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The Department of Veterans Affairs (VA) is reaching out to inform wartime veterans and surviving spouses of deceased wartime veterans about an under-used, special monthly pension benefit called Aid and Attendance. Although this is not a new program, not everyone is aware of his or her potential eligibility. The Aid and Attendance pension benefit may be available to wartime veterans and surviving spouses who have in-home care or who live in nursing homes or assisted living facilities. Please contact our office if you have any questions about Veterans Benefits.

VA Press Release

U.S. News and World Report's Series on Alzheimer's

In December U.S. News and World Report had a three-part series on Alzheimer's disease. The articles discuss early onset Alzheimer's, promising new medications in the drug pipeline, and the role of computers as assistive technology for Alzheimer's patients.

Stealing Minds and Memories--Alzheimer's Today (From U.S. News and World Report December 11, 2006)

There's Hope in the Drug Pipeline (From U.S. News and World Report December 11, 2006)

That's What You Call a Screen Saver (From U.S. News and World Report December 11, 2006)

U.S. Department of Health and Human Services Unveils National Clearinghouse for Long-Term Care Information Website

The U.S. Department of Health and Human Services unveiled a new Website Friday to help consumers plan for long-term care. The National Clearinghouse for Long-Term Care Information Website provides information about long-term care planning, services and financing options, along with tools to help people begin the planning process, said HHS Assistant Secretary for Aging Josefina Carbonell. The new Website, established in response to language in the 2005 Deficit Reduction Act, also supports the Own Your Future education campaign, a joint federal-state initiative designed to increase consumer awareness about planning for long-term care.

National Clearinghouse for Long-Term Care Information

How Will the New Congress Affect Key Elder Law Issues? (From Elder Law Answers.com 11/30/2006)

The Costs of Long-Term Care: Public Perceptions Versus Reality in 2006 (Roper Public Affairs and Media December 2006)

Estate Planning

New Ohio Trust Code and the Revocable Trust
By James C. Bates, Esq.

There has been much discussion about the new Ohio Trust Code that went into effect on January 1, 2007. Many clients have called to ask how this new law affects their previously drafted revocable trusts. While the Trust Code is generally an attempt to codify Ohio common law, there will be some changes to Ohio trust law and new wrinkles for trust administration. In general the Ohio Trust Code is a default statute that fills in and clarifies a trust if the document is found lacking or if provisions are unclear. However, there are some mandatory rules within the code. These include the requirements for creating a trust, the duty of the trustee to act in good faith and in accordance with the terms of the trust, the requirement that the trust have a lawful purpose, court powers with regard to trusts, and creditor rights provisions. There are also mandatory reporting requirements to beneficiaries; however, these requirements will not apply to a revocable trust until the passing of the settlor of the trust.

Among the changes to Ohio law with regard to revocable trusts is that the Ohio Trust Code presumes that a Trust is revocable unless the instrument expressly states that it is an irrevocable trust. Additionally, the Ohio Trust Code does not allow an amendment or revocation of a trust by will unless the terms of the trust specifically authorize the amendment or revocation by will. Along the same lines, a power of attorney may act on behalf of a settlor of a trust only if both the trust and power of attorney authorize this action.

Creditor rights under a revocable trust codify common law as in existence before the Ohio Trust Code was passed. A revocable trust may still be attached by creditors during the life time of the settlor, however, the Ohio Code does not speak to the rights of a creditor after the death of the settlor. It is assumed that the Schofield v. Cleveland Trust case from 1938 which holds that a creditor of a settlor of a revocable trust may not reach the trust assets after the settlor’s death is still good law in Ohio.

While the Ohio Trust Code probably will not make your current revocable trust invalid, depending on the terms of the trust may require some tinkering. It is highly suggested that all Settlors consult our office so that their revocable trust may be reviewed and they can be advised how the new laws affect their trust.

Heir Hunter Legislation

On December 22, 2006, Governor Taft signed a law which provides a procedure by which the probate court can review agreements where a beneficiary pays a percentage of their inheritance to a third party. The purpose of this statute is to regulate professional "heir hunters", who track down beneficiaries in exchange for a percentage of the inheritance

If you have any questions on the above topics, please call our office at (800) 393-2324 or use our FREE E-MAIL RESPONSE SERVICE.