Source: http://www.oasttaylor.com/category/resources/oast-taylor-articles/
Timestamp: 2019-04-18 14:21:41+00:00

Document:
by Katherine A. Taylor, Esq.
You have undoubtedly heard about the new Affordable Care Act (ACA) and the Health Insurance Marketplace that opened on October 1, 2013. But many of us are still trying to understand the new health insurance options available through the Marketplace, and, more importantly, how the ACA will affect us and our loved ones. Whether you are exploring your health insurance options as an individual or for your small business, the following information will help get you started.
If you have job-based health insurance you like, then you will be able to keep your current plan, so long as the plan meets certain requirements imposed by the ACA. If your employer does not provide health insurance, then you may need to obtain insurance through the Marketplace or from other sources, such as private health insurance plans, TriCare, Medicare, Medicaid, or the United States Department of Veterans Affairs. If you don’t have coverage in 2014, then you may have to pay a financial penalty in the form of a tax.
Virginia is using the Federal Marketplace, available at HealthCare.gov. In the Marketplace, you may compare your options and enroll in coverage.
It is important to note that if you have Medicare, then you’re already covered and don’t need to make any changes.
The Marketplace offers new coverage options and, in many cases, savings on premium costs not only for individuals, but for small employers as well. The Small Business Health Options Program—SHOP—gives small employers a choice of quality, brand name insurance plans. In addition, it gives employers the ability to compare plans side-by-side so that they can choose and enroll in the one that works best for their budget, their business, and their employees.
There is no requirement under the new health care law for employers with fewer than 50 employees to offer health insurance, nor is there any penalty for those small employers who do not offer employee health insurance. Instead, the law offers small employers a range of new options, tools, and protections, and for many, tax credits to help those who would like to or already offer employee health coverage. These new options, tools, and protections address many of the obstacles that have traditionally made it difficult for these employers to offer employee health benefits. Small employers have historically had to contend with few choices, high administrative costs, and premiums that skyrocket when an employee has a pre-existing health condition, or gets sick or injured.
Starting in 2014, insurance companies can no longer sell coverage that charges higher rates or limits benefits to individuals based on a pre-existing health condition or the individual’s health status. For small employers, this means that insurers can’t sell coverage to the business that comes with higher premiums just because an employee has a pre-existing condition, or because an employee gets sick or injured.
Small employers who buy insurance through the SHOP Marketplace may also qualify for a tax credit worth up to 50 percent of the employer’s premium costs (up to 35 percent for tax-exempt employers). More information on the SHOP Marketplace is available at HealthCare.gov.
Virginia traditionally recognizes two ways in which a will may be validly executed. First, a will may be in writing and signed by the testator and at least two competent, present witnesses. Second, a will may also be valid if it is holographic. For a holographic will to be valid in Virginia, it must be entirely written and signed by the testator in the testator’s own handwriting.
Prior to 2007, Virginia required these strict formalities for executing a document in order for it to be considered a valid will. In 1990, the Joint Editorial Board for the Uniform Probate Code (UPC) proposed revisions to the UPC by adding UPC § 2-503, commonly known as the “dispensing with formalities provision.” This section allows courts to treat a document or writing not in strict compliance with the execution of a will under UPC § 2-502 as if it had been executed in compliance with UPC § 2-502, if it can be shown that the document or writing is a genuine expression of testamentary intent of the decedent. To prove that the document or writing is genuine it must be established by clear and convincing evidence that the decedent intended the writing to be a will, a revocation of a will, an alteration to a will, or a revival of a formerly revoked will.
In 2007, the Virginia General Assembly adopted the UPC’s dispensing with formalities provision by passing Virginia Code § 64.2-404. This section mirrors the UPC’s position, and provides Virginia courts with the power to treat documents and writings that are not in strict compliance of Virginia Code § 64.2-403 to be treated as validly executed, if, within one year of the testator’s death, it is established by clear and convincing evidence that the author intended the document or writing to constitute the author’s will, a revocation of a will, an alteration to a will, or a revival of a formerly revoked will. The document must also be signed by the author.
Oast & Taylor attorneys have used the dispensing with formalities provision of the Virginia Code to successfully probate several documents, thus permitting the intentions of the testators to be followed as though their wills had been properly executed.
In one case, a woman who wanted to leave her estate to her long-time boyfriend used a form that she obtained from a co-worker to accomplish this goal. She discussed her desire with members of her family, and after signing the document, she placed it in an envelope and gave it to her family. After the woman’s death, the envelope was opened and it was discovered that the document she had typed and signed was not properly witnessed. Initially, the family was not allowed to probate the will because it did not meet the statutory formalities required by Virginia law. As her family knew that it was the woman’s intention to leave her estate to her boyfriend, The Oast & Taylor attorney filed a petition in the circuit court on his behalf. The court found by clear and convincing evidence that the woman had intended the document to be her will, allowed it to be admitted to probate, and honored her intentions to leave her estate to her boyfriend.
In another case, a married couple executed professionally drawn wills in compliance with the Virginia Code. Each spouse had children from previous marriages and both of their wills directed that upon the death of the second spouse, all property be split equally among their seven children. After the husband’s death, the wife revoked her prior will and executed a new professionally drawn will in compliance with Virginia Code § 64.2-403 that devised her entire estate to her three children. After signing her new will, the widow typed a document that she later signed, bequeathing specific personal property and directing that her real property be sold and divided among the seven children. The typed document could not be admitted to probate because it lacked two witnesses and therefore was not in compliance with the Virginia Code § 64.2-403. The Oast & Taylor attorney filed a complaint in the circuit court on behalf of the deceased husband’s four children asking the court to treat the document as if it had been executed in compliance with the Virginia Code. The court found by clear and convincing evidence that the testator had intended the document to be a partial revocation of and an alteration to her last will and testament and allowed the document to be admitted to probate.
While the better solution is to talk to one of Oast & Taylor’s estate planning attorneys to ensure that your wishes are properly documented and in compliance with all Virginia law, these examples demonstrate that Virginia Code § 64.2-404 can provide opportunities to comply with a testator’s intention, even if the last will and testament does not strictly comply with formalities.
Are You Prepared for Hurricane Season?
Update the names and telephone numbers of your physicians, emergency contacts, pharmacy, and medical supply providers.
Prepare a list of prescription medications and dosages (Don’t forget to have enough on hand in case you can’t get to a pharmacy for a refill.), your allergies, and any other supplies that you use.
Have extra batteries on hand for hearing aids, wheelchairs, or other medical devices.
Locate and make copies of your health insurance, Medicaid, and Medicare cards.
Review your Advance Medical Directive and other important legal documents to see if any revisions or updates need to be made.
Keep copies of all of the above documents in your emergency kit.
Similar registries exist across the country, and Oast & Taylor encourages you to investigate the options available to you in your community.
Dorm fridge? Check. Shower kit? Check. Laundry bag? Check. Advance Medical Directive? Hmmm.
If you are the parent whose child is preparing to go away to attend college this fall for the first time, you are probably enjoying your last summer with your child while also preparing for this child’s departure. In between shopping for the dorm essentials and making sure your child is registered for classes, now is also the time to think about what legal implications this transition may involve.
You may not believe it and they may not always act like it, but at 18, children become adults in the eyes of the law. This means that you are no longer able to make any decision for the person you fed, clothed, and housed for all of those years. This also means that even though you may be making the tuition payments, you are unable to obtain your child’s grades or get information about your child from the administrative office at the college or university, unless the child first gives permission. Worse yet, if your child becomes ill and is unable to make medical decisions, the child’s physician is unable to disclose your child’s medical condition to you and you are unable to assist in the treatment decision making process.
The solution to these problems is to have a lawyer prepare a power of attorney and advance medical directive for your adult child. Through these documents, your child can designate you as his or her substitute decision maker for both financial and medical decisions. It is also important that your child sign a waiver of his or her Health Insurance Portability and Accountability Act (“HIPAA”) privacy rights so that you can discuss your child’s medical situation with the treating physician. Lastly, so long as these documents are being prepared, it may be worthwhile for your child to also sign a simple last will and testament.
Many people have the mistaken belief that estate planning is only for “older” people. The reality is that individuals of all ages and stages of life need to ensure that they have at least the basic estate planning documents in place. One hopes that there will never be a need to use a child’s power of attorney or advance medical directive, but if that situation occurs, then you will certainly be glad that these documents are in place. For more information, check out the Estate Planning section of Oast & Taylor’s website or contact Oast & Taylor to schedule an appointment to speak with one of our attorneys.
Are Your Beneficiary Designations up to Date?
Having recently married Sarah, Rob recognized it was a good time to get their estate plan in place. Rob remembered seeing a lawyer’s office on the way to work, so one day over their lunch breaks, Rob and Sarah stopped by to talk with the lawyer to discuss the preparation of their wills. They explained to the lawyer that if something happened to one of them, they wanted to leave everything to each other. After the wills had been executed, they tucked the documents into their filing cabinet knowing that their affairs were now in order, and that they could rest easily.
Unfortunately, several months later Rob was involved in a tragic accident in which he lost his life. As his executor, Sarah began the process of administering Rob’s estate. She knew about the 401(k) plan that Rob had begun contributing to several years ago when he started his career, before they even knew each other. Rob had contributed the maximum amount possible, and his company provided generous matching contributions, and the account had grown to a sizeable sum. Sarah remembered the conversation during the car ride home from signing their wills, when Rob told her that he was happy to know that she would receive his 401(k) plan if something were to happen to him.
Sarah called the custodian of the 401(k) plan and was told that she was not entitled to the account. Sarah was shocked and wondered how this could be. She explained to the company about Rob’s will and its provisions. That’s when Sarah learned an important lesson: Even though Rob’s will said that his estate was to pass to his wife, the plan is a private contract between the custodian and the account holder. As such, the terms of Rob’s will did not control the distribution of the 401k plan assets and instead the company had to follow the beneficiary designation that Rob completed years ago in which Rob named his now-estranged father as his beneficiary.
As Sarah continued to check into Rob’s assets, she continued to find the same result. The life insurance policy that Rob’s company provided also named Rob’s father as the beneficiary. Rob and Sarah had not combined their assets, so Rob’s bank account that he established years ago as a joint account with his father also passed outside of his will. In the end, Sarah inherited much less from her late husband than she expected.
The lesson to be learned? Your will, while an extremely important document to have in place, only controls assets that are titled solely in your name and which are not controlled by a transferrable on death or payable on death designation. You may think that you have taken care of your loved ones by including them in your will, but as Sarah found out, that may not be the case.
The second lesson to be learned? The importance of hiring an experienced and knowledgeable estate planning attorney who can help you not only prepare estate planning documents, but also review your finances to make sure that a comprehensive estate plan is in place. At Oast & Taylor, when one of our attorneys meets with a new client, we ask the client to complete a financial questionnaire and to bring copies of account statements, deeds, etc., to the initial consultation. While this might seem overwhelming or intrusive to some, the purpose of these requests is to ensure that the lawyer has addressed all aspects of the estate plan, including the proper titling of accounts, beneficiary designations, and in many cases, helping our clients to get better control over their assets and simplifying their lives.
For those who have family members or loved ones suffering from some form of dementia, one significant challenge that they face is trying to understand just what the person with dementia is going through. For those who care for these individuals, this challenge becomes even more prevalent as the caretakers attempt to provide the best care possible.
The Virtual Dementia Tour is a system that was developed by geriatric specialist P.K. Beville to offer hope to caregivers by providing tips and the tools necessary to create an environment that supports dementia education and lessens confusion. The idea of the Virtual Dementia Tour is that the only way to effectively create a positive environment for those with dementia is from walking in their shoes, literally.
The Virtual Dementia Tour attempts to put caregivers in the world of their patients so they can better understand it. The caregivers experiencing the tour wear special goggles that simulate the macular degeneration from which many patients suffer. The caregivers wear gloves designed to mimic the effects of arthritis. Plastic spikes are placed in the caregivers’ shoes to create the “pins and needles” and neuropathy that affect many patients. Lastly, the caregivers wear headphones playing a mixture of a static-filed radio, garbled speaking, and other jarring sounds. Once suiting up, the caregivers are sent into a small room or apartment that is dimly lit and given a list of tasks that they must complete. These tasks can include sorting and folding a pile of laundry, finding a specific page in a book, setting a table, writing a note and putting it in an envelope, and pouring and drinking a glass of water. All of these tasks are to be completed in a set amount of time, at the end of which there is a debriefing session where the caregivers can review their performance and discuss the feelings that they experienced. As one can imagine, in this environment, even the simplest of tasks becomes difficult.
The Virtual Dementia Tour is available to caregivers, assisted living facilities, nursing homes, memory care units, families of loved ones suffering with dementia, or anyone who has an interest in learning more about the experience of people suffering from this disease. It is a powerful experience that sometimes leaves the participant in a state of anxiety or depression. Hopefully though, after taking the tour, the participants are better prepared both to identify with and to understand their loved ones’ behaviors and needs.
To learn more about the Virtual Dementia Tour or to inquire about setting up an experience for yourself, visit the website of the Second Wind Dreams at www.secondwind.org. Founded in 1997, Second Wind Dreams is a non-profit organization that focuses on granting dreams for elders in the United States. Its mission is to enhance the quality of life for those living in elder care communities and to change the perception of aging, through the fulfillment of dreams and educational programs.
The holiday season is upon us. For many, this means it is time to begin planning for Thanksgiving dinner, or to find that perfect gift for a friend or family member. It also means that a special opportunity that Congress has given U.S. citizens is about to come to an end.
The opportunity that I am talking about is the upcoming expiration of the current $5.12 million estate and gift tax applicable exclusion amount. Before telling you more about the importance of the opportunity, I’ll provide some background. In December of 2010, the 2010 Tax Relief Act was enacted. The law is a two year patch that set the 2011 unified estate and gift tax applicable exclusion amount at $5 million per person (with annual inflation adjustments to the current amount) and the top tax rate of 35%. If Congress does not act, the current law will expire on December 31, 2012, and the exemption amount will drop to $1 million with a top tax rate of 55%. This means that if you die in 2012, so long as you have not given away or die with more than $5.12 million in assets, then you will incur no estate tax. If you have the good fortune of surviving the year, then your reward may be that this amount plummets to $1 million, and your estate may have to pay Uncle Sam up to 55 cents of every dollar above this amount.
So what does this mean? If you think that you have a taxable estate, then this may be a one time opportunity to reduce the size of your estate and not incur taxes for doing so. If you have not used any of this exclusion amount, then you can give away up to $5.12 million before the end of the year and pay no gift tax (a married couple can give away up to $10.24 million). Also, any gifts made in excess of these amounts are subject to a relatively low gift tax rate of 35%, instead of 55% that takes effect in January. Making significant gifts in 2012 is an attractive way to reduce your transfer taxes that you would otherwise almost certainly pay in the form of an estate tax later on.
You may be thinking to yourself that you have nothing to worry about, and that even if the current law expires, you still won’t have any concerns. After all, $1 million is a lot of money. If so, I caution you to take inventory of your assets and recognize that while $1 million may seem like a lot of money, once you add the value of your home, life insurance policies, retirement and investment accounts, and other assets, one’s estate can easily eclipse this amount. Your current estate plan may not take this reduced level into account, and therefore your estate may suddenly be subject to estate tax liability should you pass away in 2013. It is important to note that prior to the 2010 Act, the estate tax exemption amount was $675,000 in 2001, and slowly increased to $3.5 million in 2009, so many estate plans prepared prior to the most recent change in law may no longer be applicable.
True skeptics may be thinking that this will never happen, that Congress will surely act so that this scenario does not occur. Of course, who would have thought that Congress would not have acted at the end of 2009 when the prior law called for a total repeal of the estate tax beginning in 2010? Nobody did, only that’s just what happened, resulting in there being no estate tax in 2010.
Regardless of the size of your estate, it is important that you consult with an experienced estate planning attorney now to find out what opportunities may exist for you during these last two months of the year, and what adjustments you may need to make to your estate plan to account for the changes that may occur in 2013.
Contact Oast & Taylor to schedule an appointment with one of our experienced estate planning attorneys to review your existing plan or to establish an estate plan for you.
Oast & Taylor is proud to support National Disability Employment Awareness Month (NDEAM). Held each October, NDEAM aims to educate about disability employment issues and celebrate the many and varied contributions of America’s workers with disabilities. This year’s theme is “A Strong Workforce is an Inclusive Workforce: What Can YOU Do?” Research has shown that disabled workers easily match the productivity of able-bodied workers when appropriate accommodations are made available. To help celebrate NDEAM, this edition of the Oast & Taylor News highlights one of Hampton Roads’s own providers of employment for disabled individuals – Eggleston Services.
For over 50 years, Eggleston Services has been dedicated to educating, training, and employing individuals with disabilities. Its goal is to help people obtain meaningful work opportunities and participate fully in their communities. Eggleston Services helps individuals gain independence, confidence, and increased feelings of self-worth through on-the-job training and stable, rewarding work opportunities.
If you have a loved one with disabilities that would benefit from Eggleston Services, or if you would like to volunteer, discuss your business’s open employment opportunities, or just to learn more about Eggleston Services, then visit its website at www.egglestonservices.org or call 757-858-8011.
To learn more about how to participate in National Disability Employment Awareness Month and ways you can promote its messages, during October and throughout the year, visit the website of the Office of Disability Employment Policy at www.dol.gov/odep.
September is World Alzheimer’s Month. With that in mind, this edition of the Oast & Taylor News focuses on an issue important to the caregivers of those with Alzheimer’s disease and dementia, the erratic behaviors sometimes exhibited by these individuals.
What was the behavior? Was it harmful to the individual or to others?
What happened immediately before the behavior occurred? Did something trigger it?
What happened immediately after the behavior occurred? How did you react?
Could something be causing the person to experience pain?
Consult with the person’s physician to identify any causes related to medications or illness.
What are the needs of the person and are these needs being met?
Can the person be comforted by an adaptation of the person’s surroundings?
How can you change your reaction or approach to the behavior? Are you responding in a calm and supportive way?
Did your new response help?
Do you need to explore other potential causes and solutions? If so, what can you do differently?
If you are dealing with someone who begins showing signs of erratic behavior, it is important to remain flexible, patient, and calm. Respond to the emotion, not to the behavior, and look for reasons behind the behavior. It is also important not to take the behavior personally. Lastly, it sometimes helps to share your experiences with others in similar situations, so seek out support groups that allow you to talk to other caregivers.
For more information about Alzheimer’s disease and dementia and for caring for others suffering from them, visit the Alzheimer’s Association website (www.alz.org) that contains multitudes of helpful information and guides. Also, Oast & Taylor provides life care planning services and has a social worker on staff to work together to promote and maintain the health, safety, and well-being of your parent or loved one suffering from Alzheimer’s disease or dementia. We can help you develop a comprehensive plan for addressing future concerns and goals.
September 21, 2012, is Alzheimer’s Action Day. Wear purple on September 21st to help raise awareness of Alzheimer’s disease.
Oast & Taylor invites you to attend a special screening of “You Are Here” at University Theater, Old Dominion University at 6:00 p.m. on September 27th. The 78-minute movie is a drama depicting one woman’s journey with early onset Alzheimer’s. This event is made possible through the generous support of: Seniorcorp, Visiting Physicians Association, Sentara, The Memory Center, The Pavilion at Williamsburg Place, TowneBank, and the Alzheimer’s Association. For more information or to make a reservation, visit Oast & Taylor’s website, or phone or email Oast & Taylor’s social worker, Kim Johnke (Tel: 757-452-6200; Johnke@OastTaylor.com).
Oast & Taylor is sponsoring a team to walk in the South Hampton Roads Walk to End Alzheimer’s. This event takes place on October 14, 2012, at Neptune Park at the Virginia Beach oceanfront. The Oast & Taylor team is raising money with the hope that together, we can advance research to treat and prevent Alzheimer’s disease, and provides programs to improve the lives of millions of affected Americans. If you would like make to a donation to the Oast & Taylor team, then please visit our team site.
Pro. Active. Actively growing and changing is exciting.
One of the key components of practicing in the specialty of Elder Law is the knowledge that flexibility is essential. Just as your legal needs change over time, it is our duty as your legal team to meet these needs with that same flexibility. That’s why I’m pleased to announce the formation of Oast & Taylor. With new locations in Virginia Beach, Olde Towne Portsmouth, and Elizabeth City, Oast & Taylor is prepared to meet the Elder Law needs of our clients. Reaching even further into the community we can offer a new vitality to practicing Elder Law and are poised to offer services and counsel at exciting new levels.
We all know that as we age, our roles are ever changing. We may go from being provider to caretaker, or may meet the challenge of needing emergency legal care due to illness or injury. The opening of Oast & Taylor is an exciting time for me, personally and professionally, and all of us at Oast & Taylor are more determined than ever to provide exceptional service to our clients. Our advanced team of legal professionals collectively offer you more than 60 years of experience providing the finest legal counsel for achieving and maintaining financial independence and peace of mind.
Our new locations in Virginia Beach, Olde Towne Portsmouth, and Elizabeth City extend our reach into the community and will allow us to help even more folks in southeastern Virginia and northeastern North Carolina. As a vital force in Elder Law, we will continue to uphold our commitment to being leaders in estate planning, estate and trust administration, and specialty services for seniors, persons with disabilities and their families and caregivers.
So, whether you are currently a valued client or are looking for some guidance on a legal or financial matter, we hope you’ll take the opportunity to give us a call and come by for a visit to check out our new offices in Virginia Beach, Portsmouth, and Elizabeth City. We’ll be happy to give you a tour or help you with anything else you may need.

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