An updated plan could have made adjustments for the growing size of her wealth, the inheritance tax problem, and the issue of giving wealth to a daughter who may not be ready for such a gift.  We use lifetime trusts in our firm with a Special Needs Trust included in case our beneficiary is disabled, addicted to drugs, alcohol, or gambling.  For more, click on this link:  http://www.elderlawanswers.com/resources/article.asp?id=9770&Section=4&state==

Others companies have taken a diffrent route in meeting higher than expected claims being made under the policies: raise rates.  Of course, they have to ask the insurance commission in the various states for permission to raise rates, but they are getting big increases approved.  The Sun-Times reported on a 65 and 69 year old couple getting a 90% rate increase. many have seen increase from 20 - 50%.  For more on this topic, see: http://www.elderlawanswers.com/resources/article.asp?id=9783&section=4.

If you cannot afford long trem care insurance (a product we think most should consider), see us here at the Elder Law Resource Center.  We have answers to the question, "How do I pay for long term care without going broke?"

The IRS has challenged many FLPs where they were formed incorrcetly, or where they were operated improperly (like using FLP assets to pay for personal, non-business expenses).  Happliy for the taxpayers, the IRS has lost many of these challenges.  Trusts & Estates Magazine highlights a recent case that illustrates why the IRS loses and the taxpayer wins.  Click on http://trustsandestates.com/wealth_watch/solid_as_stone/?NL=TE-02&Issue=TE-02_20120328_TE-02_994&YM_RID=rudnitsky@rudnitskyhackman.com&YM_MID=1301131

A colleage in Virginia, Evan Farr, has a blog about this.  Read that by cicking this link: http://blog.virginiaelderlaw.com/

For more information on this, click here: http://www.linkedin.com/news?viewArticle=&articleID=834938148&gid=106805&type=member&item=74991563&articleURL=http%3A%2F%2Fwww%2Eforbes%2Ecom%2Fsites%2Fdeborahljacobs%2F2011%2F10%2F11%2Fsteve-jobs-estate-not-likely-to-owe-tax%2F%3Futm_source%3Dtwitterfeed%26utm_medium%3Dtwitter&urlhash=OSqG&goback=%2Egde_106805_member_74991563

Digital delay comes when your executor or trustee cannot access your bank account, investment account and the like because she can't locate your passwords.  Do you keep them written down where they will be found?  We have suggested to our clients that they write them down and put them in a sealed envelope kept with their estate planning documents.  We recently came upon a very good article on this published for the ABA.  Click here to read it: http://apps.americanbar.org/lpm/lpt/articles/ftr03103.shtml