercare Channel is Cheryl David, is a local Certified Estate Planning Specialist and Elder Law Attorney with over 25 years of experience.

The Law Offices Of Cheryl David is a member of the American Academy of Estate Planning Attorneys.

The recent Pennsylvania State football sex scandal has revealed insightful details into former head coach Joe Paterno’s estate planning efforts. Prior to the scandal recently coming to light, Mr. Paterno had transferred the home to his wife for the sum of $1. The couple originally purchased the home in 1969 for an original price of $58,000. At the time of transfer the home was estimated to be worth about $594,000.

The transfer appears to be part of a fairly common practice between spouses who wish to equalize their share of assets as part of an estate plan. The current estate tax exemption is $10 million for a couple, but only $5 million for a single person. In order to obtain the maximum benefit from this exemption, it isn’t uncommon for each spouse to create a trust and to transfer assets to one or another spouse’s trust to balance out how much assets each has.

At first glance, it appears as if the Paterno home transfer is simply a way for the couple balance out each spouse’s worth and avoid potential estate taxes later on. However, if the transfer of the home to the trust was intended as a means to protect the property from a potential lawsuit, the trust transfer may not be enough to keep it out of the hands of any lawsuit judgment that may come against Mr. Paterno. Then again, because the home was jointly owned before the transfer, any lawsuit against Mr. Paterno individually would probably not be able to seize it in settlement unless it named both husband and wife as parties in the lawsuit.

The Law Offices Of Cheryl David is a member of the American Academy of Estate Planning Attorneys.

The holidays are a great time to express your gratitude to friends, family members and anyone who plays an important part of your life. For those of us who want to express our appreciation to the men and women of the Armed Forces, there are several factors to keep in mind. Sending a care package or gift to service members is a wonderful tradition, but you’ll need to ensure you take the proper steps so your gift gets to those who deserve it.

Tip 1: No More Iraq Mail. As of November 17th, the United States Post Office has stopped taking mail for military post offices in Iraq. However, you may still be able to send packages to troops serving in Iraq by sending them to the stateside address associated with the unit.

Tip 2: Send to Individuals. The Department of Defense no longer allows you to send packages addressed to “any soldier” or similar non-specific designations. You can, however, send your package or card to a specific service member. If you don’t know a service member, you can often find someone by asking friends and family if they know of someone serving overseas.

Tip 3: Send to Organizations. There are a variety of organizations that send packages to service personnel, such as the American Red Cross and the USO. You can contact these organizations individually for details on how to send some holiday cheer to the troops.

The Law Offices Of Cheryl David is a member of the American Academy of Estate Planning Attorneys.

Like many people, your busy life may prevent you from checking in with your elderly parents as often as you may like. The holidays offer you a chance to gauge how your parents are faring. Though we naturally may assume that our parents are capable and able, there are signs you can look for that may indicate your parents may need more assistance taking care of themselves.

Sign 1: Unpaid bills or piles of unopened mail. As we age, we are less able to organize our thoughts and remember important dates or jobs we have to do. Collections of unopened mail can be an indicator that your parents aren’t remembering to keep up with their bills, which can lead to serious trouble.

Sign 2: Repeating stories or not remembering. While your parents have probably told you the same stories over and over, an inability to remember talking about something can be a sign that there are more significant memory issues.

Sign 3: More clutter or an untidy household. If you find that the cleanliness or orderliness of your parent’s home has declined in the last year, this too could be a sign of diminishing capacity. Remembering to clean is a simple task that can easily go unattended as we get older.

Sign 4: Weight changes. A significant loss or gain of weight is always a potential sign of a more serious medical issue. It may be that your parent is no longer cooking and is eating out more, or it could be indicative of a more serious medical issue.

The Law Offices Of Cheryl David is a member of the American Academy of Estate Planning Attorneys.

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The Law Offices Of Cheryl David is a member of the American Academy of Estate Planning Attorneys.

The Law Offices Of Cheryl David is a member of the American Academy of Estate Planning Attorneys.

The latest census revealed some interesting information about American society. For the first time, married couples represent less than half of all U.S. households.  Estate planning is a must for any adult, but for couples who are in relationships other than traditional marriages, having an effective, up-to-date estate plan is all the more important. There are laws that serve as a default estate plan for those who don’t have one, but these laws are structured with the traditional married couple in mind.

If you and your partner are not married, and you die without an estate plan, your family could be in for some unwelcome surprises. For instance, depending on the way your home is titled, it could be distributed to your children, your parents or your siblings, and your partner could be left out in the cold. Even worse, without a solid plan, your children might go to someone other than your partner in the event of your death or disability. And when it comes to estate taxes, unmarried couples are simply not afforded the same automatic legal benefits that flow to married couples – however, an estate plan can help you minimize your estate taxes.

If you want to make sure your loved ones are protected and provided for in the way you think is best, you need to meet with an experienced estate planning attorney and put a plan in place before it’s too late.  We can help – call us today at (336) 547-9999.

The Law Offices Of Cheryl David is a member of the American Academy of Estate Planning Attorneys.

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The Law Offices Of Cheryl David is a member of the American Academy of Estate Planning Attorneys.

The Law Offices of Cheryl David is proud to be a hole sponsor for Horspower.org’s Third Annual Pin High Open on May 26 at Bryan Park’s Player’s Course.  Proceeds from this golf tournament benefit the Horsepower Therapeutic Learning Center.

HORSEPOWER‘s mission is to promote and enhance the welfare of individuals with disabilities by providing a program of therapeutic, educational and recreational value, and further, to empower individuals who are mentally, physically, emotionally and/or socially challenged through the use of horses, while providing therapeutic benefits in a safe and controlled atmosphere.

Thank you to Horsepower for including us in this important fundraiser!

The Law Offices Of Cheryl David is a member of the American Academy of Estate Planning Attorneys.

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The Law Offices Of Cheryl David is a member of the American Academy of Estate Planning Attorneys.