Seniors and Veterans Need Proper Guidance to Ensure they Qualify for Benefits
Low-income and elderly veterans seeking to qualify for government benefits face a confusing array of rules and regulations and may feel compelled to deliberately manipulate their finances with an eye toward these benefits. An alarming recent trend has seen unscrupulous or misinformed investment professionals and attorneys guiding veterans into investments and wealth management strategies that may be ill-suited to their needs or may even subject them to penalties.
FINRA Rule 5123 Regarding Notice Filings for Private Placements Becomes Effective December 3, 2012
FINRA Rule 5123 (“Rule 5123” or the “Rule”) becomes effective on December 3, 2012 and will apply prospectively to private placements that begin selling efforts on or after this date. Rule 5123 requires a member firm of the Financial Industry Regulatory Authority (“FINRA”) selling an issuer’s securities in a private placement to file with FINRA a copy of any private placement memorandum, term sheet or other offering document, including any materially amended versions thereof, used by the firm. Under the Rule, the FINRA member firm must file the disclosure documents within 15 calendar days of the date of the first sale or indicate that it did not use any such offering documents.
NYC VA MEDICAL CENTER STILL CLOSED DUE TO FLOODING – RESOURCES FOR NYC VETERANS
long list of damages caused by Hurricane Sandy, the Manhattan VA Medical Center, located on 423 East 23rd Street, suffered major damages from flooding that occurred in their basement which damaged mechanical systems, and the fire suppression system. With assistance from the VA NY Harbor Healthcare System, here is a list of emergency telephone numbers that have been established for any veteran in NYC in need of help during the upcoming Nor’easter…
Seniors are at Risk for Fraud
Fraudsters and con artists are targeting seniors to a greater degree than ever before, and it is important for elders and those who care for them to be aware of common scams and increase their vigilance against them.
While anyone can fall victim to a thief, seniors are more at risk. Scammers target the elderly because, having grown up in a simpler era, they may be more trusting, and because some seniors may develop cognitive issues, such as Alzheimer’s disease, that prevent them from detecting an attempt at fraud.
Elder Care Planning Should Include Pet Care
As the U.S. population ages, more focus is being placed on moving individuals into elder health care residences or long-term care facilities, and there is natural concern about all of the support that is necessary for an aging community. But one thing people may not think about is what steps to take to ensure the care of an elder’s pet. It is in everyone’s best interest, including the owner, the family members and the beloved pet, if there is a succession plan in place for if and when an individual becomes too ill to care for their furry friend, or needs to move to a care facility.
Second Circuit Sets Important Precedent Upholding New York Prohibition on Aversive Interventions
The United States Court of Appeals for the Second Circuit of New York, in Bryant v. New York State Education Department upheld New York’s regulatory prohibition on the the use of “aversive interventions,” which are negative consequences or stimuli administered to children who exhibit problematic and disruptive behavior that impedes their education. The interventions can include electric shock, food limitations, and restraints in schools.
Understanding the Medicaid Transfer Penalty
The transfer penalty exists to prevent someone from entering a nursing home and attempting to meet the Medicaid eligibility requirements by transferring assets to, for instance, a close relative, for less than the true value of those assets. To prevent this, there is a “look-back” period of 60 months, when a Medicaid applicant’s transfers of assets will be examined to determine if they were for less than fair value.
Many States Fall Short in Meeting Community Living Goals
In 2007, the federal government began an initiative to help low-income seniors and persons with disabilities move back into the community from nursing homes. The multi-billion dollar program, called Money Follows the Person, awards grants to states to help them develop community-based resources for long-term care, and reduce reliance on institutional care. Although more than $1 billion was awarded during the five-year demonstration period, the states have fallen short of their goals…
NY Governor’s Bill Could Create a Justice Center to Protect People with Special Needs & Disabilities
At the close of the NYS legislative session last week, the Assembly and Senate concurred on the Governor’s bill to create the Justice Center to protect people with special needs and disabilities. This bill was introduced by Governor Cuomo in May with great fanfare. While we all applauded Governor Cuomo’s intent, the original bill did not deal with a number of complications which have now been resolved. The legislature and Governor agreed to additional amendments to strengthen the bill and make it more practical.
Alzheimer’s Affects Caregivers as well as Patients
An Alzheimer’s diagnosis is a life-changing event for the patient, and also for the person who will become the patient’s primary caregiver. Most people who have the disease, and who provide care, are women. The Working Mother Research Institute, in partnership with the Alzheimer’s Association, has conducted a survey of about 2,500 women, including 1,200 who have served as caregivers to people with Alzheimer’s, to determine how much they know about the disease, and learn more about the effect it has had on their lives.
