Additional Elder Law FAQ...

Continuing the theme of our previous post, five additional questions that are often associated with the practice of elder law are:

• How do I best protect assets?
• When should I begin the process of asset protection?
• How do I find an appropriate assisted care or nursing home?
• How do I interpret long term care contracts or agreements?
• Who should I contact to discuss services at my home?

Given increases in average life-expectancy and changes in family structure over the years, elder law is an emerging field that, by all expectations, will become an area of critical importance to most of us. With this in mind, our next several posts and newsletters will include relevant information on the subject, which we hope you'll find helpful.

Emerging Trends in Elder Law

The challenges of long-term care planning and the complicated nature of Medicaid continue to be among the most-frequent concerns of people we meet. These are the fastest-growing elements of an elder law practice... http://www.curtinlawoffice.com/elder-law.htm

Elder Law?

People sometimes ask about the fundamentals associated with the practice of elder law. Simply stated, when people become concerned about long term care planning for themselves as they age or for their aging parents, they often find solutions through the advice provided by an elder law firm. 


The issues may vary. Many fear losing all their assets to a nursing home,  and others need assistance with navigating through the complicated legal waters of Medicaid. 


Additional services may include:

• Protecting the at-home spouse’s assets and income
• Representation at elderly services and going to court for increased benefits for at-home spouse
• Long term care planning
• Addressing concerns about the high cost of nursing home care
• Reviewing long term care insurance plans
• Medicaid planning or assistance with the completion of the Medicaid application
• Helping loved ones stay at home with home care assistance and caregiver help
• Planning for disabled individuals

Elder Law... Key Questions

As noted in our previous post, when working with elders for estate planning purposes there are some areas where more detail is needed. To identify each eledrly client's key objectives, it is important to engage in a dialogue with the clients about their families, their work, their interests and hobbies.  Out of this discussion will emerge the client's major concerns and the goals for the estate planning process. 

Some areas that are typically top concerns for elderls may include:

·        Nursing home costs – do they have enough funds to pay for their care should they need it...

·        Planning for what would happen if they become incapacitated (who would help them, what are their wishes, etc.)

·        Where they want to live – do they want to stay in their home for as long as possible, or do they prefer to plan for an assisted living facility

·        How a healthy spouse would be protected financially if the other spouse needed to enter a nursing home facility

·        How to protect some assets for their children, no matter what their financial circumstances

Working With Elders...

In working with elderls for estate planing purposes, there are some areas where more detail is needed. For example, status and type of any long term care insurance, current and anticipated expenses, and exact sources of income.

But overall, the difference will be one of emphasis. 

In order to determine a client's goals, the first question that needs to be answered is, "What do the clients hope to achieve through estate planning?"

Family Care Givers, The Backbone of Long-term Care: Part 3

It is a myth that most of the elderly are cared for by nursing homes or health care institutions, In fact, 87% of those who need long term care receive that care from unpaid caregivers. That being the case, what can you do to make caregiving easier down the road? The key word is “plan.”

 

As noted in our previous two posts, first you must determine where to start, and then learn about estate planning. Finally, be sure to take care of yourself:

• Accept help
• Information is power; be proactive
• Consider your own needs, “put your oxygen mask on first”
• Join a support group
• Get respite, take time off for you

Family Care Givers, The Backbone of Long-term Care: Part 2

It is a myth that most of the elderly are cared for by nursing homes or health care institutions, In fact, 87% of those who need long term care receive that care from unpaid caregivers.  That being the case, what can you do to make caregiving easier down the road?

The key word is “plan.”

First, as noted in our previous post, you must determine where to start.  Next, learn about estate planning:

• Estate planning documents give the person you choose the power to appoint agents to make decisions when you cannot
• It can avoid guardianship
• It will help control what happens to your assets upon death
• It makes things easier for friends and family
• Even if you have documents, laws change and the documents should be reviewed to determine if any updates are needed; we typically recommend reviews at least every five (5) years

Family Care Givers, The Backbone of Long-term Care: Part 1

It is a myth that most of the elderly are cared for by nursing homes or health care institutions, In fact, 87% of those who need long term care receive that care from unpaid caregivers. That being the case, what can you do to make caregiving easier down the road?

The key word is “plan.”

First, determine where to start:

• Review bank and financial arrangements; Seek help from a financial advisor about how to maximize assets to pay for the care of a loved one
• Create a safe environment at home; safety checklists are available on www.aarp.com
• Look into benefits; i.e., social security, pension, disability and veterans
• Maintain medical records
• Consider care options available now and in the future, such as you home, someone else’s home, independent living retirement community, assisted living, nursing home, continuing care retirement community
• Determine how you will pay for the care
• Know that elder depression, although common, is not a part of growing old. Learn to recognize the signs of depression. Is the house dirty, where it once was clean? Are they neglecting chores that they once liked to do? Are they neglecting their own hygiene? Is the refrigerator and/or pantry stocked?
• Identify resources to help you (an elder law attorney can assist you with this)
• Decide on either estate planning or guardianship