Livingston Reporting - page 224

Everything You Need To Know About Probate

Posted on by Creative Programs and Systems

The term probate can be used in a few different ways.  One way to think of probate is as the act of presenting a will to court officers for filing; often this is stated as to probate a will.  The other popular way to think of probate is as the method that an estate is overseen and routed through the courts after your passing.

The basic premise of probate it to transfer the estate that has been left behind in a fashion that is systematic and managed.  The estate must go through an exact procedure when being dispersed.  Before your inheritance can be divided amongst beneficiaries the administrator must see that all debts and taxes are paid on behalf of your estate.  Probate should be seen as a working guideline to transfer the estate on your behalf in accordance to your directions.

Probate applies to the death of any individual with an estate of any size, with or without a will in place.  If a will is in place upon your passing then it will lay down the ground rules for how and to whom your remaining estate is transferred.  Without a will in place the court will point an administrator to determine who in fact will receive the remains of your estate.

The process of probate is pretty basic when broken down.  There are two main steps involved: paying back debts that are owed on your behalf and transferring assets to the appropriate beneficiaries.

A probate court will oversee the process of probate.  Probate courts are state courts not federal and therefore the process may vary a bit from state to state but basically follow these basic four steps.

1)      A personal representative is assigned or appointed and sworn in.

2)      Heirs, creditors and the public are notified of your passing.

3)      The estate is inventoried.

4)      Estate is distributed including the payment of all outstanding debts.

The process is fairly simple.  Complications can arise but in most cases probate is a pretty straightforward procedure.

In probate it is important to understand that there is a difference between probate property and non-probate property.  In general assets that you alone own are probate assets while those owned jointly with others are often considered non-probate assets.  Non-probate assets will automatically pass on to the joint owner upon your death.  Another example of a non-probate asset is one that passes on to a named beneficiary automatically such as life insurance.

The Law Office of Sean J. Nichols is dedicated to assisting clients throughout legal issues that come with aging including: elder law, estate planning, probate law and more.  Check out the Law Office of Sean J. Nichols at http://www.seanjnichols.com to contact an estate attorney today.

Sean J. Nichols

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The Basics In Estate Planning

Posted on by Creative Programs and Systems

No matter who you are it is probable that you have an estate.  Even if you don’t think you do, you most likely do.  An estate is made up of all of the things you own on your own including: your car, home, checking & saving accounts, investments, life insurance, furniture and personal possession.  No matter how large or small you have an estate and all estate has one thing in common, you can’t take it with you when are gone.

We are all going to eventually die that fact is inevitable.  Many people say they don’t care how things are distributed after they are gone but in reality that is most likely untrue as well.  There are certain people that you will want to have certain personal items.  In order to be sure that your wishes are carried out it is crucial that you provide written instructions stating who you want to receive your estate, what you want them to receive and when they should receive it.

This is known as an estate plan.  Creating an estate plan where your estate is distributed in the most efficient manner possible helps avoid additional tax, fees and court expenses.  An estate plan is created in advance of your passing and is used to name who receives your estate after you die.  A good estate plan will also include:

  • Instructions in an estate plan should not only include your property with value but also instructions on your personal values. A written document stating your values on religions, education, hard work, holiday traditions and what matters most to you.
  • Detailed instructions should be included on how you hope to be cared for if you should become disabled before you die. What type of care do you hope to be given during this period of time between when you become disabled and the end of your life?
  • Your estate plan should name a guardian and financial manager for children under the age of eighteen. Who do you want to care for them?  Do you want the guardian of your children to also be in charge of your financial assets?
  • How do you want to distribute money to loved ones that may not be able to manage money or may need financial assets later in life?
  • State the instructions for family members needing special care in order not to disrupt government benefits that are being received.
  • Include details on life insurance and how it is to provide for your family at the time of your death. Written details on disability insurance that replaces your income if you are unable to work due to illness or injury before death. Also, include long term care insurance instructions to ensure you can pay for care in cases of extended sickness and injury.
  • Estate plans need to also contain information on how your business should be transferred upon your retirement, disability or death.
  • An estate plan should establish a transfer of assets that minimizes legal fees, court costs and works to minimize the amount of taxes paid.

Proper estate planning is a continual process.  Continue to update the estate plan as events in your life change.  Set up a regular yearly appointment with your estate planning attorney to review and update the plan to ensure that your family is covered when you inevitably pass away.

The Law Office of Sean J. Nichols is dedicated to assisting clients throughout legal issues that come with aging including: elder law, estate planning, probate law and more.  Check out the Law Office of Sean J. Nichols at http://www.seanjnichols.com to contact an estate attorney today.

 

 

Sean J. Nichols

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Maintaining Equipment While Sticking To A Budget

Posted on by Creative Programs and Systems

In the field of radiation oncology there is always a constant battle between bringing the best treatment options to patients while maintaining equilibrium to the budget.  In this latest installment we will continue to look into strategies that can help medical facilities that are struggling to find ways to reduce oncology costs while working to maintain quality.

In our last article we looked into purchasing refurbished linear accelerators and CT scanners to reduce the initial expense of large scaled medical equipment.  Today we will look in to two different cost saving ideas: using existing equipment longer and contracting independent oncology equipment repair specialists to repair and maintain radiology equipment.

When facilities hold off on large purchases, such as buying a linear accelerator, it allows them to allocate their budget into other areas such as patient care, facility upkeep and the medical team itself.  The downside being that the latest technology available may not be in use.  That issue can be addressed in numerous ways such as regularly updating equipment software and performing regular maintenance tasks.  When performing these in conjunction with one another, facilities find that they can keep up with the upgrades found in newer equipment.

It is imperative that all equipment within the facility meets all of the manufacturer requirements for maintenance.  When maintenance is being performed on any large or small oncology equipment it is necessary that it is done by individuals who have been trained to service the model that is in use.  This is an absolute necessity.  Not all radiology equipment is created equally and therefore need to be serviced by professionals knowledgeable of your exact models service maintenance requirements.

Another strategy that can be employed for reducing oncology costs is to hire an ISO to maintain and service equipment rather than locking into an unnecessary contract.  An ISO can offer a substantial savings while ensuring service on demand at a lower cost.  The upsides of hiring an ISO are plentiful.  Not only can it save the facility money but time.  Time is of the essence when maintenance or repairs are performed on large scaled medical equipment.

When hiring an independent service organization take time to ask the following questions to make sure that the priorities of the ISO are similar to those of your medical organization.

  • What is the estimated response time to respond to service needs? Can they provide references to match their response?
  • Are there any guarantees on response time?
  • Is support available 24/7 Are there extra charges for after hour support? What type of training is done to provide technicians with the latest skills necessary in maintenance and repair for newer technology?
  • Can we choose between using new radiology parts or refurbished components when repairs and maintenance are being performed on our linear accelerators, CT scanners and other radiology equipment?
  • Is testing and calibration done in accordance to OEM standards? Will service history be documented and kept on file to ensure compliance with the OEM standards?
  • What are the hourly service charges? Does the facility pay for travel time?
  • How long has the ISO been servicing oncology equipment? Are FDA and state vendor regulations met?

It is important for hospitals, medical facilities and specialized radiation oncology treatment centers to look for ways to decrease expenditures without sacrificing patient care.  Healthcare facilities must ensure that this is done in a manner that is compliant with industry standards while seeking to increase client satisfaction.

Radparts is the world’s largest independent distributor of OEM replacement parts for Linear Accelerators and Radiation Oncology equipment.  We provide high quality, user friendly, low cost parts support for linear accelerators and radiation equipment.  For more information on low cost parts for repairing Linac equipment find us at http://www.radparts.com.

RadParts

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Curtail Equipment Expenses While Keeping Up With The Latest Technology

Posted on by Creative Programs and Systems

Nothing is inexpensive when it comes to purchasing equipment for medical use.  Medical facilities are in a constant battle to decrease expenses while maintaining quality.  This is especially difficult when it comes to radiation oncology where cutting edge equipment, such as linear accelerators and CT scanners can easily cost millions of dollars.  It is essential that facilities search for different ways to reduce expenses and cap costs.

In the following installment we will discuss three different options medical facilities both big and small can provide top notch services to stay competitive without sacrificing the delivery and quality of care.  One way that medical facilities seek to do this is by purchasing refurbished linear accelerators and CT scanners.

Medical facilities can curtail equipment expenditures while keeping up with updates in technology, improving safety, providing more precise treatments and streamline work flow by budgeting for and purchasing refurbished equipment.  This is an extremely attractive alternative to purchasing brand new equipment especially when you can arrange to procure similar models to what is currently being used in your facility.  Using similar model equipment to what is already in use saves money on training.  It also reduces the amount of time that is usually lost when adopting to a new piece of equipment.

Refurbished equipment can offer the same performance and reliability as new equipment at a discount.  Choosing a reputable supplier that specializes in radiology equipment while also offering installation and maintenance services medical facilities save a great deal of money without any sacrifice.

Before seeking to purchase new refurbished medical equipment it is imperative that the decision makers in charge of purchasing get answers to seven very important questions.  These include:

  • Can we purchase refurbished equipment? If so, what is the process of refurbishing that the radiology oncology equipment we are seeking goes through?  Are the parts thoroughly tested?
  • Should we be able to expect that the refurbished medical equipment, either a linear accelerator or CT scanner, perform according to the manufacturer’s original specifications?
  • Will the equipment comes with any warranties or guarantees covering parts and labor?
  • Will the supplier that the refurbished oncology equipment is purchased from also be able to perform the installation? What about future maintenance?
  • What has the overall reaction to this model been? Have facilities that are using this model reported any ongoing issues?
  • Do they have a radiation test cell? Will full beam testing be done prior to installation within the medical facility?
  • What is the company’s reputation in the industry? Are you able to speak with other medical facilities that have been provided refurbished equipment and services from the supplier?

In our next installment we will continue looking into ways that medical organizations can save money when looking into reducing expenses in their medical equipment budgets while keeping up-to date with advances in technology in the field of radiation oncology.

Radparts is the world’s largest independent distributor of OEM replacement parts for Linear Accelerators and Radiation Oncology equipment.  We provide high quality, user friendly, low cost parts support for linear accelerators and radiation equipment.  For more information on low cost parts for repairing Linac equipment find us at http://www.radparts.com.

RadParts

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Making The Most Out Of Your Renovation Dollars

Posted on by Creative Programs and Systems

Interest rates are seeing record lows making it affordable for more homeowners to obtain a home equity loan.  Finally contractors are finding themselves taking on expansive home addition projects for clients.  Below you will find a few items to think about as you tackle any sized home improvement project.

The real estate market is ever changing.  It is important to remember that every investment that you make to your home has a different return on investment.  Some renovations are done purely for your own satisfaction and it is important before you invest thousands of dollars that will never be recouped that you fully wrap yourself around that idea.

Whereas other renovations not only recoup their value when your home sells they add substantial value to the homes equity.  To make sure that the renovation makes sense consider the cost to value ratio verse buying a new home.  Of course other factors will go into this such as the location of the home, home available on the market and such but overall does it make sense to put money into your current home?

There are a number of ways to increase the space within your home.  Not all home additions are viewed the same when it comes to the real estate market.  For instance, many buyers view a sunroom as a liability.  You may however consider a sunroom the ideal way to bring the outdoors inside.  Consider this when investing in the renovation.  If you will not be able to recoup your investment in the long run how much are you willing to spend to get what you want so that you can enjoy the space while you own the house?

Finishing a basement however is seen by most buyers as a viable use of space.  If you are finishing a basement to offer additional bedrooms and living areas make sure that they function as such.  If the current basement lacks natural light it is important to plan the renovation to include additional natural lighting and windows.  The space should function just like an addition onto any other part of your home.  You are not adding additional square footage to the home per se however you are adding to the functional space of the home.

A major benefit of creating an addition out of spaces that already exist in your home like with attic and basement renovation is that although you aren’t adding square footage to the house you also aren’t eating up valuable landscape space.  It is amazing how an addition to an existing home can really transform the space.  With the constant noise, presence of crew and other distractions it can be hard to remember why you chose to renovate.  Keep in mind that all home improvement projects have a bright light at the end of the dark tunnel; the enjoyment that you will find in having additional functional space without the hassle of selling a house, buying a new one and moving your household.

Aspen Construction is an innovative building leader specializing in home additions, new construction, bathroom and kitchen remodeling.  For all of your home improvement needs including electrical services contact us today at http://www.aspencoinc.com/.

Aspen Construction

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Considerations To Make When You Choose Renovating Over Moving

Posted on by Creative Programs and Systems

Many homeowners consider moving for one reason or another but the lack of money or motivation to pack everything up stops them.  Logically the next thought is to renovate their current home with a home addition.  That’s a whole lot easier than moving, right?

The truth is that there are pros and cons to both options.  Renovating your home has a different set of issues to consider.  Homeowners will need to consider whether they will proceed with the renovations on their own or if they will hire a professional contractor.  Remodeling projects also need to be budgeted for as the expenses can quickly get out of hand.  Homeowners should also consider the time and mess that comes along with a home addition.  It may be that in the end the idea of moving isn’t so bad after all.

In all seriousness however, most homeowners will choose adding on to their homes over moving nine out of ten times.  There are a number of reasons that staying in your home is a top choice over moving.  The most common reason for this is the location of the current home.  For most of us change is uncomfortable.  We become comfortable with the neighborhood and the routine of life all which would be disrupted substantially if we chose to move.

To begin any home renovation or room addition project homeowners should start by scheduling a meeting with an expert in home construction.  Be sure that the contractor that you choose is bonded, licensed and insured.  It is also a good idea to choose a home contractor that has built a solid reputation within your community for new construction projects and room additions.

After you have a general idea of what to expect the project to cost it is time to sit down and realistically figure if the addition is something you can afford.  Will you be able to pay cash for the renovation or will you need to look into financing options.  The cost of the renovation will mainly be dependent on the size of the space to be added along with the purpose of the space.  Certain rooms like bedrooms and home offices are cheaper than renovations where there are a great deal of additional material expenses like bathrooms, kitchens and living rooms.

One way to safely decrease the expense involved in adding on to your home is by utilizing the homes existing floor plan.  Another option is to utilize an existing space for the additional room such as a basement or attic.  Understand that with any change comes some inconvenience.  Whether you move or choose to add on to an additional home get ready to be flexible and focus on the light at the end of the tunnel.

Aspen Construction is an innovative building leader specializing in home additions, new construction, bathroom and kitchen remodeling.  For all of your home improvement needs including electrical services contact us today at http://www.aspencoinc.com/.

Aspen Construction

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The Best Bankruptcy Option For Your Situation

Posted on by Creative Programs and Systems

Have you ever been overwhelmed by debt? Have you ever considered if bankruptcy was the next step in your financial recovery? There are numerous advantages and disadvantages that come with filing for bankruptcy. We will look into common myths that surround bankruptcy and when it may be the best option for you.

Bankruptcy is an arrangement in federal law that allows individuals and businesses to get a reprieve from their debts and to get a fresh financial beginning. This system allows honest individuals who have fallen on hard times to get on with their lives without the harassment that comes from creditors.

There are two common categories within bankruptcy law that can be declared: chapter 7 bankruptcy and chapter 13 bankruptcy. In the most basic terms chapter 7 bankruptcy liquidates non-exempt assets and the proceeds are used to pay off creditors. This is a solid option when there is a large amount of unsecured debt to be covered by a small income. Chapter 13 bankruptcy helps individuals and businesses to reorganize and adjust their debts while using a repayment plan to cover the outstanding debt. This is a good option for those debtors that have an income and want to avoid foreclosure and catch up on outstanding bills.

A major advantage of filing for bankruptcy is that creditors are on notice to stop trying to collect outstanding debts from you. This means that they no longer can call you, send you letters, file lawsuits, garnish wages or seize your assets.

A major disadvantage in declaring bankruptcy is the devastation it wreaks on your credit score. Another issue that arises in bankruptcy is that certain non-exempt assets can be sold and debts from mortgages, student loans, taxes, alimony and child support cannot be discharged.

There are many myths in bankruptcy. One myth is that by just stating you want to file bankruptcy you have declared bankruptcy. This is not true. For bankruptcy to be legal you must file the right paperwork, go to credit counseling and pay the fees. It all reality it is best that a bankruptcy attorney is hired to facilitate the process to avoid legal complications from arising with improperly filed paperwork.

Another common myth is that you can go to jail for owing money. This is untrue. It is not against the law to owe money no matter how aggressive the debt collector is. One myth is that by just stating you want to file bankruptcy you have declared bankruptcy. This is not true. For bankruptcy to be legal you must file the right paperwork, go to credit counseling and pay the fees. It all reality it is best that a bankruptcy attorney is hired to facilitate the process to avoid legal complications from arising with improperly filed paperwork.

Another common myth is that you can go to jail for owing money. This is untrue. It is not against the law to owe money no matter how aggressive the debt collector is. Yes, creditors can sue you or take you to court but they cannot send you to jail.

Consider filing for bankruptcy if you are unable to meet your financial obligations. If you have been work for an extended period of time, delinquent on your taxes, nearing foreclosure on your home, having your wages garnished or pending a law suit on delinquent bills it may be time to meet with a bankruptcy attorney to further look into the benefit bankruptcy may have for your financial future.

Bohikian Law Group specializes in chapter 7 and chapter 13 bankruptcies in Michigan. Contact us today to find a bankruptcy attorney that will help you in debt relief at http://www.bohikianlaw.com/ today.

Dickron Bohikian Law Group

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Knowing When It Is Time Seek A Bankruptcy Attorney

Posted on by Creative Programs and Systems

When it comes to filing for bankruptcy different thresholds exist for when it is time to call it quits and throw in the towel.  For many clients filing for bankruptcy comes after months of calls from creditors threatening to garnish wages or threatening to take you to court for not paying your debts.   The media bombards us with nightmarish tales of bankruptcy and the stigma that we assume will follow often deters seeking assistance.  With all this going against you how do you truly know when it is time to throw in the towel, meet with a bankruptcy attorney and file for bankruptcy?

If you think you are reaching the financial danger zone there are a few questions you can ask yourself to determine if there is a way out or if bankruptcy is the only option.

First, look at the payments you are currently making on your outstanding debts.  Are you only making the minimum payment?

The next thing to address is the issue of creditors and harassing phone calls.  Do you find that you can’t make it a day without getting a phone call from someone that is seeking to collect on a debt that you owe?

When you begin to think about getting your financial house in order and sort out your finances do you get nervous?  Are you plagued with nightmares when you think about creating a budget?

Have you taken the time to add up the exact amount that you owe?  Is debt consolidation a consideration?  Does the amount of money that you have coming in make it feasible to buckle down and get ahead within the next five years?

If you can answer yes to any two or more of the questions listed above then it may be time to seek out the advice and counsel of a local bankruptcy attorney.  Bankruptcy is a definite option to assist you through uncertain financial times.   If you owe more than you can afford to pay while continuing to live a minimal standard of living then it is time to give bankruptcy a fair consideration.

You can seek relief from bankruptcy by voluntarily filing or if creditors ask the court order you to file for bankruptcy protection.  In either situation you will want to consult with a bankruptcy attorney to determine the next course of action for your current circumstance.  There are two different types of bankruptcy laws you can file for protection under: chapter 7 and chapter 13.  Meeting with an attorney that specializes in bankruptcy will allow you to proceed in the most appropriate manner.

Bohikian Law Group specializes in chapter 7 and chapter 13 bankruptcies in Michigan. Contact us today to find a bankruptcy attorney that will help you in debt relief at http://www.bohikianlaw.com/ today.

Dickron Bohikian Law Group

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The Art Of Collecting

Posted on by Creative Programs and Systems

What is it that makes a collectable valuable?  This question is something that collectors of all ages will debate heavily into the foreseeable future.  Take my son for example.  In his short life of only thirteen years he has had several different collections that have been near and dear to him.  At two he collected Thomas the train, at four he found a passion for the movie Cars and collecting the little car replicas but now nine years later both of those collections have been left in the dust along with his pokemon cards and we are on to collecting disc golf Frisbees.

The answer to that question is as different as each collection and collector.  Did we ever profit from any of my son’s collections?  Yes and no, we found great satisfaction over the years in the adventure of finding a missing or hard to find item for his set which in itself is victory but financially we may have just about broken even. This is not the case for all collections and yes had we been more diligent in who we sold the collections off to we could have been more profitable but that wasn’t what we were after.

For a collectable to be of financial value there is a whole set of ground rules that differs from us casual collectors although it is still quite subjective.  For a collectable to have the investment factor there are numerous things to consider.

For a collectable to have a monetary reward someone has to be willing to purchase it.  Even if a collector thinks their collection is worth a certain dollar value it isn’t unless another collector also perceives it to be worth spending amount of money on it.

Another factor that comes into play for a variety of collectables is the condition of the item.  For instance, antique canes are quite popular amongst collectors.  A certain amount of wear is acceptable for items of past eras but an unreasonable amount may decrease what a buyer is willing to pay.  This may not be true with all collectables.  With antique canes the historical value, along with the age of the cane and whom it may have belonged to come into play when determining the value as well.

This is however not the case when it comes to collectors of baseball cards.  The collectable nature is the shape of the card, the rarity of the individual on the card and that person’s place in history.  The shape of the card plays a huge role in the value of the card.  Any amount of wear seen on baseball cards is deemed an imperfection and decreases the value.

Collecting should start from the heart and not the pocket book.  If you love something and enjoy seeking out the beauty in finding an odd, unique or rare piece then the money spent on the collection and the return on investment becomes less important.  Collectibles of all kinds are fun to acquire.  It doesn’t hurt to consider the condition, age, authenticity and rarity of an item before you pay an exorbitant price for it.  Just remember in the end what remains after the funds have been exchanged is the thrill of the find.

Antique Cane World is an online retailer of antique canes, walking sticks and umbrellas.  Contact us today for more information on antique canes, unique umbrellas and more at http://www.antiquecaneworld.com/.

Antique Cane World

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Satisfying Nostalgic Needs Through Collecting

Posted on by Creative Programs and Systems

Collectors are often searching for a way to satisfy a nostalgic craving.  Collections range from antique canes to baseball cards.  The difference in items that collectors seek out is all part of the adventure.  For some collecting is about investing their money in something that will bring in a return while for others it is all about finding something rare and unique to call their own.  There is a definite distinction between the two communities so it is important to separate between collectible that retain their value and those that only preserve the dust that sits on them.

One hot collectable that has been on the scene for almost fifty years now is hot wheel cars.  Let’s face it, boy or girl, young or old, who doesn’t have that kid like feeling when they are handed a hot wheel.  These little toys are a fan favorite still to this day.  It is an inexpensive collection that many young children start that they can keep for generation after generation.  No matter when you start collecting hot wheels always look to find limited issue cars.  These are the ones that will continue to increase in value as they age and become harder to find.

Another collection that is popular is books.  The internet and e-readers are making this an even more collectable gem.  Certain classics and first addition books in good condition, especially if autographed are extremely valuable.  Some books are only valuable because of their nostalgic value to the reader.  Most often collectors of books aren’t looking to obtain a huge return on their investment yet are collecting books to pass on to later generations.  The value of this type of collection is more to pass on a love of reading, collecting and sharing in the adventure of being able to get lost in the written word.

History buffs tend to like collecting antique canes and walking sticks.  These pieces are highly collectable because the story they tell of past eras.  When looking for a collection that will continue to retain and increase in value antique canes deliver.  The value is within the materials that are used to create unique canes.  This alone tends to help insure the value of these historical pieces.  Materials such as ivory, gold, silver and rare animal bones not only add value as they become increasingly rare but also intrigue into our history.

From antique canes to little toys let’s be clear a collection is as valuable as the market of collectors is willing to make it.  You may believe that old Frogger video game isn’t worth much but to that collector that remembers the joy it brought him when he was playing it on his Atari it might be worth a million bucks.  The old adage about beauty being in the eye of the beholder is never truer than in the world of antiques and collectables.

Antique Cane World is an online retailer of antique canes, walking sticks and umbrellas.  Contact us today for more information on antique canes, unique umbrellas and more at http://www.antiquecaneworld.com/.

Antique Cane World

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