Author Archives: Gideon Schein

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About Gideon Schein

Gideon Schein is a daily money manager & co-founder of Eddy & Schein in New York, New York.
EMAIL: gideon@eddyandschein.com
BIO: About Gideon
PHONE: 212-316-2214

Emergency Medical Services and Surprise Bills Law Takes Effect in NYS
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Authored by , re: LAW RELATED ARTICLES, on .
Emergency Medical Services and Surprise Bills Law Takes Effect in NYS | Gideon Schein

{3:45 minutes to read} Have you ever woken up from a medical procedure and been informed that you were treated by an out-of-network physician? Have you ever been treated in a non-urban area and sought the treatment of an in-network specialist - only to find out that the only available treating physician was not in network? Have you ever been provided medical services costing thousands of dollars by an out-of-network physician without even knowing it until the bill arrived?

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Small Estates Can Require Large Amounts of Work
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Authored by , re: LAW RELATED ARTICLES, Trusts, Estates & Elder law, on .
Small Estates Can Require Large Amounts of Work | Gideon Schein

{Time to read: 4 minutes} Emily died at the ripe old age of 98 with no assets other than $2,000 in her bank account and the minimal contents of her apartment. She was an award-winning novelist and a writer for The New Yorker. Emily lived a simple comfortable life right to the very end, but her long life used up her assets. Consequently, the search began for how to avoid probating the estate.

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Synergy: Enhancing the Work of a Team Already in Place
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Authored by , re: Elder Care, on .
Synergy: Enhancing the Work of a Team Already in Place | Gideon Y. Schein

When a client has a team of healthcare, financial or administrative professionals, there sometimes needs to be a liaison between the client and the professionals, or between the different professionals. A daily money manager/financial organizer can do that. Case Study: 80-year-old Paula already had a team in place before we began working with her.

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The Ugly Truth About Elder Financial Abuse & Fraud
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Authored by , re: Elder Care, on .

Elder financial abuse and fraud is one of the largest growing changes in the care of seniors. There are eight major sources of fraud: family members (including the result of sibling rivalry); unscrupulous businesses; caregivers; trusted professionals; transients; neighbors; “friends”; and what are called “sweetheart scammers." “Sweetheart Scammers,” both domestic and foreign, ask seniors for money for a sick relative or an emotionally-compelling emergency that tugs at the heartstrings.

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Enriching a Life by Restoring the Past to Build the Future
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Authored by , re: Elder Care, on .
Enriching a Life by Restoring the Past to Build the Future | Gideon Y. Schein

When illness and aging cause seniors to minimize their activities, finding creative solutions to help them enhance their lives is critical. Case Study: George is a man in his late 80s who led an independent life until he developed cancer, experienced severe macular degeneration, and a lifelong stutter got worse. He was very aware of not appearing the way he used to, and was extremely self-conscious.

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Caring for Seniors: Don’t Go It Alone
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Authored by , re: Accounting & Bookkeeping, Asset Management, Elder Care, FINANCIAL ARTICLES, Financial Planning & Insurance, on .
Caring for Seniors: Don’t Go It Alone | Gideon Eddy

Sometimes seniors or their families do not know enough about senior issues. This was the case for Lillian and her neighbor.

Lillian’s neighbor contacted us because she was very worried about Lillian’s situation in a nursing home. Lillian was confused and in deteriorating physical health and developing bad bedsores. The food and care was inadequate. Nursing home staff had impatiently pushed her toward her bed, she fell and broke her leg. The nursing home staff was also abusing Lillian financially - applying for Medicaid and petitioning for guardianship to gain control of her income and assets, as well as declaring themselves representative payees and redirecting her Social Security to themselves.

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