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Estate Planning

HIPAA PRIVACY PROTECTIONS AND CHARLIE SHEEN

by | Last updated Feb 9, 2022 | Estate Planning, HIPAA, Press

The Health Insurance Portability and Accountability Act, which is also known as “HIPAA”, is a body of laws enacted by Congress in 1996 which are designed to uphold and protect the transmission, confidentiality and privacy of our medical records and other related healthcare information (known collectively as Protected Health Information). No one can peruse your confidential files without your explicit approval. Those found violating this federal mandate are subject to fines, jail time, or both. The maximum penalty for flagrant disregard of this legislation is one million dollars and up to 10 years in federal prison. This governmental safeguard shields every U. S. citizen—including tabloid celebrities such as Charlie Sheen. Mr. Sheen was having a dental procedure performed recently, and his healthcare records/privacy became compromised. A dental assistant who worked there told her son that Mr. Sheen was going to be at her dental office on a particular date and time—which is a flagrant violation of HIPAA’s privacy protections. Instead of facing potential financial liability and incarceration, her boss simply fired her. In retaliation, this dental assistant leveled charges against Mr. Sheen saying that he had gone mad, “pulled out a knife,” and destroyed her workplace due to a violent reaction to nitrous oxide (also known as laughing gas).   Sheen’s dentist/oral surgeon denied the allegations when questioned by the Los Angeles Police Department. In his professional opinion, the star’s reaction was a consequence of the anesthetic being mixed with prescription pain medication that Charlie was taking. In all likelihood, no charges will be filed against Mr. Sheen. This case underscores the value of HIPAA. It upholds (and has the...

BE CAREFUL ABOUT “REVERSE” MORTGAGES

by | Last updated Feb 9, 2022 | Estate Planning, Mortgage, Reverse Mortgage, Taxes

On the surface, a reverse mortgage seems like an excellent way to supplement your retirement income. By using your house as collateral, a bank will pay you (instead of you paying them) its equity (value) back to you in monthly installments. By taking into account their hidden fees and with the eventual loss of title of ownership, the following paragraphs will argue that this type or mortgage may not be such a great idea after all. The reverse mortgage originated in 1989. In that year, the Federal Housing Administration, under the direction of the U.S. Department of Housing and Urban Development, started a program called Home Equity Conversion Mortgages. As Mortgages in Canada are available to property owners over the age of 62, their relative ease in being obtained and popularity through clever advertising, made them grow at an exponential rate. Some Expert Witnesses claim that these home loans covered even the post-construction procedures, such as surveys and inspections. Under their terms, the home being mortgaged must be your primary residence. The amount of money that can be paid to you is based upon the equity of your house. If you have other mortgages in force (with using your home as collateral), the remainder of your equity will be the basis upon which the funds will be derived. Payments made you can be in one lump sum, in installments for the rest of your life, or as a credit line. Another plus is that this source of income is not subject of income tax. The duty to repay the loan is deferred until either: your die (as being the...

Estate Planning: Affordable Care Act and expanded Medi-Cal

by | Last updated Feb 26, 2020 | Advance Health Care Directive, Affordable Care Act, Estate Planning, HIPAA, Trusts, Wills

Under the Affordable Care Act (“ACA”), low income persons under age 65 may enroll in the expanded Medi-Cal in order to meet the federal requirement that everyone have health care insurance. At age 65, Medicare covers doctor visits, hospital visits and some prescription drugs. Read...