Elder Law Today Podcast
81 episodes - English - Latest episode: over 14 years ago - ★★★★★ - 7 ratingsAre you a senior citizen? Or perhaps you have a parent, relative, close friend or neighbor who is one. If so, then you won’t want to miss this important and informative podcast. Learn about elder law, a relatively new area of law, that encompasses the legal issues that acutely affect seniors and their families. Yale Hauptman, an elder law attorney, discusses the various problems and issues of aging in America today and interviews guests from other elder care fields.
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Episodes
The Holidays - A Time to Consider Elderly Loved Ones
November 30, 2009 11:00Once again the holiday season is upon us, a time of joy but also stress. We often visit family members we haven’t seen in some time and that’s when changes in older loved ones become more noticeable. Some of the changes that may indicate your loved one needs some extra help: 1. Weight loss 2. Deterioration in personal hygiene 3. Unusually dirty or messy home 4. Unusually loud or quiet, paranoid or agitated behavior 5. Local friends and relatives noticing changes in behavior 6. Self-impose...
A Pension Crisis Brewing?
November 23, 2009 11:00Much has been written in recent years about the health of Social Security. As the population ages two things are happening. Fewer people are paying into the system, while at the same time more people are receiving benefits, raising concern that the program will run out of money. But there is another, perhaps, more serious crisis developing within state employee pension programs that hasn’t, until now, received as much attention. We are seeing it here in New Jersey, as are other states ...
Another VA Benefit You Never Heard Of
November 16, 2009 11:00Understanding the maze of laws and benefits that form our long term care system is a full time job. That’s why I devoted my practice exclusively to elder and disability planning. A few weeks ago I was reminded of that fact when I was asked what I know about a particular VA program that provides adult day care services for a small co-pay. This clearly didn’t sound like the Aid and Attendance program that in the past two years we have incorporated into our planning arsenal.(see my 2/25/08 p...
How Do You Know if You are Getting Accurate Medicaid Information?
November 09, 2009 11:00How many times have you contacted a government office to inquire about some benefit or program and told you are not eligible? Have you then left the office or hung up the phone accepting that what you have been told is true? What if that is just flat out wrong? As an elder law attorney I see that happen all the time, especially when it comes to the Medicaid program. A recent court case last week corrected at least one of those untruths. A federal court last week finally weighed in on a ...
Mary's Worst Home Care Nightmare
November 02, 2009 11:00For many families, keeping their elderly loved one at home will require in home assistance. There are many quality home health care companies in the area so finding one isn’t a problem. But I find so often that clients don’t go through a licensed agency because of the cost. While I have written in the past about the Medicaid problem of hiring aides directly and paying cash (7/20/09 post), there is another very real risk, safety. The following story is one, unfortunately, I have heard mo...
How Can the Government Tell Me I Can’t Help My Family? (Part 2)
October 26, 2009 10:00Let’s pick up where we left off with Mary. Her son, Jim is unemployed and Mary has been giving him funds totaling $50,000 over the last 6 months to help him pay his bills. And she intends to continue doing so until he finds a job. While Mary is 70, healthy and not thinking she’ll ever need long term care, I explained to her that if her health takes a turn, the transfers to Jim will make her ineligible for government benefits should she run out of money. That is a very real possibility, w...
How Can the Government Tell Me I Can't Help My Family?
October 19, 2009 10:00Mary had been reading my blog posts for some time now about the need to plan ahead for long term care. Something struck a chord with her and she called. She has a home and about $200,000 in investments. While still healthy, she is 70 and thinking about the future. I then asked her if she had made any gifts to her kids or grandkids. She replied, “No gifts but I am helping out my son Jim a little bit because he has been out of work for 6 months”. “Well, Mary, actually, the money you are ...
I Don't Have an Estate Tax Problem --- Do I?
October 12, 2009 10:00A few months back I wrote about how estates up to $3,500,000 are not subject to federal estate tax and that the tax will be eliminated in 2010. For this reason, when people call our office to discuss estate planning they will often begin by saying that they are not concerned about estate tax. I have to correct them, however, because most states have their own estate tax that may kick in on smaller estates where the federal tax isn’t a concern. So, how big might such an estate tax bill be?...
New York's New Power of Attorney - What Does it Mean for You?
October 05, 2009 10:00On September 1, 2009 New York’s new power of attorney law became effective. There has been much written about it. The intent of lawmakers was to correct the financial abuses that seem to increase in frequency, probably due to the aging of our populace. As with any new law, however, what lawmakers envision and what actually occurs often differ greatly. But, what does the new law mean for you? First, let’s run through the major changes. One of the biggest changes is the creation of a “st...
Should I Take Social Security Early or Not?
September 28, 2009 10:00One of the more common questions asked of me is “should I take Social Security early?”. The questioner is referring to the ability to take Social Security as early as age 62, rather than waiting till the full time retirement age of 65. (By the way that age gradually increases for those born after 1937 until it reaches age 67 for those born 1960 or later.) Taking early Social Security reduces your monthly payment by ½ of 1 percent for the number of months before age 65 you start those check...
NFL Seat Licenses and Medicaid -- Huh?
September 21, 2009 10:00I met with a family with the following scenario. Dad needed nursing home care and the family had done no long term planning. We talked about how under Medicaid rules the couple’s assets would be counted, divided in half and that Mom would be able to keep 50% of the assets up to a maximum of $109,540 and the home. We went through a list of their investments. I then asked if they had anything else of value. Son, Joe, mentioned that Dad had just signed up for Jets season tickets at the new...
Mom Needs Help But a Guardianship Won't Work - What Now?
September 14, 2009 10:00I discussed in last week’s post how a guardianship may not be possible where Mom needs help but is not necessarily incompetent. So, what other options are there? Mom’s health has been in gradual decline. The family sees it. Sometimes they agree that action is necessary, some times not. They have had more than one conversation with Mom about the need for long term care planning, for example moving Mom to a safer environment. The problem, however, is that the family (usually the chi...
Mom Needs Help But Won't Accept It - Can We Apply for Guardianship?
September 07, 2009 10:00The caller gives me the following fact pattern or some variation. Mom’s health is deteriorating. Her behavior is becoming extremely erratic, in some cases violent or abusive. In some cases it’s dementia. In others it’s alcohol or the side effect of the medications she is taking. Bills go unpaid. Spending is out of control. The house is falling into disrepair. The family has spoken to Mom but hasn’t gotten anywhere. She refuses to sign a power of attorney or health care directive or ...
Respite Care - Taking Care of the Caregiver
August 31, 2009 10:00Long term care for people suffering from Alzheimer’s Disease and other progressive, degenerative neurological diseases comes in many forms. In past posts I have discussed nursing homes, assisted living facilities, adult day care and home care administered by professionals and family members. Another type of care that you may or may not have heard of is called respite care. This type of care is as much for the caregiver as it is for the ill family member. For so many people care is pro...
My Disabled Son is Going to Receive an Inheritance and Lose His Government Benefits – What Can We Do?
August 24, 2009 10:00Mary calls with the following problem. Her father recently passed away and left a sum of money to each of his grandchildren, including Mary’s son, John. “So, what’s the problem”, you ask. John is 25 and mentally challenged. He is disabled, doesn’t work and receives Medicaid. Mary is concerned because she heard that receiving the inheritance will cause John to lose his benefits. She’s correct if John’s assets exceed $2000. “Is there anything that can be done?” she asks desperately. ...
What Michael Jackson and Yung-Ching Wang can Teach All of Us
August 17, 2009 10:00The recent deaths of two wealthy men, one very well known, the other not, illustrates yet again the complications and costs of not preparing an estate plan. The media has focused in the last few months on the story about Michael Jackson’s death and its aftermath. No doubt we will be bombarded with this story for months and years to come. Jackson left a mountain of debt, assets that in death are probably worth more than when he was alive, and a less than traditional family. Jackson did, h...
Is It Effective Medicaid Planning to Add Someone's Name to Your Bank Account
August 10, 2009 10:00Mrs. Jones came in to see me. Her husband was diagnosed with Alzheimer’s three years ago and the disease has progressed to the point where he needs long term nursing home care. At the time of the diagnosis she talked to some family friends and they told her to go ahead and add the kids’ names to her bank accounts and mutual funds to protect those assets from Medicaid. Now that her husband is in a nursing home she wonders whether she did the right thing. Unfortunately, she did not. In New Je...
To Gift or Not to Gift
August 03, 2009 10:00Joe calls me because he wants to understand how Medicaid works. I start to explain how you have to spend down your assets before you can qualify for benefits. That the spend down has to be for value, meaning that you are spending your money and receiving something of equal value in product or service in return. Joe listens and then perks up. "Wait a second", he says. "I can make a gift of $10,000 per person so that doesn’t count, right?". "Wrong", I reply. What Joe has done is make a...
I Have a Living Trust So I'm Covered - Right?
July 27, 2009 10:00In discussing long term care planning with new clients, very often they will tell me that they have everything covered because years earlier they set up a living trust. Living trusts are estate planning devices designed to eliminate the need to probate an individual’s estate at his/her death. In the 1990’s they were especially popular and still are very common, especially in states such as Florida and New York, where probate is time consuming and expensive. But are they useful for long te...
The Right Way -- And The Wrong Way -- To Hire a Home Aide
July 20, 2009 10:00As long term care needs increase and families want to keep their loved ones at home, hiring home health aides often becomes necessary. Paying an aide, however, if not done correctly, can cause Medicaid ineligibility years later, after funds run out. Consider the following very common scenario. Jane hires a home health aide at $700 per week cash, or $3000 per month. She keeps the aide 3 years until her funds run out and now needs round the clock care. A nursing home becomes the only opt...
The Bank Won't Honor my Power of Attorney
July 13, 2009 10:00As I often tell clients, one of the most important documents that everyone should have is a power of attorney. A power of attorney allows you to designate someone to conduct financial and other transactions on your behalf. The ease with which anyone can execute such a document is a positive but can also be a negative because of the risk of it being abused. And therein lies the problem when it comes to being accepted by a third party, such as a financial institution or bank. When we prep...
Dad Owns a Home and Needs Nursing Home Care - What do I do?
July 06, 2009 10:00A common scenario that I am seeing with increasing frequency is the following fact pattern. Dad owns a home but not much else. He needs nursing home care but can’t get a mortgage to tap into the equity to pay for the care. The home is listed for sale but in today’s market, homes aren’t moving quickly. So the children pay the nursing home bill and the cost to maintain the home, with the expectation that when they sell the home they will repay themselves. The family doesn’t have any writ...
Assisted Living Medicaid - Another Example of the Risks of Going it Alone
June 29, 2009 10:00A few months ago I wrote about the difficulties qualifying for assisted living Medicaid. (See 3/23/09 blog post). Last year I wrote about the risks of trying to handle a Medicaid application yourself. (See 10/5/09 blog post). A recent case we handled in our office illustrates both issues. John had been in an assisted living facility for several years. His wife, Mary was living at home and private paying for his care. She had numerous conversations with the assisted living facility abo...
Is Remaining at Home Always the Best Option? Maybe Not
June 22, 2009 10:00As I have written previously, in speaking with families, overwhelmingly the desire is for elderly family members to remain in their own home as they age and face declining physical and mental health. But, is that always the best thing? Perhaps, not for everyone. I was reading a recent post on the New York Times New Old Age blog (www.newoldage.blogs.nytimes.com) which highlighted two cases in which elderly parents were living at home in declining health. One was a 95 year old woman livi...
Spent Down? Not So Fast
June 15, 2009 10:00Some months ago I wrote about the couple who, not understanding the peculiarities of the Medicaid rules, did not spend down in a timely manner and, as a result, lost six months of Medicaid eligibility. Even though the money was eventually spent those lost months could not be recovered and the wife was stuck with a nursing home bill of $60,000 she should not have had. (See 10-5-08 blog post) The ins and outs of Medicaid are complex and confusing. Another example which we recently addresse...
No Estate Tax in 2010 - Will It Really Happen?
June 08, 2009 10:00Ever since Congress passed the current estate tax legislation in 2001 it was the belief of many, including myself, that legislators would have to go back and pass changes to the law before 2010. You see, in 2010 there is no federal estate tax. But, the elimination of the tax applies only to that one year. In fact, in 2011 the federal exemption, the amount one can pass free of federal estate tax, goes back to $1,000,000. It doesn’t take much imagination to see why that can be a dangerous...
Elder Law Today Podcast Show #18 Continuing Care Retirement Communities
June 03, 2009 07:02 - 13 minutes - 9.21 MBContinuing 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 typicall...
Continuing Care Retirement Community - Is It Right For Me?
June 01, 2009 10:00Continuing Care Retirement Communities (CCRCs), are communities that provide a full continuum of care for their residents. They have flexible accommodations designed to meet their resident’s health and housing needs as those needs change over time, offering independent living, assisted living and nursing home care, usually all in one location. As a requirement for admission to most CCRCs, residents are required to pay an entrance fee or a lump sum “buy-in” which, in addition to...
LTACH - What is it and How Can it Benefit My Critically Ill or Catastrophically Injured Loved One?
May 25, 2009 10:00Medical science has made great strides in the last 30 years. We are certainly living longer. Illnesses and injuries that in the past resulted in death, now do not. However, the recovery period can be a long one, especially for the elderly, whose recuperative abilities are not the same as younger patients. As a result, patients remain hospitalized longer and bounce back and forth between nursing home and hospital, in so many cases. That’s where the long-term acute care hospital or LTAC...
A Medicaid Story That Starts Out Bad But Turns Out Just Fine
May 18, 2009 10:00Last week I wrote about Dad who gifted a large sum to his children and within 6 months needed long term care. Because the money had been spent and could not be returned I had to explain to the daughter that Dad would not be eligible for Medicaid for 4 and ½ years. A complete disaster. But this week let’s take a look at a success story, one in which we were able to work to fix the mistakes that were made, long before long term care and Medicaid were needed. Two years ago Mary contacted me...
It's Dad's Money. He Can Do What He Wants With It - Right?
May 11, 2009 10:00In February, 2006 Congress passed some significant changes to the Medicaid laws that created some very dangerous traps for unprepared families needing long term care. At the time I wrote about a case in which Granddad gifted his money to Granddaughter who moved in to care for him. When she could no longer provide the care and applied for Medicaid she was told, mistakenly, that he was not eligible because of the gifts. It turned out that the Medicaid ineligibility period had expired. We fil...
Elder Law Podcast Show #17 Why Do I Need a Will
May 06, 2009 08:20 - 11 minutes - 8.23 MBThe 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 intest...
When Can a Healthy Spouse Keep More Than Half the Assets Under Medicaid Rules
May 04, 2009 10:00Jane’s husband, John, was recently hospitalized and nursing home care was looking more than likely. At that time, their assets totaled approximately $150,000 (not including their home and one car, both of which are “exempt” for Medicaid purposes). Jane went to the Board of Social Services to see what benefits would be available to help her pay for her husband’s nursing home costs. The caseworker explained to Jane that, upon application for Medicaid benefits, the state will total all of the ...
My Spouse Needs Nursing Home Care - What are my Options?
April 27, 2009 10:00Mary and Joe own their home and have $150,000 in savings. They have wills leaving everything to each other and then alternatively to their children, but they have done nothing to address their long term care needs. Joe is now about to enter a nursing home and Mary is faced with spending down to $75,000 and losing Joe’s income before he will be eligible for Medicaid. A classic crisis planning case. Does Mary have any options? Actually, yes. While she will have to spend down there are w...
How Long Term Care Can Destroy an Estate Plan
April 20, 2009 10:00Whenever we meet with new clients, especially married ones, I always want to review the estate planning documents that they currently have. Sometimes those documents are 10, 20 or 30 years old. Other times, the clients will say, “Oh, we just had our wills updated in the last year so we’re good there. Yet, when I review the documents, I find that they are not suitable for their current needs. How can this be? Very simply, no one considered how long term care costs can completely destroy...
Thinking About Transferring Your Home - Have You Considered the Tax Implications - Part 2
April 13, 2009 10:00In my last post I explained how Mom’s transferring her home to me during her lifetime will result in capital gains tax whereas passing the home to me after she dies can reduce or even eliminate the tax. However, Mom considered transferring the house because she wanted to protect it from being consumed completely by the cost of long term care, especially important where other family members live in the home.(See my posts on 2/23/09 and 3/2/09). Right there is the dilemma. What to do? Ca...
Thinking About Transferring Your Home - Have You Considered the Tax Implications? - Part 1
April 06, 2009 10:00"Mom wants to transfer her home to me. Do you think it’s a good idea?" A seemingly simple question and one that is probably one of the more common questions I am asked as an elder law attorney. But, not one that I can answer without knowing more. One size does not fit all. The home is typically the largest asset people have and they are frequently and understandably emotionally attached to it. The primary residence also enjoys special tax treatment and that is what most people fail to...
Elder Law Today Show #16 Mom is Not Capable of Handling Her Affairs - When is a Guardianship Appropriate
April 03, 2009 18:10 - 11 minutes - 7.78 MBMom 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 incompeten...
How a Declining Stock Market Can Cause a Long Term Care Nightmare
March 30, 2009 10:00As the current economic crisis deepens, it is becoming increasingly clear that we are heading into uncharted waters, in so many respects. Specifically, however, I am talking about the long term care arena, and a recent phone call I received highlights this so clearly. John called concerning his father. Dad owns a home in which he lives. Home health aides come into the home to assist Dad but as his health deteriorates and he needs increased care John believes that Dad will very soon need...
Assisted Living Care - I'm Out of Money So Now What?
March 23, 2009 10:00Dad has been living in an assisted living facility for 3 years at a cost of $4500 per month. He likes it there, is safe and well cared for. There is one small problem. He is running out of money and the family is becoming desperate. Fortunately, some states have Medicaid programs that cover assisted living care but the rules can vary significantly from nursing home Medicaid. In New Jersey, for example, if income exceeds the Medicaid cap ($2022 per month in 2009) the assisted living pro...
The Unpredictability of Alzheimers' Disease
March 16, 2009 10:00So often, when working with families who are struggling to care for a loved one with dementia, the most frustrating part is the uncertainty of the condition from day to day. The recent case in Minnesota of Verne Gagne highlights that very clearly. Verne Gagne was a prominent professional wrestler in his day with the American Wrestling Association, in the 1960’s and 70’s. He eventually lost his big stars, such as Hulk Hogan and Jesse Ventura, to the World Wrestling Federatio...
Married ... Well Not Really - A Long Term Care Quagmire
March 09, 2009 10:00Jane calls us to relate the same problem that many Americans today are coping with, trying to care for aging parents. She calls because Dad’s health is rapidly deteriorating and she fears he will need nursing home care. I ask about Mom’s health. Jane replies that she is healthy. And here is the twist, where the story becomes more complicated. Jane tells me that Mom and Dad have been separated for years, never divorced, just living separate lives under separate roofs, with separate asse...
Elder Law Today Podcast Show #15 - You’ve Spent Down all Your Money and Still Can’t Get Medicaid – How Could This Happen?
March 05, 2009 09:20 - 11 minutes - 7.74 MBYou’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’s 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 ...
The Home - To Transfer or Not to Transfer - Part 2
March 02, 2009 11:00As we discussed last week, Joe wants to transfer his home to Jim, who lives there with his wife and children. But let’s change the facts a bit. Joe is not healthy but has the early stages of dementia and needs some in home assistance. It is possible that within 5 years he will need nursing home care, so we are concerned about the 5 year Medicaid lookback. What options do Joe and Jim have? One possibility is for Jim to buy the home at a price that he can afford but that may be below fa...
The Home - To Transfer or Not to Transfer - Part 1
February 23, 2009 11:00Home ownership has long been a large part of the American dream. Through the course of the 20th century, the percentage of Americans owning their homes rose considerably. In many of these homes three generations lived under one roof. Today, there still are many 3 generations homes. The reasons for it are the same. The grandparents often help care for their grandchildren while the parents are working. Sometimes the grandparents need assistance and can’t live alone any longer. There ...
A Two Generation Family Long Term Care Crisis - Part 2
February 16, 2009 11:00So, in last week’s blog I presented a common scenario, Mom and Dad both needing long term care and nothing but a house left in their names. The children are paying for their care to the tune of $10,000 per month. We get Dad on Medicaid first. Now we work on getting Mom into a nursing home and then apply for Medicaid for her. The home will have to be sold (unless there is a family member living there but we’ll address that exception in another issue) but it won’t hold up Mom’s Medicaid...
A Two Generation Family Long Term Care Crisis - Part 1
February 09, 2009 11:00Mom and Dad are still living in their home which they own. They both need round the clock nursing home level care and have home health aides living with them. This has been going on for a number of years and they have spent down all their assets on care and maintaining the home. Now the children are spending their own money, in some cases as much as $10,000 per month or more, with no end in sight. They want to sell the home but in today’s economy and real estate market that isn’t as easy...
Elder Law Today Podast Show #14 Married Couple - Crisis Long Term Care Planning
February 05, 2009 14:16 - 11 minutes - 10.4 MBSo 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 healt...
Reverse Mortgages - Another Look in Today's Economic Climate
February 02, 2009 11:00Mom and Dad are living in their home but their health is failing. They do not yet need nursing home level care, but do need some assistance on a daily basis. Their children are running back and forth helping to provide care but it is just too difficult to do on a long term basis. The plan is to move them to an assisted living facility. The problem, however, is that they have limited funds to pay for that care. While they intend to sell the home, that won’t happen overnight. An option ...
Transferring Assets - A Real Life Picture
January 26, 2009 11:00When I talk with people about long term care and the Medicaid program I sometimes hear very strong opinions that "it is wrong to transfer assets in order to qualify for Medicaid to pay for nursing home care". The person making the statement, however, typically hasn’t really given any thought to what that means in real life situations. Let me give an example. Mom is 85 years old and living alone. While she clearly shows the signs of aging and should have put in place a plan in case she n...