Bielski Law Office, Ltd.

WWI Vet Still Frozen After 50 Years

The science of cryogenics is uncertain, but that has not stopped some people from having their bodies frozen after death in the hopes of being brought back to life later. It has been happening for decades.

In 1966, a World War I veteran named James Bedford passed away. Rather than having a normal burial, Bedford paid to have his body frozen by using liquid nitrogen. His hope was that eventually doctors would be able to unfreeze him and cure his ailments.

His body was checked on in the 1990s and was reported to be in good condition. Now, 50 years later, he remains frozen. His is believed to be the oldest body frozen for this purpose that is still maintained. It will remain frozen indefinitely, as long as funding for it continues.

FOX News reported this story in "After 50 years, frozen WWI veteran's body awaits reanimation."

The science behind freezing and reanimating a human body is considered dubious by most experts. Although researchers were able to freeze and reanimate a rabbit brain recently, most do not think it will ever be possible to do something similar for a human body.

People who are interested in the procedure, are still able to have it done for themselves after they pass away. However, they should do so with the understanding that it might never work. The process is expensive, too.

Consequently, elderly people who might be vulnerable should be cautioned against it by caregivers. They might be spending money better used by their family members in an estate plan.

Reference: FOX News (Jan. 18, 2017) "After 50 years, frozen WWI veteran's body awaits reanimation."

New Year's Estate Planning Tips

Every time the calendar turns over to a new year, it is a good idea to review any estate plans that you might have made.

Periodically reviewing your estate plan is necessary if you want your plan to remain effective. Things change and your estate plan should change to reflect that.

Even if you do not think that there have been any substantial changes that would require an update to your estate plan, you should review it anyway, just in case. Many people advise that you should review your plans every January because it is easy to remember to do so then.

Recently, the Wills, Trusts & Estates Prof Blog offered some estate planning tips that can help you review in "Tips for Estate Planners in 2017," including:

• Make sure that your life insurance policies are up to date.
• Write down what your children should do in the case of an emergency.
• Save your family the hassle of providing for your burial and make those plans yourself.
• Put money in a 529 plan to provide for the educations of your children or grandchildren.
• Hold a family meeting so everyone knows what to expect from your estate plan.
• Create a list of your important assets for your estate administrator.
• Make sure someone can access your passwords to digital accounts, in case something happens to you.
• Update charitable bequests, if necessary.

Reference: Wills, Trusts & Estates Prof Blog (Jan. 21, 2017) "Tips for Estate Planners in 2017."

Unusual Marilyn Monroe Auction

Some celebrities retain enormous popularity long after they have passed away. A strange piece of Marilyn Monroe memorabilia is about to go up for auction that proves that she still has her star power.

Images of Marilyn Monroe are still used by companies to sell their products, even though she passed away decades ago. In recent years, her likeness has been used in a commercial that premiered during the Super Bowl.

Out of all of the famous people who still have star power long after they passed away, she might be the one that has the most. An upcoming auction shows just how much star power she still has.

The plaque that used to mark her mausoleum is being sold. It was replaced many years ago because it had become so worn by visitors touching it. The bidding will start at $10,000, but it is expected to go much higher.

TMZ reported on this story in "Marilyn Monroe Mausoleum Marker Up For Grabs."

It is not clear from the reporting who will receive the proceeds from this auction. Monroe's estate is known to be very protective of her image, but it might not have ownership of this mausoleum marker.

One thing this shows is that anyone who has any ounce of fame at all would be wise to plan ahead about how things related to them will be handled after they pass away. Celebrity memorabilia can fetch enormous prices under the right circumstances. Estate planning should take that into consideration so it is clear what can be sold and who will benefit from anything that is sold.

Reference: TMZ (Jan. 22, 2017) "Marilyn Monroe Mausoleum Marker Up For Grabs."

Elderly Parents More Costly Than Kids

New data has revealed that it is now more costly for families to care for elderly parents than it is for them to raise children.

Everyone knows that kids are not cheap. To raise a child from infancy to high school graduation puts enormous strains on families.

New government data has recently revealed that the average family spends $234,000 to raise a child to the age of 17. While that might seem like a lot, it is nothing compared to the costs of taking care of an elderly person.

The average cost of just four years of long-term care for an elderly person is $140,000, according to Forbes in "Families Spend More To Care For Their Aging Parents Than To Raise Their Kids."

As the article points out, parents receive a lot of government support to help offset the costs of raising children. The support comes in the form of tax credits and exemptions, in some cases. Lower income families receive support in other ways, such as food stamps and free school lunches.

While there is some support for taking care of the elderly because of Social Security and Medicare, there could be a lot more. Medicaid only pays for the long-term care of elderly people who do not have assets.

Families need to be aware of the high cost of caring for the elderly, so that they can plan accordingly. Money needs to be saved to cover the potential costs.

It might also be a good idea for elder advocates to use this data to argue for more support for families who care for their elderly relatives.

Reference: Forbes (Jan. 18, 2017) "Families Spend More To Care For Their Aging Parents Than To Raise Their Kids."

A Looming Crisis for Caregivers

As Americans continue to live longer and longer, more and more of them rely on caregivers for assistance. However, that takes a toll on caregivers and there is a dwindling supply of them.

For any job to get done, there must be people able and willing to do the job. Caring for the elderly is no exception.

As medical advances continue to allow people to live longer on average, there are more elderly who require people to care for them. Often that caregiving is provided by family members.

Unfortunately, with declining marriage rates, declining birth rates and a mobile society that can weaken family ties, there are fewer family members available to provide care for elderly relatives and who are willing to do so.

Providing that care also comes at a steep cost for those who do take on the job, as reported by The New York Times "Who Will Care for the Caregivers?"

Providing care for elderly relatives often causes stress and other emotional problems. This is especially true, if the caregivers have other jobs, which most do. People who serve as caregivers earn less over their lifetimes on average than those who do not.

Ironically, that makes it more likely they will in turn require care when they get older.

Elder law advocates and health care professionals need to be aware of these issues and potential problems. It is important to make sure that caregivers have the support they need both emotionally and financially. If they do not, then the ability to care for the elderly is compromised.

Reference: New York Times (Jan. 19, 2017) "Who Will Care for the Caregivers?"