Vol 216: IN THIS ISSUE
 
Do You Have a Child in College?


New in NH Law...


Summer Reading


Estate Planning Reflections on Freedom
 

 
Quick Links!
 
F.A.Q. About Elder Law


Useful Family Resources


Meet the Attorneys


 
 

 
Have You Wondered?
 
Have you sometimes wondered about how well-prepared you are for the future?

Many people have told us that their familiarity with estate planning and probate is limited; many more say their wills are not up to date and few are aware of the extent to which an elder law firm can simplify these processes.

Our website offers simple answers to these and similar questions.

Or, please feel free to contact us if we can be of help in any way.
 

 
 


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  Estate Planning & Elder Law Check-up
 


Do You Have a Child in College?

We know that the summer is a great time to spend at the beach, but did you know that it is also a great time for your college kids to execute powers of attorney while they are home.

Many parents are surprised to learn that when their children attain the age of 18, they can no longer gain access to their children’s health care information, or schedule doctor’s appointments on their behalf. In NH, an 18 year old is considered to be an adult and for that reason, in order to act on behalf of your now adult child, either medically or financially, your child needs to execute a financial power of attorney and health care power of attorney.

Please feel free to contact our office if you have any questions regarding this, or if you would like to schedule an appointment.
 


New in New Hampshire Law...

There are two new things you should know about State of NH law:

  • Homestead exemption increased from $100,000.00 to $120,000.00 for each homeowner. (RSA 480:1).

    What does the homestead exemption mean in New Hampshire?

    In New Hampshire, the homestead exemption amount is exempt from attachment and from liability, and for this reason, it can provide you with protection in the event of a bankruptcy or a lawsuit. However, the homestead exemption does not apply to the collection of taxes, mortgages, liens of mechanics, or to unpaid assessments to homeowner or condo associations.

    It should also be noted that each state has its own laws relating to homestead. For example, in Florida, if you have a “homestead,” you receive a reduction in your property taxes. This is not true in New Hampshire. However, unlike Massachusetts, in New Hampshire, the homestead exemption is automatic and no filing is necessary.
     

  • Real estate transfer taxes are no longer imposed for transfers into or out of revocable trusts where the ownership interests of the transferor and transferee are identical. RSA 78-B:2 (XXII).

    Apparently, however, the NH Department of Revenue Administration and the county registries have not been updated regarding this change. We will keep you informed and are hopeful that all applicable parties will soon be on the same page.

 


Summer Reading

I recently read On Pluto: Inside the Mind of Alzheimer’s by Greg O’Brien and recommend the reading of this book to anyone who knows someone who is facing Alzheimer’s or any other cognitive disease.

The author, an investigative reporter, was diagnosed with early onset Alzheimer’s and speaks personally about living with the disease on a day-to-day basis. Although some of the legal aspects stated in the book seemed to be a bit inaccurate, I found that the author’s frank and insightful observations into what it is like to experience early onset Alzheimer’s to be invaluable to caretakers as well as to the medical profession.

While this book isn’t a “light” summer read, the narrative is very informal and can definitely be read on the beach.

 

  Reflections on Freedom from an Estate Planning Perspective

As we approach the 4th of July and are thinking about the celebration of the Declaration of Independence, we would also like to reflect briefly on freedom from an estate planning perspective.

  • Freedom to choose who you want to act on your behalf when you no longer can, instead of the Court deciding who this person(s) will be.
  • Freedom to allocate assets to whomever you want, instead of the State of New Hampshire deciding for you.
  • Freedom to minimize taxes, instead of burdening beneficiaries who then face adverse tax implications.
  • Freedom to protect loved ones and to make their lives easier and less costly in the event of a disability or of a death, rather than having them involved with the Court and other bureaucracies.

Be proactive and celebrate the freedom to plan for yourself and for those dearest to you. Wishing you a happy and safe 4th of July and a wonderful summer!


Curtin Law Office - 40 Bay Street - Manchester, NH - 603.669.7700
www.curtinlawoffice.com