Common Strategies to Protect the Home from Medicaid Recovery
May 14, 2018 | by the National Care Planning Council
In a previous article we addressed the state Medicaid recovery programs and how they typically go after the only remaining asset which is the home. In this article we will discuss some of the strategies that can be used to protect the home from Medicaid estate recovery. There are a number of strategies that can be used. In those states that go after probate property only, anything that keeps the house out of probate will suffice. In other states, some common strategies include the use of irrevocable trusts or transfers before death. ...... Read More
Will Medicaid Take Away Your Home?
May 9, 2018 | by the National Care Planning Council
Description of Medicaid Estate Recovery
Federal law allows states to recover money spent on behalf of the Medicaid beneficiary after that beneficiary's death. Recovery concentrates on what Medicaid considers an "estate." For most purposes, the only estate asset remaining at death is the personal residence.
Each state approaches recovery differently. In some states, recovery is only executed if the personal residence shows up in probate court. In these states -- there are only 13 of them left -- a simple family living trust would lik ...... Read More
The Value of Life Insurance for the Final Years
April 17, 2018 | by the National Care Planning Council
Life insurance for the final years of life is generally a good thing. A death benefit can be a very valuable resource for a surviving spouse. When one member of a couple dies, one of the social securities disappears -- the smaller of the two. This leaves the survivor with less income. Sometimes, pension plans also stop paying when the person receiving the pension dies. Life insurance will help cover that deficit in income.
Beneficiaries never complain about too much life insurance. The biggest challenge with having life insuranc ...... Read More
Understanding Powers of Attorney
March 13, 2018 | by the National Care Planning Council
A power of attorney is a legal instrument which grants unto another person -- the agent -- the authority to act as a legal representative and to make binding legal decisions, medical treatment decisions and financial decisions on behalf of the person granting the power. It should be noted that a power of attorney is limited in its scope to the powers granted within the document. A power of attorney can have very limited scope and only give the agent the authority to conduct a one-time action. Or a power of attorney can have wider s ...... Read More
Elder Law and Estate Planning Advice
February 13, 2018 | by the National Care Planning Council
Many aging seniors rely entirely on family or other trusted individuals to help them. Whether it is physiological or psychological, as people grow older, they tend to grow more childlike. The dependence upon caregivers or family members makes an older person more vulnerable for abuse and financial exploitation. Legal arrangements and protective actions by family may be necessary to shield loved ones from abuse.
Making legal decisions about property, finances, power of attorney, and last rights are important tasks to complete ...... Read More
Why should I use an Elder Law Attorney?
January 5, 2018 | by the National Care Planning Council
As the population of our country ages, more people will need help with legal or planning issues unique to aging seniors. This might include help with veterans' pension benefits, Medicaid, and estate planning (wills, trusts, powers of attorney, HIPAA authorizations, living wills and visitation directives). Other needs might include long term care and disability planning, solving disputes with family through mediation, guardianship and fiduciary administration, or confronting elder abuse.
Elder Law attorneys represent a growi ...... Read More
The Portion of Our Lifetime Where the Final Years Are in Sight
November 24, 2018 | by the National Care Planning Council
This article uses the term "aging seniors" and "final years of life" frequently. For our purposes, an aging senior is someone who is facing his or her remaining years of life. Perhaps because of frailty or poor health or simply advanced age, this person is anticipating the end-of-life. An aging senior is no longer climbing the hill of life but has reached the pinnacle and is looking down the other side.
The terms aging senior and final years of life are significant to the type of planning and preparation one will do. When plan ...... Read More
Attitudes towards Aging often Affect Health
October 27, 2017 | by the National Care Planning Council
Among the myriad of wonderful ideas available to caregivers for coping with the care of a loved one, some strategies that can influence the attitude of care recipients are often neglected. On strategy, simply put, is cultivating a more positive attitude towards aging. This can have a profound effect on the health of a care recipient.
Many elderly buy into the notion that they themselves are no longer useful and are a burden to others. As a result, the aging make little attempt to keep themselves healthy and active. After all, ...... Read More
How Does Guardianship Help an Aging Senior?
September 29, 2019 | by the National Care Planning Council
A guardian is an agency or person legally appointed to manage the affairs of an individual who lacks the capacity to make responsible decisions concerning his or her personal matters. The primary requirement for determining the need for a guardian focuses on the individual’s inability to make and communicate reasonable decisions. Eccentric behavior, disabilities and diagnosis alone generally do not warrant the appointment of a guardian. State laws vary regarding the specific details governing the definition of incapacitated pe ...... Read More
Plan for Long Term Care Before You Need It
August 18, 2017 | by the National Care Planning Council
Long Term Care Planning is the process of preparing for and funding long term care.
Long Term Care refers to a wide-range of medical, personal and social services for individuals who are unable to provide for their own needs for an extended period of time. This need for care from others may be caused by age, accident, illness, dementia, stroke, depression or frailty.
Personal needs may include assistance with activities of daily living to help move about, dress, bathe, eat, maintain hygiene, toilet, or help with incidental d ...... Read More
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