May is National Elder Law Month - Trusts & Estates and Elder Law Newsletter
By: Jacqueline Yarmo
Spring is upon us, bringing with it National Elder Law Month, the perfect opportunity to discuss what makes Elder Law unique and to dispel misunderstandings about this important area of the law.
- MYTH: Elder Law doesn’t pertain to me because I’m not an Elder. Elder Law impacts not only seniors, but their families as well as people with disabilities. Elder Law brings together planning, counseling, education, and advocating in many areas, including but not limited to:
- Estate planning;
- Long Term Care planning;
- Asset protection planning;
- Applying for Medicaid (and other needs based benefits), Social Security (including retirement benefits, disability benefits, survivor benefits, and Social Security Disability), and, sometimes, appeals;
- Guardianship and conservatorship court applications and related issues;
- Probate and Estate Administration;
- Elder abuse and financial exploitation and related litigation;
- Nursing Home issues, including patients’ rights and quality of care;
- Disability planning; and much more.
- MYTH: Only wealthy people need Estate Planning. Everyone benefits from a thoughtful and comprehensive estate plan. Your Will is an important document that directs more than just who gets what. Through your Will, by way of example and not limitation, you will decide who manages your Estate, including who can access your online or social media accounts, who will care for your children, and whether you leave directions for your funeral or the disposition of your remains. Having a Will can avoid family conflict, can speed up the probate process, and it documents your wishes so no one gets to decide these things for you after you are gone.
Estate plans also include documents to direct who will manage your affairs during your life if you are ever in an accident or unable to make these decisions for any reason. Being prepared with a Power of Attorney and Health Care Proxy Directive allows you to determine who steps in your shoes to make financial or medical decisions when you cannot. Careful estate planning provides the security of knowing that you have done everything possible to avoid complications or delays if a serious crisis should occur, and everyone deserves this piece of mind, not just the wealthy or elderly.
- MYTH: Medicare will pay for long-term care. Medicare is a federal health insurance program for people aged 65 or older (or individuals qualified to receive Social Security Disability benefits, two years after approval), which covers only short-term health care, such as hospital care, doctor visits, and short-term rehabilitation. Medicare does NOT pay for long-term care. An Elder Law attorney can help you or your aging parent develop asset protection and long-term care planning strategies, which may include creating a family trust or making an application for Medicaid or other needs-based benefits.
Medicaid is a joint federal and state program that provides health coverage for some people with limited income and resources and does pay for long term care costs. Medicaid long-term care coverage requires meeting certain clinical and financial requirements and can provide payment toward home care or care in an assisted living facility or nursing home to single or married individuals.
- MYTH: Guardianship always takes advantage of the elderly and should be avoided. While it is true that the elderly can be victims of fraud and financial exploitation, most guardianships are lawful, court-sanctioned appointments used to assist a person who lacks the capacity to manage their personal and financial affairs. Often a guardianship application is made when a person lacks capacity but has not prepared the proper documents, such as Power of Attorney or a Health Care Proxy Directive, which would have named someone they wish to act on their behalf, highlighting again the importance of estate planning. Elder Law attorneys also provide an important due process protection for people facing guardianship, investigating, and reporting to the court on the alleged incapacitated person’s circumstances to ensure that the person needs such an appointment and that the person appointed is trustworthy and qualified.
Elder Law attorneys understand the emotional complexities involved in assisting with long-term care or end-of-life issues, including the unique family dynamics that can make certain circumstances challenging. Elder law attorneys take a holistic approach, and evaluate the social, medical, and financial circumstances an individual faces to help inform their work, often collaborating with geriatric care managers, social workers, discharge planners, financial advisors, tax consultants, and others.
Our Elder Law attorneys at Pashman Stein Walder Hayden P.C. are available to assist you in creating a long-term care plan that allows you or your loved one to maintain the quality of life that reflects the dignity and appreciation we all deserve.
Learn more about our Trust & Estates and Elder Law & Special Needs Planning Practices.
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The information contained herein is for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. Use of and access to these materials do not create an attorney-client relationship between Pashman Stein Walder Hayden P.C. and/or its attorneys, and the reader of the materials.