Estate planning can be daunting. Once you get past the fact that your very mortality (and morbidity) is the triggering event, estate planning means taking stock of all you own and, what is often more important, how you own it. Yes, there are many degrees of ownership and each can make for some difficult wrinkles. One common phenomenon is joint ownership between generations. Not only is it common, but it can make for some unintended problems. Forbes recently ran a piece on some of these problems and the five reasons to avoid such ownership form. Let’s review some of the…
Sometimes when people get into financial trouble, they look for an easy way out. Whether out of sheer desperation or an attempt at trickery, some resort to making what the law considers a fraudulent transfer. Fraudulent transfers have a tendency of coming back to bite you and several recent cases serve to demonstrate that fact, as in one of Lewis Saret’s recent posts on Forbes (and the much longer list in the Wealth Strategies Journal.) One case is that of re Quaid, (2011 WL 285645, Bkrtcy.M.D.Fla., Jan. 26, 2011,) where a Florida man sought to use a self-settled trust to…
Senior Life Care Planning’s Elder Care Coordinators are specialists who help family members find the right sources and services for their aging parents. Additionally, they provide care coordination and advocacy, be it home care, assisted living or nursing home facilities. We help family member’s cope with their burden. Let’s look at a hypothetical example to see how valuable Senior Life Care Planning’s care coordinators can be. Wife is providing extensive care for her housebound husband. Wife has difficulty getting her husband out of bed, bathed and dressed. Additionally, Wife relies on her son who lives nearby to help her manage…
As you grow older, your legal needs increase dramatically. You need to think about protecting your aging parents, your family, securing your assets for the future, and planning for your own future retirement and ongoing needs. With all these things to consider, you need a life care planning lawyer, not just an elder law attorney, who has the knowledge and experience to guide you through this confusing aging maze. With some basic tips, you can find an excellent life care planning lawyer that will give you peace of mind through sound advice. All life care or elder law attorneys are…
You may need Senior Life Care Planning for: Asset Protection Mediciad Planning Veterans Benefits Care Advocacy Limited or no family support. What services are available? Safely issues. Caregiver “burned out” or overwhelmed about care. Limited time and/or expertise. Family Arguments. Financial and/or legal issues. Dealing and/or Coping with dementia.
Most lawyers do not concentrate only elder care issues. Asking the right questions at a consultation can help you choose the right elder care attorney for your needs. What Elder Care Services Does The Firm Provide? Many law firms state they handle elder care cases. However, most firms do not have lawyers or staff who specifically work in the needs of the elderly. Therefore, ask about the firm's attorney and staff, what specifically do they do, Medicaid, Asset Protection, Life Care Planning, Care Advocacy, Veterans Benefits? The State of Maryland and the Federal Government has numerous laws affecting the elderly….
Whether you are caring for your loved one in the home, scrambling to make arrangements for nursing home care or trying to make sure nothing goes wrong in the nursing home, you know how difficult, time-consuming and isolating caregiving can be. Imagine what life would be like if you had a team of advisors helping you get the right care, preserve family resources and make difficult decisions. That’s what life is like when you have a Life Care Plan. A Life Care Plan helps you respond to every challenge created by the long-term illness or disability of your elderly loved…
To qualify for Medicaid, if you are single you can retain $2,500 in assets. For couples, the spouse can keep the home, one car, and about $109,000 in assets. The best protection from long-term care costs is long-term care insurance. LTCI does not just pay for the nursing home, but for home-care services, and may help pay some or all of an assisted living facility. If you cannot get long-term care insurance due to a medical decision, age or finances, the next best protection is an Irrevocable Medicaid Trust. However, this trust must be funded for at least five years…
Elder Care Attorney, David Wingate, of Senior Life Care Planning, will present a free workshop on “Life Care and Medicaid Planning,” at 10.00 am on March 15 th at Senior Life Care Planning’s Frederick office, and on March 16 th at Senior Life Care Planning’s Rockville office. This workshop is designed to help seniors and their loved ones learn about protecting hard-earned assets from the staggering costs associated with long-term care, whether for assisted living, nursing home, or in-home care. The laws have changed, and attendees will discover that good planning opportunities still exist for those who plan ahead, as…
If you caregiving for an aging parent,or loved one, we are often asked, when do I need help? Here are some indicators that you may need help: Personal Care for the Dementia Patient – bathing; grooming etc. becomes problematic; Dealing with Aggressive Behaviors; they’re being Physical or have Overwhelming Issues; Halucinating etc. Caregiving From a Distance; Financial – Do we have enough assets? Asset Protection; How can we Afford the Nursing Home? When Caring Takes Its Toll on YOU – You are yelling and screaming; burnt out; angry; frustrated; Depressed – not sleeping; feeling sad; guilt; discouraged; Moving an aging…
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