Posts Tagged Elder Law

Protecting Yourself Against The High Cost of Long-Term Care, Continued

On July 16, 2020   /   Blog  
Tags: , ,
Protecting Yourself Against The High Cost of Long-Term Care, Continued

Last time, we looked at the cost of long-term care and two strategies frequently used to cope with it. Now let’s look at several other options.  Life insurance. Some insurance companies have begun to offer life insurance policies that can help pay for long-term care services. The options include combination life/long-term care products, accelerated death benefits, life settlements and viatical settlements. Combination products are relatively new and the features change constantly as the products evolve. Annuities. You may choose to enter into an annuity contract with an insurance company to help pay for long-term care services. In exchange for a single payment or a series of payments, the insurance company will send you an annuity, which is a series of regular payments over a specified and defined period of time. There are two types of annuities, Immediate Annuities and Deferred Long-term Care Annuities. You can learn more about long-term care

Continue Reading... →
Back to Top

Protecting Yourself Against The High Cost of Long-Term Care

On July 9, 2020   /   Blog  
Tags: , ,
Protecting Yourself Against The High Cost of Long-Term Care

Thanks to improvements in medical science and healthier lifestyles, Americans are living longer than ever before. Unfortunately, many of us will require long-term care at some point in our lives, and one in five of us will require long-term care for at least five years. According to Genworth Financial, the median cost of long-term care nationwide ranged from $51,480 to $102,200 per year in 2019, depending on the type of care needed.  (Care costs also vary widely based on where you live. To see the cost of care in your area, visit https://www.genworth.com/about-us/industry-expertise/cost-of-care.html.) The median cost of in-home care provided by a home health aide was more than $52,000 in 2019, while care in a nursing home can easily top $100,000 per year. Worse, experts predict that the cost of nursing home care will more than double over the next twenty years. Tragically, many families exhaust their life savings within

Continue Reading... →
Back to Top

Estate Planning and Alzheimer’s Disease

On July 2, 2020   /   Blog  
Tags: , ,
Estate Planning and Alzheimer’s Disease

While everyone should have an estate plan, it is especially important for families living with Alzheimer’s disease. If you or a loved one has recently been diagnosed with Alzheimer’s, and you do not have estate planning documents like a will, Power of Attorney, or advance directive, please contact our office as soon as possible. Estate planning documents require the person who signs them to have the legal capacity to understand the documents’ consequences. In most cases, someone who has just received a diagnosis of Alzheimer’s can understand the meaning and importance of a given document and therefore has the legal capacity to sign it. However, the ability to understand the implications of legal documents may decline as the disease progresses. We can guide you through all the legal ramifications surrounding an Alzheimer’s diagnosis, including medical and asset protection planning, advance directives and guardianship. We understand what you are going through

Continue Reading... →
Back to Top

Alzheimer’s Disease: Facts Versus Fiction, Continued

On June 25, 2020   /   Blog  
Tags: , ,

In our last post, we discussed some of the myths surrounding Alzheimer’s disease and other forms of dementia. Now, let’s dispel some other myths. You have to be old to get Alzheimer’s disease. People in their 50s, 40s and even 30s can get Alzheimer’s disease. This is known as younger-onset or early-onset Alzheimer’s. It is estimated that there are currently more than 200,000 people under the age of 65 with early-onset Alzheimer’s disease. Cooking with aluminum pots and pans or drinking from aluminum cans may lead to the development of Alzheimer’s disease. This myth began in the 1960s and is still widely held. However, studies have failed to show any connection between Alzheimer’s disease and commonly used items containing aluminum, such as cookware, cans, antiperspirants and antacids.  The artificial sweetener aspartame causes memory loss. Artificial sweeteners such as NutraSweet and Equal, which contain aspartame, were approved by the Food and Drug

Continue Reading... →
Back to Top

Alzheimer’s Disease: Facts Versus Fiction

On June 18, 2020   /   Blog  
Tags: , ,
Alzheimer’s Disease: Facts Versus Fiction

The number of people living with Alzheimer’s disease in the United States is growing rapidly. So, too, are the number of myths surrounding the disease and other forms of dementia. Let’s begin by looking at what we do know about the prevalence of Alzheimer’s before investigating some of the more common myths. Approximately 5.5 million Americans are currently living with Alzheimer’s disease. Of these, some 5.3 million are 65 years of age or older. In addition: One in 10 people 65 and over has Alzheimer’s disease Nearly two out of three Americans with Alzheimer’s disease are women African-Americans are approximately twice as likely as older Caucasians to have Alzheimer’s or other forms of dementia Hispanics are about one and one-half times as likely to have Alzheimer’s or other dementias as older Caucasians As the population grows older, the number of new cases of Alzheimer’s disease is expected to soar Today,

Continue Reading... →
Back to Top

Virtual Reality Is Now Being Used to Help People With Dementia

On June 11, 2020   /   Blog  
Tags: , , ,
Virtual Reality Is Now Being Used to Help People With Dementia

Modern technology has been used for years to address challenges faced by seniors. Nintendo Wii’s motion gaming technology, which allows users to play virtual tennis and engage in other virtual activities, became quite popular in nursing homes as a way to get residents to exercise. Microsoft’s motion gaming sensor, Kinect, has helped patients recover from painful medical procedures. In addition, numerous wearable and smart appliance technologies are being created to allow seniors to live at home rather than moving to a long-term care facility. Now virtual reality is helping seniors who struggle with loneliness, depression and even dementia. An article in the Washington Post explored this development. The article focuses on a physician in the San Francisco Bay area, Sonya Kim, who uses virtual reality headsets to treat lonely and depressed seniors. She has found that the therapy makes a dramatic impact on her patients’ lives. “It lifts the moods

Continue Reading... →
Back to Top

The Growing Problem of Guardianship Abuse

On June 4, 2020   /   Blog  
Tags: , ,
The Growing Problem of Guardianship Abuse

Guardianship is a process designed to protect seniors who can no longer manage their own affairs. Tragically, predators increasingly exploit the system to take advantage of vulnerable seniors for personal gain. The guardianship process typically begins when a member of the senior’s family or a social worker notifies the court that the individual in question is unable to care for himself or herself. In many situations, the court names a family member as guardian. However, when families cannot agree on who should act as guardian, or no family members are available to assume this responsibility, the court can appoint a public guardian, also known as a professional guardian. In theory, public guardians are neutral parties dedicated solely to the well being of the ward (the ward is the person being looked after by the guardian). The problem is that many states fail to adequately monitor guardians, enabling unscrupulous public guardians

Continue Reading... →
Back to Top

The VA Aid and Attendance Pension Program Can Help Eligible Veterans Pay For The Cost Of Long-Term Care

On May 28, 2020   /   Blog  
Tags: , ,
The VA Aid and Attendance Pension Program Can Help Eligible Veterans Pay For The Cost Of Long-Term Care

The Aid and Attendance Pension Benefit provides eligible veterans with tax-free pension income payments. This benefit also extends to surviving spouses of eligible wartime veterans. A married veteran can receive up to $2,903 per month to help with the cost of long-term care while a surviving spouse can receive nearly $1,176 per month. The benefit is paid directly to the veteran by the United States Treasury and does not need to be paid back. It can be used to pay anyone, including the veteran’s child, for home care. It can also be used to pay for professional care in the home, assisted living, nursing home care, insurance premiums, prescription drugs, co-pays, and more. In essence, Aid and Attendance can help an eligible veteran or widowed spouse live at home for as long as possible while still receiving the care he or she needs and protecting hard-earned assets. To be eligible

Continue Reading... →
Back to Top

Are You Predisposed to Alzheimer’s Disease? What to Consider Before Taking A Genetic Test, Continued

On May 21, 2020   /   Blog  
Tags: , ,
Are You Predisposed to Alzheimer’s Disease? What to Consider Before Taking A Genetic Test, Continued

It is important to note that if you take a genetic test and the results indicate you have APOE4, the genetic variant associated with late-onset Alzheimer’s disease, you are not destined to develop Alzheimer’s. “It’s not a diagnosis,” said Ramos, “And it’s just one factor. Your chance of getting late-onset Alzheimer’s is a mix of your environment, family history and DNA. That can be a complicated message to tease out.” Even if you have one copy of the APOE4 variant, you are still unlikely to develop Alzheimer’s. For example, a woman with a single copy of APOE4 has a five to seven percent chance of getting Alzheimer’s by the age of 75. The rate increases to between 27 and 30 percent by age 85. (However, for women with two copies of the variant the risk increases to 60 percent by age 85.) In addition, there are a number of potential

Continue Reading... →
Back to Top

Are You Predisposed to Alzheimer’s Disease? What to Consider Before Taking a Genetic Test

On May 14, 2020   /   Blog  
Tags: , ,
Are You Predisposed to Alzheimer’s Disease? What to Consider Before Taking a Genetic Test

It is now easy and relatively inexpensive for consumers to take tests that reveal basic information about their genetic health and ancestry. The market for such tests is booming, a trend that will likely continue following the U.S. Food and Drug Administration’s recent streamlining of the approval process for bringing tests to market. One of the more popular tests, 23andMe, costs $199 and can reveal a number of genetic predispositions. For example, you can discover if you are predisposed to lactose intolerance or a tendency to drink a lot of coffee. It can also tell you whether or not you have one of the genetic markers that increase your chance of developing Alzheimer’s disease. The popularity of 23andMe and similar tests is understandable. If you know you have a risk for certain medical conditions, you can take steps to try and prevent them. You can avoid specific foods, take the

Continue Reading... →
Back to Top