Many people, around the age of fifty, are suddenly thrust into the role of caring for their parents. They have never thought about the issues facing seniors but now they must find time and solutions. Though their own life is full with their own children, their spouse and their job, their parents are becoming increasingly frail. Someone has to take charge and more often than not, it is the 50 year-old daughter.
Example: Susan calls an Elder Law attorney to find out what to do (and when) concerning her mother. Susan has never once thought about Medicare, Medicaid, Veteran’s benefits, assisted living or nursing home issues. Her father died several years ago and her mother has been living alone since that time. Her mother’s health is declining and Susan knows that mom needs guidance in making plans. Mom will not ask for help but Susan knows she needs help. Can an Elder Law attorney help, she wonders?
We meet with Susan and her mother to learn more about their specific situation. We learn that “Mom” is 83 and still has her mental capacity. Mom is receiving Social Security benefits, a small pension from her late husband, some dividends on stock and interest on her CDs. Mom does not have an IRA but she owns her home outright (worth $125,000). Mom does not have long-term care insurance. Mom’s late husband was a veteran who served during the Korean conflict but he was never shipped out of the US. There are three children including Susan, but Susan is the only one who lives close to Mom. Mom does not want to leave her home; she is very clear about that. Susan has promised never to put her mom in a nursing home, but Susan is secretly concerned about being able to provide appropriate care if Mom’s health continues to deteriorate. The time is coming when Mom may need to move-in with Susan which is an issue that must be handled correctly to protect Mom’s assets.
So what have we learned from this conversation?
First, we have learned that mom may be entitled to a VA pension, a widow’s pension, which could provide an additional $1,056 per month to help meet her needs. Second, we have learned that mom’s health is failing but she doesn’t want to go to a nursing home so asset-protection planning is needed to ensure that her goals are achieved. Third, we have learned that mom may need to review her estate-planning to ensure that someone is appointed to help mom make financial decisions should she ever lose her mental capacity. Fourth, if Mom does move-in with Susan, they both will need guidance on how to do it to preserve Mom’s assets as long as possible. These are all very important issues to discuss and the time to discuss them is BEFORE the crisis or need arises.
Each family is unique. Your family’s needs are different from others. While general information is helpful, talking with an Elder Law attorney concerning your particular family situation is the only way you can trust that the path you choose is the best option. Helping families understand the interplay between Medicaid, Medicare and VA benefits, teaching families how to protect and preserve assets, assisting families in caring for family members with dementia and helping families deal with the many challenges that aging brings is what Elder Law attorneys do. The only way to begin the process is to schedule a meeting so we can review your specific situation and make some recommendations. Call today to find a time to meet. It will be an investment in you and your parents’ future and your peace of mind.
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