Tuesday, October 25, 2005

Medicaid Reform - Contact your Congressman

From the National Academy of Elder Law Attorneys (www.naela.org)

"October 24, 2005

Dear NAELA Member:

The Chairman's 'mark' that will be considered by the Senate Finance Committee on Tuesday does not include the two punitive Medicaid proposals currently being considered by Congress: changing the Medicaid penalty period start date to the date of application and increasing the lookback period from three to five years.

Your efforts are still needed!!
� Thank your Senators on the Finance Committee for their support of the elderly and individuals with disabilities across the nation.

� Contact the Members of the House Energy and Commerce Committee and ask them to oppose these two punitive proposals. Key states with more than one member on this committee include: California, Florida, Illinois Michigan, New Jersey, New York, Ohio, Pennsylvania, Tennessee and Texas.

To call Members of Congress dial the Senior Flash Hotline at 1-800-998-0180 to communicate our concern and to urge them to oppose cuts to the Medicaid budget and to oppose changes to the nursing home transfer of assets rules.

To write your Representative or Senator, click here http://www.naela.org/private/PDFs/Please%20tell%20congress.doc

Since Congress is in session, fax or e-mail your letters to their Capitol Hill offices as soon as possible. Encourage your clients to call too!

Thank you for helping NAELA with this critical issue.


Lawrence E. Davidow, CELA
NAELA President"

Tuesday, October 04, 2005

Qualified Retirement Plans for Solo Business Owners - The Solo Defined-Benefit Plan

Category: Business Law and Planning, Financial Planning

From Smartmoney.com: Tax Matters: The Solo Defined-Benefit Plan: "If you're the sole proprietor of a small business, you probably know that you've got some terrific options to choose from when it comes to setting up a tax-advantaged retirement account. But here's one you might not have thought of: a solo defined-benefit plan. These traditional pension plans have been around for years, but get relatively little attention compared with other retirement-savings plans. This shouldn't be the case, however, since solo DB plans allow people to contribute perhaps $100,000 a year.

The generous contribution limits make these plans worth serious consideration by people who are late to the retirement savings game and who are prepared to set aside serious dollars to make up for lost time. Sound familiar? Here's what you need to know. "

The article goes on to describe various retirement planning options for small business owners.