Posted by John Henry | Aug 18, 2024 |
Double Board-Certified Attorney Receives Another Distinction
John B. Henry, III is the managing attorney and owner of the Law Office of John B. Henry, III, PLLC, that provides legal services covering Estate Planning, Business Succession Planning, Elder Law, Special Needs Trusts, Probate and Gu...
Posted by John Henry | Dec 14, 2023 |
CTA Imposes New Small Business Reporting Requirements for 2024
Small business owners will have one more item on their compliance to-do list when the Corporate Transparency Act (CTA) takes effect next year.
The CTA,[1] enacted as part of the Anti-Money Laundering Act of 2020 (AMLA), places new...
Posted by John Henry | Aug 28, 2023 |
The aging population is expected to transfer $30 trillion in the coming years, per Forbes. According to the Survey of Consumer Finances, the median inheritance is $69,000; the median for trust fund wealth transfers is $285,000.
Many individuals planning their legacies wish to provide for their f...
Posted by John Henry | Aug 21, 2023 |
The population of seniors over 65 is expected to increase exponentially over the next decade. A study by the Office of Policy Development and Research exposed the country's unpreparedness for housing the aged population. America has three major housing issues for seniors: affordability, physical ...
Posted by John Henry | Aug 14, 2023 |
Starting an estate plan can be overwhelming, and you probably have many questions. You are not alone. Below are eight questions people often ask about last wills and testaments as they begin to think about estate planning.
1. Aren't Wills Only for Wealthy People?
This is a common myth. Last w...
Posted by John Henry | Aug 07, 2023 |
Health Affairs estimates that 4 million older adults can only leave their homes with assistance, making accessing care challenging.
The Centers for Disease Control and Prevention reports that 1.3 million Americans receive care in nursing homes. According to A Place For Mom, more than 810,000 res...
Posted by John Henry | Jul 31, 2023 |
A trust is a legal document that you can set up to give assets to someone else. Trusts can be revocable or irrevocable. If you (the grantor) choose to create a revocable trust, you can modify it at any point during your lifetime. With irrevocable trusts, however, you generally cannot make any cha...
Posted by John Henry | Jul 24, 2023 |
In a major win for nursing home residents and their families, the U.S. Supreme Court has upheld the right to sue government-run nursing homes under the Federal Nursing Home Reform Act (FNHRA). In a 7-2 decision, the court decided that these plaintiffs could seek relief in federal court.
Backgrou...
Posted by John Henry | Jul 17, 2023 |
When people pass away, they leave behind assets, property, and possessions that can have sentimental and real value for surviving family members and loved ones. Everything that an individual owns upon their death is known as their estate.
According to Estate Exec, the average size of an estate i...
Posted by John Henry | Jul 10, 2023 |
Vermont has become the first state in the U.S. to update its end-of-life choice law to make it legal for nonresidents to pursue medically assisted suicide.
In May 2023, Gov. Phil Scott (R-VT) signed legislation removing the residency requirement from Vermont's Patient Choice and Control at End o...
Posted by John Henry | Jul 03, 2023 |
Safe housing that meets older adults' needs is essential to healthy aging in communities. Many seniors with low, fixed incomes struggle to balance housing expenses with the costs of health care, transportation, and groceries.
Finding inexpensive, safe, and accessible housing can be challenging. ...
Posted by John Henry | Jun 26, 2023 |
A power of attorney (POA) is a document that authorizes one or more parties (known as the “agent” or “attorney-in-fact”) to act on behalf of a person (referred to as the “principal”). Most powers of attorney documents are guided by state law, which sets forth the POA form and the specific require...
Posted by John Henry | Jun 19, 2023 |
Many older Americans choose to have their family members care for them as they age. Despite the comfort a familiar face may provide, there is a significant cost for the loved ones who sacrifice their time, and often their upward economic mobility, to ensure that they can secure proper care for th...
Posted by John Henry | Jun 12, 2023 |
In the wake of the pandemic, rising inflation, mass shooting tragedies, and other events, more people recognize that they need to plan for the future. Yet while financial planning has been at the top of many Americans' minds, a vast majority of people have stalled in creating an estate plan.
Acc...
Posted by John Henry | Jun 05, 2023 |
Hospice care is a type of health care that patients with terminally ill conditions rely on at the end of their lives. This type of care focuses on pain management and emotional, spiritual, and familial support for patients nearing the end of their lives.
There are several options for receiving h...
Posted by John Henry | May 29, 2023 |
Taking on the responsibility of providing full-time care for an aging or disabled loved one can be a rewarding experience. Being a primary caregiver helps you rest assured that your loved one is receiving compassionate care from someone who will go above and beyond to ensure they are comfortable ...
Posted by John Henry | May 22, 2023 |
According to the American Heart Association, high blood pressure contributes to many significant health conditions, including heart attack, heart failure, stroke, and kidney failure. In the United States, 121.5 million adults suffer from high blood pressure, also known as hypertension.
While hal...
Posted by John Henry | May 15, 2023 |
People create wills to establish what happens to their money and assets when they pass away. In these estate planning documents, they can name beneficiaries – individuals who will receive money, other assets, or specific bequests like sentimental items upon the person's death.
Are Beneficiaries ...
Posted by John Henry | May 08, 2023 |
Most older adults want to remain in their homes and communities as they age rather than move into assisted living facilities or nursing homes.
For those who wish to maintain their independence and continue living at home as they grow older, taking certain steps to protect their physical, mental,...
Posted by John Henry | May 01, 2023 |
According to a new study completed by Caring.com, a mere one in three people has an estate plan in place. Worse yet, more than 40 percent of those without a will report that they wouldn't create one until they had encountered a serious health concern. In the wake of the pandemic, more people rec...
Posted by John Henry | Oct 25, 2021 |
Mosley the cat can be a member of the family, but what happens to Mosley after you are gone? How can you ensure your pet will be cared for? One option is to create a pet trust. While you can give directions in your will to leave your pet to a caretaker, there is no guarantee that the caretaker wi...
Posted by John Henry | Oct 20, 2021 |
While a full guardianship may be necessary for many individuals who are incapable of managing their own affairs due to dementia or intellectual, developmental or mental health disabilities, the case of Britney Spears underlines the option of more limited alternatives.
Every adult is assumed to b...
Posted by John Henry | Oct 18, 2021 |
Long-term care costs can add up quickly. For veterans and the surviving spouses of veterans who need in-home care or are in a nursing home, help may be available.
The Veterans Administration (VA) has an underused pension benefit called Aid and Attendance that provides money to those who need ass...
Posted by John Henry | Oct 11, 2021 |
Do you have a will? A durable power of attorney? A health care proxy? If so, no reason to read on. If not, why not? Failure to create an estate plan risks causing discord in your family for generations to come.
Just Not Getting Around to It
A discussion of why everyone needs an estate plan star...
Posted by John Henry | Oct 04, 2021 |
Whether your spouse has just passed away or you have lost your mom or dad, the emotional trauma of losing a loved one often comes with a bewildering array of financial and legal issues demanding attention. It can be difficult enough for family members to handle the emotional trauma of a death, le...