Jarvis Law Office

The Power of Attorney: Everything You Need to Know for Elder Care Planning

There’s more than just one type of Power of Attorney (POA) available for elder law purposes. They include medical, financial, real estate only, durable, and springing Powers of Attorney. The two most common, though, are durable and springing. The following explains everything you need to know about the two and how they impact your elder care planning.

It’s important to note the differences between a springing POA and a durable POA. While both documents allow your agents – the person or persons you choose to represent you – to handle your financial affairs for you, they take effect at different times. A springing POA gives your agent authority to act on your behalf if you are deemed medically unable to make financial decisions for yourself. Once you’ve recovered and can make your own decisions again, your agent may no longer make financial decisions for you.

A durable POA gives your agents the authority to act on your behalf at the moment the document is signed. The only way your agents may lose that ability is if you draft a new power of attorney and remove their authority. While springing POAs are used in elder care planning, the fact that the power granted to agents in a durable power of attorney does not go away after a certain time makes it a type that is most often used in elder law.

As many seniors have found out, it becomes more difficult to get to the bank and handle financial tasks. Oftentimes, seniors do not want the responsibility of paying bills each month and would rather have someone else handle it. For these reasons, a durable power of attorney makes it easier for adult children or caretakers to handle financial affairs for their parents or elderly loved ones. In other cases, the transition from senior to agent becomes easier if the senior were to suddenly become incapacitated and can no longer make decisions since the agent can seamlessly move into the role of financial caretaker without the need to involve a doctor.

If you have more questions about creating a power of attorney as part of your elder care planning, or if you’d like to have your current power of attorney reviewed to make sure it still fits your needs, please contact our Ohio elder law office at 877-653-3450 to schedule a complimentary initial consultation.

Planning for Medicaid with Annuities

The thought of a spouse having Alzheimer’s and needing long-term care at a nursing home can bring on a lot of anxiety, especially when logistical concerns and care coordination issues are brought to the forefront of the move. When you throw any sort of financial planning for Medicaid eligibility into the mix, you’re just adding more stress to the situation. This is because there are strict asset limits that must be followed by the healthy spouse, otherwise known as the community spouse, and asset and income limits that must be followed by the spouse needing medical care. One financial plan to qualify for Medicaid eligibility is to use an annuity.

For this plan to work, a large amount of cash is used to purchase an annuity which guarantees future payments in the form of income over the community spouse’s lifetime. While the spouse requiring Medicaid must adhere to both income and asset limits, the community spouse has no limit placed on the amount of income he or she can earn. In executing this asset protection plan, the spouse applying for Medicaid benefits purchases an annuity with his or her own assets, and that annuity would then be used as income for the community spouse.

Please understand that this is a simplified explanation of how annuity planning for Medicaid eligibility works, which is why it’s important to consult with an experienced Ohio elder law attorney before you take any actions. For example, all annuity payments must be made before the end of the community spouse’s life expectancy, and the state of Ohio is required to be named as the primary beneficiary of the annuity following the community spouse. This is to ensure that the remainder of the annuity payments return to the state in repayment of the Medicaid benefits. The annuity must also be purchased commercially, which means that a private annuity agreement between family members would disqualify an applicant from Medicaid eligibility.

There are several other rules and regulations with regards to asset protection strategies featuring annuities covering topics such as transfers, revocations, and community spouse life expectancy, and the amount of money in each monthly annuity payment. It’s best to consult with an experienced elder law attorney who knows the ins-and-outs of planning with annuities to achieve Medicaid eligibility.

If you have more questions about planning with annuities for Medicaid, or if you’re currently applying for Medicaid for a loved one with Alzheimer’s and would like some advice, please contact our Ohio elder law office at 877-653-3450 to schedule a complimentary initial consultation.

The Living Will: Everything You Need to Know for Elder Care Planning

The Living Will, along with the Power of Attorney, Last Will and Testament, and Revocable Living Trust, is a core document that everyone should have when making an elder law plan. Sometimes called a medical Power of Attorney, the Living Will serves two main purposes when it comes into use when a person is incapacitated and cannot make their own health care decisions: It names health care representatives to act on the person’s behalf and informs health care providers of the person’s wishes regarding medical treatment.

The most important aspect of creating a Living Will is choosing a health care representative, or representatives. The representative should be someone who is trusted enough to make hard decisions regarding medical care as they often must make difficult choices concerning end of life and palliative care. This is why the representative needs to be fully aware of their responsibilities. If you’re considering making a Living Will, speak with your potential health care representatives to make sure they’re up to the task. You’ll also want to explain why you chose them to make medical decisions for you. An experienced elder law attorney can give you advice on the best way to bring up the subject, as well as provide a comprehensive explanation of a health care representative’s responsibilities.

The Living Will also gives instructions about the type of medical treatment you want to receive to both your health care representatives and your medical professionals. These instructions mainly deal with end of life care but also cover any type of medical care that’s needed while you’re incapacitated. The Living Will provides instructions on any means of artificially extending life, including the placement of feeding tubes and ventilators.

A common misconception is that a Living Will serves the same purpose as a Do Not Resuscitate (DNR) order. While the two can be used in conjunction with each other concerning end of life care, they are actually two different forms. A DNR only provides instructions in case of imminent death, while a Living Will covers much more. One last important thing to note is that your health care representatives and medical professionals are bound by law to follow your wishes as described in your Living Will. You should speak with an experienced elder law attorney about your current medical condition and the types, if any, of end of life care you wish to receive so that your Living Will can follow as close to your wishes as possible.

If you have more questions about creating a Living Will, or if you’d like to have your current Living Will reviewed to make sure it still fits your needs, please contact our Ohio elder law office at 877-653-3450 to schedule a complimentary initial consultation.

5 Tips for Alzheimer’s Caregivers

Whether you’re a spouse, child, or loved one, caring for someone with Alzheimer’s is a daunting task that will impact both your professional and personal life. You’ll have to provide care for a loved one during this difficult time, while also making sure that you stay up to the task. Below are five tips to help you cope while giving care to a loved one with Alzheimer’s:

Join a Support Group

Many Alzheimer’s caregivers feel that they’re suffering alone, but the fact is that Alzheimer’s is a disease that impacts 15 million caregivers in the United States. Since the disease is so prevalent, there are numerous support groups out there to help caregivers cope with the stress they feel. You’ll connect with people who are going through the same experiences as you, and hopefully, you can help each other through this difficult time.

Accept Help from Family and Friends

Just because you’re a primary caregiver for an Alzheimer’s patient, it doesn’t mean that you can’t ask for and accept help from your family and friends. Sharing the burden can help you avoid burnout and give you a chance to seek respite care during those times when you must focus on your own life.

Stay Healthy

You won’t be any use to your loved one if you wear yourself down and become sick. Check in with your general practitioner regularly to make sure you’re staying healthy, and try to stay active with light exercise to ensure you stay in shape. You should also focus on your sleep habits as a lack of sleep can lead to some serious health consequences down the road.

Speak with a Therapist

Sometimes the stress of caring for a loved one with Alzheimer’s is too much to bear and can lead to anxiety and depression. When this happens, you won’t be able to provide the best care possible for your loved one. That’s why it’s important that you seek out a therapist you feel comfortable speaking to, and if possible, has experience working with people in similar situations.

Consult with an Experienced Elder Law Attorney

Families and caregivers of Alzheimer’s patients often struggle to find the right care centers for their loved ones and ultimately how to pay for those care centers. An experienced elder law attorney can help you navigate the complex world of public benefits to make sure you can find and pay for the care your loved one requires.

If you have more questions about caring for a loved one with Alzheimer’s, or if you’d like to speak with an experienced elder law attorney regarding Alzheimer’s planning, please contact our Ohio elder law office at 877-653-3450 to schedule a complimentary initial consultation.