Guardianships Can Apply to Anyone at Any Age

People often think about guardianships as applying to children, but they can apply to anyone at any age.  

For example, did you know that when your child turns eighteen (18) years of age, you no longer have the legal authority to make heath care and financial decisions for him or her unless your child appoints you to act for him or her? 

  

Do you know that the same is true for your spouse as well, and that if you do not have a document that allows your spouse to do so, your spouse cannot access your retirement accounts, or the cash in your life insurance policy, if needed? 

 

The legal documents that allow you to make decisions for someone else are called a health care power of attorney and a financial power of attorney.  These documents can significantly minimize stress for family and friends down the road. It is also important that these documents be drafted correctly. 

Were you also aware that in New Hampshire an agent under a financial power of attorney cannot make gifts unless the document specifically grants the agent the power to do so?  

An adequate gifting provision can be a very important tool with respect to long term care planning and the protection of the healthy spouse. If a person does not execute those documents prior to becoming incapacitated, or if the documents do not contain the correct language to allow for planning, a guardianship over that person becomes necessary. Guardianships can be stressful, time consuming and costly. For those reasons, we recommend that everyone 18 years or older execute these documents.

Legal Update on Healthcare Cost & Liability

Earlier this year, we updated you on a bill in the New Hampshire legislature that provided assisted living facilities and nursing home facilities with added legal rights to pursue recovery of costs of care rendered to a resident of such a facility.  

 

As we mentioned above, that bill is now law. Under the new law, causes of action by the facility include the following:

• if a fiduciary is negligent in filing and completing a timely application for Medicaid on the resident's behalf, the fiduciary shall be liable;
• if the fiduciary fails to pay the resident's cost share to the facility, the fiduciary shall be liable; or
• if the resident is not able to receive Medicaid assistance due to a transfer of the resident's assets within the five (5) year Medicaid look back period, the person who received the assets from the resident shall be liable at the Medicaid rate for services incurred during the asset transfer disqualification period.

New Care Givers - Part 4

We have been posting ideas for newer family care givers, with hopes of helping people more easily adapt to these life-changing situations.

 

Along those lines, you might find it helpful to take advantage of community resources such as Meals on Wheels and adult day care programs.

 

These resources are available so that you don't have to do everything yourself, and to give you a break.

 

You can also see if there are caregiver classes and workshops offered in your community your local Caregiver Resource Center or Area Agency on Aging. These education programs will help you feel more confident and make the time you spend caregiving easier for both you and your loved one.

New Care Givers - Part 3

Continuing with our caregiver theme, if you're just starting out as a family caregiver, it's hard to know where to begin.

In our previous post we identified two initial steps you might consider taking to get started in a positive and productive way. 

Another suggestion you might find helpful is to invite family and close friends to come together and discuss your loved one's care. If possible, your loved one should be included in the meeting.

When you convene, you might list the tasks that are needed so they can be more easily divided up. Let everyone discuss their concerns, as well as how much and what kind of help each person can offer.

As the primary caregiver, it's best for you to focus on accepting what assistance your friends and family are offering, even if it's not exactly what you had in mind.

New Care Givers - Part 2

As noted in our previous post, if you're just starting out as a family caregiver, it's hard to know where to begin. Here are two initial steps you might consider taking:

1. Start with a diagnosis.  If your loved-one is going through a noticeable personality change, has become more forgetful, or seems consistently out-of-sorts, take them to a physician.
2. Talk with your loved-one about their situation, health, financial circumstances and health-care wishes or expectations. If he or she is able to complete a Durable Power of Attorney for finances and healthcare, assist them in meeting with an elder law specialist to create these documents.

Are You a New Caregiver?

Recent statistics indicate almost one-quarter of American households provide care to relatives or friends age 50 or older.

If you're just starting out as a family caregiver, it's hard to know where to begin. Perhaps you've only recently realized that a loved one needs assistance, and is no longer as self-sufficient as he or she once was; or perhaps there has been a sudden change in a loved-one's health.

If so, it's time to consider and take certain action steps.

You might begin by taking stock of the people, services and information that will help you care for your loved one. The earlier you find support, the better.

 

We will share additional ideas for new caregivers over the next few posts.

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Fiduciary Defined

Sometimes people ask for a more clear definition of the term fiduciary, and we came upon this straightforward definition recently and thought we would share it with you.

A fiduciary is an individual, corporation or association holding assets for another party, often with the legal authority and duty to make decisions regarding financial matters on behalf of the other party.

It is usually best to consult your attorney or a trusted advisor if you feel you or your family could benefit by entering into a fiduciary relationship.