Elder Law Today Podcast

Continuing care retirement communities can be a great option for many people.  I can move into one community that can meet all my needs, from independent housing to assisted living to nursing home care as I need it.    In Show 18 of his monthly elder law podcast, Yale Hauptman, a practicing elder law attorney, provides an overview of CCRCs, the pros and cons.  So often, he sees people enter into these financial arrangements without closely examining the 40+ page contract that typically the resident must sign.  The contracts often require a large upfront financial commitment.  What will the CCRC agreement cover?  What won’t it cover?  What happens if you run out of money?  What if the facility runs out of money?  If you are considering a CCRC for yourself or a loved one you’ll definitely want to tune in first. Click here to listen To subscribe to our podcasts click here Please send us your feedback

The law allows every person to distribute property according to their wishes by a written instrument known as a Last Will. However, many people never execute one and miss that opportunity, the consequences of which can be devastating to loved ones. In Show 17 of his monthly elder law podcast, Yale Hauptman, a practicing elder law attorney, discusses what can go wrong without a will. Each state has a set of laws that predetermines how assets will pass where there is no will, known as intestacy. That may not, however, be what you want. For example, assets may be left outright to heirs who shouldn’t or can’t handle the money or may end up in the wrong people’s hands. Yale also discusses the difficult issues involved in second marriages where each spouse has different heirs who they wish to leave their estate. Without proper planning that won’t happen. Ownership of real estate in another state can also present a problem without planning. The bottom line is that without a carefully drawn plan your i

Mom is unable to handle her affairs and either can’t or won’t accept assistance from other family members. Or maybe one child lives close by and is taking advantage of mom and other family members, who live a distance away, are frustrated in their attempts to protect mom. Is guardianship a solution? In Show 16 of his monthly elder law podcast, Yale Hauptman, a practicing elder law attorney discusses when a guardianship is possible and when it isn’t. Does Mom need to be declared incompetent? How does that happen and what is the standard? Yale also discuss what options are available when a guardianship isn’t possible, such as a conservatorship. If your family is grappling with these issues or you know someone else who is, then you’ll want to tune in to learn more. Click here to listen  To subscribe to our podcasts click here Please send us your feedback

You’ve spent down the remaining assets on Mom’s care and have no more money left. You apply for Medicaid but are told, “Sorry, Mom’s not eligible for another 8 months.” How could this happen? What can you do to avoid this horrific outcome? In Show 15 of his monthly Elder Law Today Podcast, practicing elder law attorney, Yale Hauptman, explains why spending down assets may not be as simple as you think. Medicaid rules are complex and it is easy to get tripped up. Well meaning citizens can unwittingly cause themselves to lose these essential benefits by creating transfers that are subject to a Medicaid transfer penalty. Learn the danger of paying home health aides cash and why that could result in long penalty periods. Discover why gifts made 4+ years before Medicaid is applied for can come back to haunt you. More importantly, learn how you can avoid these Medicaid traps and how to correct the mistakes you’ve already made. If you wait till you apply it’s too late. This episode is for anyone who

So after listening to Show 13 you’re thinking, we should have taken action immediately after Dad’s diagnosis but didn’t so now what do we do? In the 14th installment of his audio podcast, Yale Hauptman discusses just that scenario, crisis planning. Although the picture is more complicated all hope is not lost. Yale discusses some of the options still available to families, but timing is a key.Yale explains how the home as an exempt asset under Medicaid rules can be used to help the healthy spouse preserve more than the maximum otherwise allowable under Medicaid rules. That could include buying a bigger house or making improvements on a current home. Learn why a reverse mortgage now is replacing a home equity loan or line of credit as the only option in crisis planning for many families. Yale also discusses ways to pay down debt that benefits the healthy spouse and other ways to help preserve hard earned money for the community spouse, who just won’t be left with much under current Medicaid rules without cre

In the first show of Season 2 of his Elder Law Today Podcast, by listener request, Yale Hauptman has modified the format and shortened the length of his audio podcast. In a concise 10 minutes, Yale presents a common scenario that many families today are faced with. Dad has just recently been diagnosed with early stages of Alzheimer’s Disease (you can substitute any other long term care illness because the issues remain the same). What lies next for Mom and Dad? What should the family be doing and when? Yale runs through the planning strategies that ought to be employed to insure the best care possible for Dad, preferably at home rather than in a nursing home, and also to protect Mom so that all their hard earned savings are not spent on Dad’s long term care, leaving Mom with very little to live on. Yale provides an overview of the long term care system, the benefit of setting aside assets in trust and the various government benefits, including VA and Medicaid, that may be able to play a role

In show number 12 Yale Hauptman, a practicing elder law attorney sits down with Barbara Salvador of Nannymama.com and Barbara Friesner of Agewiseliving.com, a generational coach and author of “The Ultimate Caregiver’s Guide” to discuss how to have “the talk” with aging parents.Generational differences and lack of communication pose some real challenges to children who are trying to help care for their parents. So many families never discuss long term care and finances until a crisis hits and that’s just too late. If you find yourself in the situation of not knowing what plans your parents have in place, what their wishes are with respect to long term care, or where all their important legal documents are – and you have no idea how to start the conversation - this is a must listen. As with any interpersonal relationship, communication is paramount. How we say things is as important as the content itself. Yale and his guests discuss the best way to break the ice and the dos and don’ts of approaching a very dif

Much has happened in both the economic and political arenas since the last show, including the steep drop in the stock markets and the election of President Obama and changing of power in Congress from Republican to Democrat. In show number 11 of his podcast, Elder Law Today, practicing elder law attorney, Yale Hauptman discusses how this all will affect the average American who needs long term care. Some of these changes have already begun to occur. Yale explains how rising unemployment, the government bailout of failing financial companies and the drop in stock markets and thereby, people’s savings, have all combined to create a “perfect storm” of conditions that will cause State Medicaid offices to delay and deny a greater number of Medicaid applications for long term care. He discusses some of the scenarios in his office where this is already happening. Take the case of the daughter who took cash out for Mom over the years but didn’t keep good records as to how it was spent or the son who pa

In show number 10 of his podcast, Elder Law Today, practicing elder law attorney, Yale Hauptman interviews Anthony Aiello, a compliance officer at Commerce TD Bank on the hot topic of FDIC insurance. For many Americans, the collapse of financial giants such as Lehman Brothers, AIG, Merrill Lynch and Wachovia reminds them of other troubled economic times. Many seniors grew up during the Great Depression of the 1930’s and remember the Savings and Loan scandal of the late 1970’s and early 1980’s. The FDIC insurance program was instituted in the 1933 to protect depositors who lost money when their banks went under. Many Americans are now concerned once again about whether their assets are protected. Yale and Anthony discuss the basics of how this insurance coverage works. Learn about the ways to stretch the amount of insurance coverage well beyond the $100,000 limit which most people assume, erroneously, is the maximum. There are different categories of accounts, which are treated separately for i

In show number 9 of his podcast, Elder Law Today, practicing elder law attorney, Yale Hauptman welcomes as his guest Lauren J. Siegel, a registered nurse and certified life care planner. Lauren explains how she is typically brought into lawsuits brought by parents of disabled minor children and asked to devise a plan of care covering the various needs that the child may have over his/her life. Yale and Lauren then discuss how this same planning is just as important to elderly parents of adult disabled children. Parents must address care issues for those children after they pass away and how to fund it. Yale points out that any assets intended to fund that care must be properly set aside while the parent is healthy or risk being spent down entirely for the parent’s long term care needs, leaving nothing for the child’s needs. Lauren offers some suggestions for parents to consider. Yale also introduces a new “In the News” segment. He discusses a recent Pennsylvania court case that highlights

In show number 8 of his podcast, Elder Law Today, practicing elder law attorney, Yale Hauptman, discusses some real life case studies to illustrate how the Medicaid laws can trip people up and cause much stress and financial loss for the unprepared and unwary. Yale first discusses the case of the granddaughter caring for her grandmother full time, with Grandmom providing the funds to support both of them. Things go wrong when Grandmom’s condition deteriorates to the point where nursing home care is necessary and the money has run out. Learn the mistakes that this family made and why it has become much harder to fix them under the new Medicaid laws. Next, Yale discusses a call he received from a son in Mississippi who took in his parents to his own home, moving them from New Jersey. The parents transferred their home to Son, who then put it up for sale. The plan fell apart when Dad took ill and needed nursing home care much sooner than anticipated. He applied for Medicaid and was denied because

In the seventh installment of his podcast, Elder Law Today, Yale Hauptman focuses on seniors and their home. Sometimes the senior can’t stay at home any longer. Yale discusses with Dan Yanofski, the owner of Elite Realtors of New Jersey, some of the challenges he faces in helping seniors sell their homes. Dan shares his opinions on how to make a home more marketable when it is a bit outdated and the two talk about when is the best time to sell. For others, staying at home is still a viable option, but some assistance in needed. Yale sits down with Murray Goldsmith, of Spectrum Home Services, whose company, among other services, provides assistance to senior homeowners in making their home a safer place to live. Murray and Yale go from room to room as Murray explains how, in some cases, relatively small modifications can make it easier and safer for a senior to navigate through his/her home and help minimize the risk of a life changing accident. Yale also takes time to answer listener ema

In the sixth installment of his podcast, Elder Law Today, Yale Hauptman invites guests Heidi Rinsky Schnapp and Lisa Cook Bayer of Life Management Resources, an elder care consulting firm and Gregory W. Bushwell, of B & M Brokerage Services, a long term care insurance specialist to a roundtable discussion on long term care. The panel first discusses preplanning options and Greg shares his advice on long term care insurance products and services. Learn why there is no such thing as one size fits all when considering the amount of insurance coverage for long term care, what pitfalls to avoid when purchasing long term care insurance, what additional services besides nursing home care are covered and the difference between disability insurance and long term care insurance. If you or your loved one is already in the midst of a long term care crisis, then you’ll want to hear Heidi and Lisa discuss with Yale the types of services their elder care consulting firm provides. You’ll learn how elder care m

In the fifth installment of his podcast, Elder Law Today, Yale Hauptman, takes Elder Law Today on the road to a Caregiving Symposium he spoke at recently.  Yale interviews a geriatric care manager, a contractor who makes modifies homes for the elderly and other vendors who attended the symposium about the variety of services they provide to the elderly. In the second segment Yale discusses in greater depth the Veterans Administration Aid and Attendance program, which provides wartime veterans and their spouses who qualify, as much as $1800 per month of additional income which can help pay for home based care and assisted living care.  Learn the details of this little known program and why so many people have been incorrectly told by the VA that they don’t or can’t qualify.  Yale talks about terms such as income for Veteran Administration purposes and unreimbursed medical expenses and why they don’t mean what you might think. Listen to Yale explain the income and asset levels that must be met

In the fourth installment of his podcast, Elder Law Today, Yale Hauptman, a practicing New Jersey elder law attorney, discusses how long term care planning actually decreases the likelihood of ever needing nursing home care.  Learn how the long term care system actually works to push people towards nursing homes when they have no more money.   Medicaid home based benefits often pay only a part of the cost of aides needed on a 24 hour 7 day a week basis, but will pay the entire cost of care if provided in a nursing home setting.  It is, therefore, important to plan ahead to have the funds available to be able to stay at home. Yale also reviews for listeners an unknown Veterans Administration benefit for eligible Veterans that can provide as much as $1800 per month in additional income to cover the cost of home aides and assisted living care.  The Veterans Aid and Attendance program can help qualified seniors preserve their much needed assets.  But Yale cautions that one must keep an eye on the next

In the third installment of his podcast, Elder Law Today, Yale Hauptman, a practicing New Jersey elder law attorney, answers listeners’ questions by phone and email. Yale corrects common misconceptions people have about some of the basic legal issues facing seniors today. For example, Yale explains that making gifts up to the annual gift tax exclusion amount will carry a Medicaid transfer penalty. Yale explains what probate is and why you don’t necessarily have to fear and avoid it. Learn why it is a good idea to have a will and not rely on a state’s intestacy laws to distribute your assets. Is it a good idea for a parent to transfer his/her home to the children? Yale discusses the pros and cons to consider from a Medicaid, tax and long term care perspective. Yale answers a caller’s question on a little known Veterans Administration benefit that can provide much needed additional monthly income to be used for home care and assisted living care. These are just some of the topics covered in a ver

In the second installment of Elder Law Today Podcast, Yale Hauptman, a practicing New Jersey elder law attorney, explains the basics of the Medicaid nursing home program. Yale explains how this needs-based program works, including the asset and income tests for eligibility. Learn what countable and non-countable assets, Medicaid transfer penalty and lookback period are and why Medicare will not cover most nursing home stays. Yale also explains why long term care planning must be done well before entry to a nursing home becomes necessary. Congress passed significant changes to the Medicaid laws 2 years ago, known as the Deficit Reduction Act of 2005, changes that the average American is unaware of. Learn why even if you spend down your assets to the Medicaid levels you still may face a Medicaid transfer penalty. In the second segment, Yale interviews Barbra London of Freedom Eldercare, a licensed home health care agency. Listen to Barbra and Yale talk about the types of services a home health

Every so often, I come across a situation that illustrates so clearly the dangers of going it alone or getting bad advice when dealing with the common issues and dilemmas that are aging in America.  I received a call this week from a son in Mississippi.  Mom and Dad, no longer able to live at home alone, moved in with Son.  They owned their home in New Jersey which they transferred to Son.  Dad's health deteriorated to the point where he needed nursing home care.  The couple then spent down their assets and applied for nursing home care for Dad.  Meanwhile Son placed the New Jersey home up for sale. Much to their surprise, the family was informed that the state Medicaid office denied Dad's application.  Why? Because the transfer of the home to Son caused a Medicaid ineligibility period.  Dad cannot receive Medicaid for 4 and 1/2 years.  In other words, Son must give the money back to Mom and Dad and they must spend it down before Dad will receive Medicaid. Son said that he was prepared to pay for Dad's care.

In the debut of his podcast, Elder Law Today, Yale Hauptman, a practicing New Jersey elder law attorney, explains what elder law is and how an elder law attorney can be a valuable counselor to seniors and their families.  Learn how elder law differs from traditional estate planning.  A will, while important, addresses only one scenario, what happens when one dies.  Elder law, however, encompasses so much more, what can be termed life planning or long term care planning.  In other words, what happens if I don’t die, but instead have a lengthy illness, need increased care, (ie. home care, assisted living, or nursing home care) and do not have the funds to pay for it indefinitely.        Yale discusses the need to have a plan in place, one that includes the necessary documents (ie. power of attorney, health care directive, will, trust) but also brings the family together to work towards a common goal of assisting the senior family member to tackle head on the legal and social issues associated with aging and nav