Nnepa Presentation 9 2008 Part 2 Final
- 1. Elder Law Attorneys & the Comprehensive Approach to Planning for the Aging Care Needs of Seniors September 26, 2008 Presented by: Serena L. Brock The Intersection Between Legal & Health Care
- 2. Pre-planning and education Dot Com bust 1997-2001 - losses never recovered 9/11 Estate Tax Law The Deficit Reduction Act, 2005 Medicaid and in home care Changing the way Americans plan
- 3. Longevity/ Active Lifestyle Family Care Options Greater enhancement of quality of life Trusted caregiver Less risk for neglect Financial concerns Avoid Crisis 3 generation homes Addressing the Complex Needs of the Aging Population
- 4. Time to think, learn and listen - families and professionals Their perspective Wishes Financial concerns Personal dignity and independence Have you had the Talk?
- 5. Trusted resources HCA FA LTC/AL D/C Thought leader Benefits Education Support referrals Building a Network
- 6. Asset protection Healthy spouse/ institutionalized spouse Complex planning Tools Excellent training and support organizations Medicaid Planning
- 7. Most seniors want to remain at home as long as they possibly can. Home care costs -average - long term Adult child caregiver - personal and financial toll Presumption: love and affection Amount is an uncompensated transfer Evidence to avoid scrutiny -previous care - residence - journal - physician Personal Service Agreements / Caregiver Contracts
- 8. Reasonable compensation Life care agreement Must clearly specify nursing home plans/obligations Taxable income Caregiver qualifications Personal Service Agreements/Caregiver Contracts
- 9. Medicaid Planning Focus Life Care Planning Model Tapping unprecedented wealth Paradigm Shifts in Elder Law
- 10. Large population Increased revenues - Medicaid applications - simple to complex planning Deeper counseling Longer client Subsequent referrals Practice Benefits
- 11. Counseling Significant planning opportunities Financial savings - wont run out of money Trusts, transfer of assets purchase of annuities or increased income and resource allowances for the healthy spouse. Asset preservation Peace of mind Attorneys Role
- 12. fundamental to the provision of healthcare in this country Importance of pre-planning Synergistic relationships Greater client support and services Eliminate the fear, concerns of attorneys The Legal/Health Intersection