Estate Planning Blog Articles

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Tips for Talking with Parents about Assisted Living

Talking with aging parents about assisted living is one of the most challenging conversations families faces. The reality of significant life changes always forces us to face fears and anxieties that we’d often like to avoid. However, it’s an essential step in addressing the future care needs of your elderly parents. This conversation may not be easy. However, with respect and empathy, it can provide clarity for the future and bring comfort to all involved.

Is It Important to Prepare for Assisted Living?

As our parents age, it’s common to notice changes in their ability to manage daily tasks. Whether it is difficulty moving around, forgetting to take medication, or struggling with household chores, these signs may indicate a struggle to manage alone.

Even if they don’t need to move into an assisted living facility yet, you should have a plan in place just in case an urgent need arises. This way, you can make thoughtful decisions rather than rushing into choices during a crisis. Talking about assisted living early lets everyone think carefully about how best to protect the needs and preferences of the aging parent.

How to Start the Conversation

Starting the conversation about assisted living can feel overwhelming. Many people worry about how their parents will react, fearing they’ll feel pushed into a decision they’re not ready to make. However, approaching the topic with empathy and patience can help ease these concerns.

Begin by choosing a comfortable and private setting where you can talk without interruptions. It’s important not to bring up the topic in a way that feels confrontational. Instead, express your concerns gently, clarifying that your primary goal is their well-being and happiness.

Addressing an Elderly Parent’s Fears and Concerns

When discussing assisted living, it is important to listen to your parents’ concerns and feelings. They may worry about losing their independence, leaving their home, or the stigma they associate with assisted living. By validating their emotions and acknowledging their fears, you can show you respect their feelings and support them.

Let your parents know that moving to an assisted living community doesn’t mean giving up independence. Likewise, many communities offer a variety of activities and social opportunities that can enhance their quality of life. Reassure your parents by sharing how these communities help residents stay active and engaged.

What If Your Parent Is Not Ready to Discuss Assisted Living?

It’s common for parents to resist the idea of assisted living, especially if they’re still relatively independent. If this happens, don’t try to force the issue. Instead, be prepared for multiple conversations over time. Each discussion can help them become more comfortable with the idea, especially if they see that you approach the topic respectfully and understandably.

In an article by A Place for Mom, Dr. Erin Martinez, a gerontologist, advises, “This should absolutely not be a one-time conversation.” Taking time and revisiting the topic as needed can help your parent feel more in control of the decision.

Tips for Talking with Parents about Assisted Living

While talking about assisted living is never easy, a few tips can help:

  • Be Patient: Understand this is a significant life change for your parent. Be prepared for several conversations over time.
  • Listen: Listen to your parents’ thoughts and feelings. This shows respect and helps them feel heard.
  • Focus on Benefits: Highlight the social opportunities and safety that assisted living can offer, helping your parent see the positives.
  • Plan Early: Start the conversation before it becomes urgent. Early discussions can make the transition easier when the time comes.

Ensure Your Parent’s Future Well-Being with an Elder Law Firm

Talking to your parents about assisted living is a challenging process. However, it can lead to a positive outcome. If you’re preparing for this conversation and need guidance on incorporating these decisions into an estate plan, contact our law firm today to create a plan that respects your loved one’s needs.

Key Takeaways

  • Start Early: Begin the conversation about assisted living with your parents before an urgent need arises.
  • Show Empathy: Approach the topic respectfully and clearly, acknowledging your parent’s feelings.
  • Plan for Multiple Talks: Be patient and prepare for several conversations over time to help your parent adjust to the idea.
  • Focus on Benefits: Highlight the social opportunities, safety and support that assisted living communities can offer.
  • Respect their independence: Reassure your parents that assisted living is about maintaining independence with the necessary support.

Reference: A Place for Mom (Jan. 11, 2023) How to Talk to Elderly Parents About Assisted Living

Planning for Aging Well: Understanding the Stages of Aging

Aging is a journey we all undertake. However, the path isn’t the same for everyone. Each stage of aging comes with its own set of needs and challenges. Understanding these stages is essential for planning effectively and ensuring that you or your loved ones are well-prepared for the future.

What Should I Know about the Young-Old Stage?

The first stage, often called the “Young-Old” stage, typically starts around age 65 and lasts until about 74. Many individuals in this age group remain active and healthy. However, new considerations emerge.

In this stage, routine health check-ups become more crucial to catch any potential issues early. Staying active with regular exercise and maintaining a balanced diet can go a long way in preserving good health. However, retirement can bring a significant shift in daily life. Without the structure of work, some may struggle with a sense of purpose. Support your mental health by engaging in hobbies, learning and staying socially connected.

How to Prepare for the Middle-Old Stage

As people move into the “Middle-Old” stage, between the ages of 75 and 84, they may face increased health concerns. This period often brings challenges like high blood pressure, diabetes, or arthritis. Regular medical care and careful management of medications become more important during this time. Mobility might also decrease, necessitating the use of aids to maintain independence and creating new challenges around staying social.

What Should I Expect during the Old-Old Stage?

The “Old-Old” stage, beginning at age 85, often brings significant changes and challenges. Many people in this stage may require assistance with daily activities, such as bathing, eating, or moving around. The likelihood of conditions like Alzheimer’s or dementia also increases, making specialized care necessary.

This is also the time to have meaningful conversations about end-of-life planning. Ensuring that a person’s wishes are known and respected is crucial. Having legal documents like a will or advance healthcare directive in place can provide peace of mind.

How to Celebrate and Care for the Elite-Old Stage? (Ages 100 and Up)

Reaching age 100 is a remarkable milestone. However, it also brings its own set of unique needs. Individuals in this “Elite-Old” stage may have more complex medical needs that require close monitoring.

Planning for Aging and Cognitive Changes

Cognitive changes are expected as people age, and it’s essential to recognize and address them. Mild cognitive impairment might cause occasional memory lapses, which are important to monitor as they may indicate the onset of dementia. Engaging in activities that challenge the mind can help maintain cognitive functions.

However, if conditions like dementia or Alzheimer’s arise, early detection and proper management are key. These conditions can significantly impact an individual’s life. Having a plan in place can make a difference in managing their progression.

Emotional Needs During Aging

Beyond the physical and psychological shifts, aging is emotionally challenging. As people grow older, they may experience more loss as friends and family members pass away. Dealing with grief becomes a recurring part of life, and providing emotional support, whether through counseling or grief therapy, can be incredibly beneficial.

Many older adults also strongly desire to leave behind a legacy. In this case, outlets for sharing their stories and life lessons can provide purpose and fulfillment in later years.

How Can You Prepare for Advanced Aging?

Preparing for the later stages of life involves more than managing health—it’s also about planning for legal and financial matters. As you age, having all legal and financial documents in order is crucial, including creating a will, setting up a power of attorney and ensuring that medical directives are in place.

Plan for Aging Well

Aging is a natural part of life; understanding the different stages can help you or your loved ones navigate it more smoothly. Whether you’re planning for yourself or a loved one, it’s never too early to start thinking about the future. To learn more about how to plan for aging or to begin creating a personalized plan, request a consultation with our law firm today. We’re here to help you prepare for every stage of life.

Key Takeaways

  • Identify Aging Stages: Recognize the distinct phases and their specific needs.
  • Stay Proactive: Address potential health, social and cognitive changes before they become challenges.
  • Secure Legal and Financial Stability: Ensure that all legal and financial documents are updated and in order.
  • Encourage Engagement: Foster social interactions and activities that bring joy and purpose to your loved ones.
  • Adapt Care Plans: Adjust care and support as your loved one progresses through each stage of aging.

Reference: Care Plans Now (Dec. 14, 2023) Understanding the Different Stages of Aging and Their Needs

How Older Adults Fight Isolation and Give Back to Their Communities

Social isolation is a growing challenge for older adults, with significant impacts on their physical and mental health. According to the National Poll on Healthy Aging, 34% of adults aged 50 to 80 report feeling isolated at least some of the time. These feelings of loneliness can lead to declines in cognitive function and contribute to conditions such as heart disease, anxiety, depression, and Alzheimer’s disease. The good news? There are ways to combat isolation, and one of the most effective is through volunteering.

Volunteering allows seniors to give back to their communities and provides meaningful opportunities for connection, purpose, and improved well-being. The AARP guide, Help Older Adults Prevent Social Isolation, shares ways for older adults to get involved and reduce loneliness. Let’s explore how seniors can use their time and talents to help others and enrich their lives.

Why Should Seniors Volunteer?

Volunteering offers a range of benefits for older adults. Mayo Clinic Health System shares research findings that regular volunteer activity can improve physical and mental health, particularly in those aged 60 and older. Seniors who volunteer often report lower levels of depression and anxiety, increased physical activity, and an overall improved sense of well-being.

In addition to these health benefits, volunteering fosters a sense of purpose. Whether assisting at a local senior center, organizing events, or simply being a friendly face for someone in need, volunteers feel valued and connected to their communities. They develop new friendships, hone valuable skills, and experience the joy of making a difference in the lives of others.

How Older Adults Get Involved

The first step for older adults interested in volunteering is to identify the needs in their community. For example, organizations like Meals on Wheels and Senior Corps offer opportunities specifically tailored to the needs of older adults, such as companionship services and assistance with transportation. These programs provide regular human contact to homebound seniors and help volunteers build lasting connections.

Technology has also opened new avenues for engagement. Apps like Be My Eyes allow seniors to assist visually impaired individuals through video calls. At the same time, programs like Senior Center Without Walls provide telephone-based classes and discussions for older adults. Websites such as Create the Good and VolunteerMatch make it easy for volunteers to find positions focused on helping older adults.

If in-person visits or virtual connections aren’t possible, seniors can still get involved by writing letters, organizing events, or even sharing their hobbies and interests with others. Crafting blankets for newborns or teaching an art class at a senior center can make a world of difference in someone’s life.

Exploring Charitable Giving as a Way to Give Back

In addition to volunteering time, seniors can also give back to their communities through charitable giving. Incorporating philanthropy into an estate plan is a meaningful way to leave a lasting legacy while potentially benefiting from tax advantages.

Seniors can set up charitable trusts, which allow them to receive income from their assets during their lifetime while ensuring that the remaining assets go to a charitable cause after their passing. Alternatively, they can name a charity as a beneficiary in their will or trust, specifying a certain percentage of their estate to go to a good cause. Both options allow older adults to make a positive impact while fulfilling their own personal philanthropic goals.

How Elder Law Attorneys Help Seniors Get Involved and Give Back

Volunteering and charitable giving are powerful tools seniors can use to stay engaged, build connections, and contribute to their communities. However, navigating the options available, especially when it comes to charitable giving, can be complex. That’s where an elder law attorney can help.

Elder law attorneys not only assist seniors with crafting estate plans that include charitable giving but can also help connect seniors with local nonprofit or charitable organizations. Whether you’re looking for volunteer opportunities or want to explore the best ways to donate your assets, an elder law attorney can guide you through the process. Their expertise can ensure that your contributions—both in time and financial resources—are as effective and meaningful as possible.

An Elder Law Attorney Can Share Opportunities to Give Back to Your Community

If you’re an older adult looking for ways to give back to your community, there’s no better time to start than now. Volunteering enriches the lives of those you help and provides you with a sense of purpose, improved health, and new friendships. Consider contacting an elder law attorney for guidance on getting involved, whether through volunteering or charitable giving. They can help you find the right opportunities to make a difference and support you in leaving a lasting legacy.

Combat Isolation with Volunteering

Volunteering and charitable giving are incredibly fulfilling ways for older adults to remain active, engaged, and connected. By dedicating time, energy, or resources to worthy causes, seniors can combat the adverse effects of isolation while making meaningful contributions to the world around them. The benefits are endless, whether it’s making new friends, improving your health, or leaving a legacy.

Key Takeaways

  • Volunteering Fights Social Isolation: Volunteering offers seniors an opportunity to connect with others, build meaningful relationships, and combat the adverse effects of loneliness and isolation.
  • Health Benefits of Volunteering: Studies show that volunteering can improve both physical and mental health, leading to lower rates of depression, anxiety, and even chronic illnesses like heart disease.
  • Variety of Ways to Give Back: Seniors can get involved by volunteering through charitable organizations, helping others with simple tasks, or even using technology to provide virtual support.
  • Charitable Giving as a Legacy: Older adults can include charitable giving in their estate plans to leave a lasting legacy while potentially reducing tax obligations.
  • Support from Elder Law Attorneys: Elder law attorneys can guide seniors in both volunteer activities and charitable giving, helping them connect with local organizations and structure their estate plans to reflect their values.

References: Mayo Clinic Health System (Aug. 1, 2023) Helping people, changing lives: 3 health benefits of volunteering and AARP Help Older Adults Prevent Social Isolation

Seniors Cannot Be Careful Enough About Internet Scammers

The biggest threat to retirement accounts today isn’t a market downturn. It’s thieves who have become highly sophisticated in technology and human nature.

A recent article from The New York Times, “How One Man Lost $740,000 to Scammers Targeting This Retirement Savings,” tells how a 76-year-old retired attorney was duped into thinking he was helping an active government investigation when he was actually being scammed out of almost all of his retirement savings accounts. This man was one of many who were drawn into complex plots so intricate they could be used for crime novels.

Scammers are especially adept at using human vulnerabilities against their victims. Romance scams are more common. However, so are impersonators who purport to be law enforcement officials or technical support team members. They use basic psychological tactics to get victims to act, isolate them from friends or family who might be suspicious and present an opportunity to do good for others by helping in the so-called “investigation” or preying on our basic desire to connect and be liked by others.

In 2023, cybercrime theft was more than $12.5 billion, an increase of 22% from 2022 and more than three times the levels in 2019. These are just the crimes known to the FBI—countless others go unreported.

Seniors over 60 are targeted because they are seen as having savings worth pursuing. In 2023, seniors lost more than $3.4 billion to cybercrime.

For the retired attorney, it started when he had trouble logging into a 401(k) account. When he got in a few days later, the screen changed abruptly, and he was instructed to call the fraud department. There was a phone number on the screen. He was connected with his first scammer. Lesson one: If you’re having trouble logging into an account, close the window and find a phone number in a paper document or statement.

The man said he was a fraud investigator, and his money was vulnerable. The scammer built credibility by knowing the victim’s name and where all of his accounts were. This scammer connected him to another man, who claimed to be from the bank. A third man alleged to be from the IRS was on the phone. He provided his badge number to establish further credibility. They told their victim he had an opportunity to be part of their investigation. He was told not to disclose the investigation to anyone, including his three adult children.

A lengthy series of machinations began, with the victim giving the so-called investigators access to his accounts and transferring assets as the thieves kept up friendly banter about how the investigation was going. They told him one of their targets had been caught by Interpol and another was being tracked in Singapore.

The thieves guided him through many transactions, including moving money from an IRA to another bank because the bank had declined to release a large amount of funds, being wary of fraud. The thieves responded by saying the advisor was on their watch list, making their victim suspect the one person who was trying to look out for him.

The man only learned he was a scam victim when a real detective found his name and address on a paper receipt for gold in a car. He was one of at least seven people pulled into a scheme based in India. Making matters worse, his withdrawals created a tax bill: $285,000 in federal and state income taxes, which he cannot pay.

Awareness and a healthy skepticism should be part of every senior’s survival skill set. If someone promises involvement in a scheme or requests money, contact a trusted adult child, your estate planning attorney, or even the local police department to be sure you are not being scammed.

Reference: The New York Times (July 29, 2024) “How One Man Lost $740,000 to Scammers Targeting This Retirement Savings”

Protect Your Elderly Parents from Financial Exploitation in Nursing Homes

A nursing home should take good care of your elderly parents, but occasionally, a poorly managed one will exploit the seniors in their care. Financial exploitation in nursing homes takes many forms, such as unauthorized withdrawals, hidden charges, overbearing financial control, and manipulation by caregivers. According to Nursing Homes Abuse, up to one in six elderly individuals in nursing homes suffered some form of abuse in 2022.

Can You Recognize Financial Exploitation?

Several red flags may indicate your elderly parent is being financially exploited:

  • Unexplained withdrawals or changes in bank accounts
  • New or added names on financial documents
  • Sudden changes in wills or financial documents
  • Missing funds or valuable possessions
  • Substandard care despite an adequate funding source
  • Reports of financial exploitation from the elderly person
  • Signs of fear or anxiety when discussing finances

What Steps Prevent Financial Exploitation?

Regularly reviewing financial documents is crucial in spotting early signs of exploitation. Monitor bank statements, credit card bills, and any changes in financial habits. Setting up alerts for large withdrawals or transfers can also help you stay informed. If possible, pay frequent visits to your parents. This will help you stay current on their living conditions and relationships with caregivers and may deter abusers.

Establishing a power of attorney can be smart, as it will vest a trusted family member or attorney with authority to manage parts of your elderly parent’s finances. However, your parents must understand the decision and choose someone they’re comfortable with.

Informing your parents about common scams and tactics financial abusers use can also help. Encourage them to be cautious about sharing financial information, report suspicious activity immediately, and remember they can contact you for help.

What If You Suspect Financial Exploitation?

If you suspect financial exploitation, start documenting any evidence. Keep a record of suspicious transactions, changes in financial documents, and any unusual behavior or comments from your elderly parents or caregivers. Contact Adult Protective Services (APS) or your local long-term care ombudsman to report suspected financial exploitation.

Another important step is to consult an elder law attorney. Someone with experience in the field can tailor advice to your unique situation, offer insight, and propose solutions. They can help you look into the situation and spot evidence if you suspect elder abuse.

Can Estate Planning Protect Elderly Parents?

Estate planning is not just about distributing assets after death; it’s also about protecting elderly loved ones during their lives. A comprehensive estate plan can establish safeguards to hinder financial exploitation in nursing homes.

An estate planning attorney can help create wills and trusts to protect assets. They can also assist you in establishing powers of attorney and other mechanisms to protect your elderly parents.

Estate Law Can Safeguard Your Elderly Parents

By the time your elderly parents suffer financial exploitation in a nursing home, it’s often impossible to recoup the damages. Be proactive and contact our law firm today to schedule a consultation. Our experienced estate planning attorneys can help you create a plan to detect and limit financial abuse.

Key Takeaways

  • Recognize Signs of Financial Abuse: Early detection can prevent further exploitation.
  • Proactive Monitoring: Regularly review financial statements and documents.
  • Legal Safeguards: Establish powers of attorney, trusts, and advance directives.
  • Stay Involved: Frequent visits and communication with your parents and their caregivers.
  • Report Suspicions Promptly: Engage with nursing home administration, ombudsman programs, and law enforcement when you suspect elder abuse.

Reference: Nursing Homes Abuse (Sep. 13, 2023) “Financial Abuse in Nursing Homes: Warning Signs & What to Do

Am I Obligated to Pay My Deceased Parent’s Medical Debts?

Being responsible for your parent’s medical debt plus your medical expenses is a genuine worry for many Americans. A recent article from U.S. News & World Report starts with an unsettling title: “This Is Why You Might Be Responsible For Paying Your Parents’ Medical Debts.” A total of 25 states currently have “filial responsibility laws,” enacted to give adult children the responsibility to support parents who can’t provide for themselves.

The reality is more nuanced than the headline. Technically, you could be required to pay for some of your parents’ essential needs if they cannot. In Nevada, a law states that if there’s a written agreement to provide care, the child has control over and access to the parent’s assets or income, and the child can financially support the parents.

In most cases, certain triggering events must occur before the children need to pay their bills. For one, the parent must be found to be indigent. If parents receive nursing home care and cannot afford to pay for care until they qualify for Medicaid, the facility could sue the children.

Enforcement now rarely occurs. In Pennsylvania, a statute was proposed to prevent having family members support impoverished family members, including a person’s “child, spouse and parents.”

However, there’s more to the story. Adult children might get phone calls and letters from debt collectors if medical bills are unpaid. If a healthcare provider doesn’t receive payment and sells the debt to a third-party collection agency, the collection agency then owns the debt. It may turn to any viable source—typically, an adult child.

What can you do? Unless you co-signed or agreed to be a guarantor on bills for your parents, you are not liable for the debt. The collection agency will hope you don’t know this and press for payment. They may not be polite about it either. They cannot sue you or add the debt to your credit reports by law. They can be very aggressive. However, you have the law on your side. You don’t have to pay if you’re not legally responsible for the bill.

You’re also protected by the Fair Debt Collection Practices Act (FDCPA), which gives you the right not to talk with third-party debt collectors. Once you tell the person it’s not your debt and to stop contacting you, they are bound by the FDCPA to stop contacting you.

There are steps to prevent any accidental mingling of funds with parents. For starters, don’t co-sign debts, including loans, mortgages and credit cards. Read nursing home contracts thoroughly; some contracts may attempt to sign you up as a responsible party. Don’t sign anything you don’t understand—ask your estate planning attorney to review the contract first.

Plan by ensuring that your parents have wills, trusts and powers of attorney with medical directives. Talk with them about insurance policies and find out if they have created trusts to protect their assets. If they are relatively healthy, see if they are eligible for long-term care insurance.

Put a plan in place for the inevitabilities that occur in life. They may be spry today. However, aging is not always a kind or easy process. If it’s likely they will need your help, and you’re able to do so, build in some emergency funds for their needs. If parents have not put any estate planning into place, including planning for long-term care, talk with your estate planning attorney about how to help them get started.

Reference: U.S. News & World Report (June 28, 2024) “This Is Why You Might Be Responsible For Paying Your Parents’ Medical Debts”

How to Prepare for Cognitive Changes in Your Life

Planning for the cognitive decline that often accompanies aging can prevent expensive mistakes, says a recent article from U.S. News & World Report, “How to Minimize 4 Financial Management Disasters That Come With Aging.” Planning for cognitive decline can make our later years less stressful.

Age and Vulnerability to Financial Elder Abuse. Simple tasks like paying bills can become problematic as our cognitive abilities diminish. This also leaves people more susceptible to fraud and scammers—today’s thieves’ prey on the elderly through telephone, online, mail and in-person schemes. Add a layer of protection by having a trusted person or family member oversee accounts. A professional fiduciary or a bill-pay service could be used if no family member is available or trustworthy enough.

Freezing a senior’s credit with major credit bureaus can make it harder for thieves to steal their identity, take out loans, or open credit cards under their names.

Financial documents should be organized, and their location should be shared with loved ones. Your estate planning attorney, financial advisor and CPA should have the contact info of a trusted person who can step in to manage your affairs, if necessary. Your estate planning attorney can create a Financial Power of Attorney, so they can act on your behalf.

You can appoint a representative payee with the Social Security Administration, so another person can help you with Social Security matters.

The Death or Disability of the Family’s Financial Person. One person in the household very often runs the business side of life, paying bills, balancing checkbooks and keeping an eye on investments. If that person dies or becomes disabled, the spouse needs to be able to take over finances. To do this, they’ll need to know more than the usernames and passwords on accounts—although they’ll need to know this information as well. Regular check-ins on financial matters with a spouse and a trusted adult is a good practice.

Planning for Long-Term Care Expenses. Failing to prepare for the cost of long-term care or to protect a couple’s assets with Medicaid planning can be financially catastrophic. Medicaid can help with the cost of nursing home care. However, if the family has assets, they must be used up before the person is eligible for care. Medicaid also has a five-year lookback period, meaning any transfers or sales of assets taking place five years from the date of application will delay eligibility. An estate planning attorney can help with the use of irrevocable trusts, often referred to as Medicaid Asset Protection Trusts. There are also trusts designed to protect assets for the healthy spouse. A consultation with an estate planning attorney long before long-term care is needed is critical to avoiding this mistake.

Outliving Your Money. Experts believe nearly two-thirds of Americans nearing retirement age are unprepared for two, three, or even four decades of retirement. The past year’s skyrocketing costs of living have prevented many from adding to their savings during the end of their working lives, and many don’t even have emergency savings. Having a financial plan and an estate plan is important at every age and stage of life.

Cognitive changes don’t happen to everyone as they age. However, it is still wise to have your estate planning done long before any changes occur. Having a will and any necessary trusts created and executed while you are at full capacity allows you to be the one making these decisions.

Reference: U.S. News & World Report (June 26, 2024) “How to Minimize 4 Financial Management Disasters That Come With Aging”

Aging Well Priorities and the Need to Reauthorize the Older Americans Act

As we age, ensuring our well-being requires thorough planning and foresight. Aging well means maintaining your physical, emotional, social, and financial quality of life. While good estate planning is a must for aging well, benefits programs also help. The Older Americans Act is landmark legislation that has protected older adults’ well-being for decades.

What Is the Older Americans Act?

The Older Americans Act (OAA) provides vital services and support to older adults. Since it became law in 1965, it has funded programs such as:

  • Nutrition
  • Caregiver support
  • Community service employment

Congress reauthorized the act in 2020. Now, they can choose whether or not to reauthorize it again. According to the National Council on Aging (NCOA), reauthorizing this act is essential to support older adults’ well-being and meet their evolving needs.

How are Advocates Promoting Aging Well?

In May 2024, 200 advocates gathered on Capitol Hill to promote healthy aging. They emphasized the need to reauthorize the Older Americans Act and secure funding for various programs benefiting older adults. Their message was clear: healthy aging should be a right for all, not a privilege for a few.

What are the Key Priorities for Aging Well?

One advocate, Susan, shared her story during the Capitol Hill meetings. A retired teacher, Susan spoke passionately about the impact of community services funded by the OAA. After her husband passed away, she struggled with loneliness and health issues.

The local senior center became her lifeline. It provided meals, social activities, and health screenings. For Susan, these services were more than helpful; they were life-changing. Thanks to funding from the OAA, it was all possible.

Susan’s story underscores the importance of continuing these programs. Advocates push for the reauthorization of the Older Americans Act to ensure seniors like Susan have access to essential services that help them age well.

How Does Estate Planning Support Aging Well?

Estate planning is a crucial aspect of aging well. It involves making decisions about your assets, healthcare, and final wishes. By making these decisions, you support your well-being in various ways. These benefits and strategies include:

  • Healthcare directives: Provide for your healthcare needs through advance directives.
  • Relieve stress: You and your family can rest easily knowing you have a clear end-of-life plan.
  • Fund management: A well-planned budget incorporating benefits and your assets can provide comfort into your later years.

Why Should You Plan Ahead?

Planning allows you to maintain control over your future. It can also relieve your loved ones from making difficult decisions during emotional times. Working with an estate planning attorney can create a comprehensive plan tailored to your needs. You can start planning by taking the following steps:

  • Assess Your Assets: List your assets, including property, savings, and investments.
  • Consider Your Healthcare Wishes: Consider what kind of medical care you want if you cannot make decisions.
  • Choose a Trusted Representative: Select someone to make decisions on your behalf if you cannot do so.
  • Consult with an Attorney: An estate planning attorney can help you navigate the complexities of wills, trusts, and advance directives.

Plan for Peace of Mind

Aging well involves proactive planning and ensuring access to essential services. We can continue supporting older adults’ well-being by advocating for Congress’ reauthorization of the Older Americans Act. If you’re ready to take control of your future and start planning, contact us today to learn more about how we can help you with estate planning and ensure you age well.

Key Takeaways

  • Aging Well: Maintaining health, independence, and quality of life is crucial for older adults.
  • Older Americans Act: This act funds essential services for older adults, including nutrition, caregiver support, and community programs.
  • Advocacy Efforts: Advocates are pushing to reauthorize the Older Americans Act to continue supporting these vital programs.
  • Estate Planning: Proper estate planning helps secure your future and ensure your wishes are respected.
  • Action Steps: Assess your assets, consider healthcare wishes, choose a trusted representative, and consult an estate planning attorney.

Reference: NCOA (National Council on Aging) (May 15, 2024) “Hill Day 2024: Advocates Take Aging Well Message to Lawmakers”

Legal Planning can Help Prevent Elder Abuse

In a recent case reported by FOX43, an 86-year-old father fell victim to elder abuse at the hands of his own son. According to the report, the son stole $153,168 from his father. This story is a painful reminder of how even trusted individuals can exploit the vulnerability of our elderly loved ones. Likewise, it reminds us to be vigilant of elder abuse to prevent these heartbreaking situations.

What Is Elder Abuse, and Why Is It a Growing Concern?

Elder abuse is a serious issue that affects many older adults. It includes physical, emotional, and financial harm, and the perpetrators are often trusted individuals. Many elderly people rely on others for their daily needs, making them vulnerable to abuse.

To make matters worse, elder abuse is becoming more common as the elderly population grows. The National Council on Aging (NCOA) states that one in ten Americans aged 60 and older has experienced some form of elder abuse.

How can Legal Planning Protect Elders with POAS?

Legal planning can help protect an elderly person’s wishes and their assets. Elder law attorneys can assist in creating essential documents like wills, trusts, and powers of attorney. These documents guide the management of an elderly person’s assets and who will make decisions on their behalf.

A power of attorney (POA) is especially important. It’s a legal document that allows someone to make decisions for another person. If an elderly individual cannot make decisions for themselves, a POA is vital. A trustworthy person holding power of attorney can prevent financial abuse and protect the elderly person’s needs.

What are the Warning Signs of Elder Abuse?

Recognizing the signs of elder abuse is crucial for prevention. Some common warning signs include:

  • Unexplained injuries or bruises
  • Sudden changes in financial situation
  • Withdrawal from normal activities
  • Poor hygiene or living conditions
  • Fear or anxiety around certain individuals

What Steps can Be Taken to Prevent Elder Abuse?

  • Regular Check-Ins: Regularly check in on your elderly loved ones. Frequent visits or phone calls can help you notice any changes in their behavior or living conditions.
  • Educate Yourself: Learn about the signs of elder abuse and stay informed about how to protect your loved ones.
  • Legal Safeguards: Work with an elder law attorney to create legal documents that protect the elderly person’s assets and outline their care preferences.

How can Elder Law Help Protect Seniors?

Elder law encompasses various legal issues affecting older adults. These include estate planning, healthcare, and guardianship. An elder law attorney can help create a comprehensive plan to protect the elderly individual and their assets. Some strategies include setting up trusts to manage assets, appointing guardians or conservators, and drafting advance healthcare directives.

Take your first step toward securing a comprehensive estate plan; schedule a consultation today.

Key Takeaways

  • Elder Abuse Awareness: Stay alert to warning signs of elder abuse. Sudden financial changes, unexplained injuries, and strange behaviors are potential warning signs.
  • Importance of Legal Planning: Elder law can protect your loved ones. Leverage legal tools like powers of attorney and trusts.
  • Role of Estate Planning: Estate planning isn’t just for distributing assets after someone dies. Instead, it can protect them during their lifetime.
  • Consult an Elder Law Attorney: Aging well can be a challenge. Professional legal advice can make it safer and easier.

References:  FOX43 (Oct. 22, 2018) “Son charged for stealing $153,168 from 86-year-old father, officials talk elder abuse warning signs | fox43.com”

NCOA (National Council on Aging) (Feb. 23, 2021) “Get the Facts on Elder Abuse”

What Do You Do If Elderly Family Member Is Being Financially Abused?

Financial elder abuse is when a family member, caregiver, or another individual illegally or improperly uses an elderly person’s assets for their own personal gain without the knowledge or understanding of the elderly person. A recent article from The Sun Times News, “Elder Financial Abuse Can Be A Family Affair,” notes the coming “Great Wealth Transfer” of Baby Boomer assets could lead to a dramatic increase in elder financial abuse.

Even minor memory loss can be exploited by scammers and, sadly, family members. With nearly seven million Americans having moderate cognitive issues, the possibility of financial abuse is growing. Boomers live longer than any previous generation, translating into huge healthcare costs in post-retirement years. At the same time, their children and grandchildren face challenges, including student debt and high homebuying costs. The combination of these issues isn’t pretty.

A contributing factor is the increased misinformation about Medicaid, wills, trusts, guardianship and power of attorney. When seniors make their wishes known and formalize them through an estate plan and trusts to protect their assets, the chances of them becoming victims of exploitation can be minimized.

In many cases, isolation leads to vulnerability. One woman allowed her son’s ex-wife to move into her Colorado home to live with her elderly mother. The ex-wife fell victim to scammers herself and convinced the elderly mother to send two checks totaling $70,000 to two scammers, one claiming to be running a children’s mission in Nigeria and another rescuing animals in Malaysia. The elderly woman’s bank didn’t question the large checks, which it should have. The ex-wife also forged checks worth more than $10,000 on the elderly woman’s account. The promised caregiving never happened, and while the woman was arrested and prosecuted, the family will never recover the money as the ex-wife is unemployable—she was a bookkeeper.

The National Center on Elder Abuse suggests only one in 24 cases of elder abuse is reported to authorities. If abuse of any kind is suspected, it should be reported immediately to the police in the jurisdiction where the senior lives. Financial statements, bank statements, credit card bills, canceled checks and evidence must be provided. Even if you don’t have evidence, suspected abuse should be reported.

Families can be torn apart when heirs battle over inheritances. Two means of prevention are creating an estate plan by an experienced estate planning attorney, with trusted family members or professionals to serve as Power of Attorney and executor. The second is to maintain ongoing contact with the senior, if possible, in person and, if not, via phone calls, video calls and visits. The more involved you are with an aging person’s life, the better your chances of uncovering or preventing financial elder abuse.

Reference: The Sun Times News (May 8, 2024) “Elder Financial Abuse Can Be A Family Affair”

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