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LAW OFFICE OF RAYMOND J. CANNON, JR., P.C.
Estate Planning, Elder Law, Medicaid-Long Term Care Planning,
Asset Protection Planning, Tax Planning, Real Estate,
Probate and Estate Administration |
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Our mission is to preserve and protect your assets. | |
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THE NUMBERS
The U.S. adult population consumes an average of almost 100 calories per day from alcoholic beverages.
Men consume more calories from alcoholic beverages than women.
Younger adults consume more calories from alcoholic beverages than older adults.
Men consume more beer than other types of alcohol.
Average calories consumed from alcoholic beverages do not differ by race and ethnicity.
Percent of adults 18 years of age and over who were current regular drinkers (at least 12 drinks in the past year): 51.5%
Percent of adults 18 years of age and over who were current infrequent drinkers (1-11 drinks in the past year): 13.6%
Source: Summary Health Statistics for U.S. Adults: National Health Interview Survey, 2011, table 27[PDF - 1.3 MB]
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LAW OFFICE
OF
RAYMOND J. CANNON, JR., P.C.
Admitted
Massachusetts Bar
United States Tax Court
Federal District Court of MA
United States Supreme Court
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 3 YEAR REVIEWS We encourage you to take advantage of our free one-hour consultation to review your estate plan on your plan's third year anniversary. Please call 978-989-9999 for an appointment.
Please notify us at ray@rjcannonlaw.com
if your contact information has changed since your last visit.
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Please feel free to forward this Newsletter to your family, friends and associates who may be interested in a one-hour free consultation to discuss these topics. |
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JANE HAS AN UNWELCOME GUEST
Jane decided to marry her soul mate after all, but she did not bargain for his 50 year old drug dependent son to move in with them. He does not clean up after himself, listens to loud rap music all day, stays up all night and sometimes stays out for days at a time, returning only when he has run out of money. His behavior is bullying, manipulative and extremely narcissistic.
She called me in a panic and asked what she could do. She had not realized that her new husband was an enabler and her efforts to convince her husband to ask his son to leave have so far fallen on deaf ears. Her first few weeks of marriage were quite blissful and Jane does not want to do or say anything that would upset that situation. So what is Jane to do?
I told Jane that since she owns the house, she determines who may live there. Her husband, who has no ownership in Jane's home, may invite guests but only with Jane's permission. The son, as a guest, is a mere licensee so Jane could have him removed for any reason or no reason. There is no tenancy involved here. While it may be problematic for Jane to do this with respect to her new husband, she does have this option. She can also call the police if she suspects that there is illegal drug usage in her home.
LESSON: We all learn something we never knew about someone after we get married. If one of the parties is an enabler, the issue must be faced head on. Continuing to live with the situation will only empower the enabler and the situation will only get worse. You should consult with an attorney, social worker or psychologist when confronted with a situation like Jane's.
If you are new to the Jane Chronicles, you may read past issues by going to our website:
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Retirement in the 21st century Western world is a fairly new phenomenon. When the Social Security Administration declared 65 to be the retirement age in 1935, few people reached that milestone. Life expectancy at the turn of the 20th century averaged 50 years of age. A baby born in 2000 can expect to live an average 77 years. A 60-year-old can expect to celebrate his 80th birthday, and most likely quite a few birthdays after that. How to fund and support long lives has turned into an intense national debate.
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Are there lifetime gifts that don't count? We can each give another person $14,000 per year without it counting against the lifetime exemption. Spouses can combine this annual exclusion to double the size of the gift.
For example this year, relying on the annual exclusion, a married couple with a child who is married and has two children could make a joint cash gift of $28,000 to the adult child, the child's spouse and each grandchild - four people - providing the family with $112,000 a year. Only gifts that exceed the limit count against the lifetime exclusion which is currently $5.25 mm.
The simplest way to use the annual exclusion is to give cash or other assets each year to each of as many individuals as you want. Another possibility is to put money in Section 529 education savings plans. Establishing these plans for relatives could relieve siblings or children of the need to put money away for the college education of their children.
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YOU ARE INVITED!
SUNDAY, FEBRUARY 10, 2013 AT 2:00 PM
1820 Turnpike Street, North Andover, MA 01845
Spectrum Adult Day Health Program invites you to an afternoon with Singer-songwriter and Grammy nominee, Seth Glier. Tickets are $25 in advance or $35 at the door. All proceeds will benefit the Spectrum Adult Day Health Program which provides compassionate and specialized daytime servies for people in the Merrimack Valley with Alzheimer's disease and other memory disorders.
For tickets and more information call 978-712-1162 or go to www.spectrumdayprogram.org.
Limited space is available. |
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