Product Description

Recent news cites the alarming increase in elder bankruptcy filings; they are filing three times more frequently now than in 1991. Many seniors are struggling with large credit card bills and monthly debt service exceeding their income. Rather than drawing down retirement assets, bankruptcy may make sense for these individuals—and can also eliminate a senior’s existing medical bills. Moreover, many elderly people who rely on social security as their sole income source, and have few assets, may be judgment-proof and need not file bankruptcy at all. But even in those cases, relief from creditor phone calls can warrant seeking reprieve. Specific concerns, issues, and challenges can arise when representing elders facing bankruptcy that must be addressed with the client in detail. Attend this power-packed hour to better anticipate your elder clients’ needs and learn how to handle the unique considerations at MCLE—not on your next case!

Agenda & Materials

• 12:00 - 12:07 pm

  To File or Not

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  Pros and Cons of elder bankruptcy; Who are “household members?”; Effect of family assistance; What factors make a difficult decision more acceptable?; M.G.L. c. 224, §16—Dismissal of proceedings (judgment proof)

  Richard A. Mestone, Esq., Mestone & Associates LLC , Danvers
  
• 12:07 - 12:14 pm

  Exemptions and Doubling Some Under Massachusetts Law

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  Detailed explanation of exemptions; Reassurances about social security retention; Keeping retirement accounts

  Richard A. Mestone, Esq., Mestone & Associates LLC , Danvers
  
• 12:14 - 12:21 pm

  Elder Emotions—Special Concerns Because They Don’t Have Decades to Recover Financially

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  Availability, or not, of credit going forward

  Richard A. Mestone, Esq., Mestone & Associates LLC , Danvers
  
• 12:21 - 12:28 pm

  Protecting Legacies—To “Trust” or Not

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  Concerns about leaving a legacy; Adding the kids to the title to the house—and making sure they are not in financial trouble

  Richard A. Mestone, Esq., Mestone & Associates LLC , Danvers
  
• 12:28 - 12:35 pm

  Well Intended Transfers Are Still Transfers—Sometimes Fraudulent

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  Concerns regarding gifts made to friends and family in anticipation of filing; Helping adult children just prior to a filing—not a good idea

  Richard A. Mestone, Esq., Mestone & Associates LLC , Danvers
  
• 12:56 - 1:00 pm

  "Ask the Experts" Q&A Session

  on demand video Add to Cart

  Richard A. Mestone, Esq., Mestone & Associates LLC , Danvers
  

Please Note

MCLE webcasts are delivered completely online, underscoring their convenience and appeal. There are no published print materials. All written materials are available electronically only. They are posted 24 hours prior to the program and can be accessed, downloaded, or printed from your computer.

Faculty