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Senior Specialties - Online: Elder Law

   Moderated by Advantage Plus CaregiversVanessa Terizan

Elder law denotes the law, regulations, and prevailing good legal practices applicable to a range of issues affecting individuals aged 65 and over. The subject matter of elder law arises from careful legal analysis of the concerns of elders and their caregivers as to planning for foreseeable circumstances (e.g., property or capacity) and dealing with harmful situations (e.g., abuse or neglect).

Elder Law encompasses a wide variety of regulations designed to help protect the elderly. Elder Law is a composition of legislation's that determine the rights and obligations that apply to those who are considered elderly. While some of these laws are specific to Elder Law, many of them can be found in other practices. Elder Law has been established as an official branch of law due to the burgeoning population of senior citizens. The determinants for what classifies a citizen as an elder are specific to each Elder Law.

Frequently Asked Questions

Do I really need an Elder Law Attorney?

Planning for the furture can be problematic without the correct information.  Without the correct information simple situations can turn out into complicated and expense situations.   That is where an Elder Law attorney comes in.

Can I give away my assets to a loved one when my health is failing?

Transferring your assets may not be a good idea if you may soon need health care assistance. Why? Because Medicaid rules have gotten stricter in recent years – and, in keeping all your options open, you don’t want to jeopardize your eligibility to receive it.

Even if you never planned to qualify for Medicaid – federal financial assistance for people with very few assets – with the boom of graying baby boomers, Medicaid has quickly become a major source of payment for long-term care expenses: It currently covers roughly half of all nursing home residents in the country ... once the high cost of care wipes out their assets. Planning ahead with a good Elder Law attorney can help prevent losing the assets you were saving for your loved ones.

What is the Maidcare "Look-Back period"?

Transferring your assets may not be a good idea if you may soon need health care assistance. Why? Because Medicaid rules have gotten stricter in recent years – and, in keeping all your options open, you don’t want to jeopardize your eligibility to receive it.

Even if you never planned to qualify for Medicaid – federal financial assistance for people with very few assets – with the boom of graying baby boomers, Medicaid has quickly become a major source of payment for long-term care expenses: It currently covers roughly half of all nursing home residents in the country ... once the high cost of care wipes out their assets. Planning ahead with the help of Kearns & Kearns can help prevent losing the assets you were saving for your loved ones.

Should I have a durable health care power of attorney and a living will?

By all means, you should have a durable health care power of attorney and a living will also know as an Advance Directive or Polst. Wills, trusts and durable property powers of attorney generally address only financial concerns. A health care power of attorney authorizes another individual to make medical/health care decisions on your behalf when you are unable to make those decisions yourself. A Living Will, Advance Directive or Polst, generally sets forth your choices as to end of life care and treatment.

What should be included in a durable power of attorney?

In most situations your agent (the person or persons to whom you grant the power to act on your behalf) should have expansive powers to properly handle your particular financial matters. One such power may be to permit your agent to make gifts in excess of the annual exclusion amount of $12,000. This is especially important in those limited situations where gifting becomes part of an overall planning strategy to achieve eligibility for Medicaid.

Group Feed
Ellen Makenna joined the group Senior Specialties: Elder Law.
Posted Monday, January 21, 2013
Richard Weatherman joined the group Senior Specialist Group: Elder Law.
Posted Thursday, January 17, 2013

Recently Updated Profiles
Richard Weatherman, Sara Polinsky

 

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