An experienced elder law attorney can help you develop a long-term care plan, which is a beneficial planning tool, regardless of your age. The long-term care plan should include: Where you want to live as you age How you want to be cared for Who will make medical decisions Who will make financial decisions How [...]
No one wants to make life or death decisions for a loved one. The burden of making the toughest end of life decisions is one that will greatly impact your family, and their emotional well being. You may think that the person you chose to make these decisions knows what you want, but do they [...]
Protecting Assets from the Cost of Long-Term Care- Cleveland Elder Law Attorney Long-term care costs can include a variety of things, such as home care, assisted living facility fees or nursing home care. Unfortunately, it doesn’t tend to take long before a family’s savings is depleted when a loved one needs care. Because of this, [...]
Many people think that they don’t need to worry about financial planning when thinking about long-term care, assuming that their spouse will be able to access and manage their assets. In reality, your spouse may not be able to withdraw from various investments, including your Individual Retirement Account (IRA), even if the funds will be [...]
Because the services provided in a continuing care retirement community evolve throughout the time of residency to accommodate the needs of the residents, the rate charged will increase. There are three types of contracts commonly seen in CCRCs: extensive, modified and fee-for service. Extensive Contracts The extensive contract is an attractive option for many, as [...]
There are more salespeople selling annuities and life insurance than you can likely count. While some have good products and services to offer, some are just looking to gain access to your financial records and accounts. These tips should help you determine what is a safe bet, and when to run for the hills. If [...]
Unfortunately, as more attention is given to elder law, nursing home care and estate planning, more and more people flock to the industry. While many are ethical folks that are committed to helping you and your family through a very difficult time, some are also just arriving on the scene in hopes of making a [...]
No one wants their affairs to go to probate court when they are sick and in a nursing home or a hospital. Probate court is not private, anyone can access your estate records. The only way to avoid probate court is to plan ahead. If you fail to plan ahead, probate court will appoint you’re [...]
Do you think that because your elder loved one has a power of attorney they are protected? What many people do not realize is that a normal power of attorney ends when the person who makes them loses mental capacity. In cases like Alzheimer’s and dementia, this leaves person vulnerable. A durable power of attorney [...]
In addition to Living Trusts, there are additional trusts that may be appropriate for your loved ones situations. As with any legal trust situations, it is best to consult with an experienced elder law attorney to determine what is the best option for your needs. Testimony Trusts The Testamentary Trust is created in the will, [...]