Caregiver Agreement & Alzheimer's Disease.
Gain multiple advantages by ‘hiring’ your children. Statistics reveal that approximately 70% of Alzheimer’s patients receive care at home. In these situations, that of course means relatives are doing a significant amount, if not all, of the work of attending to a patient’s needs. A Caregiver Agreement, also called a Personal Services Contract, is a […]
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It's Not Too Late to Plan an Elder Law Strategy
Planning late is better than never planning. The most obvious yet overlooked Elder Law strategy is simply to be proactive. But most people don’t plan, and as a result suffer severe financial consequences. Asset-preserving steps can even be taken after you’re already in a nursing home. So it’s never too late to plan, and to […]
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Recertification is Essential to Maintain Medicaid Benefits for Alzheimer's & Dementia Patients
Get professional recertification. Once you’re eligible for Medicaid, you’ll have to go through a process of “recertification” every year, to qualify you to continue receiving benefits. Some people who initially get Medicaid with the help of an Elder Law firm, make the mistake of attempting to recertify themselves, and end up being denied any additional […]
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Should I be concerned about avoiding probate?
Avoiding probate is probably not the most important concern for seniors, but it is nevertheless a worthwhile goal and is generally easily achievable. Probate is a court proceeding. It can be frustrating, expensive and subject to delays of all kinds. Also, probate sometimes results in a prolonged dispute among disgruntled family members or others, which […]
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I don’t want to spend money on long-term care insurance – is there anything I can do?
You are not alone. Most seniors cannot afford, and might not qualify anyway, for long-term care insurance. Those who purchased a policy often find that the benefits are insufficient. The best alternative is to consult with an Elder Law attorney about creating a plan to become eligible for Medicaid benefits, and to protect your assets […]
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At what age should I start planning for my long-term care?
There are no hard and fast guidelines – because it depends on the state of your health as well as your age. The most important thing is to inform yourself about the risks you face and the options and solutions available to you. When you are in your 60’s, it is certainly a good time […]
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Doesn’t everyone over 65 get Medicare for free, and doesn’t Medicare cover my health care needs?
You qualify for Medicare benefits at age 65 or older if you are a U.S. citizen or are a permanent legal resident, and you or your spouse has worked long enough (usually 10 years or more) to be eligible for Social Security retirement benefits. Your payroll deductions cover Part A (hospital), but you must pay […]
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Advance Directives: Power of Attorney & Health Care Proxy
Whoever you are, and whatever your plan for the future, advance directives are extremely important. If your mental capacity were to decline, who would handle your financial affairs, and who would direct your medical care if you were unable to act for yourself? There are two key documents you can put in place that will […]
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Annuities
Many seniors invest in fixed or variable annuities, because they often provide a better investment return than savings accounts or CD’s, and unlike bonds, are not subject to changes in value. However, annuities usually turn out to have been an imprudent investment if Medicaid planning is needed. Since the cash value of these annuities is […]
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Transfers of Real Estate
For many clients, their home is their most valuable asset, and the one they are most anxious to protect. Sometimes these clients have heard “don’t worry, the home is exempt.” In fact, such statements are very misleading. When applying for Medicaid home care, your primary residence is not a “countable resource” if your equity in […]
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