Elder Law - Elder & Estate Planning Attorneys

Can You Safeguard Against Long-Term Care Emergencies with Proactive Medicaid Planning?

As a Florida senior, are you prepared if you have a potential need for long-term care? Did you know that as we age, the chances of requiring some form of long-term care increases. In fact, advance planning for Medicaid is an important step in preparing in advance for long-term care. Sadly, many elders and their families put off any planning until it is too late, often resulting in a crisis situation where options are limited and decisions must be made hastily.

Is there a way to avoid this stressful situation? Yes, by understanding and acting on the benefits of early Medicaid planning a person can be sure to receive the best care possible without undue financial strain. Do you have questions? We want to share four important ways that advance planning for the need for long-term care, and Medicaid, can help.

Recognizing and understanding the urgency. Often families put off thinking about long-term care, believing it is a concern for the distant future. However, the reality is that the need for care can arise unexpectedly and leave families unprepared. In addition, putting off planning can limit a person’s options for care and significantly impact the quality and cost of the care they receive. Recognizing the need for early planning is the first step in avoiding a long-term care crisis.

In order to access more strategies, it is necessary to begin planning early. The earlier a person begins planning for Medicaid and long-term care, the more options they will have available. What will early planning do? Early planning will allow you to:

Preserve assets. Properly strategizing asset preservation can ensure that a person may qualify for Medicaid while retaining as much of their hard-earned assets as possible.
Explore various care options. With more time to plan, a person can explore different types of long-term care services and facilities, choosing the one that best suits their needs and preferences.
Implement trusts. Certain trusts and asset transfers can be used as legal strategies to protect assets, but they often require a look-back period. Early planning means you may have the time you need so these strategies can be utilized effectively.

Learn about public benefits programs. Researching and figuring out the complexities of Medicaid and other public benefits programs can significantly reduce the burden of long-term care costs. However, these programs are often complex and have stringent qualification criteria, including asset and income limits. Understanding the eligibility requirements for Medicaid and how to structure your assets to qualify can be complex. Early planning allows time to structure finances accordingly without rush, and determine if it is right for your situation.

Be sure your Florida estate plan includes a Durable Power of Attorney. A critical component of advance planning is establishing a durable power of attorney. This legal document allows a person to appoint someone they trust to make decisions on their behalf if they become incapacitated. A durable power of attorney can give their chosen agent the authority to manage their finances and apply to access public benefits, ensuring that their wishes are carried out even if they are unable to communicate them.

Most important is the need to work with an experienced Florida Elder Law Attorney. This is an attorney specializing in elder law and Medicaid planning who can guide a person through the application process, ensuring that they take full advantage of available programs and avoid common pitfalls that can lead to delays or denials.

Finally, planning in advance for Medicaid and long-term care is not just about securing financial resources; it is about ensuring that a person receives the care they deserve when they need it. Remember, it is never too early to start planning, and the peace of mind that comes with being prepared is invaluable.

We know this article raises more questions than it answers. We know this article raises more questions than it answers. Elder and Estate Planning Attorneys, PA, is a law office small enough to provide personal service but large enough to provide service in Jupiter, as well as Palm Beach, Martin, St. Lucie, and Indian River Counties in Florida. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and more. We encourage you to contact us and schedule a meeting with our attorneys.

Key Estate Planning Tips for Consideration in Digital Asset Management

Are you aware that in this digital age, Florida estate planning has become more complex? One reason is because of the increasing presence of digital assets that need to be planned for. What do we mean by digital assets? Digital assets refer to any form of content or information that exists in a digital format and holds value to individuals or businesses. Know that these assets encompass a wide range of items, including online accounts, social media profiles, cryptocurrencies, digital photos and videos, intellectual property, and more.

It is important to recognize that the value of digital assets can be both financial and sentimental. By working with your experienced Florida estate planning attorney you can include provisions for the management, distribution, or preservation of these assets in your estate plan to ensure that your digital legacy is properly created. Because of their unique nature, digital assets may require more strategic planning which your experienced Florida estate planning attorney may assist you with.

Now, as digital assets continue to become both more complex and more prevalent, we have a few key estate planning tips in digital asset management that we share with many of our clients today.

You need a detailed inventory. You need to begin by creating an inventory of all your digital assets. You should have a list of all your platforms, accounts, and any associated login credentials. It is important to keep this inventory updated and stored securely.

You need to review the terms of service for each of your assets. We know that this is a constantly evolving area and can be subject to change at any time, usually at the sole discretion of the company that created the digital asset. So be sure to familiarize yourself with the terms of service and user agreements of the platforms where your digital assets reside. Be aware that some platforms have specific provisions regarding the transfer or management of accounts upon the user’s death or incapacity although this is not the norm.

You need to give authority to your agent, your personal representative, and your trustee. You need to be sure that each of these three individuals, or one individual depending on the nature of your Florida estate plan, has the specific written authority to manage and dispose of your digital assets.

You need to create a central password manager for digital assets that are in your Florida estate plan. You could think about using password manager applications to securely store and manage your login credentials. Under the guidance of your Florida estate planning attorney you may want to go a step further and provide your future decision maker with the necessary access credentials to this central password manager account. While this will include usernames and passwords, it may also include two-factor authentication methods.

You need to specify digital asset distribution. You need to work with your experienced Florida estate planning attorney to clearly outline your wishes for the distribution or disposal of specific digital assets in your Florida estate plan. This can include transferring ownership, deleting accounts, or preserving certain assets for sentimental or historical purposes.

You need to regularly review, update, and manage your digital accounts. Digital assets and online platforms evolve rapidly as opposed to the ownership and access to more traditional assets such as real property. You need to regularly review and update your Florida estate plan to reflect any changes in your digital asset inventory, platforms, or preferences.

By incorporating these key estate planning tips in digital asset management, you can better manage and protect your digital assets, ensuring that your digital legacy is handled according to your wishes. Remember, working with your experienced Florida estate planning attorney in this area is critical to remain up-to-date with changing laws and technologies that could impact your goals for your digital assets.

We know this article may raise more questions than it answers. Elder and Estate Planning Attorneys, PA, is a law office small enough to provide personal service but large enough to provide service in Jupiter, as well as Palm Beach, Martin, St. Lucie, and Indian River Counties in Florida. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and more. We encourage you to contact us and schedule a meeting with our attorneys.

Safeguarding Your Legacy by Avoiding Common Mistakes in Will Creation

Did you know that creating a last will and testament is an essential and often overlooked aspect of responsible lifetime planning? It is a testament to your lifelong efforts to provide for yourself and those you love most. When you take the time to develop not only a last will and testament but an estate plan, you are ensuring that your hard-earned assets and cherished possessions are distributed according to your wishes after you pass away and that there are protections in place to take care of you in the event of incapacity during your lifetime.

A well-crafted Florida estate plan must be clear, specific, and unambiguous to avoid confusion and potential conflicts both during your life and at the time of your passing. Vague language or poorly articulated instructions could leave room for interpretation, leading to disagreements and estrangements among family members or other beneficiaries.

Unfortunately, many individuals make the critical mistake of attempting to create a will without seeking professional guidance from an experienced Florida estate planning attorney.

Consulting with a Florida estate planning attorney allows you to express your wishes precisely and in a legally enforceable manner, leaving no room for doubt. Deciding to create a Florida estate plan is a life changing decision. When you decide to be proactive and not only make a Florida estate plan to create your legacy but also to protect those you love during your lifetime and at the time of your passing, you are setting intentions to protect your future. While creating a last will and testament is an essential part of your Florida estate planning, it is crucial to do so correctly to ensure your final wishes and goals can not only be reached but are carried out smoothly.

Unfortunately, many individuals make the critical mistake of attempting to create a will without seeking professional guidance from an experienced Florida estate planning attorney. Although the notion of creating a do-it-yourself last will and testament might appear attractive due to its potential cost-saving allure, it can ultimately result in substantial legal and financial entanglements in the future. On the other hand, entrusting the task to an experienced Florida estate planning attorney proves invaluable as she brings her expertise to the table. By skillfully navigating the complexities of the legal landscape, your Florida estate planning attorney can ensure that your entire Florida estate plan remains not only legally sound but also thoughtfully designed to mitigate any potential disputes and alleviate tax burdens on both your beloved family members and your lasting legacy.

We know you have questions on how to avoid the biggest mistakes out there when it comes to Florida estate planning. Let us share ways to avoid the biggest mistakes people make when creating not only their Florida will but their Florida estate plan.

Seeking counsel from an experienced Florida estate planning attorney is paramount. Among the most critical errors individuals make is attempting to craft a will or estate plan without the guidance of a seasoned professional. By consulting with an experienced Florida estate planning attorney, you can adeptly navigate the intricate legal intricacies, ensure the plan you develop together is legally valid and binding, and effectively diminish the likelihood of disputes arising following your passing.

Make a habit of regularly updating your Florida estate plan. Life is full of changes, including marriages, divorces, births, deaths, and acquiring new assets. To ensure your Florida estate plan accurately reflects your current desires, it is crucial to periodically review and update it with your Florida estate planning attorney, particularly when significant life events occur. By staying proactive, you can maintain a well-tailored plan that aligns perfectly with your evolving circumstances and wishes.

Always consider contingencies when planning your estate. Collaborate with your Florida estate planning attorney to prepare for various scenarios in the event that your primary beneficiaries pass away before you do. By designating contingent beneficiaries, you guarantee that your assets will be distributed according to your wishes, even if the initial beneficiaries are no longer alive. This thoughtful approach to estate planning ensures that your legacy remains intact, regardless of unforeseen circumstances.

Do not forget to include digital assets. In the digital age, it is essential to address your digital assets, such as online accounts, social media profiles, and digital files. Specify how you want these assets to be handled after your death.

Store your will securely. Ensure your Florida will, and your entire Florida estate plan, is kept in a safe place and that your executor and trusted family members know where to find it. A safe deposit box or secure digital storage are good options but discuss with your Florida estate planning attorney to see what is recommended.

Effectively communicate your wishes. Though not a legal obligation, engaging in open discussions about your will and estate plan with your family can significantly mitigate misunderstandings and potential conflicts in the future. Moreover, selecting the appropriate personal representative to manage your estate upon your passing is crucial to ensure a smooth and faithful execution of your wishes. By thoughtfully discussing your plans and choosing a responsible representative, you foster an environment of clarity, trust, and harmony that will safeguard your legacy and bring peace of mind to your loved ones during challenging times. Before you take this step, discuss the pros and cons with your Florida estate planning attorney.

We know this article may raise more questions than it answers. Elder and Estate Planning Attorneys, PA, is a law office small enough to provide personal service but large enough to provide service in Jupiter, as well as Palm Beach, Martin, St. Lucie, and Indian River Counties in Florida. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and more. We encourage you to contact us and schedule a meeting with our attorneys.

When Should You Initiate Your Estate Planning Process?

Are you currently living in Florida? Are you healthy, with a growing family, active lifestyle and thriving business? However, have you begun to wonder the following: when should you initiate your estate planning process? Be aware that a Florida estate plan is a crucial tool for all adults to have. Estate planning allows us to think about what we want for ourselves, our loved ones, our business, and our legacy. Although it addresses what happens at the end of our lives, it is so much more than that. Estate planning makes us answer tough questions including, but not limited to, what would happen if we no longer have the capacity we need to make our own decisions, who do we want in charge of our finances if we are incapacitated or who should be our beneficiaries?

Understanding you need a Florida estate plan is the first step forward to plan for your future. The next step is to ask: When should you initiate the process to create your estate plan? As Florida estate planning attorneys, we are frequently asked this question and want to share five important events with you.

When you become an adult. Think your 18th birthday is too young? Think again, it is not! If you do not have a Florida estate plan in place, there will be no one who has legal authority to make decisions for you in the event you are in a car accident or other crisis. In other words, no one will be able to pay your bills, access your bank accounts, or talk to your doctors. Your Florida estate planning attorney can work with you to create an estate plan that will protect you and let you name the people you want to be in charge of you in a crisis in your documents. Your estate planning attorney can also talk to you about how to create a legacy and plan for a time when you are no longer here.

When you are planning to get married. Marriage is a wonderful event and you will want to plan with the person you love for your life together. It is an opportunity to think about how you want to protect and provide for each other. There is no better way to do that than with a Florida estate plan.

When you begin to have children. When you have children, planning becomes even more important. You need to begin to think about and answer questions like: Who should care for my children if something happens to me? When should they inherit? How can I provide for their future if I am no longer here? These are the questions your Florida estate plan can answer when you work with an estate planning attorney.

If and when you receive an inheritance. It does not matter if you receive a small or large inheritance, it is important to protect it. The person who left you this money may have had clear instructions for you that you want to copy in your own estate plan or you may have inherited through a messy process that you do not want others to go through. Whatever your reason, this is a good time to meet with your Florida estate planning attorney and plan forward.

When you are beginning to start your own business. It is important that during your start up process to consider all the ways to protect yourself, your family, and your business from what comes next. Your Florida estate planning attorney can not only help you design your estate plan but may also be able to advise you on your new business.

We know this article may raise more questions than it answers. Elder and Estate Planning Attorneys, PA, is a law office small enough to provide personal service but large enough to provide service in Jupiter, as well as Palm Beach, Martin, St. Lucie, and Indian River Counties in Florida. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and more. We encourage you to contact us and schedule a meeting with our attorneys.

Estate Planning Considerations for Your Adult Children After Your Remarriage

As a Florida senior, are you considering remarriage? However, should there be estate planning considerations for your adult children once you remarry? As a senior adult you have experienced many important events like marriages, births, divorces, deaths, and separations and they play an important role in your daily life. While you think in depth about the ins and outs of each of these occasions, should you think about them in the context of your Florida estate planning?

As you think about your remarriage, were you aware that statistics tell us that for 55 year olds, and older, the remarriage rate has grown from 24 percent in 1960 to 57 percent in 2013? This is now more than any other age group. As you plan for your future nuptials, have you considered how your remarriage will impact your estate plan, including your planning for your adult children? Do you want to be sure the assets from your first marriage are available to them when the time comes that you are no longer here? Below are some considerations for you to think about when it comes to protecting your adult children in a second marriage.

Take into consideration your existing asset structure and protect it. With seniors remarrying more often, they are usually the age group that has more assets coming into a remarriage. So when we remarry later in life, there are probably more assets to consider planning for. A senior adult may have assets ranging from homes, vehicles, and personal tangible goods, to retirement accounts, savings, life insurance policies, and brokerage accounts. Of course you will want to be sure the adult children of your first marriage are the recipients of your assets. When you work with your experienced Florida estate planning attorney she will be able to show you careful planning considerations for your estate plan and may recommend a prenuptial agreement. This agreement can lay a foundation for understanding your goals for your previously owned assets at the time you entered into your marriage, and protect your existing adult children.

Take into consideration a thoughtful plan for both your new spouse and your adult children. When you create your estate plan you are creating a legacy. Rest assured, even with a prenuptial agreement, that you can plan for both your new spouse and your adult children. You can discuss with your Florida estate planning attorney creating a last will and testament or trust agreement that details the distribution of specific assets you want your new spouse or your adult children to receive.

Take into consideration the laws of your state. You should know that the state Florida rules will apply. Your spouse must receive the elective share, in Florida it is roughly thirty percent of your estate, unless you plan around this in advance in your prenuptial agreement. This could include at least a life estate of your home and other assets. If your primary goal is to provide for your adult children of a previous marriage you will want to work closely with your Florida estate planning attorney to make this a reality.

Take into consideration open communication about your estate planning goals. Many of our clients want to keep their goals for their legacy private for as long as possible, however, open communication in this area may be critical to avoiding future legal challenges. If you are comfortable, discuss your goals with your new spouse as well as your adult children. Consider including them in your meetings with your Florida estate planning attorney so everyone knows, and has time to both adjust and respect, your wishes.

We know this article raises more questions than it answers. Elder and Estate Planning Attorneys, PA, is a law office small enough to provide personal service but large enough to provide service in Jupiter, as well as Palm Beach, Martin, St. Lucie, and Indian River Counties in Florida. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and more. We encourage you to contact us and schedule a meeting with our attorneys.

Congratulations are in order for Florida Estate Planning and Elder Law Attorneys!

Our firm is so excited to be included in the top three finalists for the Palm Beach North Chamber of Commerce Leadership Awards 2023: Small Business of the Year! We are honored to be included with the other local leaders in our community. This year’s Annual Leadership Awards celebrate Palm Beach North’s outstanding leaders and businesses making a difference in this community and we are excited to be a part of it.

Our goals at Elder and Estate Planning Attorneys PA is to be a law office small enough to provide personal service but large enough to provide service. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and more. We work with clients through Florida, specifically in Jupiter, as well as Palm Beach, Martin, St. Lucie, and Indian River Counties in Florida.

Our elder law firm consists of seasoned attorneys in Florida with decades of experience in:

Wills and Trusts
Asset Protection
Advanced Estate Planning
Elder Law
Veteran’s Benefits Planning
Medicaid Benefits Planning
Representation of Fiduciaries
Real Estate Services
Residential and Commercial Leases
Business Law
Litigation
Probate and Trust Litigation
Probate and Trust Administration

We work hard to ensure you will receive personal services as you make some of the most important decisions in your life. The extra benefit when you work with our law firm? You will have the assurance that your decisions will be for the best under the guidance of experienced lawyers.

Our firm is led by the exceptional Anne’ Desormier-Cartwright who, in 1985, began her practice as a real estate, landlord tenant and commercial trial lawyer. Since 1994, her practice expanded to include guardianship, mental health, probate and trust administration, and trusts and estate planning, as well as Special Needs trusts, Medicaid and Veterans Benefits Planning. More recently, she started helping clients with remedies for elder exploitation.

She is a Charter member of ElderCounsel, a nation wide association of elder law attorneys focused on the changing laws affecting the elderly. She is also a member of WealthCounsel and Advisors Forum which focuses on how the laws affect wealth planning and distribution of assets throughout a client’s life and at death. Ms. Desormier also enjoys active memberships in NAELA and AFELA, the National Academy of Elder Law Attorneys and Academy of Florida Elder Law Attorneys, respectively. These organizations lead the way for understanding and preparing legislation to address the complicated issues our elderly population faces as they age.

She is also a 30 year member of The Greater Palm Beach Chapter of National Association of Women in Construction and has served on the Board of Directors in various capacities. She continues to be a member helping members in their business succession, estate planning, elder law and real estate needs.
We encourage you to take a minute out of your schedule to congratulate our entire firm on this tremendous achievement and let us know how we may help you. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and so much more. We encourage you to contact us and schedule a meeting with our attorneys.

Three Tips to Prevent Your Parents Losing a Lifetime of Savings to Long-Term Care

Have you been able to provide the necessary care on your own for your aging parents and now it is not enough anymore? Are you facing the difficult decision to place your aging parents into a nursing home? Are you concerned about the cost of nursing home care and trying to help your parents protect a lifetime of savings from being completely used up by the cost of care?

Because May is both National Elder Law Month and National Older Americans Month, this is an important time of year to ensure our aging loved ones have the support they need. Let us discuss three tips to prevent your aging parents from losing their life savings to a nursing home.

1. Early Planning. The most important thing your parents can do to preserve their life savings is to start planning for the future before those plans need to be put into effect. Meet now with a Florida qualified elder law attorney to engage in long-term care planning, this planning can be critical.

2. Know the Difference Between Medicare and Medicaid. Your parents may be hoping that Medicare will help with nursing home costs, but they probably should not. Typically Medicare only covers 100 days of nursing home care. If your parents qualify for Medicaid, then the Florida Medicaid program will take over when Medicare benefits are no longer enough. Medicaid will cover nursing home costs for qualified individuals for as long as they need it. But there is a catch! Medicaid rules require your parents to spend down most of their life savings prior to qualifying for the program. Medicaid also has a look back period of 5 years. Medicaid will see what your parents held in assets, and what their income and expenses were during this time period.

3. Stay 5 Years Ahead in Planning. By working with a Florida qualified elder law attorney, she can help your parents plan around this 5-year “lookback” rule to protect the life savings of your parents. Your attorney may advise that the best way to do this may be to ensure that the assets of your parents are transferred out of their estate prior to the 60 months before they need nursing home care. Since the need for this care may be on the horizon, it may be best to start planning early. Your attorney can work with you to figure out the best approach.

Elder and Estate Planning Attorneys, PA, is a law office small enough to provide personal service but large enough to provide service in Jupiter, as well as Palm Beach, Martin, St. Lucie, and Indian River Counties in Florida. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and more. We encourage you to contact us and schedule a meeting with our attorneys.

Do You Know the Danger of Making Holiday Gifts When It Comes to Elder Law Planning

During the holidays are you considering giving gifts of money to loved ones? Are you aware that monetary gifts can impact Medicaid eligibility? Did you know that if you needed to apply for Medicaid in the next five years, these gifts could have significant consequences? If you answered yes to the previous questions, be aware that the impact could be on both the giver and receiver.

With respect to the gift giver, be aware that the IRS allows a tax-free annual gift per person with an unlimited amount of donees. However, this relates to tax law planning, not to Medicaid eligibility.

In regard to gifting, Medicaid takes a different stance. In applying for Medicaid eligibility, when a person’s assets are reviewed, there is a “Look-Back” period of sixty months, depending upon the state. If it is found that the Medicaid applicant gifted money, or made an uncompensated transfer in order to be eligible for Medicaid, the penalty may be Medicaid ineligibility. The length of time of ineligibility is determined by the amount of the gift and the average cost of a private pay nursing home in the area.

Are there any options for the person deemed ineligible for Medicaid due to gift giving? Possibly. The gifter could collect the gift back, or reimbursement, in order to “undo” the penalty. Even if possession of the money makes he or she ineligible for Medicaid, he or she can spend it down by temporarily paying for long-term care or making a home modification related to his or her disability until he or she reaches eligibility status. In addition, there may also be a possibility of an undue hardship waiver, if Medicaid ineligibility will cause the person to go without medical care, food or shelter.

There may also be important impacts on the gift receiver. All states have an asset limit to be Medicaid eligible and it is not very high. In fact, Florida allows a single person to only have two thousand dollars. Even a small gift can push a potential Medicaid recipient over the eligibility limit.

With the assistance of an experienced Florida elder law attorney, a potential Medicaid recipient does have some options if he or she receives a gift. Your elder law attorney may suggest paying off debts and/or purchasing a funeral plan or a Medicaid eligible annuity. If money is received before applying for Medicaid, the money can also be spent down in a similar fashion.

Do you have questions? Please contact our law practice to learn more. We are here for you. Elder and Estate Planning Attorneys PA is a law office small enough to provide personal service but large enough to provide service in Palm Beach, Martin, St. Lucie and Indian River Counties.

What is the VA Pension and Is Your Loved One Eligible?

What is the VA pension? It is a non-service connected pension, available each month to a permanent and totally disabled veteran when the veteran is 65 years of age or older, honorably discharged after at least 90 days of active duty with one day being during wartime, and experiencing financial need.

Does the veteran over age 65 have to prove that he or she is actually disabled? No, it is presumed that because the veteran is over 65 that the veteran is disabled. A veteran who is younger than age 65, however, must demonstrate that he or she is permanently and totally disabled in order to receive this financial assistance. In fact, this disability for a person under age 65 must be an impairment that renders it impossible for the average person to follow a substantially gainful occupation. This impairment must be one that is reasonably certain to continue throughout life.

What are the three types of monthly non-service connected pensions that are paid by the Veterans Administration to offset the cost of necessary health care? They are: Low Income Pension, Housebound Benefits, and Aid and Attendance Benefits.

In addition, there may be an extra benefit amount if the claimant is “permanently housebound.” The person demonstrates this by being substantially confined to his or her dwelling and knowing that this condition will continue throughout his or her lifetime.

When the disability and wartime service test is met, and before the veteran may begin receiving a VA pension, a three part means test qualification must be met. First, the payments to the potential claimant, his or her spouse, and dependent children from all sources are considered. This also includes recurring income such as social security and pensions, as well as irregular income for the next twelve months.

The unreimbursed medical expenses are then excluded from income. Unreimbursed medical expenses include but are not limited to Medicare Part B premiums, Medigap premiums, Medicare Part D premiums, and prescription drug payments as well as caregiver expenses or recurring assisted living expenses. The gross income less the unreimbursed medical expenses will determine the claimant’s Income for VA Purposes (IVAP). The goal is for the IVAP to be $0. This is because there is a reduction against the Monthly Maximum Pension Rate (the income limit) for every dollar of IVAP.

We know the ins and outs of VA Pension can be confusing. Do not wait to schedule a meeting to ask your questions and address your concerns this November, or anytime throughout the year.

No Time To Waste: Why Your Aging Parent Needs A Power Of Attorney Now

Have you talked to your parent about incapacity planning? Although talking with your aging parent about planning for his or her potential incapacity is never an easy task, it can be critical to have these difficult conversations to help ensure that your parent may be protected. A power of attorney can be an essential legal document because it can allow someone to put in place a plan for managing his or her affairs in the event he or she is unable to do so due to something such as incapacitation.

An example of such a circumstance that may benefit from a power of attorney being in place could be a tragic car accident where a person suffers injuries that impact his or her ability to make sound decisions. Alternatively, a common concern as our parents get older, a senior may begin to suffer from dementia or Alzheimer’s. With a power of attorney in place, you can help ensure that your aging parent’s wishes are carried out in accordance with his or her plan if your parent is ever in the position where he or she is unable to manage affairs.

In the power of attorney document, your parent will identify one or more persons to act as his or her agent in the event of incapacity. The power of attorney document outlines the specific powers and authority that the agent has and it can be crafted based on your parent’s wishes. The agent acting pursuant to the power of attorney is a fiduciary to your parent so the agent must act only in your parent’s best interest. It may be important to note that putting a durable power of attorney in place can be important for incapacity planning. The durability feature means that the power granted under the power of attorney survives incapacitation of the principal, your parent.

If your aging parent does not have a power of attorney in place, then you may need to enlist the help of an experienced estate planning attorney to put one in place for your parent now. As with all estate planning, many people may think that there is no need to rush. A power of attorney, however, can be critical because, in many states, including Florida, if you feel that your parent is unable to manage his or her own affairs, you may need to have your parent placed under guardianship if there is no power of attorney in place. This may mean a court will have to determine whether your parent is in fact incapacitated and unable to act on his or her own behalf. The court may need to hear from a doctor or witnesses to make this decision. Once your parent is deemed incapacitated, the court next decides who manages his or her affairs and how to do so. The power of attorney can eliminate the need for court intervention and give your parent the ability to control who acts as his or her agent.

Do you have questions? Please contact our law practice to learn more. We are here for you. Elder and Estate Planning Attorneys PA is a law office small enough to provide personal service but large enough to provide service in Palm Beach, Martin, St. Lucie and Indian River Counties.

Category: Elder Law