Box elder news journal how to#
Healthy Actions: Know how to spot a stroke: BE FAST is the new acronym MYTH: I don’t need a will because I don’t have a lot.įACT: Whether or not you need a will is based on many factors, and if you don’t want one, you should still seek help from an estate planning or elder law attorney for nonprobate protection.
Box elder news journal for free#
MYTH: The nursing home said they will complete my Medicaid application for my loved one for free so I’m not going to pay attention to it.įACT: Please don’t do this! Nursing homes may offer their business office to do the application, but that does not mean it will be done correctly, and it is a lot more expensive to fix a botched application than to do it right from the start.
“Betty White” would be in cursive, and the rest would be in print.
To appropriately sign as Agent, (if your mom is Betty White and you are Susie), it would look like this: Betty White by Susie Thomas, Agent. MYTH: If I sign my name first for my mom followed by “POA” that protects my personal finances.įACT: False. MYTH: Financial POAs take away the independence of the individual.įACT: POAs are a great tool to work in conjunction with someone as their needs increase. There are many types of financial POAs and you want to make sure you get the right one. Beware of doing this by yourself on the internet. They can even prevent a guardianship from being filed against your loved one. They may be one of the most important planning documents. MYTH: Financial powers of attorney aren’t that helpful, anyway.įACT: Financial POAs are extremely helpful. However, it’s definitely good to reach out to see the consequences of past gifts, or if you are planning to do gifting now, you can seek an attorney’s advice. MYTH: My mom or dad gifted money and now I know they won’t qualify for Medicaid, so I’m not even going to call an attorney for help.įACT: Just because gifting has occurred doesn’t mean someone won’t qualify for Medicaid. There are emergency Medicaid plans that elder law attorneys can implement to prevent financial ruin. MYTH: My spouse just went into the nursing home and now I know I’ll go bankrupt.įACT: There are so many protections for spouses that you should not be disheartened. In many cases, elder law attorneys can save half, if not all, of the assets for your spouse or your loved ones. Never try and do a “spenddown” on your own or at the advice of a nursing home or financial adviser. MYTH: Spenddown means all of my money has to go to the nursing home before my spouse or my loved one can get care.įACT: This is one of the biggest myths.
Here are some common myths and facts about Medicaid, senior care and estate planning. The Akron Bar Association has an attorney referral service at or by phone at 33. She is an attorney at Palumbo & Sweet LLC in Fairlawn. If you missed last week’s column, which included some common myths and facts on the basics of Medicaid for seniors from Direction Home, a nonprofit agency that helps older adults find programs to age at home or in long-term care facilities, go to This week, my expert is Jaclyn Palumbo, a probate attorney and chair of the Akron Bar Association’s Estate Planning, Probate and Elder Law Section.
Box elder news journal series#
This is part two of a series sharing what you need to know about Medicaid and seniors.
0 kommentar(er)
