A Family Owned Business Long Term Care Nightmare (Part 1)
George built his manufacturing business from scratch. He and his wife, Claire, had raised a family of 2 boys and a girl, but George treated the business like another child, nurturing it from infancy to maturity. It had allowed him to provide for his family, putting all 3 children through
My Name is on Mom’s Checking Account (Part 2)
Last week we were discussing Melissa and her mom.   Melissa has been handling Mom’s finances for several years as agent under Power of Attorney – or so she thought. We discovered that actually Melissa is a co-owner on the account. She can still write checks, pay Mom’s bills, and access
My Name is on Mom’s Checking Account (Part 1)
It’s an issue I deal with frequently as an elder law attorney. Melissa tells me she has been handling Mom’s finances for several years. She writes checks from Mom’s checking account and transfers funds from Mom’s other accounts, as needed, to pay the bills. She says she does it because
Mom Has $1,000,000 – She’ll Never Run Out of Money (Part 2)
Last week we were discussing Paul’s mom, 88 years old and in need of nursing home care. She has $1,000,000 in assets so first impressions suggest that she won’t ever need Medicaid. But, upon further examination, we might want to reconsider that conclusion. Here’s why. Paul’s initial statement about never qualifying,
Mom Has $1,000,000. She’ll Never Run Out of Money (Part 1)
Paul called concerning his 88 year old mother who needs nursing home care. “She doesn’t have a power of attorney. I think she needs one”, he said. I concurred but our conversation didn’t stop there. As we always do, I asked him about Mom’s finances. “Her income consists of Social
No Luck with Medicaid? VA to the Rescue
Karl had been in an assisted living facility for several years and doing well there. His family felt fortunate. Although Karl didn’t have much in the way of assets he did have income from Social Security and a pension, totaling $5000. He also had a long term care insurance policy
The Best Laid Plans of Mice and Men
It was a call I received a number of years ago but one I’ll always remember. Don called regarding his mother’s need for long term care. Her health had been slowly declining but she was still living at home. Her investments were dwindling and she needed increase care. It was
COLA Increase Returns in 2012
The last 2 years have been especially tough on seniors, especially those on fixed incomes. That’s because there has been no cost of living increase since 2009 so Social Security benefits for millions of Americans have remained the same. Next year, however, the government has announced a 3.6% cost of
Death of a Guardian
Judy and her husband, Bob, had been appointed guardians for their son, Bill, years ago when he turned 18. Bill suffered a brain injury during his delivery at birth and had the mental capacity of an 8 year old. Eventually, Judy and Bob placed Bill in a group home where
Harry’s Law – Hollywood and Elder Law Collide (Part 2)
So, last week we were talking about Gloria and Abe, the subject of an elder law plot line on the NBC drama, Harry’s Law. Gloria wants to divorce Abe because she can’t afford the long term care that Abe needs without selling their house and leaving her destitute. A discussion