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Posted in: Elder & Disability Planning Articles

Resources to Evaluate and Challenge Nursing Homes

When it’s time to find a nursing home for yourself or a loved one, how you start?  A good first step is Medicare’s website, www.medicare.gov.  On its homepage you will find a tab labeled “Find a Nursing Home.” Following that link will take you to the Nursing Home Compare page. That page will help you evaluate nursing homes in your area. It features ratings of nursing homes in every state based on federal inspection and data collection.

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Important Conversations–Who Will Manage Your Affairs if You Become Disabled

Important Conversations–Who Will Manage Your Affairs if You Become Disabled

A power of attorney allows you (the principal) to appoint another (your agent) to handle your legal and financial affairs, if necessary.Deciding what authority to give to your agent is very important. To understand your options you should speak with an attorney. Equally important is the person you choose as your agent.  Many people automatically choose close family members for this job. But you and your potential agent should be aware of the legal duties your agent will be accepting. The law in Pennsylvania sets out a number of legal duties of an agent. Some are mandatory and some are optional.

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Legal Duties of an Agent Appointed in a Power of Attorney

Legal Duties of an Agent Appointed in a Power of Attorney

There are both mandatory and optional legal duties of an agent under a financial power of attorney. The optional duties can be waived by the principal in the power of attorney. Before waiving any legal duties of the agent, the principal should consult with an attorney and consider the possible consequences.

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Posted in: Business Law Articles

Business Succession Planning is Important.

In addition to estate planning, business owners must make arrangements for succession planning if they want to protect heirs and employees. Creating a business succession plan allows for the orderly and lawful transfer of control of your business, avoids disrupting business operations and negatively impacting the business’s value.

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Posted in: Contract Law Articles

The Basics of a Contract

A contract must have three essential parts: an offer, an acceptance and consideraton. The offer has two parts: a promise to do something and a statement of what the person making the promise wants in return.  The acceptance occurs when the party to whom the offer was made agrees to give the other person what she asked for in return. The consideration is what each party gets and gives.

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Posted in: Contract Law Articles

Negotiating:  Make a Good Deal by Knowing Your B.A.D.

Summary:  If you are in the market for expensive products or services offered by multiple sellers, use this effective strategy: research what you need and want, who offers it and each seller’s reputation; write out your specifications and establish the rules for how the sellers are to give you their best price. This will give you your best alternative deals (B.A.D.).

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How Does the Consumer Financial Protection Bureau Help People?

Posted in: Consumer Protection Law Articles

How Does the Consumer Financial Protection Bureau Help People?

People have the right to be treated fairly and honestly by lenders. Borrowing terms should be easy to understand. When borrowers have a question or concern, lenders should respond to them in a reasonable time and try to resolve issues.  When lenders don’t follow these simple rules who can we turn to? Congress enacting The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) in 2010.  Part of Dodd-Frank created the Consumer Financial Protection Bureau (CFPB) to protect consumers from illegal and misleading lending practices. The CFPB website explains its goals this way: “We aim to make consumer financial markets work for consumers, responsible providers, and the economy as a whole. We protect consumers from unfair, deceptive, or abusive practices and take action against companies that break the law. We arm people with the information and stepstools that they need to make smart financial decisions.” On July 21, 2016, the CFPB celebrated its fifth anniversary and published its report card. The CFPB has: Provided $11.7 billion in relief to more than 27 million consumers; Handled nearly one million consumer complaints; Clarified and simplified loan disclosure forms; The CFPB is attacking abusive debt collection tactics. Consumers now have an advocate with enough clout to make a difference. People can rely less on private attorneys to address disputes with lenders and debt collectors. The CFPB saves people money, opens the door for many who otherwise could not get help and gives people the power to stand up for their rights against big companies.

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What Is the Consumer Financial Protection Bureau?

Posted in: Consumer Protection Law Articles

What Is the Consumer Financial Protection Bureau?

In 2010 Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act which created the Consumer Financial Protection Bureau (CFPB) in response to the financial crisis to ensure that consumers have access to financial markets that are fair, transparent, and competitive. Through rules, oversight, enforcement of the law, and consumer engagement, the CFPB works to protect consumers, ensure they are treated fairly, and restore people’s trust and confidence in the markets they use for everyday financial products and services.

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