Tag Archives: Elder law

Anthony B. Ferraro has been elected president of the Illinois Chapter of the National Academy of Elder Law Attorneys. Ferraro is the founder and managing member at the Law Offices of Anthony B. Ferraro. He received his bachelor of commerce in accountancy from DePaul University and his master of science in taxation. After receiving his CPA designation in 1978, he enrolled in law school, earning his juris doctor in 1983 from De Paul University. A VA accredited attorney, Ferraro is a past president of the Justinian Society of Lawyers and a past member of the AARP panel of participating attorneys. He is …

As we make our way into the New Year, I would like to apprise you of three new items that took effect on Jan. 1, 2015: New Illinois Power of Attorney for Healthcare – Effective Jan. 1, the state has a new statutory short-form power of attorney for healthcare. Without further changes, this will be the new statutory power of attorney healthcare professionals will use and find recognizable. It therefore may be advisable to have the new power of attorney created for you to replace an old one. Small Estate Affidavit — Effective Jan. 1, the small estate affidavit has …

Aside from the emotional difficulties that arise when a loved one goes into some sort of care arrangement, there are often legal and financial ramifications. Remember, however, that any care arrangement is a contract and all contracts are negotiable. Every good negotiation starts with good questions. Here’s a starter list: Have you toured the facility during off hours? Has legal counsel reviewed the contract before you signed it? What services are being excluded in the contract? What provisions in the contract deal with behavior altering medications? Does the contract limit your civil right to engage in Medicaid asset protection planning …

As Baby Boomers move into their senior years, and families prepare for the road ahead, there’s too often a tragic disconnect between the planning they do and the planning they need. As an attorney who specializes in elder law, and a CPA with a master’s degree in taxation, Anthony B. Ferraro of Rosemont says that the best of intentions don’t necessarily add up to the most sound of strategies. “We deal not only with what happens when you pass away, but what happens when you don’t,” says Ferraro, who has spent nearly four decades helping his clients prepare for all …

There are three phases of planning for your retirement, and each requires different tools. Estate Planning and Long Term Care Planning are ongoing processes that should begin early in a person’s life. Your estate planning documents should adapt in the face of challenges that arise through aging, changes in your financial situation, or changes within your family. As estate planning attorneys, we see three major phases in the estate plan process: the maturing years, the senior years, and the post-death years. Each of these phases has a different focus, and, therefore, requires different documents. In this article, we will guide …

In 2014, it is expected that Gov. Quinn will sign into law three new bills affecting seniors: First, there will be a revised power of attorney for healthcare document. This new power of attorney form is quite controversial. While it appears to be shorter than the original power of attorney, it lacks some of the options for end-of-life decisions that are in the current version. There are those that feel the new power of attorney is an improvement and others that feel it is not. Perhaps time will tell. Second, there will be new legislation addressing abuses in the caregiver …