New Medicare cards: more protection to over 55 million Americans

New Medicare cards: more protection to over 55 million Americans

To prevent fraud and illegal use, the new Medicare cards won’t include Social Security numbers

The Centers for Medicare & Medicaid Services is preparing a fraud prevention initiative that removes Social Security numbers from Medicare cards to help prevent identity theft.

The new cards will use a unique, randomly-assigned number called a Medicare Beneficiary Identifier, to replace the Social Security-based Health Insurance Claim Number currently used on the Medicare card. The Centers for Medicare & Medicaid Services will begin mailing new cards in April 2018 and will meet the congressional deadline for replacing all Medicare cards by April 2019.

Providers and beneficiaries will both be able to use secure look-up tools that will provide access to the Medicare Beneficiary Identifier number when they need them. There will also be a 21-month transition period where providers will be able to use either the Medicare Beneficiary Identifier number or the Social Security-based Health Insurance Claim number to help ease the transition for a comprehensive plan for the removal of Social Security numbers and transition to the Medicare Beneficiary Identifier numbers.

Read full press release here

Personal identity theft affects a large and growing number of individuals, especially people age 65 or older who are increasingly the victims of this type of crime. Identity theft can take not only an emotional toll on those who experience it, but also a financial one. It can also disrupt lives, damage credit ratings and result in inaccuracies in medical records and costly false claims.

For more information about Social Security, visit the Centers for Medicare & Medicaid Services website

 

GRIMALDI & YEUNG LLP:
Phone: 718-238-6960
Brooklyn and Manhattan Offices:

9201 4th Ave, 6th Floor
Brooklyn, NY 11209

546 Fifth Avenue, 6th Floor
New York, NY 10036

This post is made available by the lawyer for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this site you understand that there is no attorney client relationship between you and the lawyer. The post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. ATTORNEY ADVERTISING.

Judith D. Grimaldi speaks at the NYSBA Elder Law and Special Needs Summer Meeting

Judith D. Grimaldi speaks at the NYSBA Elder Law and Special Needs Summer Meeting

This month, the New York State Bar Association’s Elder Law and Special Needs Section Summer Meeting invited Judith D Grimaldi to speak on:

New Developments in Elder Law: New Medicaid Eligibility Rules, Federal & State Legislative Changes, Recent Cases and Decisions of Interest, Administrative Pronouncements

               

View program

GRIMALDI & YEUNG LLP:
Phone: 718-238-6960
Brooklyn and Manhattan Offices:

9201 4th Ave, 6th Floor
Brooklyn, NY 11209

546 Fifth Avenue, 6th Floor
New York, NY 10036

This post is made available by the lawyer for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this site you understand that there is no attorney client relationship between you and the lawyer. The post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. ATTORNEY ADVERTISING.

CaringKind Alzheimer’s Walk — September 24, 2017

CaringKind Alzheimer’s Walk — September 24, 2017

Grimaldi & Yeung LLP will participate in this year’s CaringKind Alzheimer’s Walk!

Please join us on Sunday, September 24, 2017 as we gather together for a day full of remembrance, promise and hope!

WHEN:
The Walk will be held on Sunday, September 24, 2017
9:00 AM to 11:30 AM

WHERE:
Coney Island Boardwalk:
15th Street & Boardwalk, Brooklyn, NY

ABOUT THE CHARITY
On December 1, 2015, the New York City Chapter of the Alzheimer’s Association separated from the National Alzheimer’s Association, to return to their roots as a stand-alone, independent charity. The nation’s leading experts in Alzheimer’s care, education and support can still be found at 360 Lexington Avenue under the new name, CaringKind, The Heart of Alzheimer’s Caregiving.

 Plus: Team Grimaldi & Yeung will be invited to a post-walk lunch at a local Coney Island Restaurant.

If you are interested in donating and/or joining us for this cause, kindly visit Grimaldi & Yeung’s team page by clicking on the link below: https://give.caringkindnyc.org/index.cfm?fuseaction=donordrive.team&teamID=8945

Grab a Flyer

Your “Digital Diary” is an Indispensable New Tool in Your Estate Plan

Your “Digital Diary” is an Indispensable New Tool in Your Estate Plan

All of us spend increasingly more and more time on computers, smart phones and on multiple online sites where we communicate with our family, friends and work colleagues.  Perhaps you shop, pay bills, bank, manage investments, create and share information, photos, images and music, and enjoy other recreational pursuits online.  All of these communications, contacts and accounts, and even the fact that you use these sites, make up your digital life and are your “Digital Assets.” And it can be a great tool to help with your Estate Planning.
The following information comes from the book “5@55: The 5 Essential Legal Documents You Need by the Age of 55″, written by Grimaldi & Yeung Partners Judith D. Grimaldi and Joanne Seminara.

These Digital Assets may be saved blogs and photos, frequent flier credits and other items of value, such as domain names that could have monetary value.  Digital assets, such as photos, have sentimental value and historic family records may be even more important to you and your loved ones, especially in the event of sudden death.

Therefore, you need to provide a way for these assets to be catalogued, accessed, managed, protected, “given” to others and/or deleted if you die or become disabled.

Your Will and/or Trust and Power of Attorney needs to contain special language which gives your Executor and/or Trustee and the agent named in your Power of Attorney access to your Digital Assets. Without this special access language, these persons who are your agents may not have access.  That is because Digital Assets are subject to the Term of Service (TOS) Agreements the providers of these sites (i.e. Facebook, Google, American Airlines, LinkedIn, etc.) impose on all users.  Remember that box you are forced to check when you “log in” to a new site, stating that you agree to certain terms and conditions of use? These TOS agreements can restrict access to your Digital Assets by others, even if they are named as an Executor in your Will or your Power of Attorney agent. The special language provided in the documents our firm prepares for you, allows for this access by persons you have chosen and can override these site restrictions.

We have provided you with a copy of a “Digital Diary” booklet for your use as a way to provide your trusted agents with complete and updated information about the electronic sites you now use or will use in the future.  We urge to fill in and regularly update this easily amendable Digital Diary. The Diary can catalogue all of your electronic sites, listing each site’s user name and password for you and your trusted agent, Executor or Trustee. They will be able to access the information on these sites if you become disabled or die.

This Digital Diary may be accessed as a downloadable, fillable form on our website at www.gylawny.com.  We suggest that you download it, fill it in and amend it every time there is a change in your online sites or information needed to “log in” to each site.  Print, and as needed, replace a paper copy of this Digital Diary and retainer it in a safe location known to one or more of your trusted agents, and perhaps a spouse, partner, child or friend. The information in your Digital Diary should not exist solely on your computer.   If you bank on-line it is important that your agent or fiduciary know about the existence of your bank accounts or other monetary assets so that these assets may be used (as needed) to pay bills, and to avoid interest and penalties.

Please think of the Digital Diary as a starting point for creating your own unique catalogue of your electronic information.  If the Grimaldi & Yeung Digital Diary does not meet all your needs, we encourage you to tailor it by adding categories of online sites or information that may be particular to you.  For example, if a site requires you to answer security questions when you log in, you may wish to add the answers to these questions to your Digital Diary.  If you trade in Bitcoin or are involved in certain types of on-line activity for business or entertainment you may need to add more information to your Digital Diary.

We will not retain a copy of your Digital Diary in our files and you do not need to provide us with a copy of same.  We urge you to safeguard your Digital Diary as you would any other precious asset so that it does not come into the wrong hands and create a risk of fraud or identity theft.

Please Note and Consider:

  • Several on-line sites allow you to designate a person to access your account by registering that person with the provider. You can provide the on-line provider with specific directions regarding the identity of persons who are allowed to control your on-line presence. You may also be able to provide additional directions regarding the access to your account. This registration of a person for access or control will override any designation provided in your Will, Trust or Power of Attorney.
  • If you become disabled or die and an on-line account becomes dormant because its existence is unknown to your agent or fiduciary or he/she is unable to access it, this account may be vulnerable to identity theft.
  • If an Executor or agent is unaware of a bank account because he or she finds no paper record of said account, the funds in the account may be unknowingly lost and sent to New York State to be held as “unclaimed funds.”

Contact us at Grimaldi & Yeung LLP with your questions and ask for your free copy of the Digital Diary or download it now at www.gylawny.com. We look forward to hearing from you and helping you safeguard your digital life.

Additional resources provided by the authors, Judith D. Grimaldi & Joanne Seminara

GRIMALDI & YEUNG LLP:
Phone: 718-238-6960
Brooklyn and Manhattan Offices:

9201 4th Ave, 6th Floor
Brooklyn, NY 11209

546 Fifth Avenue, 6th Floor
New York, NY 10036

This post is made available by the lawyer for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this site you understand that there is no attorney client relationship between you and the lawyer. The post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. ATTORNEY ADVERTISING.

Elder Care Planning – As Your Family Member Ages – Your Family Can Plan

Elder Care Planning – As Your Family Member Ages – Your Family Can Plan

As your family member ages, health issues such as memory loss and lack of energy may emerge. Financial and debt can become more difficult. If your family member is beginning to experience a slowing down, here are some key warning signs they may now need you to begin elder care planning:

  1. Memory loss or dementia can lead to financial responsibilities being neglected. Watch for unusual spending patterns, not remembering which bills have been and have not been paid or overdraft/late fees. An inability to stay on top of routine banking is a first sign of mental slippage or possible cognitive issues. Unfortunately, scammers feed off of this pattern and may target your elderly family member, and steal from them.
  2. Start early and ask about your family member’s financial plan while they have the ability and desire to communicate effectively. Any preparations you can complete before will help, thus a good starting point is to review your family member’s financial situation, and create a plan.
  3. Designate one trusted individual to take charge of financial matters when needed. The choice should be as unanimous as possible. The goal is to ensure bills are paid on time, taxes are completed and the overall finances are up-to-date. Family transparency is crucial to make this work. The standard is always in the elder’s best interest.
  4. Ensure each asset is properly titled and has the beneficiary of your family member’s choosing, clearly designated. Suggest a meeting with a qualified attorney to make sure updates and changes have been made reflecting final wishes. A Trust may be the best comprehensive solution to holding assets.
  5. Establish automatic bill pay of routine household bills wherever possible. As memory loss persists, having automatic bill pay will ease stress and ensure debts are paid. Automatic drafts also leave a paper trail which can help you maintain order.
  6. If your family member is still financially independent, remind them often of money-related scams. Demonstrate how they can protect themselves from fraud. Give them examples and tips on how to resolve any potential risks.

Take time to talk with your parents about a plan of action regarding caregiving and financial matters. This will alleviate stress related to these issues. If you want help in getting these conversations on elder care planning started, please feel free to call Grimaldi & Yeung LLP at (718) 238-6960, and we can help begin your family member’s life plan.

The source of this article is from “Life Care Planning Today” by April Hill, Esq.

GRIMALDI & YEUNG LLP:
Phone: 718-238-6960
Brooklyn and Manhattan Offices:

9201 4th Ave, 6th Floor
Brooklyn, NY 11209

546 Fifth Avenue, 6th Floor
New York, NY 10036

This post is made available by the lawyer for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this site you understand that there is no attorney client relationship between you and the lawyer. The post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. ATTORNEY ADVERTISING.