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            Last week I was telling you about Monica’s dilemma.  She thought the home she and her husband, Paul bought together with her mom had been retitled to them 15 years ago with Mom retaining a legal right to live there for her life time.  But, that’s not what happened.  The deed instead lists Mom as a co-owner of a 50% interest.             Monica insists that wasn’t what was intended.  Now they are concerned that if Mom needs long term care she doesn’t have enough money to cover it and will need Medicaid.  Can the home still be protected even though it appears that Mom still owns a half interest?  Her contention is that the attorney made a mistake.  Can she simply “fix” the mistake with a corrective deed?              I told her that without any objective evidence that the attorney made a mistake Medicaid won’t accept her explanation at face value.  If, for example, she can get the attorney’s file from 15 years ago and it indicates that Mom wanted to transfer her interest and only keep a right to live there then she might have an argument.  There must be some objective evidence to support her verbal assertion.              Without proof, a deed

           I received a call the other day concerning the following dilemma.  Monica and her husband, Paul had bought a home together with Monica’s mom 30 years ago.  The home was held as tenants in common, meaning if, for example, Mom died her share would pass by way of her will and not automatically to Monica and Paul.             Approximately 15 years ago, the family went to an attorney to change the ownership.  What they wanted was to transfer Mom’s interest to Monica and Paul, with Mom keeping a legal right to live in the home as long as she lives.             Fast forward to today.  Mom is in failing health but still living at home.  The family would like to keep Mom at home for the rest of her life with care if needed but they also recognize that Mom could run out of money and need to apply for Medicaid.  That’s when they pulled out the deed.  It didn’t appear to reflect the change they thought they made 15 years ago.             They were right.  The deed change did not transfer title the way they remembered.  Instead, the deed reflected a change from Paul and Monica, his wife and Mom, tenants

      Do a search online and you can quickly find advertisements for websites and software that will help you prepare your own will and other legal documents.  Some choose this option to save the legal fees.  But is this being “penny wise but pound foolish”?             Estate planning is as much for your loved ones as it is for yourself.  After all, it is your loved ones who will have to deal with the consequences of your decisions and clean up any “mess” that you have left behind.             One do-it-yourself website begins with a questionnaire that, once you complete it, is reviewed by a non-lawyer “specialist” who cannot give legal advice.  As a U.S. News and World Report article (December 23, 2007) noted, wills and estate administration are governed by state law and every state has its differences.  If you use a national website or software, it still must be tailored to your particular state.  You are putting a lot of trust and faith in the company you are using that they are compliant with the laws in your state.  If that company is mistaken your loved ones will suffer the consequences.             We’ve seen plenty of do-it-yourself wills that are problematic. 

            Last week I was sharing with you the most common scams that target the elderly.  This week let’s talk about tips to help avoid these scams, provided courtesy of the National Council on Aging. Never sign blank insurance claim forms. Never give blanket permission to a medical provider to bill for services rendered. Ask medical providers what they charge and what the out-of-pocket portion will be. Carefully review your insurer’s explanation of benefits statement.  If you have questions call the insurer and ask. Don’t do business with door-to-door or telephone salespeople who tell you that medical equipment is free. Only give your insurance/Medicare ID to those who have provided you with medical services. Keep accurate records of all your health care appointments. Know if your physician ordered equipment for you. Protect you Medicare number as carefully as you do your credit card numbers. Be wary of salespeople who claim that something they are selling you is paid for by Medicare. Review your Medicare statements to be sure you have received the services being billed to you. Report suspicious activities to 1-800-MEDICARE. Don’t buy from unfamiliar companies. Always ask for and wait to receive written material about any offer or charity. Obtain a saleperson’s name, business identity, telephone number, street address, mailing address and business

            In the information age and with the explosion of technology have come fraud, theft and deception of various kinds.  Elder fraud is the act of targeting older adults by attempting to deceive them with promises of goods, services or financial benefits that do not exist, were never intended to be provided or were misrepresented.  It is estimated that victims lose $2.9 billion annually as a result of elder fraud.             The elderly are particularly susceptible to scammers and schemes as their mental abilities begin to decline.  Seniors also tend to be more trusting.  Let’s look at the more common schemes. The Health Care Scam -  The National Council on Aging reports that scammers pretend to be health insurance or Medicare representatives so they can gain access to personal or contact information.  They then call back the senior at a later time, stating that they spoke with a son or daughter and that it is OK for the senior to reveal his/her Social Security number or driver’s license number.  The scammers then use that information to fraudulently bill Medicare in the name of the senior and keep the payments. The Grandchild Scam – My father-in-law recently almost fell for this one.  Scammers will

            This week I thought I would discuss some changes and trends that are - and in the future may - make it more difficult to qualify for two programs that provide critical benefits to pay for long term care, the VA’s Aid and Attendance and New Jersey’s Medicaid program.             A year ago I told you that the VA had proposed new regulations that would severely restrict the ability of wartime veterans and their spouses to qualify for a pension that can provide as much as $2120 a month that can help cover long term care costs (See Blog Post 2-9-15).  The biggest change that has been proposed is the imposition of a 3 year look back which would work similar to Medicaid’s 5 year look back.  Whereas now, with proper planning and restructuring of assets, an applicant with assets in excess of the VA’s asset limit of approximately $80,000 can immediately qualify for benefits, a 3 year look back would act as a 3 year waiting period for those same benefits.             Rumors circulated for months that these changes would occur in February, 2016.  Now word is that these changes could be coming in March, 2016.  For anyone with assets