PRESS RELEASE:
Denise Kent of the Denise Kent Law Group is pleased to announce her affiliation with WealthCounsel LLC – a nationwide collaboration of trusts and estate attorneys and other legal, tax and business professionals, and also with
ElderCounsel LLC, a collaboration of Elder Law attorneys. As a member, Kent contributes to and draws on
the knowledge and expertise of thousands of her colleagues.
Attorney Kent said that she joined WealthCounsel in order to offer clients the most up-to-date estate planning strategies, and joined ElderCounsel in order to provide the most sophisticated solutions to issues facing the elderly and disabled. Using their resources, clients are assisted with cutting-edge planning techniques executed in documents that are comprehensive, flexible and easy-to-read.
WealthCounsel and ElderCounsel members contribute to the ongoing development of practice systems through web-based discussion groups, study groups and continuing education courses. This year's curriculum offering include such topics as, "Power of the Lifetime QTIP", "Using LLC
to Protect Family Assets", "Trustee Selection for Irrevocable Trusts" and “Medicaid Immersion”.
WealthCounsel systems were recently praised during the 45th annual Philip E. Heckerling Institute on Estate Planning hosted by the University of Miami School of Law.
Kent is pleased to bring such quality to her practice, and
looks forward to utilizing colleagues and resources to deliver technically up-to-date peer-reviewed documents, advice and counsel for clients.
Denise Kent founded the Denise Kent Law Group in 2008, and practices together with her associate, attorney Suzanne Benfield. Their practice areas include Estate Planning, Probate & Estate Administration, and Elder Law, as well as certain Family Law services, such as Divorce Mediation. Key services include Medicaid Planning
and Special Needs Trusts.
Kent is a graduate of Gordon College and Mass School of Law and is licensed to practice in Massachusetts and the U.S. District Courts of Massachusetts. In additon, she earned a Certificate in Trust and Estate Planning, from The Foundation for Continuing Legal Education, Inc., Wenham, MA
To learn more about the firm, visit www.denisekentlaw.com
SOURCE Denise Kent Law Group
Thursday, September 29, 2011
Thursday, September 15, 2011
Elder Law and How I Help
I practice Elder Law, which, in general, means that I assist elderly and/or disabled people find the help and the resources to live as independently as possible, with respect and dignity. Long-term care can be devastating to a person’s lifestyle, finances and security. It drastically alters or completely eliminates the three principal retirement dreams of elderly Americans, which are:
1. Remaining independent in the home without intervention from others
2. Maintaining good health and receiving adequate health care
3. Having enough money for everyday needs and not outliving assets and income
Have you considered the following:
What do you want your children or friends to do on your behalf?
When it comes time for them to help, what if you can't say what you want because of a physical or mental disability? This is where a written estate plan comes into effect.
Do you have a financial plan or long term care insurance? Retirement savings can disappear quickly when used for care services.
What types of care services and facilities are available and what are the costs?
What will government programs pay for and how do you qualify?
When you make directives, assignments and arrangements in advance of needing elder care, then everyone involved can follow the prearranged care plan. In a best-case scenario, an individual has made financial, legal and personal long term care plans years before. Without such planning, families often find themselves in crisis where time, money and lifestyle are sacrificed, and caregivers suffer both emotionally and medically themselves.
There are a lot of new services and programs available to draw from, and it’s my pleasure to work with families and assist them in navigating the maze of pressing health care and financial needs.
Sincerely,
Denise Kent
“Helping people, one family at a time.”
1. Remaining independent in the home without intervention from others
2. Maintaining good health and receiving adequate health care
3. Having enough money for everyday needs and not outliving assets and income
Have you considered the following:
What do you want your children or friends to do on your behalf?
When it comes time for them to help, what if you can't say what you want because of a physical or mental disability? This is where a written estate plan comes into effect.
Do you have a financial plan or long term care insurance? Retirement savings can disappear quickly when used for care services.
What types of care services and facilities are available and what are the costs?
What will government programs pay for and how do you qualify?
When you make directives, assignments and arrangements in advance of needing elder care, then everyone involved can follow the prearranged care plan. In a best-case scenario, an individual has made financial, legal and personal long term care plans years before. Without such planning, families often find themselves in crisis where time, money and lifestyle are sacrificed, and caregivers suffer both emotionally and medically themselves.
There are a lot of new services and programs available to draw from, and it’s my pleasure to work with families and assist them in navigating the maze of pressing health care and financial needs.
Sincerely,
Denise Kent
“Helping people, one family at a time.”
Wednesday, August 3, 2011
The 2011 Budget Control Act and How it Affects My Clients
What follows is a VERY brief summary of the key issues that concern me and my clients, and ultimately, all of us.
The 2011 Budget Control Act established an agreed-upon deficit-reduction amount, but largely leaves specifics out. It is therefore difficult to know for certain what changes we will be looking at, but we do know that the Act puts major tax changes under consideration, and possibly social programs as well.
Personal income tax deductions/credits, and business deductions are back on the table for review by the special joint committee. Also, certain health programs (long-term care insurance & disability) that were slated to begin in 2012 may be abolished, if the committee follows the recommendations proposed by the "gang of six." Results: once again, such safety-nets as LTC and disability insurance will remain largely unaffordable for most Americans.
Additionally, the existing federal estate tax exemption, together with associated tax cuts that were enacted in December, 2010, are still slated to sunset on December 31, 2012, returning to exemption levels of $1 million, and a tax rate of 55%. Pair that with the proposed elimination of state tax credits, and you get a potentially horrific estate tax burden. Results: Many unsuspecting Massachusetts residents could be subject to both the Massachusetts (16-20%) AND Federal Estate Tax (55%) burdens, which could confiscate over 70% of gross estate, if they have not done proper estate planning!
I'll be watching carefully, because any changes in tax laws or health care reform programs need to be taken into consideration for estate planning, long-term care planning, and business entity formation/asset protection planning.
The 2011 Budget Control Act established an agreed-upon deficit-reduction amount, but largely leaves specifics out. It is therefore difficult to know for certain what changes we will be looking at, but we do know that the Act puts major tax changes under consideration, and possibly social programs as well.
Personal income tax deductions/credits, and business deductions are back on the table for review by the special joint committee. Also, certain health programs (long-term care insurance & disability) that were slated to begin in 2012 may be abolished, if the committee follows the recommendations proposed by the "gang of six." Results: once again, such safety-nets as LTC and disability insurance will remain largely unaffordable for most Americans.
Additionally, the existing federal estate tax exemption, together with associated tax cuts that were enacted in December, 2010, are still slated to sunset on December 31, 2012, returning to exemption levels of $1 million, and a tax rate of 55%. Pair that with the proposed elimination of state tax credits, and you get a potentially horrific estate tax burden. Results: Many unsuspecting Massachusetts residents could be subject to both the Massachusetts (16-20%) AND Federal Estate Tax (55%) burdens, which could confiscate over 70% of gross estate, if they have not done proper estate planning!
I'll be watching carefully, because any changes in tax laws or health care reform programs need to be taken into consideration for estate planning, long-term care planning, and business entity formation/asset protection planning.
Friday, July 8, 2011
Estate Planning for Same-Sex Couples & Unmarried Life Partners
Same-sex couples and unmarried partners are confronted with many legal uncertainties due to the varying degrees of protection afforded them by the federal and state governments. Changes in state and federal law create a patchwork of protection for these couples.
Comprehensive planning is essential to protect inheritance rights, property distribution, and medical and final arrangement decisions. Tax planning and retitling are necessary to avoid unintended consequences.
Bodies of Law that affect unmarried but committed individuals:
Probate Laws
Domestic Relations Laws
Disability Laws
Tax Laws
What Benefits does marriage (as recognized by the federal government) confer?
Property Rights
Tenancy by the Entireties
Homestead
Corporate Benefits
Pensions and Social Security
Divorce
Inheritance Rights
Spousal Elective Share
Probate Preferences
Taxes
Other Rights Include Legal Standing in Personal Injury Cases
Loss of Consortium
Intentional Infliction of Emotional Distress/Wrongful Death
Other Rights
Spousal Privileges (Testimony & Communication)
Family Medical Leave Act
Health Care Rules/Guardianship
Premarital Agreements
Adoption
What tools do I employ, as an Estate Planning Attorney?
Life Alliance Agreements - non-marital agreement between unmarried persons
Estate Planning Strategies
Comprehensive Will package
Comprehensive Trust package
Until the laws change, it’s important to plan accordingly so that your loved ones will be protected, and your wishes carried out.
Comprehensive planning is essential to protect inheritance rights, property distribution, and medical and final arrangement decisions. Tax planning and retitling are necessary to avoid unintended consequences.
Bodies of Law that affect unmarried but committed individuals:
Probate Laws
Domestic Relations Laws
Disability Laws
Tax Laws
What Benefits does marriage (as recognized by the federal government) confer?
Property Rights
Tenancy by the Entireties
Homestead
Corporate Benefits
Pensions and Social Security
Divorce
Inheritance Rights
Spousal Elective Share
Probate Preferences
Taxes
Other Rights Include Legal Standing in Personal Injury Cases
Loss of Consortium
Intentional Infliction of Emotional Distress/Wrongful Death
Other Rights
Spousal Privileges (Testimony & Communication)
Family Medical Leave Act
Health Care Rules/Guardianship
Premarital Agreements
Adoption
What tools do I employ, as an Estate Planning Attorney?
Life Alliance Agreements - non-marital agreement between unmarried persons
Estate Planning Strategies
Comprehensive Will package
Comprehensive Trust package
Until the laws change, it’s important to plan accordingly so that your loved ones will be protected, and your wishes carried out.
Wednesday, June 29, 2011
Planning and Paying for Long-term care
Do you know someone who has spent time in a nursing home? It is one of those situations where we feel “It could never happen to me.” But studies show that approximately two (2) out of every five (5) people reaching age 65 will need some type of long-term care. Are you one of the many people who would prefer to stay at home no matter what the cost? Without proper planning, the lack of available services and the staggering price-tag may leave you with few alternatives.
In Massachusetts, the annual cost of nursing home care ranges from approximately $90,000.00 to over $100,000.00, and it is climbing each year! That is approximately $300.00, per day. If you choose to stay at home, where most of us would prefer to be, and hire home health aides, the cost of your care could be even more. Home health care costs vary widely, but agencies charge anywhere from $18 to $30 per hour for home health aides. In some cases, people pay over $200,000 per year for 24 hour-a-day home care. What many people fail to realize is that their health insurance and Medicare will not cover the cost of long-term care, whether at home, in assisted living or in a nursing facility. Paying for long-term care is a personal responsibility which has become a primary concern for all age groups across our state and the nation.
Within the past year, reform of Medicare, Social Security and Medicaid has risen to the top of the government’s agenda. It is thus imperative that seniors, those approaching retirement age, and the families of those needing long-term care take advantage of the planning opportunities that exist today. Everyone's situation is unique, and it is impossible to discuss all of the planning opportunities in this seminar. As with any planning, a good way to begin is to seek competent advice from a qualified professional. At Denise Kent Law Group, we are dedicated to helping you find solutions to your long-term care concerns.
For more information, join us at our next Long-Term Care /Asset Protection Seminar:
Wednesday, September 14th, at 1PM, at the Ipswich Council on Aging, 25 Green Street in Ipswich, MA.
In Massachusetts, the annual cost of nursing home care ranges from approximately $90,000.00 to over $100,000.00, and it is climbing each year! That is approximately $300.00, per day. If you choose to stay at home, where most of us would prefer to be, and hire home health aides, the cost of your care could be even more. Home health care costs vary widely, but agencies charge anywhere from $18 to $30 per hour for home health aides. In some cases, people pay over $200,000 per year for 24 hour-a-day home care. What many people fail to realize is that their health insurance and Medicare will not cover the cost of long-term care, whether at home, in assisted living or in a nursing facility. Paying for long-term care is a personal responsibility which has become a primary concern for all age groups across our state and the nation.
Within the past year, reform of Medicare, Social Security and Medicaid has risen to the top of the government’s agenda. It is thus imperative that seniors, those approaching retirement age, and the families of those needing long-term care take advantage of the planning opportunities that exist today. Everyone's situation is unique, and it is impossible to discuss all of the planning opportunities in this seminar. As with any planning, a good way to begin is to seek competent advice from a qualified professional. At Denise Kent Law Group, we are dedicated to helping you find solutions to your long-term care concerns.
For more information, join us at our next Long-Term Care /Asset Protection Seminar:
Wednesday, September 14th, at 1PM, at the Ipswich Council on Aging, 25 Green Street in Ipswich, MA.
Wednesday, June 8, 2011
Medicaid Planning / Long-Term Care Planning Seminar
I’m pleased to announce the next presentation in our seminar series, Long-Term Care Planning. This topic is of special concern to elderly and disabled persons, who may be facing such issues right now, or who fear impoverishment if they become unable to live independently.
This seminar will focus on the topic of long-term care planning and asset protection. We will discuss the costs related to care at home, in assisted living, and in skilled nursing facilities. We will discuss options for maximizing resources in order to pay for such care as needed, and the role that Medicaid plays when a person’s resources fall short.
What can you do to protect your assets? Come join us to find out!
There is ample free parking on-site, and refreshments will be served.
Warm regards,
Denise M. Kent
Date: Wednesday, June 29, 2011
Time: 10:00 AM
Place:
Salem Council on Aging
5 Broad Street
Salem, MA 01970
Register by phone at (978) 468-9000 or online, at the following link:
This seminar will focus on the topic of long-term care planning and asset protection. We will discuss the costs related to care at home, in assisted living, and in skilled nursing facilities. We will discuss options for maximizing resources in order to pay for such care as needed, and the role that Medicaid plays when a person’s resources fall short.
What can you do to protect your assets? Come join us to find out!
There is ample free parking on-site, and refreshments will be served.
Warm regards,
Denise M. Kent
Date: Wednesday, June 29, 2011
Time: 10:00 AM
Place:
Salem Council on Aging
5 Broad Street
Salem, MA 01970
Register by phone at (978) 468-9000 or online, at the following link:
Thursday, March 3, 2011
Spring & Summer 2011 Seminar Series
Topic: Estate Planning Bootcamp: Muscle up on your knowledge on estate planning!
When: Thursday, March 24th, 2011 at 12:45PM
Where: Ipswich Council on Aging, 25 Green Street, Ipswich MA
and
Topic: Medicaid Planning: How to Protect Your Assets
When: Wednesday, June 29th, 2011 at 10:00AM
Where: Salem Council on Aging, 5 Broad Street, Salem MA
When: Thursday, March 24th, 2011 at 12:45PM
Where: Ipswich Council on Aging, 25 Green Street, Ipswich MA
and
Topic: Medicaid Planning: How to Protect Your Assets
When: Wednesday, June 29th, 2011 at 10:00AM
Where: Salem Council on Aging, 5 Broad Street, Salem MA
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