Understanding The Fundamentals Of Elder Law

July 28, 2010 By Law Library Leave a Comment

People have over the years become more health conscious. A very high percentage of individuals especially in developed countries work out regularly. Together with the modern medical facilities this has increased the life span of individuals. Elders of the present age are more active then their ancestors. And hence the legal issues surrounding them too have increased. Increase in the number of elder law cases is an offshoot of the global development in the twentieth century.

Elders are often worried about how to take care of their life time savings and the assets earned, bought or inherited in better days of life. This leads to more legal complications. Estate planning and maintenance is the most popular topic in Elder law. Many elders don’t understand tax treatment of it and often seek help of special attorneys. Health related issues such as getting Medicaid help is the second category of elder law cases. Understanding benefits of any government sponsored elder support program or benefits from health insurance policy are difficult for a common senior citizen and they often seek help of lawyers who specialize in this area. Every individual past the age of 60 would always wish that his or her assets be smoothly passed on to children or others of their choice after he or she is no more. To make this easy, laws have been frame to cover these issues. This is the third popular category of elder laws.

Creating Will is one of the first things that an ageing individual should do. Governments across the world have framed clear laws about creation of Will and disposal of assets covered under the Will. You can also choose who will execute the Will and who will become guardian of your minor children. If you fail to make a Will, the local laws will decide who will inherit your wealth. And this often creates bitter issues between family members, especially if you have married more than once and has more than one child. Apart from Will, one should understand the laws related to power of attorney. If you need the help of someone to take care of your estate while your are living, laws related to power of attorney can help you. You can then give necessary rights to the estate care-taker without worrying about loss of its ownership.

Understanding health support programs such as Medicaid or Veteran support programs in the US is very critical. Always have an elder law lawyer to help you understand your eligibility under these programs. If you have a disability, there are more laws that can potentially help you. Special ailments too receive special benefits under these laws. Governments have also made laws related to elder abuse issue. Rates of domestic crime are increasing every day. Consult your attorney immediately if you have such issues.

Legal issues are bound to arise as you age. And hence it is imperative for anyone to understand elder law and how it can help you solve these issues. A little effort can help you spend the last years of your life in peace and tranquility.

Filed Under Elder Law Tagged With Elder, Fundamentals, Understanding

Debt Collection Agencies : Understanding a Growth Industry

July 8, 2010 By Law Library Leave a Comment

Consumers in the UK collectively owe in excess of £1 trillion according to recent media reports. Much of this debt is due to borrowing on credit cards, bank loans and mortgages; but as consumer borrowing increases, so does the amount of people encountering financial difficulty in paying back what they owe.

As a result, more and more financial agreements are becoming delinquent and are subsequently passed from the original lender to a debt collection agency. Debt collection agencies are businesses that collect past-due bills and accounts receivable for other persons or businesses in exchange for a fee. Collection agencies charge for their services in one of three ways: a flat fee, a percentage of the amount recouped, or more commonly through a direct purchase of the delinquent account.

Attempts to collect small or medium sized debts are best done using debt collection agencies that charge a flat fee for their services. These agencies are likely to work just as hard at collecting a small debt as they are in trying to collect a larger debt.

The third option is rapidly becoming the most popular among the larger financial institutions as they seek to cut their losses and free up resources away from debt collecting. In most cases, these financial institutions have large portfolios of outstanding debt, and selling it on to debt collection agencies allows them to recoup some of the money loaned out and free up costly resources away from chasing the delinquent debt.

In order to collect due debts most collection agencies will use one of three tactics: letters, telephone calls, litigation. Typically, debt collection agencies will begin the collection process by sending a series of notification letters, often allowing the debtor to enter into negotiations to repay the debt. These letters are often called ‘demand’ letters. The final notification letter that is sent out generally warns the debtor that if no contact is made prior to a certain date then the debtor’s name – whether it be an individual or a company – will be passed onto a more intensive method of debt collection.

In addition to letters, some collection agencies might also phone the debtor directly, again allowing the debtor to work with the agency to agree a plan to repay the debt. Telephoning a debtor at home can sometimes have the best results in collecting a delinquent debt. The third method, litigation, is a last resort and is generally only used when all other attempts to reclaim the debt have failed. Litigation involves taking the debtor to a small-claims court and could eventually result in the debtor being made bankrupt, depending on the amount of debt owed.

Other services provided by debt collection agencies include locating absent debtors who can no longer be reached at the address or telephone number listed on their accounts. Some agencies also offer ‘doorstep’ collection, whereby they employ a number of collectors to visit debtors in their homes to arrange the repayment of debts owed.

Debt purchasing is becoming big business in the UK with many specialist debt collection agencies, such as Capquest Debt Recovery, providing advice on how best to proceed with the recovery of unpaid debt. Should you have a need to employ the services of a debt collection agency make sure that they are members of the Credit Services Association, a regulatory body associated with the debt collection and financial industries.

Filed Under Debt Collection Tagged With Agencies, Collection, Debt, Growth, Industry, Understanding

Understanding it Governance

June 8, 2010 By Law Library Leave a Comment

 

Governance

Governance is the buzz word these days – you hear of Enterprise Governance, IT Governance, Portfolio Governance, Program Governance, Project Governance, Data Governance, SOA Governance and the list goes on.

What is Governance?
There is no standard universally accepted definition for IT Governance.
We would define governance as a set of protocols, procedures, best practices and guidelines that can be of assistance to make better decisions.

Portfolio Governance, Program Governance, Project Governance, Data Governance, SOA Governance and other IT related frameworks are closely tied with IT Governance and IT Governance is integral part of Enterprise Governance.

IT strategic governance is required to efficiently manage IT investments. IT strategic frameworks like COBIT and ITIL provide guidance to improve accountability and delivery of IT investments (Programs, Projects, Services and Resources).

 

Strategic Governance has become more critical in the new age of globalization and corporate scandals. We need to consider business IT alignment, new regulatory requirements to support executive management and clearly connect the strategic plans to governance processes.

 

IT departments need to create a strategic plan that describes the mission, vision, goals, priorities, strategies, measures and technologies covering all aspects of IT Department. IT strategic plan is usually derived from the supporting department’s strategic plans.

Balanced Scorecard:

 

Developed by Kaplan, a Harvard Business School professor of accounting and Norton, president of Renaissance Solutions, Balanced scorecard is a strategic planning and performance management framework that enables measurement and translation of strategy into financial and non-financial factors.

 

Balanced scorecard translates the organizations strategy into four perspectives

Financial Performance, Customer Knowledge, Internal Business Processes and Learning & Growth.

What is CobiT:

 

Control Objectives for Information Technology (CobiT) is a set of standards for guiding management in the sound use of information technology published by Information Systems Audit and Control Association (ISACA) and and the IT Governance Institute (ITGI)

 

CobiT4.1 has 34 high level processes that cover 210 control objectives categorized in four domains: Planning and Organization, Acquisition and Implementation, Delivery and Support, and Monitoring.

 

What is ITIL:

 

ITIL(the IT Infrastructure Library ) is the most widely accepted approach to IT service management in the world.The ‘IT Infrastructure Library’ was originally created by the United Kingdom Government.

 

ITIL version 3 release has a significant change of framework from the previous emphasis on IT process to a total lifecycle approach (Service Strategy, Service Design, Service Transition, Service Transition and Continual Service Improvement).

 

Portfolio Governance:

 

Portfolio Governance defines the processes and procedures for the management of IT Portfolio ( Programs, Projects and Tasks).
Portfolio Management is the key for IT Governance since it covers the planning and management of total IT investments.

 

Assign PMO irrespective of the type (Centralized PMO, Consulting PMO or Blended PMO) with Portfolio Management would create a IT value governance structure that can reap huge benifits to the organiation.

 

IT Portfolio usually created from the business strategies will need to be supported by PMO to standardize and govern the programs and projects in the approved portfolio providing a full value governance flow for IT investment.

Program Management Standard / Managing Successful Programs (MSP)

Standard for Program Management is a collection of five process groups and the program life cycle practices published by Project Management Institute(PMI).

 

Process Groups Are

Initiating Process Group,

Planning Process Group,

Executing Process Group,

Monitoring & Controlling Process Group

Closing Process Group.

 

Program lifecycle includues the following

 

Pre Program Setup

Program Setup

Establish Program Managment

Deliver Benifits

Close Program

MSP (Managing Successful Programs) is a framework for program management ublished by the Central Computer and Telecommunications Agency (CCTA) now part of the Office of Government Commerce (OGC). MSP is widely recognised and popular in Europe

 

MSP Process are

 

Identify Program

Define Program

Govern Program

Manage Portfolio

Manage Benifits

Close Program

PMBOK / PRINCE2:

PMBOK – Project Management Body Of Knowledge is a collection of five process groups and nine knowledge areas for effective project management best practices published by Project Management Institute(PMI). PMBOK is widely recognised and popular in North America.

 

Process Groups are Initiating, Planning, Executing, Monitoring & Controlling and Closing.

 

Knowledge Areas Are:

Project Integration Management

Project Scope Management

Project Time Management

Project Cost Management

Project Quality Management

Project Human Resource Management

Project Communications Management

Project Risk Management

Project Procurement Management

 

PRINCE2 (Projects IN Controlled Environment) is a process-based method with eight processes and four phases for effective project management developed by the Central Computer and Telecommunications Agency (CCTA) now part of the Office of Government Commerce (OGC). PRINCE2 is widely recognized and popular in Europe

 

Process Groups Are

Planning

Starting up a project

Initiating a project

Controlling a stage

Managing product delivery

Managing stage boundaries

Closing a project

Process Phases Are: Starting a project, Initiating a project,  Implementing a project, and Closing a project.

Please refer to the other articles from www.governancetraining.com to understand IT governance and advance your career by appropriate governance certifications.

 

Filed Under State Government Tagged With Governance, Understanding

Understanding How Divorce Law Works

June 2, 2010 By Law Library Leave a Comment

In the case where you are considering divorce, almost regardless of the reasons behind your decision, it is important that you be aware of just what is involved in obtaining a divorce in the US.

In general, the laws of each state set out specific reasons for a divorce which have to be proven before the court is allowed to grant it. This can be under a no-fault heading, an all-fault heading, and a summary heading. In recent years some less adversarial ways to approach to divorce settlements have emerged, like mediation and collaborative divorce, to negotiate mutually acceptable resolutions to conflicts for a couple.

At-fault divorces were originally the only way to dissolve a marriage, and people who had differences or problems were only able to separate, and were prevented from legally remarrying afterward. The state of New York is the only one which still requires fault to obtain a divorce. In an at-fault divorce, one party usually brings divorce proceedings against the other due to some breech of marriage regulations like adultery, abandonment or cruelty.

Comparative rectitude is the name given to a doctrine used to determine which spouse is more at fault in divorce proceedings when both spouses are found to be guilty of breaches. This kind of divorce can affect the distribution of property, and will allow an immediate divorce, especially in states where there is a waiting period required to obtain a no-fault divorce. A defense for this type of divorce can turn out to be expensive and is not usually practical since most divorces are eventually granted anyway, especially when a society comparable to that in the US is not interested in forcing people to remain married any longer. Remember, marriage in the US also has legal ramifications, so if you do not want to be married anymore, you need to get divorced, it is much more than simply taking the mental attitude of no longer being married.

Under a no-fault divorce set of rules, a marriage partner does not need to show that the other marriage partner did anything, or was at fault in order to obtain a divorce. Many common reasons for no-fault divorce can be incompatibility, irreconcilable differences, and irremediable breakdown of the marriage. In the United States, currently 49 states have adopted no-fault divorce laws.

In states that grant no-fault divorces, there may be a waiting period of up to a year before the divorce is considered final. Other requirements include mandatory counseling to see if reconciliation can be achieved if one party does not agree to the divorce, either dependent on an amount of time set by the court, or for a predetermined amount before the divorce may even be applied for,

A summary (or simple) divorce, available in some jurisdictions, is used when spouses meet certain requirements for eligibility, or can agree on important issues beforehand like if it was a marriage lasting under 5 years, there were no children (or, in some states, the couple have resolved custody and set payments for child support), there was minimal or no real property (there was no mortgage on a house or condo), the property owned by the married couple is under a threshold (around $35,000, not including vehicles), and the personal property of each spouse is under a set threshold (typically the same amount as marital property). A simple divorce where both couples agree on how the divorce should be handled and assets divided is also known as an uncontested divorce.

It is estimated that in the US upwards of 95% of all divorces are uncontested, since the two parties are able to come to an agreement (with or without lawyers/mediators) about the property, children and support issues. When the parties are able to agree and present the court with a fair and equitable agreement, approval of the divorce is almost certain. In the case where the two partners cannot come to an agreement, they may ask the court to decide how to fairly split property, deal with children and custody issues, and so forth.

Residency requirements to file for a divorce vary from state to state. In some states, like Colorado, residency requirements are very liberal to accommodate military personnel who have to move often for tours of duty, while other states, like New York, require that you live in them for a minimum of a year with the intention of making this your permanent state of residence. A spouse may separate, move to a state with divorce laws of their choice, establish residency, and file. However, this typically does not change the state in which property and other issues are decided, and it is possible for a court to decide not to hear a petition for divorce if it decides that it does not have legal jurisdiction to do so based on residency issues.

A final consideration to be made when considering where/if to file for divorce is the laws concerning the distribution of property and division of assets. States like Alabama are considered to be an “equitable distribution” state which means that all property acquired during the marriage is divided equally among the two parties. In other states, like California, assets can be awarded to a spouse from the other based on economic need, and in still others, like Alaska, even though it is an equitable distribution state, in some jurisdictions in the state, women have little or no rights to marital property. In some states, alimony is awarded to the stay-at-home spouse, where in others, alimony is paid by the spouse making the most to the spouse making the least, despite the one needing to get child support because they have actual custody.

Filed Under Family Law Tagged With Divorce, Understanding, Works

Understanding Child Custody Laws

May 21, 2010 By Law Library Leave a Comment

Child Custody Laws differ from state to state. You need to check with your state’s laws to get the most current information. When it comes to child custody Laws, there are a few states that have all the procedures laid out for the separating parents and there children. The judges must follow these guidelines to assist in determining the custody of the children during and after a divorce.

There aren’t many federal laws that apply to children’s custody, with the exception of transporting across different state lines. States do have differing laws that deal with jurisdiction between other states, but not all states have this understanding however. So if one parent lives in one state and the parent and children in another, the state where the children reside will have more influence. Of course you must take into consideration which state the separation and custody papers where filed.

Child custody Laws are designed with interest of the children as the first priority. Child custody laws are designed to prevent custody going to abusers of drugs or alcohol. Laws are also in place that prevents the children from going to an environment where there is clear mental or physical abuse. Most states prefer joint custody between the parents, where both parents can be a functional part of raising the children. The parents would share both physical and legal custody of the children.

It’s really important to understand these two distinctions in the Child custody laws. Physical custody is where the children are residing. When a child lives a large portion of time with one parent, that parent has what is known as physical custody. Often times during the summer months children leave one parent to live in the house of the other. During those situations physical custody moves from one parent to the other.

Legal custody is the right and responsibility to make important decisions regarding health, education, and well being issues. Often both physical custody and legal custody are with the same parent, unless the parents have joint custody. During those situations the court may decided that where the children reside at the time that that parent can determine what is best for the children at the time. However is would be wise to have a consensus between the parents.

Again, research the child custody laws of your state or province to determine what the best solution is for you during these trying times. Always have the children’s best interest when making these decisions.

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Filed Under Family Law Tagged With Child, Custody, Laws, Understanding