It is essential that as your parents’ age, you have conversations with them about their finances. The conversation should come from a calming place of love and concern. To broach the topic, you might bring up current events like the coronavirus pandemic, its effect on economic conditions, and how it relates to the security of their financial future. Speak to them respectfully about how the coronavirus pandemic has you thinking about the importance of their planning and preparedness.

Once you begin the conversation, move away from the pandemic as your introductory technique as you do not want to create a sense of panic or fear.  Instead, delve into legal and financial reviews, processes, and parameters. US News reports that your parents’ financial analysis should include essential legal documents, financial accounts, and associated vital contacts, long-term care decisions, and claims. If you live apart, lay the groundwork to help them with their finances remotely.

It is generally most comfortable to begin your conversation with legal documents that hopefully your parents already have in place like a will, trust, living will, and a health care proxy. If your parents do not have these documents, they must retain an attorney and create the ones that best suit their needs. If you need to help your parents manage their finances, you must have a durable power of attorney. A durable power of attorney allows you to make financial decisions for your parents in the event they become incapacitated. This is an essential estate planning document. In the absence of a durable power of attorney, the courts become involved, and solving health or financial issues becomes a lengthy, expensive process over which you have little control. If your parents already have their legal documents drawn up, find out where they keep them and review them carefully. If any documents need to be amended, suggest that your parents meet with an attorney to make the relevant changes. Be sure their documents reflect the state law in which they reside.

Once you have assessed your parents’ legal documents, it is time for some financial discovery. Even if your parents do not currently need help, having an overview of their finances and a durable power of attorney to help them in the future is crucial to their aging success. Begin by listing all of their accounts, account numbers, usernames, and passwords as well as employee contact names. Include insurance policies, the agent’s name, and where the policy is, as well as how they pay their premiums. Include any online medical accounts or list their doctors’ names and office numbers. The idea is to create a comprehensive list of all of these accounts. Gather your parents’ Medicare and Social Security numbers and their drivers’ license numbers. Know where they keep this information so that in the future you will know where to look. Also, learn about any online bill paying or automated, re-occurring activity. These usually include monthly bills like electricity, natural gas, water, etc. but may also include quarterly payments or annual subscriptions.

If your parents still live in their long-time home, discuss if it is viable that they live out their days there, or if downsizing to a retirement community or moving closer to where you live appeals to them. Help them come to a decision that is best for their set of circumstances.  If they do not have long-term care insurance or some other mechanism to aid them in times of need, talk about the topic, and try to come up with a solution. If they do have long-term care, be sure you have a copy of the policy, contact information, and the name of the insurer and agent. Review the requirements for receiving benefits so you can help them when they need to file a claim as most policies have a waiting period of 30 to 90 days before benefits begin. Know what to expect.

Digital technology has made oversight of parents and their finances easier than ever as long as you have a durable power of attorney and access to their account information. If they do not yet pay their bills online, or use auto payment, help them set up this option for their monthly bills. Remind them you will provide oversight to ensure proper billing. Offer to help them with their annual tax filings. Your help relieves some pressure on them and provides you with information about the goings-on in your parents’ accounts. For your parents’ peace of mind, you can establish a monthly video chat to let them know their bill payments are progressing normally. Your involvement will allow you to identify any abnormalities in account activity, which may indicate scam attempts.

Having these financial and planning conversations with your parents today can help them live more securely and with less stress as they age. Most parents will try to avoid these discussions with their children because they may not be adequately prepared for what can lie ahead. Conversations that focus on proper legal documents and gathering financial account information will give you the data you need to help protect your parents.

We would be happy to help you and your parents with critical planning documents. We are open and taking new clients, and we hope to talk with you soon about your particular needs.

The post How to talk about Estate Planning and Finances with Aging Loved Ones appeared first on Faloni Law Group.

Continuing care retirement communities (CCRC) are gaining in popularity across the United States. Sometimes referred to as life plan communities, the goal is to provide a long-term care option for older residents. These residents prefer to live in the same community, though in different phase locations, during their aging process. In essence, it is a continuum of care that will see you through your pre-planned stages of older life.

The selection process of this community type can be challenging as there are nearly 2,000 CCRCs throughout the country, and each offers different kinds of housing and levels of care, for a price. Most residents will begin CCRC living independently in an apartment or single-story home. As health situations present themselves, the resident will transition to assisted living and, ultimately, to a skilled nursing level. The phases of community living are among the most significant benefits of a CCRC as it provides familiarity and the stability of a wide range of activities, services, and care in one place.

The federal government provides an online public service through the US Administration on Aging known as Eldercare Locator that connects you to services for older adults and their families regarding CCRCs and much more. The service is also available via telephone at (800) 677-1116. LeadingAge is a member group association for non-profit eldercare that provides and maintains an aging services directory where you can plug in a zip code and search for local retirement communities. Caring.com and seniorliving.org also have referral search options to locate a nearby CCRC.

According to AARP , nearly two-thirds of CCRCs will charge an entry fee to join their community. The average initial payment ranges from $239,000 to over one million dollars in some communities. After an initial entry fee, residents will pay a monthly fee, typically running between two to four thousand dollars. Before putting money down, there are questions to ask. LeadingAge suggests these following questions:

If you locate a community you like, then it is time to ask more detailed questions. Is the CCRC nearby to a hospital? How far away are your medical doctors from the community? How convenient are amenities such as public transit, grocery stores, dry cleaners, and other services?

Check on the credentials of the staff at the CCRC. Is their interaction with you professional? Do they seem willing and eager to help? How available are the administrators of the community? Is their office open throughout the day to deal with issues that may arise?

What are the floor plans and options of available housing? Are residences equipped with dishwashers, washer and dryer, and microwaves? Are homes equipped with grip bars and nonslip floors? Are common areas and green spaces well maintained? Do the assisted living and nursing facilities offer private rooms with baths? What are the locations of emergency exits, sprinklers, and other security features that are in place?

Talk to the people currently living in the community and get their insights as to the value and livability of the CCRC. Ask about meals; in particular, are special diets accommodated? What are the personal services available such as housekeeping, laundry, and hair salons? Is there any transportation service?  What are the costs associated with these services? Check on recreation and social activities too. What events are regularly available? Are their clubs and common area for residents? What is the availability of an exercise facility and fitness classes? Are there opportunities for worship?

Regarding health care services, check what is available to you at each level of care. What is included in the entrance and monthly fees? Does the CCRC have specialized dementia care areas or other specific health condition areas? Is there a pharmacy on-site? Are all prescription drugs handled by qualified staff, and do they monitor the medication?

Once you have chosen a community, review the contract very carefully. A CCRC offers three basic contracts:

Some CCRCs even offer a rental contract known as Type D and a Type E equity agreement where you purchase a share of your unit instead of an entry fee. No matter what contract type you select, all CCRC contracts are notoriously complex, so it is imperative to retain an attorney to review the specifics to protect your finances and future residency.

There is a lot to consider when joining a continuing care retirement community. Share your expectations and thoughts with family and loved ones and ask for their help. Do extensive research on several potential communities before finalizing your decision. Ask a lot of questions when you visit each community. Carefully review any CCRC contracts or agreements before you sign them. A CCRC can be an enjoyable living experience when you find the one that meets your criteria and needs.

If you have questions or need help reviewing a contract or agreement with any type of facility, we would be happy to help. We can also discuss a plan for how to pay for care on a long term basis and how to protect your savings from being depleted.

The post Finding a Continuing Care Retirement Community appeared first on Faloni Law Group.

Mistakes can be made when it comes to inheritances and Medicaid. Those mistakes can be costly. When a person is drawing Medicaid benefits and inherits money or property, that inheritance jeopardizes the benefits. The inheritance must be handled carefully to minimize expensive penalties. What “careful” means, though, can be misunderstood without the necessary expertise.

The first and best idea is to call experienced elder law attorneys like us. (An even better idea is to call us well before any inheritance becomes a “problem.” The sooner you call us, the more money we can likely protect for you.)

An Ohio attorney was recently suspended partly because he mishandled this Medicaid-inheritance issue. The mistaken advice was that to protect the benefits, the person who stood to inherit should “disclaim” or “renounce” the inheritance – in other words, give it away to someone else.

That advice would have been OK in the tax context. It was not OK in the Medicaid context. The Medicaid rules count inheritances regardless whether the recipient keeps them or passes them on to someone else. The bad result, in such cases, is that the person receiving Medicaid would be charged just as if he or she had taken the money, even if he or she gave it away, and the person’s benefits would be docked accordingly. This can be a very expensive misstep.

The better result would be to consult us immediately. We can advise you on necessary  techniques to split the inheritance between the recipient and somebody else, like a child. If the right strategies are used, Medicaid would count the inheritance to an extent, but not as much as it would have if the recipient had simply given away the whole sum.

An even better result would be if the person leaving the inheritance had consulted us first. We know how to structure that person’s financial arrangements, to protect the people to whom the person wants to leave his or her legacy.

Elder law is a law unto itself. We know that complicated area of the law well and we have helped many people successfully meet the challenges it poses. Call on us.

The post Can Medicaid Benefits Affect My Family’s Inheritance? appeared first on Faloni Law Group.

I read that when making a will, I could leave my property to my children “per stripes.” Why is the law talking about us like we’re some kind of zebra
?

The phrase is Latin and it is “per stirpes,” not “per stripes.” Some bits of property law are extremely ancient in origin and this is one of them.

Most people want their property to pass to their children, but they don’t consider a situation few of us care to think about. What should happen to our property if our children die before us?

If a child has died before the parent who leaves property through a will or trust, and that deceased child has passed without leaving any children, many would say that the property should be divided among the remaining children. That situation is pretty straightforward. Suppose that you had three children, and your will said to distribute the property to your children in equal shares “per stirpes.” Then one of your children died without children of their own. The “per stirpes” designation in your will would mean that your surviving children would split your property in two equal shares.

The complication comes, though, when one child has died leaving his or her own children. Let’s call those children “grandchildren.” Would you, as the parent leaving property, want those “grandchildren” to split the share you had intended for your now-deceased child?

That would be the simplest solution and that is what “per stirpes” would do. If you had three children, and one died leaving two “grandchildren,” your will would direct that your two surviving children would get one-third each, and the surviving “grandchildren” would get one-sixth each. That is distribution “per stirpes.” The phrase means “by the branch.”

The problem there, though, is that from the grandchildren’s point of view, they get less than the other grandchildren. There are a couple of other options we can discuss with you. Or, you can do like most people do, opt for “per stirpes,” and leave it at that.

Zebras have nothing to do with it.

The post Leaving Property to Children in a Will appeared first on Faloni Law Group.

Many adult children in the US live far away from their parents. Managing aging parents or in-law medicare events can be a serious challenge without proper preparation and understanding of what your parents’ strategy may or may not be, no matter where you live. Do you know what legal documentation your parents have in place regarding their medical care? Do they have advance directives that can help guide your medical decision-making process? Do you and your spouse openly discuss the situations of each other’s parents?

Medical advancements facilitate aging Americans’ longevity even with comorbidities such as high blood pressure, diabetes, kidney disease, atrial fibrillation, and other health issues. Hospitals can typically fix non-life-threatening conditions easily enough, but what happens when a parent is released to return home? Are you prepared? Is there a plan? Many adult children tend to practice avoidance, denial, and wishful thinking when thinking about their aging parents’ behalf in a potential medical crisis. It is advisable to organize and prepare for the changes that inevitably come to your parents’ health.

More than ever, seniors are choosing to live independently and with autonomy about their life decisions. Even if your parents are in a well-run continuing care retirement community, there will come a day when their health will force a change in their lifestyle and living arrangements. Many parents will resist “help,” which they may consider more as interference. Whether they believe they are being a burden to you or decline a geriatric care manager’s services due to “cost” concerns, most older people do not want others interfering in their private affairs. 

The goal is to find a way to help while still affording your parents the dignity and respect they want and deserve. To achieve a comprehensive plan on your parents’ behalf, travel to them for an honest discussion. If this is not possible due to COVID-19 restrictions, then virtual meetings are best, followed by phone calls as hearing loss typically makes communicating useful information difficult. Even on a screen, a face-to-face connection allows a parent to read lips, which is a typical strategy for older people experiencing hearing loss.

Review what legal paperwork your parents have and make sure it is in order. Many documents have a signature from many years ago, and things may have changed. If there is no designation of a medical power of attorney, be sure there is a document naming a “personal representative” to address restrictions outlined in the Health Insurance Portability and Accountability Act of 1996 (HIPAA). This document allows the waiving of privacy concerns that permits access to a parent’s medical information while the parent is in the hospital.

Create an up-to-date list of all your parents’ doctors. The list should include medical contact information and all medicines (prescription or otherwise) that the parents take. If their general physician is not a geriatric specialist, it will help to find them one. Post-hospital fog and newly prescribed medications from an adverse health event can create confusion in an older parent. A geriatric doctor will know to look for and resolve these types of issues. Ask about the parameters for health care intervention, such as dialysis, post-hospital during the time of COVID-19?

Explain to your parents that being released from a hospital for a non-life-threatening, yet serious health episode is usually followed by the need for a care manager, at-home nursing care, or at least companion care. This additional care should not fall to a spouse if the parents live together. A spouse has their unique role to fill as well as personal health challenges with which to contend. Heaping an increased responsibility for spousal health care upon them may be damaging to their health.

Before an unforeseen medical crisis can occur, identify several qualified agencies in your parents’ hometown. Review each agency and candidate carefully. It is easier to integrate a suitable candidate at the outset than having the chaos of retaining and releasing multiple workers. Remember that a candidate who works for one parent may not be another parent’s preference in the future. Maintain a strong relationship with the agency provider. They are an essential resource, and you will probably need them in the future.

Take the time to learn the specifics of your parents’ healthcare and living arrangements. Coordinating your plan of response is contingent upon whether your parents live independently, in assisted living, or a retirement community. Wherever it is your parents live, their first desire will be to go home after an unexpected hospitalization. The desire to return home is a universal truth. Knowing the agencies that can quickly provide the type of care your parent needs in their home setting will go a long way to a successful transition. The road to recovery may require a few weeks of nurse visits, physical or occupational therapists, or simply companionship. The faster you can meet the need, the easier it will be on your parent.

If a full recovery is not possible, what will be your plan to address the new status of their normal? How much more medical oversight and assistance will they require? Know that in these instances, a parent can quickly spend through Medicare allotments afforded for temporary care. If they do not have long-term care, and many aging Americans do not, you will have to find ways to help them receive the care that they require.

If there are multiple adult children, is there an expectation that all siblings share information and work on the problems at hand, or is one in charge? Is this designation formally documented? Managing sibling relationships is key to avoiding family conflict. Also, understand your parents’ financial arrangements. Most parents will ask about the cost of any new healthcare service being arranged and decline using it. It is hard for a parent to spend down the money they worked their entire life to amass.

Knowing your parents’ aging strategies will not address every issue you might encounter because they may not have all the necessary decisions and documents in order. You can only work within the authority they choose to provide. As attorneys, we can help identify gaps in their planning and recommend ways to fill those gaps so everyone can have peace of mind.  If you’d like to discuss ways we can help, please don’t hesitate to reach out.

The post Why Knowing Your Parents’ Aging Strategies before a Medical Crisis Hits is Important appeared first on Faloni Law Group.

Your last will and testament is a set of legal instructions that communicates your wishes regarding your dependents and how to dispose of your property when you die. If you have people who you love and care for, then creating a will for your peace of mind and their protection is the right thing to do. Though crafting your will can make you face some uncomfortable topics, like mortality, it does not compare to the difficulty your loved ones will face trying to handle the logistics problems in the absence of your will.

Curiously, while many people have experienced the death of their parent and the fallout that occurs if the parent had no will, the number of Americans making wills is dropping. Recently, a study by Caring.com identifies that in 2020, 25 percent fewer people have a will than in 2017. Surprisingly, older and middle-aged adults make up a substantial part of this group even though 30 percent of the people in the study believe you should have a will by the age of 35.

Many Americans feel they do not have enough assets to deem a will necessary, but unless you are destitute, you probably own a lot more than you think. Property ownership includes things like an individual as well as jointly owned bank accounts, stocks and bonds, retirement accounts, real estate, jewelry, vehicles, your online digital footprint, and even pets, are all part of your estate. You do not have to be wealthy, or even close to it, to benefit from having a will. Your will also protects your family and loved ones at a time when their focus should be on grieving your loss, not administering to legal issues because you did not have a will.

Wills are subject to state law. When you die without a will, it is known as dying intestate , and the determination of the distribution of your assets becomes the responsibility of a probate court. The probate court appoints an administrator who will act as your executor, identifying legal claims against your estate, paying off outstanding debts, and locating your legal heirs. Locating heirs only occurs in the case where your property is worth more than your outstanding debts.

If you have an existing will we would be happy to review it to make sure it still reflects your wishes. If you don’t have a will we would be happy to help you create one that makes sense for your situation. Taking these steps now will bring you peace of mind, save your estate money, and protect your family and loved ones.

The post Why Having a Will is Essential During COVID-19 appeared first on Faloni Law Group.

There has been an explosion in the numbers of Americans rushing to make their will online. Understandably, the coronavirus pandemic has created the scramble to set up wills and end-of-life-directives. However, online do it yourself (DIY) wills are often deemed invalid as they do not comply with all of the legal requirements of your state. According to Caring.com , the prevalence of will and estate planning has been on the decline since 2017 but this trend is quickly reversing itself with the advent of the coronavirus pandemic. So, who needs a will? Ask yourself if you care who gets your property or money if you die? If you have minor children, do you care who will act as their legal guardian? The answer is anyone married, anyone with children or anyone with assets needs a properly executed will. Wills are governed by state law. Your will should reflect your wishes in the language and format required by the state in which you live for it to be valid.

Many law offices are turning to teleconference with their clients to address social distancing protocols while still providing legal services such as writing a will. Businesses like Zoom are experiencing a quadrupling of daily users. Part of this significant increase includes hosting secure attorney/client meetings for will preparations. The importance of an attorney guiding you through the process of creating a will cannot be understated as they understand the nuances of how things need to be written. Once your will is complete, it must be correctly notarized as mistakes made in the will-signing process can potentially invalidate your will.  Your attorney will guide you through the signing process, and could involve signing during a video conference.

Beyond the creation of a will, many Americans are increasingly concerned about their powers of attorneys, health care surrogates, living wills, and end of life directives. These “life documents,” as they are active while you are alive, are equally as important as your will. Named executors, successors, beneficiaries, power of attorneys should have several back-up representatives as the mortality rate due to the coronavirus remains unknown.

According to research in a recent New York Times report , health care workers are more likely to contract COVID 19 than the average person. During this pandemic, many doctors and other medical professionals are rushing to have their wills drawn up. In addition to doctors, anyone on the front lines in the fight against COVID 19, from hospital custodians to nurses to EMS responders, should either make a will or review and possibly update their existing one. However, the truth is no matter what your profession or likelihood of contracting this virus, you should have a properly executed will during this time of considerable uncertainty.

There are few things you can act on during the COVID 19 pandemic that can bring you assurance and a sense of relief. The legal creation of your will and life-directives is an action you can take that protects you and your family. We can help. Visit our website to schedule a phone or video conference and we’ll get this important process started for you.

The post How COVID-19 Has Influenced Americans of All Ages to Make Their Wills appeared first on Faloni Law Group.

Telemedicine is the digital information distribution of healthcare-related services. Not long-ago telemedicine was an innovative practice, primarily a supplement to hospitals’ information strategy managing patient care and their data more efficiently. During the coronavirus pandemic and its associated urgent healthcare needs, hospitals and medical offices are making telehealth capabilities more available than ever before. Long-distance patient and clinician contact, advice, reminders, care, education, intervention, monitoring, and remote admissions have become the norm.

The push for comprehensive virtual medical care quickly without a standardized platform has left many healthcare facilities struggling to meet demand with technological data integrity and consistent user interface. Just as individual’s panic led to purchasing toilet paper, hand sanitizer, and other essential household items creating shortages, hospitals “pandemic-purchased” telehealth solutions to ride out the crisis led to a hodgepodge of tech solutions. This situation led to medical information security breaches, dropped call and video conferencing, poor audio and video quality, and distorted or incorrect information relayed to patients and health insurance companies alike.

Patients who were sheltering in place and rather fearful at the outset of the pandemic were initially forgiving of technological glitches. Today, however, patients have higher expectations of telemedicine and seek seamless experiences. Patients are also taking advantage of the ability to test-drive options from home, exploring physician expertise, availability, disposition, and price point before committing to a particular doctor, health care practitioner, or hospital facility. Additionally, patients are enjoying the experience and are now more likely to seek virtual care. It turns out that a patient using telehealth is more likely to adhere to prescription and wellness regimes, which is an advantage to public health overall. On average, telemedicine saves a patient more than 90 minutes otherwise wasted in commuting to an appointment and waiting to be seen by a doctor.

Clinics and hospitals are also embracing the benefits of telemedicine. Virtual medicine has played a vital role in quickly flattening the curve by getting to as many patients as possible without compromising social distancing and urgent care only protocols. Patients with chronic conditions and other non-urgent care, including routine follow-ups, can still engage with their physicians, allowing medical care, decreased patient anxiety, and maintaining facility reputation through patient retention. This continuity of care is essential, especially for urgent non-COVID-19 related health issues.

Health care facilities and medical professionals are now able to reach a new demographic of patients through telemedicine, particularly those in rural areas or those who list time, convenience, and proximity as barriers to making an initial consultation. Fully 76 percent of hospitals now employ telemedicine services, and two-thirds of patients report a willingness to use telehealth in the future, even after the pandemic ends.

Telemedicine also yields significant savings of time and money for healthcare organizations and patients. An average in-office visit is 121 minutes, including 101 minutes of commute and waiting time. Therefore, a patient is only experiencing about 20 minutes of interaction with their doctor. A full one-third of patients have left a doctor’s office because the wait was too long. Telemedicine reduces wait times, no-shows, and cancellations saving time and money. There are also flexible insurance benefits to take advantage of when using telehealth.

How can you best assess your hospital or doctor’s office telemedicine platform and service? Medicaleconomics.com cites four questions that you must ask to find the service best suited to your needs. Telemedicine can vary drastically among categories such as compliance, quality, convenience, and features, so keep the following in mind as you search for the right fit.

Embracing telemedicine can open your healthcare to expert physicians, save you time, and maintain the significant benefit of social distancing. Look for a healthcare organization with the right telemedicine framework for you. It will help you stay current with your routine medical care despite the coronavirus pandemic.

If you have questions or would like to discuss your personal situation, please don’t hesitate to contact us.

The post Things You Should Know About Telemedicine in 2020 appeared first on Faloni Law Group.

Mistakes can be made when it comes to inheritances and Medicaid. Those mistakes can be costly. When a person is drawing Medicaid benefits and inherits money or property, that inheritance jeopardizes the benefits. The inheritance must be handled carefully to minimize expensive penalties. What “careful” means, though, can be misunderstood without the necessary expertise.

The first and best idea is to call experienced elder law attorneys like us. (An even better idea is to call us well before any inheritance becomes a “problem.” The sooner you call us, the more money we can likely protect for you.)

An Ohio attorney was recently suspended partly because he mishandled this Medicaid-inheritance issue. The mistaken advice was that to protect the benefits, the person who stood to inherit should “disclaim” or “renounce” the inheritance – in other words, give it away to someone else.

That advice would have been OK in the tax context. It was not OK in the Medicaid context. The Medicaid rules count inheritances regardless whether the recipient keeps them or passes them on to someone else. The bad result, in such cases, is that the person receiving Medicaid would be charged just as if he or she had taken the money, even if he or she gave it away, and the person’s benefits would be docked accordingly. This can be a very expensive misstep.

The better result would be to consult us immediately. We can advise you on necessary  techniques to split the inheritance between the recipient and somebody else, like a child. If the right strategies are used, Medicaid would count the inheritance to an extent, but not as much as it would have if the recipient had simply given away the whole sum.

An even better result would be if the person leaving the inheritance had consulted us first. We know how to structure that person’s financial arrangements, to protect the people to whom the person wants to leave his or her legacy.

Elder law is a law unto itself. We know that complicated area of the law well and we have helped many people successfully meet the challenges it poses. Call on us.

The post Inheritances and Medicaid: What You Need to Know appeared first on Faloni Law Group.