Continuing care retirement communities can be a great option for many people.  I can move into one community that can meet all my needs, from independent housing to assisted living to nursing home care as I need it.   

In Show 18 of his monthly elder law podcast, Yale Hauptman, a practicing elder law attorney, provides an overview of CCRCs, the pros and cons.  So often, he sees people enter into these financial arrangements without closely examining the 40+ page contract that typically the resident must sign.  The contracts often require a large upfront financial commitment.  What will the CCRC agreement cover?  What won’t it cover?  What happens if you run out of money?  What if the facility runs out of money? 
 
If you are considering a CCRC for yourself or a loved one you’ll definitely want to tune in first.

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The law allows every person to distribute property according to their wishes by a written instrument known as a Last Will. However, many people never execute one and miss that opportunity, the consequences of which can be devastating to loved ones.

In Show 17 of his monthly elder law podcast, Yale Hauptman, a practicing elder law attorney, discusses what can go wrong without a will. Each state has a set of laws that predetermines how assets will pass where there is no will, known as intestacy. That may not, however, be what you want. For example, assets may be left outright to heirs who shouldn’t or can’t handle the money or may end up in the wrong people’s hands.

Yale also discusses the difficult issues involved in second marriages where each spouse has different heirs who they wish to leave their estate. Without proper planning that won’t happen. Ownership of real estate in another state can also present a problem without planning. The bottom line is that without a carefully drawn plan your intentions and desire may not be carried out.

Tune in to learn what you need to do to safeguard yourself and your loved ones.

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Mom is unable to handle her affairs and either can’t or won’t accept assistance from other family members. Or maybe one child lives close by and is taking advantage of mom and other family members, who live a distance away, are frustrated in their attempts to protect mom. Is guardianship a solution?

In Show 16 of his monthly elder law podcast, Yale Hauptman, a practicing elder law attorney discusses when a guardianship is possible and when it isn’t. Does Mom need to be declared incompetent? How does that happen and what is the standard? Yale also discuss what options are available when a guardianship isn’t possible, such as a conservatorship.

If your family is grappling with these issues or you know someone else who is, then you’ll want to tune in to learn more.

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You’ve spent down the remaining assets on Mom’s care and have no more money left. You apply for Medicaid but are told, “Sorry, Mom’s not eligible for another 8 months.” How could this happen? What can you do to avoid this horrific outcome?

In Show 15 of his monthly Elder Law Today Podcast, practicing elder law attorney, Yale Hauptman, explains why spending down assets may not be as simple as you think. Medicaid rules are complex and it is easy to get tripped up. Well meaning citizens can unwittingly cause themselves to lose these essential benefits by creating transfers that are subject to a Medicaid transfer penalty.

Learn the danger of paying home health aides cash and why that could result in long penalty periods. Discover why gifts made 4+ years before Medicaid is applied for can come back to haunt you. More importantly, learn how you can avoid these Medicaid traps and how to correct the mistakes you’ve already made. If you wait till you apply it’s too late.

This episode is for anyone who cannot afford the cost of long term care indefinitely and may need to apply for government benefits at some time in the future. Important information that you’ll want to listen to carefully.

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So after listening to Show 13 you’re thinking, we should have taken action immediately after Dad’s diagnosis but didn’t so now what do we do? In the 14^th installment of his audio podcast, Yale Hauptman discusses just that scenario, crisis planning. Although the picture is more complicated all hope is not lost. Yale discusses some of the options still available to families, but timing is a key.

Yale explains how the home as an exempt asset under Medicaid rules can be used to help the healthy spouse preserve more than the maximum otherwise allowable under Medicaid rules. That could include buying a bigger house or making improvements on a current home. Learn why a reverse mortgage now is replacing a home equity loan or line of credit as the only option in crisis planning for many families. Yale also discusses ways to pay down debt that benefits the healthy spouse and other ways to help preserve hard earned money for the community spouse, who just won’t be left with much under current Medicaid rules without creative planning.

Be sure to tune in for a concise 10 minute discussion of Medicaid crisis planning that will give you an overview of what still is possible, even if you have failed to early action, but time is running out.

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In the first show of Season 2 of his Elder Law Today Podcast, by listener request, Yale Hauptman has modified the format and shortened the length of his audio podcast. In a concise 10 minutes, Yale presents a common scenario that many families today are faced with. Dad has just recently been diagnosed with early stages of Alzheimer’s Disease (you can substitute any other long term care illness because the issues remain the same). What lies next for Mom and Dad? What should the family be doing and when?

Yale runs through the planning strategies that ought to be employed to insure the best care possible for Dad, preferably at home rather than in a nursing home, and also to protect Mom so that all their hard earned savings are not spent on Dad’s long term care, leaving Mom with very little to live on.

Yale provides an overview of the long term care system, the benefit of setting aside assets in trust and the various government benefits, including VA and Medicaid, that may be able to play a role in Mom and Dad’s journey through the long term care system. Learn why it is so important to take these steps as soon as possible and why inaction can be so costly.

Episode 13 is a can’t miss listen for families who are unsure what to do and where to start.

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In show number 12 Yale Hauptman, a practicing elder law attorney sits down with Barbara Salvador of Nannymama.com and Barbara Friesner of Agewiseliving.com, a generational coach and author of “The Ultimate Caregiver’s Guide” to discuss how to have “the talk” with aging parents.

Generational differences and lack of communication pose some real challenges to children who are trying to help care for their parents. So many families never discuss long term care and finances until a crisis hits and that’s just too late. If you find yourself in the situation of not knowing what plans your parents have in place, what their wishes are with respect to long term care, or where all their important legal documents are – and you have no idea how to start the conversation - this is a must listen.

As with any interpersonal relationship, communication is paramount. How we say things is as important as the content itself. Yale and his guests discuss the best way to break the ice and the dos and don’ts of approaching a very difficult topic in a way that is sensitive to the fears and concerns of aging family members, intending to bring families together, instead of pulling them apart.

This 12^th show contains valuable information that every family will find helpful in dealing with some of the most challenging issues we all face today.

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Much has happened in both the economic and political arenas since the last show, including the steep drop in the stock markets and the election of President Obama and changing of power in Congress from Republican to Democrat. In show number 11 of his podcast, Elder Law Today, practicing elder law attorney, Yale Hauptman discusses how this all will affect the average American who needs long term care.

Some of these changes have already begun to occur. Yale explains how rising unemployment, the government bailout of failing financial companies and the drop in stock markets and thereby, people’s savings, have all combined to create a “perfect storm” of conditions that will cause State Medicaid offices to delay and deny a greater number of Medicaid applications for long term care.

He discusses some of the scenarios in his office where this is already happening. Take the case of the daughter who took cash out for Mom over the years but didn’t keep good records as to how it was spent or the son who paid for Mom and Dad’s care at home out of his own funds when they had none left and now wants to be reimbursed from the sale of their home when they enter a nursing home. In both cases Medicaid has scrutinized these transactions and delayed approval.

We are now almost 3 years removed from the last round of changes to the Medicaid laws instituted under the Deficit Reduction Act (DRA). Learn why this law will have even more impact on the ability to qualify for government benefits as we go forward.

This 11^th show is one you can’t afford to miss, with information and ideas that you need to act on now to be sure to protect yourself and your loved ones going forward. Be sure to tune in.

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In show number 10 of his podcast, Elder Law Today, practicing elder law attorney, Yale Hauptman interviews Anthony Aiello, a compliance officer at Commerce TD Bank on the hot topic of FDIC insurance. For many Americans, the collapse of financial giants such as Lehman Brothers, AIG, Merrill Lynch and Wachovia reminds them of other troubled economic times. Many seniors grew up during the Great Depression of the 1930’s and remember the Savings and Loan scandal of the late 1970’s and early 1980’s. The FDIC insurance program was instituted in the 1933 to protect depositors who lost money when their banks went under. Many Americans are now concerned once again about whether their assets are protected.

Yale and Anthony discuss the basics of how this insurance coverage works. Learn about the ways to stretch the amount of insurance coverage well beyond the $100,000 limit which most people assume, erroneously, is the maximum. There are different categories of accounts, which are treated separately for insurance purposes. For example, coverage for IRA and other retirement accounts is now $250,000 per person.

In his “In the News” segment, Yale discusses a recent government inquiry into accusations that a company which owns assisted living facilities in 20 states is kicking out residents once they have run out of money and apply for Medicaid. He also discusses a recent court case which highlights the pitfalls of having a joint owner on a bank account who then applies for Medicaid. In that New Jersey case, the judge sided with the applicant but learn why the fight may not yet be over. Finally, Yale talks about a new federal law effective October 1, 2008, intended to protect Americans from abusive practices in the sale of reverse mortgages to seniors.

This 10^th show is timely and informative in light of the current turbulent economic times. Be sure to tune in.

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Visit the FDIC website for more information.

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In show number 9 of his podcast, Elder Law Today, practicing elder law attorney, Yale Hauptman welcomes as his guest Lauren J. Siegel, a registered nurse and certified life care planner. Lauren explains how she is typically brought into lawsuits brought by parents of disabled minor children and asked to devise a plan of care covering the various needs that the child may have over his/her life.

Yale and Lauren then discuss how this same planning is just as important to elderly parents of adult disabled children. Parents must address care issues for those children after they pass away and how to fund it. Yale points out that any assets intended to fund that care must be properly set aside while the parent is healthy or risk being spent down entirely for the parent’s long term care needs, leaving nothing for the child’s needs. Lauren offers some suggestions for parents to consider.

Yale also introduces a new “In the News” segment. He discusses a recent Pennsylvania court case that highlights the need to be specific in a power of attorney as to what gifting powers are given to an agent. He also discusses a recent Connecticut case in which a child was held responsible financially to pay mom’s nursing bill when he failed to immediately provide all information and documents necessary to complete her application for Medicaid benefits. Yale also updates listeners on a bill introduced in Congress to extend the federal estate exemption amount to $3,500,000 for 2010 and beyond and highlights the continuing trend by employers to provide services to their employees who are caring for elderly parents and loved ones.

This 9^th show is packed with important information that anyone who is elderly or caring for, or concerned about, an elderly loved one, won’t want to miss.

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Visit Lauren's LJS Healthcare website

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In show number 8 of his podcast, Elder Law Today, practicing elder law attorney, Yale Hauptman, discusses some real life case studies to illustrate how the Medicaid laws can trip people up and cause much stress and financial loss for the unprepared and unwary.

Yale first discusses the case of the granddaughter caring for her grandmother full time, with Grandmom providing the funds to support both of them. Things go wrong when Grandmom’s condition deteriorates to the point where nursing home care is necessary and the money has run out. Learn the mistakes that this family made and why it has become much harder to fix them under the new Medicaid laws.

Next, Yale discusses a call he received from a son in Mississippi who took in his parents to his own home, moving them from New Jersey. The parents transferred their home to Son, who then put it up for sale. The plan fell apart when Dad took ill and needed nursing home care much sooner than anticipated. He applied for Medicaid and was denied because of the home transfer. The Medicaid caseworker told the family they would need to transfer the home back and spend down the sale proceeds before Dad could then qualify. Learn why their course of action was the wrong one for more than one reason and what they could do fix it and immediately qualify Dad and preserve the funds for Mom.

Yale then discusses the call he received from the frantic daughter who was sued by the nursing home when, after 8 years, Mom lost her Medicaid eligibility. The nursing home sought $80,000, the private pay cost of care for Mom. Why did it happen and what do you need to do to prevent it from happening to your family? Tune in.

The final case study concerns a couple who was unprepared when suddenly Husband took ill, needing nursing home care. They were told that he would qualify for Medicaid but that some amount of money would have to be spent down first. Unfortunately, Wife did not fully understand the urgency and did not spend down to the necessary levels for 6 months. The nursing home presented them with a bill for $70,000, the private pay amount for that period of time, for which Medicaid will not cover. Yale talks about why this outcome didn’t have to happen and what could have been done to avoid it.

Yale also takes time to answer some more listener emails. Learn what to do when a bank resists honoring a power of attorney that is presented to it. This 8^th installment is sure to answer many of the questions you have about common elder law issues.

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In the seventh installment of his podcast, Elder Law Today, Yale Hauptman focuses on seniors and their home.

Sometimes the senior can’t stay at home any longer. Yale discusses with Dan Yanofski, the owner of Elite Realtors of New Jersey, some of the challenges he faces in helping seniors sell their homes. Dan shares his opinions on how to make a home more marketable when it is a bit outdated and the two talk about when is the best time to sell.

For others, staying at home is still a viable option, but some assistance in needed. Yale sits down with Murray Goldsmith, of Spectrum Home Services, whose company, among other services, provides assistance to senior homeowners in making their home a safer place to live. Murray and Yale go from room to room as Murray explains how, in some cases, relatively small modifications can make it easier and safer for a senior to navigate through his/her home and help minimize the risk of a life changing accident.

Yale also takes time to answer listener emails on such topics as whether a power of attorney can be too old, the advantages and disadvantages of making a child a co-owner on a parent’s bank account and whether Medicaid or the nursing home can take your home away from you. Another information packed show that you won’t want to miss.

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Elite Realtors of New Jersey 973-994-9009

Spectrum Home Services 973-251-2543

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In the fifth installment of his podcast, Elder Law Today, Yale Hauptman, takes Elder Law Today on the road to a Caregiving Symposium he spoke at recently.  Yale interviews a geriatric care manager, a contractor who makes modifies homes for the elderly and other vendors who attended the symposium about the variety of services they provide to the elderly.

In the second segment Yale discusses in greater depth the Veterans Administration Aid and Attendance program, which provides wartime veterans and their spouses who qualify, as much as $1800 per month of additional income which can help pay for home based care and assisted living care.  Learn the details of this little known program and why so many people have been incorrectly told by the VA that they don’t or can’t qualify.  Yale talks about terms such as income for Veteran Administration purposes and unreimbursed medical expenses and why they don’t mean what you might think.

Listen to Yale explain the income and asset levels that must be met and how they differ from those of Medicaid.  Yale cautions that in taking the steps necessary to obtain the VA benefit you must be careful not to leave yourself ineligible for other government benefit programs such as Medicaid that might be needed further down the road of what Yale refers to as the elder care journey.  Yale explains how it is possible to preserve eligibility for both programs.  This is definitely a program you won’t want to miss.

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In the third installment of his podcast, Elder Law Today, Yale Hauptman, a practicing New Jersey elder law attorney, answers listeners’ questions by phone and email. Yale corrects common misconceptions people have about some of the basic legal issues facing seniors today. For example, Yale explains that making gifts up to the annual gift tax exclusion amount will carry a Medicaid transfer penalty. Yale explains what probate is and why you don’t necessarily have to fear and avoid it.

Learn why it is a good idea to have a will and not rely on a state’s intestacy laws to distribute your assets. Is it a good idea for a parent to transfer his/her home to the children? Yale discusses the pros and cons to consider from a Medicaid, tax and long term care perspective.

Yale answers a caller’s question on a little known Veterans Administration benefit that can provide much needed additional monthly income to be used for home care and assisted living care. These are just some of the topics covered in a very informative and enlightening evening.

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In the debut of his podcast, Elder Law Today, Yale Hauptman, a practicing New Jersey elder law attorney, explains what elder law is and how an elder law attorney can be a valuable counselor to seniors and their families.  Learn how elder law differs from traditional estate planning.  A will, while important, addresses only one scenario, what happens when one dies.  Elder law, however, encompasses so much more, what can be termed life planning or long term care planning.  In other words, what happens if I don’t die, but instead have a lengthy illness, need increased care, (ie. home care, assisted living, or nursing home care) and do not have the funds to pay for it indefinitely.  

      Yale discusses the need to have a plan in place, one that includes the necessary documents (ie. power of attorney, health care directive, will, trust) but also brings the family together to work towards a common goal of assisting the senior family member to tackle head on the legal and social issues associated with aging and navigating through the maze of laws and available government benefits. 

      In the second segment, Yale interviews his first guest, Matthew Glass, a certified special needs advisor.  Matthew explains how he assists young families with special needs children.  Yale and Matthew then discuss how special needs planning will increase in frequency as parents age and are faced with their own long term care needs.  Because that care is expensive, without proper planning they may be forced to spend most or all of their assets on their own care, leaving nothing for their children with special needs.  A specifically tailored plan, usually involving a special needs trust, can avoid this drastic result and provide peace of mind to families.

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Here is how you can contact Matthew Glass

732-632-5854 or 800-333-7964 visit the The RHG Group Website

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