ABLE Act accounts will help the disabled
Some disabled individuals may now obtain tax-advantaged accounts, similar to 529 college savings accounts, to pay for expenses related to disability. These accounts result from the Achieving a Better Life Experience (ABLE) Act passed by Congress in 2014. Allowable...
Marriage versus cohabitation for elderly couples
Clients who have found love in their senior years (after death of a loved one or divorce) often ask whether it is better to marry or simply live together (cohabitate). The question can raise complex issues in the answer will vary according to the couple’s individual...
Long term care insurance: What if you don’t qualify?
Long term care insurance can be a great planning tool to reduce the impact of care costs in your retirement years, and to receive care in your home rather than in a facility. But not everyone qualifies. Long term care insurance requires underwriting – a process by...
Will the bank honor your power of attorney?
A recent article in the New York Times reported on the resistance of banks (and other financial institutions) to honor requests by someone holding power of attorney for an incapacitated person. In one case, the son of a woman with Alzheimer’s disease could not access...
Who can contest a will?
Who can file a will contest under Pennsylvania law? Quick answer: only someone who would benefit financially from having the will declared invalid. Suppose John Doe signs his first and only Last Will and Testament on his death bed. It was written by his youngest...About Andrew Sykes
The founder of Sykes Elder Law, Andrew Sykes is recognized as a leading elder law authority in Western Pennsylvania. Mr. Sykes is the past chair of the Elder Law Committee of the Allegheny County Bar Association.