Articles Posted in Caregiving

The Centers for Disease Control and Prevention reports that there are 15,600 nursing homes in the United States and 1.3 million individuals who reside in nursing homes. While nursing homes inarguably a critical role in the lives of many people, they also introduce countless complications into a person’s lives. As people plan on passing on assets to their loved ones, they are often left with various questions about how assets can be passed on to loved ones. 

To make sure you are fully informed about asset ownership as a nursing home resident, this article reviews some critical details that you should understand. Even worse than knowing the answer to an estate planning question is receiving incorrect details. As a result, this article also focuses on dispelling some myths about estate planning.

Myth # 1 – Joint Owning Assets with Your Children Exempt Assets for Nursing Home Issues

If you’ve been considering making a gift to take advantage of the current lifetime federal estate tax emotions, you’ve likely considered the role that a spousal lifetime access trust could play in your trust. 

A spousal lifetime access trust (SLAT) is an irrevocable trust that is created for the benefit of your spouse. These trusts can also indirectly benefit a couple’s children as well as any other beneficiaries. After a SLAT is created, you can make the most of the lifetime tax exemption. This article reviews some important factors to consider in deciding whether a SLAT is the right idea for you.

# 1 – SLATs Let You Take Advantage of The Estate Tax Exemption

The case of In re Estate of Theodore George recently concluded, which involved a daughter who appealed a civil court’s determination that her deceased father was the sole owner of a vehicle at the time of his death and that the vehicle was part of the father’s estate at the time of his death.The deceased man purchased the vehicle in 1992. Later in 1994, the Vermont Department of Motor Vehicles issued a Certificate of Title to the decedent in his name only. The copy of the title contained no assignment of ownership to the daughter. In 2006, the deceased man submitted a Vermont Registration, Tax, and Title Application to the Department of Motor Vehicles.

The deceased man’s name was listed in the space provided on the form for the owner, while the daughter’s name was listed in the space for co-owners. A handwritten annotation next to the daughter’s name says “add co-owner”. The form also advised applicants to select rights of survivorship if more than one owner is listed, but the deceased man made no indication of the daughter’s role as a survivor. At the form’s bottom, the line for the co-owner’s signature was blank while the deceased man signed the form. No bill of sale accompanied the application. The DMV issued certificates naming both the daughter and the deceased man for 2012 to 2013, 2014 to 2015, and 2017 to 2018. 

The daughter appealed the case and argued that the deceased man’s act in changing the registration to reflect joint ownership transferred interest in the vehicle to her. In the alternate, the daughter argued that her late father’s act demonstrated his intent to make a gift of joint ownership. The Vermont Supreme Court later concluded that there was insufficient evidence that the deceased man transferred an interest in the vehicle to the daughter under either theory.

Guardianship is a court process. Guardians are only appointed if an individual is deemed to be incapacitated. The determination of incapacity is made using either a physician or a psychologist. If incapacity is only temporary, a temporary or emergency guardian is appointed. To navigate the guardianship process, it’s helpful for appointed individuals to be as informed as possible. As a result, this article reviews some critical details to appreciate the nature of these arrangements.

# 1 – How to Decide a Family member Needs a Guardian

Sometimes, disability or injury make it challenging for a person to make decisions related to health care, finances, or living situations. These situations might include a loved one who ends up in a coma, someone who is mentally challenged, someone who has suffered a stroke, or someone with a brain injury. If a court assesses that a person can no  longer make life decisions, the court will hold a hearing addressing that individual’s competency. To decide whether a person is incapacitated, courts will hold a hearing to review all of the available facts.

The Social Security Administration recently voiced concerns over a spike in reported Social Security scams. Additional data shows that the number of Social Security fraud cases has surged during the pandemic. The agency received more than 718,000 reports of telephone scams in the fiscal year ending September 30th which totaled nearly $45 million in losses. 

This number also marked an increase from 2018 when 478,000 cases of Social Security fraud occurred. Fraudulent calls during the pandemic also increased from less than 6,000 in April 2020 to over 100,000 in September. To better protect you and your loved one from being harmed by social security fraud, this article reviews the 4 most common types of Social Security fraud as well as what you can to avoid being harmed this way.

# 1 – Fraudulent “Criminal Act” Phone Calls

The value of carefully drafting a trust or will is emphasized by understanding the limited situations in which a court corrects mistakes that might arise in trusts or wills. The court’s response varies based on not the jurisdiction, but also often the type of estate planning mistake that was made. This article reviews some critical details to understand how New York courts various estate planning errors.

# 1 – Distinguish Capacity and Undue Influence from Mistakes

If a mistake is the result of the lack of competence by the testator or if the testator under the undue influence of someone else, courts often apply a different test to assess whether the will or estate planning document should be set aside. It’s sometimes the case that the concepts of undue influence, fraud and mistake are joined together, which can lead to substantial confusion.

Data reveals that approximately 70% of all adults in the United States who will live to the age of 65 will require long-term care. Because many of these older adults do not require the full degree of care provided by nursing homes or have limited finances, it is important to realize that alternatives to nursing homes exist. 

# 1 – Assisted Living

Assisted living facilities are often an excellent solution for elder individuals who want a mixture of both privacy as well as community interaction. 

Trying to care for an aged parent is a challenging and sometimes impossible-seeming task. Whether you live a few hours away from your parent or on the other side of the country, it’s common to end up whether you are providing your parents with adequate care. 

As a result, this article reviews some helpful tips to make sure that you provide the best long-distance care possible for an aging parent.

# 1 – Decide What You Can (And Can’t) Do

The covid-19 pandemic has disrupted many aspects of our lives. One of the most overlooked aspects of how the pandemic has altered our lives is the pandemic has led to increased reports of elder abuse and mistreatment. Despite the Centers for Medicare & Medicaid Services’ guidelines to provide appropriate care, various reports exist of clients dying in long-term facilities without access to family members. The National Clearinghouse on Abuse in Later Life organization also reports that elder abuses are utilizing the threat of the pandemic to provide misinformation to people. To better prepare elderly individuals and loved ones for navigating the current climate, this article reviews some critical details about elder abuse during the covid-19 pandemic.

# 1 – The Pandemic Has Led to an Increase in the Risk for Elder Abuse

The pandemic has led to an increase in the rate at which elder abuse is occurring for several reasons. On its simplest terms, the pandemic has resulted in elderly individuals being further isolated than ever before. Elderly individuals also have reduced access to healthcare as well as other essential services due to the pandemic. Consequently, abusers are more likely to get away with abusing elderly individuals. The pandemic has also reduced access to respite services for caregivers and increased that make individuals likely to be abusive. Consequently, the atmosphere is riper than ever for elderly abuse.

Adequate estate planning is a critical part of the divorce process, but it is frequently overlooked because people are worried about navigating many other aspects of the divorce process. 

Careful attention should be paid to the complex issues that arise when handling estate plans where a divorce action is either pending or has been finalized. You should continuously review and update your estate plan after separation and before filing a divorce complaint as well after filing a final decree of divorce.

To make sure that you engage in sufficient estate planning after a divorce, this article reviews some key strategies that you should make sure to review so you have the best chance possible of protecting your wishes after divorce and separation.

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