Elder Law Today Podcast Show #18 Continuing Care Retirement Communities
June 3, 2009
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Continuing care retirement communities can be a great option for many people.
I can move into one community that can meet all my needs, from independent
housing to assisted living to nursing home care as I need it.
In Show 18 of his monthly elder law podcast, Yale Hauptman, a practicing
elder law attorney, provides an overview of CCRCs, the pros and cons.
So often, he sees people enter into these financial arrangements without
closely examining the 40+ page contract that typically the resident
must sign. The contracts often require a large upfront financial
commitment. What will the CCRC agreement cover? What won’t
it cover? What happens if you run out of money? What if
the facility runs out of money?
If you are considering a CCRC for yourself or a loved one you’ll definitely want to tune in first
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Elder Law Podcast Show #17 Why Do I Need a Will
May 6, 2009
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The law allows every person to distribute property according to their wishes by a written instrument known as a Last Will. However, many people never execute one and miss that opportunity, the consequences of which can be devastating to loved ones.
In Show 17 of his monthly elder law podcast, Yale Hauptman, a practicing elder law attorney, discusses what can go wrong without a will. Each state has a set of laws that predetermines how assets will pass where there is no will, known as intestacy. That may not, however, be what you want. For example, assets may be left outright to heirs who shouldn’t or can’t handle the money or may end up in the wrong people’s hands.
Yale also discusses the difficult issues involved in second marriages where each spouse has different heirs who they wish to leave their estate. Without proper planning that won’t happen. Ownership of real estate in another state can also present a problem without planning. The bottom line is that without a carefully drawn plan your intentions and desire may not be carried out.
Tune in to learn what you need to do to safeguard yourself and your loved ones.
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Elder Law Today Show #16 Mom is Not Capable of Handling Her Affairs – When is a Guardianship Appropriate
April 3, 2009
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Mom is unable to handle her affairs and either can’t or won’t accept assistance from other family members. Or maybe one child lives close by and is taking advantage of mom and other family members, who live a distance away, are frustrated in their attempts to protect mom. Is guardianship a solution?
In Show 16 of his monthly elder law podcast, Yale Hauptman, a practicing elder law
attorney discusses when a guardianship is possible and when it isn’t. Does Mom need to be declared incompetent? How does that happen and what is the standard? Yale also discuss what options are available
when a guardianship isn’t possible, such as a conservatorship.
If your family is grappling with these issues or you know someone else who is, then you’llwant to tune in to learn more.
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Elder Law Today Podcast Show #15 – You Have Spent Down all Your Money and Still Can Not Get Medicaid How Could This Happen?
March 5, 2009
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You’ve spent down the remaining assets on Mom’s care and have no more money left. You apply for Medicaid but are told, “Sorry, Mom is not eligible for another 8 months.” How could this happen? What can you do to avoid this horrific outcome?
In Show 15 of his monthly Elder Law Today Podcast, practicing elder law attorney, Yale Hauptman, explains why spending down assets may not be as simple as you think. Medicaid rules are complex and it is easy to get tripped up. Well meaning citizens can unwittingly cause themselves to lose these essential benefits by creating transfers that are subject to a Medicaid transfer penalty.
Learn the danger of paying home health aides cash and why that could result in long penalty periods. Discover why gifts made 4+ years before Medicaid is applied for can come back to haunt you. More importantly, learn how you can avoid these Medicaid traps and how to correct the mistakes you’ve already made. If you wait till you apply it’s too late.
This episode is for anyone who cannot afford the cost of long term care indefinitely and may need to apply for government benefits at some time in the future.
Important information that you’ll want to listen to carefully.
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Elder Law Today Podast Show #14 Married Couple – Crisis Long Term Care Planning
February 5, 2009
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So after listening to Show 13 you’re thinking, we should have taken action immediately after Dad’s diagnosis but didn’t so now what do we do? In the 14th installment of his audio podcast, Yale Hauptman discusses just that scenario, crisis planning. Although the picture is more complicated all hope is not lost. Yale discusses some of the options still available to families, but timing is a key.
Yale explains how the home as an exempt asset under Medicaid rules can be used to help the healthy spouse preserve more than the maximum otherwise allowable under Medicaid rules. That could include buying a bigger house or making improvements on a current home. Learn why a reverse mortgage now is replacing a home equity loan or line of credit as the only option in crisis planning for many families. Yale also discusses ways to pay down debt that benefits the healthy spouse and other ways to help preserve hard earned money for the community spouse, who just won’t be left with much under current Medicaid rules without creative planning.
Be sure to tune in for a concise 10 minute discussion of Medicaid crisis planning that will give you an overview of what still is possible, even if you have failed to early action, but time is running out.
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Elder Law Today Podcast Show #13 Married Couple – Early Action Long Term Care Planning
January 14, 2009
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In the first show of
Season 2 of his Elder Law Today Podcast, by listener request, Yale
Hauptman has modified the format and shortened the length of his
audio podcast. In a concise 10 minutes, Yale presents a common
scenario that many families today are faced with. Dad has just
recently been diagnosed with early stages of Alzheimer’s
Disease (you can substitute any other long term care illness because
the issues remain the same). What lies next for Mom and Dad? What
should the family be doing and when?
Yale runs through the
planning strategies that ought to be employed to insure the best care
possible for Dad, preferably at home rather than in a nursing home,
and also to protect Mom so that all their hard earned savings are not
spent on Dad’s long term care, leaving Mom with very little to
live on.
Yale provides an
overview of the long term care system, the benefit of setting aside
assets in trust and the various government benefits, including VA and
Medicaid, that may be able to play a role in Mom and Dad’s
journey through the long term care system. Learn why it is so
important to take these steps as soon as possible and why inaction
can be so costly.
Episode 13 is a can’t miss listen for families who are unsure what to do and where to
start.
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Elder Law Today Podcast Show #12 The Talk – How to Communicate with your Parents about Aging and Long Term Care
December 4, 2008
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In show number 12 Yale Hauptman, a practicing elder law attorney sits down with Barbara Salvador of Nannymama.com and Barbara Friesner of Agewiseliving.com, a generational coach and author of ‘The Ultimate Caregiver’s
Guide’ to discuss how to have ‘the talk’ with aging parents.
Generational differences and lack of communication pose some real challenges to children who are trying to help care for their parents. So many families never discuss long term care and finances until a crisis hits and that’s just too late. If you find yourself in the
situation of not knowing what plans your parents have in place, what their wishes are with respect to long term care, or where all their
important legal documents are and you have no idea how to start the conversation – this is a must listen.
As with any interpersonal relationship, communication is paramount. How we say things is as important as the content itself. Yale and his guests discuss the best way to break the ice and the dos and don’ts of approaching a very difficult topic in a way that is sensitive to the fears and concerns of aging family members, intending to bring families together, instead of pulling them apart.
This 12thshow contains valuable information that every family will find helpful in dealing with some of the most challenging issues we all face today.
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Elder Law Today Podcast Show #11 The Current Economic Crisis. What Does it Mean for Medicaid and Long Term Care
November 7, 2008
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Much has happened in both the economic and political arenas since the last show, including the steep drop in the stock markets and the election of President Obama and changing of power in Congress from Republican to Democrat. In show number 11 of his podcast, Elder Law Today, practicing elder law attorney, Yale Hauptman discusses how this all will affect the average American who needs long term care.
Some of these changes have already begun to occur. Yale explains how rising unemployment, the government bailout of failing financial companies and the drop in stock markets and thereby, people’s savings, have all combined to create a ‘perfect storm’ of conditions that will cause State Medicaid offices to delay and deny a greater number of Medicaid applications for long term care.
He discusses some of the scenarios in his office where this is already happening. Take the case of the daughter who took cash out for Mom over the years but didn’t keep good records as to how it was spent or the son who paid for Mom and Dad’s care at home out of his own funds when they had none left and now wants to be reimbursed from the sale of their home when they enter a nursing home. In both cases Medicaid has scrutinized these transactions and delayed approval.
We are now almost 3 years removed from the last round of changes to the Medicaid laws instituted under the Deficit Reduction Act (DRA). Learn why this law will have even more impact on the ability to qualify for government benefits as we go forward.
This 11th show is one you can’t afford to miss, with information and ideas that you need to act on now to be sure to protect yourself and
your loved ones going forward. Be sure to tune in.
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Elder Law Today Show #10 The Ins and Outs of FDIC Insurance
October 1, 2008
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In show number 10 of his podcast, Elder Law Today, practicing elder law attorney, Yale Hauptman interviews Anthony Aiello, a compliance officer at Commerce TD Bank on the hot topic of FDIC insurance. For many Americans, the collapse of financial giants such as Lehman Brothers, AIG, Merrill Lynch and Wachovia reminds them of other troubled economic times. Many seniors grew up during the Great Depression of the 1930′s and remember the Savings and Loan scandal of the late 1970′s and early 1980′s. The FDIC insurance program was instituted in the 1933 to protect depositors who lost money when their banks went under. Many Americans are now concerned once again about whether their assets are protected.
Yale and Anthony discuss the basics of how this insurance coverage works. Learn about the ways to stretch the amount of insurance coverage well beyond the $100,000 limit which most people assume, erroneously, is the maximum. There are different categories of accounts, which are treated separately for insurance purposes. For example, coverage for IRA and other retirement accounts is now $250,000 per person.
In his “In the News” segment, Yale discusses a recent government inquiry into accusations that a company which owns assisted living facilities in 20 states is kicking out residents once they have run out of money and apply for Medicaid. He also discusses a recent court case which highlights the pitfalls of having a joint owner on a bank account who then applies for Medicaid. In that New Jersey case, the judge sided with the applicant but learn why the fight may not yet be over. Finally, Yale talks about a new federal law effective October 1, 2008, intended to protect Americans from abusive practices in the sale of reverse mortgages to seniors.
This 10th show is timely and informative in light of the current turbulent economic times. Be sure to tune in.
Click here to listen to the show
Visit the FDIC website for more information.
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Elder Law Today Podcast Show #9 Planning Needs of Elderly Parent with Disabled Adult Child
September 1, 2008
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In show number 9 of his podcast, Elder Law Today, practicing elder law attorney, Yale Hauptman welcomes as his guest Lauren J. Siegel, a registered nurse and certified life care planner. Lauren explains how she is typically brought into lawsuits brought by parents of disabled minor children and asked to devise a plan of care covering the various needs that the child may have over his/her life.
Yale and Lauren then discuss how this same planning is just as important to elderly parents of adult disabled children. Parents must address care issues for those children after they pass away and how to fund it. Yale points out that any assets intended to fund that care must be properly set aside while the parent is healthy or risk being spent down entirely for the parent’s long term care needs, leaving
nothing for the child’s needs. Lauren offers some suggestions for parents to consider.
Yale also introduces a new “In the News” segment. He discusses a recent Pennsylvania court case that highlights the need to be specific in a power of attorney as to what gifting powers are given to an agent. He also discusses a recent Connecticut case in which a child was held responsible financially to pay mom’s nursing bill when he failed to immediately provide all information and documents necessary to complete her application for Medicaid benefits. Yale also updates listeners on a bill introduced in Congress to extend the federal estate exemption amount to $3,500,000 for 2010 and beyond and highlights the continuing trend by employers to provide services to their employees who are caring for elderly parents and loved ones.
This 9th show is packed with important information that anyone who is elderly
or caring for, or concerned about, an elderly loved one, won’t
want to miss.
Visit Lauren’s LJS Healthcare website
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