Articles Posted in Elder law estate planning

Health documents used in an estate planning context are some of the most valuable documents that a person can have. These documents, however, often invite uncertainty because the documents are referred to by various names and one document can be confused for another. When it comes to the subject of estate planning, four primary types of healthcare planning documents exist.

# 1 – Healthcare Power of Attorney

Healthcare power of attorney documents are the most commonly utilized in the estate planning field. These documents are also referred to as healthcare surrogates or medical power of attorney. These documents often exist separately from durable power of attorney documents, which address legal and financial issues. Comparably, healthcare power of attorney documents appoints at least one individual who will function as a healthcare agent. These documents should also address an additional individual who will function as a backup. 

In some situations, courts throughout the country are able to stop other individuals from altering an elderly individual’s estate plan. 

In one recent case, White v. Wear, the appellate court considered the creation of a restraining order blocking the respondent from performing any alternatives to estate plans. The order might preempt estate planning changes and as a result, eliminate a further dispute over the estate planning document.

The man at the heart of the case established a corresponding trust several decades ago with the 

Frustration is growing for medical professionals including those who work at hospices as they wait for President Biden to reveal details about how federal regulations for COVID-19 will be enforced.

This frustration is in part driven by uncertainty about aspects like permissible exemptions, testing costs, and the number of worker counts that will be utilized. Until the regulation is published, the country will not be certain about the exact impact on home care organizations by COVID-19 regulations. 

The National Hospice and Palliative Care Organization President and CEO have reported that there is widespread concern and that the country continues to collect input about COVID-19 to inform its discussions with the administration to make sure that the requirement is executed in the best possible manner.

The Social Security Administration recently revised its rules addressing how pandemic-related financial assistance can end up impacting a person’s eligibility for Supplemental Security Income or monthly Social Security Income benefits. The Social Security Administration once counted various types of assistance as income and resources for social security income purposes, which led to individuals having their social security income benefits reduced or suspended. Sometimes, social security benefits were outright denied. 

A Change to What the Agency Counts as Assistance

Due to the covid-19 pandemic, the Social Security Administration has decided to not count many types of pandemic-related assistance against either Supplemental Security Income eligibility or benefit amounts. Some types of assistance that are now excluded include economic impact payments, state stimulus payments, unemployment assistance, paycheck protection, and loans or grants to employers and self-employed workers.

A recent study from the Centers for Disease Control and Prevention found that 22 percent of older adults in the United States experience functional impairment which is characterized by the difficulty to perform daily living activities as well as challenges with concentration or decision making due to emotional, mental, or physical conditions. 

Another recent study published in the American Journal of Preventive Medicine found that functional impairments among individuals age 50 and older are associated with a higher risk of medical cannabis use as well as prescription drug misuse. The author of the study later commented that a link might exist between functional impairments and the misuse of prescription drugs. Given the concern for such a high rate of misuse of prescription drugs among elderly adults with functional impairments, you must know what you can do to help your loved one.

Remember the Aftermath of Drug Abuse is Severe

Taxes continue even after you retire. Choosing not to pay attention to the possibility of taxes incurred during retirement could substantially lower your standard of living in retirement. To make matters even more complex, some of the common-sense strategies that people utilize to reduce taxes can lead to paying more in retirement and on inheritances. 

This article reviews just one of many strategies that can be utilized to minimize the amount of taxes that you end up paying in retirement.

# 1 – Make the Most of Timing

Following the recent documentary, Framing Britney Spears, as well as the increased media focus on the matter, Brittney Spears has become a common subject of conversations in 2021. It’s not Spears’ music this time that’s making headlines, though, it’s Spears’ conservatorship.

In 2008, Spears’ father was appointed conservator for Brittney’s financial and personal decision. Over a decade later, a professional fiduciary was appointed to assume Mr. Spears’ position due to health issues the elder Spears currently faces. 

Based on allegations, Ms. Spears’ conservatorship still exists but Ms. Spears no longer wants her father to function in such a role. Following a February 2021 hearing, a judge decided that Ms. Spears’ father as well as the professional fiduciary would share conservator roles. 

Data reveals that approximately 70% of all adults in the United States who will live to the age of 65 will require long-term care. Because many of these older adults do not require the full degree of care provided by nursing homes or have limited finances, it is important to realize that alternatives to nursing homes exist. 

# 1 – Assisted Living

Assisted living facilities are often an excellent solution for elder individuals who want a mixture of both privacy as well as community interaction. 

Trying to care for an aged parent is a challenging and sometimes impossible-seeming task. Whether you live a few hours away from your parent or on the other side of the country, it’s common to end up whether you are providing your parents with adequate care. 

As a result, this article reviews some helpful tips to make sure that you provide the best long-distance care possible for an aging parent.

# 1 – Decide What You Can (And Can’t) Do

Data compiled by the Centers for Disease Control and Prevention show that more than 16 million Americans care for someone who has been impacted by dementia. Caring for a person that you love who has dementia can require specific care techniques to make sure that the loved one functions in the best way possible. 

While it’s not a specific type of disease, dementia can impact various aspects of a person’s emotional and physical well-being. These changes can make caring for a person with dementia stressful as well as painful. 

As a care provider, it can prove helpful to understand some tips for making sure you provide your loved one afflicted with dementia with the best care possible.

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