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Elder Law 101

The Importance of Advance Directives and Living Wills

As we age, planning for the future becomes increasingly important. One of the most crucial aspects of planning involves making decisions about your healthcare and end-of-life care. Advance directives and living wills can provide you and your loved ones with peace of mind, knowing that your wishes will be respected and followed in case you are unable to make or communicate these decisions yourself. In this blog post, we will discuss the importance of advance directives and living wills, their key differences, and how they can benefit you and your family.

What are Advance Directives?

Advance directives are legal documents that outline your preferences for medical treatment and care when you are no longer able to make decisions for yourself. They serve as a guide for your healthcare providers, ensuring that your choices are respected and followed. Advance directives come in various forms, including living wills and durable power of attorney for healthcare.

Understanding Living Wills

A living will is a type of advance directive that specifically addresses your preferences for medical treatment in the event of a terminal illness or persistent vegetative state. This document is essential because it provides clear instructions for your healthcare providers and family members when you are unable to communicate your desires. A living will can cover various aspects of your medical care, such as whether you want to be kept on life support, receive artificial nutrition and hydration, or undergo specific medical procedures.

Durable Power of Attorney for Healthcare

A durable power of attorney for healthcare, also known as a healthcare proxy, is another form of advance directive. In this document, you designate a trusted individual to make healthcare decisions on your behalf when you are unable to do so. This person, known as your agent, will be responsible for ensuring that your healthcare providers follow your wishes and make decisions in your best interest, taking into account your previously expressed preferences and values.

Why are Advance Directives and Living Wills Important?

There are several reasons why creating advance directives and living wills should be a priority for you and your family:

1. Ensuring Your Wishes are Respected

Advance directives and living wills provide clear guidance for your healthcare providers and loved ones, ensuring that your wishes are respected and followed even when you are unable to communicate them. This can bring peace of mind to both you and your family, knowing that your preferences will be honored.

2. Reducing Family Conflicts

When family members are faced with difficult decisions about your medical care, disagreements may arise. By creating a living will and designating a healthcare proxy, you can help reduce conflicts by providing clear instructions and appointing someone you trust to make decisions on your behalf.

3. Preventing Unnecessary Medical Treatments

Without advance directives in place, your healthcare providers may be unsure of your preferences and could administer aggressive treatments that you would not have wanted. A living will can help prevent unwanted medical procedures and ensure that your end-of-life care aligns with your values.

4. Preserving Your Dignity

By outlining your preferences in a living will and designating a healthcare proxy, you can maintain control over your healthcare decisions and preserve your dignity during a time when you may be most vulnerable.

How to Create Advance Directives and Living Wills

Creating advance directives and living wills involves several steps:

Discuss your preferences with your loved ones and healthcare providers.
Consult with an experienced elder law attorney to ensure that your documents meet legal requirements.
Make copies of your documents and distribute them to your healthcare providers, family members, and healthcare proxy.
4. Review your advance directives and living wills periodically and update them as necessary to reflect any changes in your preferences or health status.

Reach Out to Beasley & Ferber for Expert Guidance

Advance directives and living wills are essential components of a comprehensive estate plan. By creating these documents, you can ensure that your wishes are respected, reduce potential family conflicts, and preserve your dignity during times of vulnerability.

At Beasley & Ferber, our experienced elder law and estate planning attorneys are here to guide you through the process of creating advance directives and living wills, tailoring them to your unique needs and preferences. With over 60 years of combined experience, we are dedicated to helping our clients protect their hard-earned assets and plan for the future with confidence.

If you or a loved one are considering creating advance directives or living wills, don’t hesitate to contact us today. Our team is ready to answer your questions and provide the support you need to make informed decisions about your healthcare and end-of-life planning.

Protecting Your Business: The Importance of Business Succession Planning

As a business owner, you’ve likely put in countless hours and made significant investments to build and grow your business. But have you considered what will happen to your business when you retire or pass away? Business succession planning is a crucial aspect of any business owner’s overall estate plan, yet it’s often overlooked or put off until it’s too late. In this article, we’ll discuss the importance of business succession planning and what steps you can take to protect your business and ensure its continued success.

Why Business Succession Planning Matters

Business succession planning is the process of creating a plan for the transfer of ownership and control of your business in the event of your retirement, disability, or death. Without a proper plan in place, your business could be at risk of being sold off, dismantled, or simply closing its doors. Here are a few reasons why business succession planning is so important:

Ensures a Smooth Transition of Ownership

One of the most important reasons to have a business succession plan in place is to ensure a smooth transition of ownership. With a proper plan in place, you can determine who will take over the business when you retire or pass away, and how the transfer of ownership will take place. This can help to minimize disruptions to the business and ensure that it continues to operate smoothly.

Protects Your Family and Employees

Having a business succession plan in place can also help to protect your family and employees. Without a plan, your family may be left with a business they don’t know how to manage or sell, and your employees may be left without jobs. A proper plan can help to provide for your loved ones and ensure that your employees are taken care of.

Maximizes the Value of Your Business

Having a business succession plan in place can also help to maximize the value of your business. By planning for the transfer of ownership in advance, you can take steps to increase the value of the business and ensure that it is in the best possible position for a successful transfer.

Steps to Take for Business Succession Planning

Now that we’ve discussed the importance of business succession planning, let’s take a look at some steps you can take to protect your business and ensure its continued success:

Create a Plan

The first step in business succession planning is to create a plan. This plan should outline how ownership and control of the business will be transferred, who will take over the business, and how the transfer will be funded. It’s important to work with an experienced attorney who can help you create a plan that meets your unique needs and goals.

Identify and Train Successors

Once you have a plan in place, it’s important to identify and train your successors. This may include family members, employees, or outside investors. It’s important to provide them with the knowledge and skills they need to successfully run the business.

Consider Tax Implications

When creating a business succession plan, it’s important to consider the tax implications of the transfer. This may include estate and gift taxes, capital gains taxes, and other taxes that may apply. Working with an experienced attorney and tax professional can help ensure that you minimize your tax liability and maximize the value of your business.

Review and Update Your Plan Regularly

Finally, it’s important to review and update your business succession plan regularly. Changes in your personal life or in the business itself may require updates to the plan. Regular reviews can help ensure that the plan remains relevant and effective.

Conclusion

In conclusion, business succession planning is an important aspect of any business owner’s estate plan. It can help ensure a smooth transition of ownership, protect your family and employees, and maximize the value of your business. By creating a plan, identifying and training successors, considering tax implications, and regularly reviewing and updating the plan, you can help protect your business and ensure its continued success.

At Beasley & Ferber, our team of experienced attorneys can help you create a business succession plan that meets your unique needs and goals. We understand the complexities of business succession planning and can help you navigate the process with confidence. Contact us today to schedule a consultation and learn more about how we can help you protect your business.

Probate vs. Non-Probate Assets: What You Need to Know to Protect Your Estate & Heirs

When it comes to estate planning, it’s important to understand the difference between probate and non-probate assets. Probate is the legal process of administering a deceased person’s estate, which includes paying any outstanding debts and distributing assets to heirs. Non-probate assets, on the other hand, are assets that pass outside of the probate process. In this article, we’ll discuss the difference between probate and non-probate assets and what steps you can take to protect your estate and your heirs.

What are Probate Assets?

Probate assets are assets that are owned solely by the deceased person and that do not pass automatically to a named beneficiary. These assets must go through the probate process in order to be distributed to heirs. Examples of probate assets include:

  • Real estate that is owned solely by the deceased person
  • Bank accounts that are solely in the deceased person’s name
  • Personal property such as furniture, jewelry, and artwork
  • Business interests that are solely owned by the deceased person
  • Life insurance policies that are payable to the deceased person’s estate

What are Non-Probate Assets?

Non-probate assets are assets that pass outside of the probate process and that are typically distributed directly to named beneficiaries. Examples of non-probate assets include:

  • Jointly owned property with right of survivorship
  • Bank accounts that have a named beneficiary
  • Retirement accounts and pensions that have a named beneficiary
  • Life insurance policies that are payable directly to a named beneficiary
  • Trusts that have a named beneficiary

Why is it Important to Understand Probate vs. Non-Probate Assets?

Understanding the difference between probate and non-probate assets is important for several reasons. First, it can help you ensure that your assets are distributed according to your wishes. By naming beneficiaries for non-probate assets, you can ensure that these assets are distributed directly to the people you choose without going through the probate process.

Second, understanding the difference between probate and non-probate assets can help you minimize the time and expense of the probate process. By ensuring that as many assets as possible are non-probate assets, you can reduce the amount of time and money that your heirs will need to spend on the probate process.

How to Protect Your Estate and Your Heirs

Now that we’ve discussed the difference between probate and non-probate assets, let’s take a look at some steps you can take to protect your estate and your heirs:

Create a Comprehensive Estate Plan

The first step in protecting your estate and your heirs is to create a comprehensive estate plan that includes a will, trusts, and other important documents. Working with an experienced estate planning attorney can help ensure that your assets are distributed according to your wishes and that your heirs are protected.

Review and Update Your Estate Plan Regularly

It’s important to review and update your estate plan regularly to ensure that it remains relevant and effective. Changes in your personal life or in the law may require updates to your estate plan, so it’s important to review it at least once a year.

Name Beneficiaries for Non-Probate Assets

By naming beneficiaries for non-probate assets such as retirement accounts and life insurance policies, you can ensure that these assets are distributed directly to the people you choose without going through the probate process.

Consider Trusts

Trusts can be a valuable tool for protecting your assets and ensuring that they are distributed to your heirs according to your wishes. A trust can help you avoid probate, minimize estate taxes, and provide for the ongoing management of your assets after your death.

Consult an Experienced Estate Planning Attorney

Finally, it’s important to consult with an experienced estate planning attorney to ensure that your estate plan is comprehensive and effective. An attorney can help you understand the difference between probate and non-probate assets and can provide guidance on how to protect your estate and your heirs.

Conclusion

Probate and non-probate assets can have a significant impact on how your estate is distributed and on the amount of time and expense that your heirs will need to spend on the probate process. By understanding the difference between these two types of assets and taking steps to protect your estate and your heirs, you can ensure that your assets are distributed according to your wishes and that your loved ones are protected.

At Beasley & Ferber, our team of experienced estate planning attorneys can help you create a comprehensive estate plan that meets your unique needs and goals. We understand the complexities of probate and non-probate assets and can help you navigate the process with confidence. Contact us today to schedule a consultation and learn more about how we can help you protect your estate and your heirs.

How Trusts Can Help You Achieve Your Estate Planning Goals

Estate planning can be a daunting task, but it’s a necessary one to ensure that your assets are protected and your loved ones are taken care of after you pass away. One option to consider when creating your estate plan is setting up a trust. Trusts can be a valuable tool in achieving your estate planning goals. In this article, we’ll discuss what trusts are, the different types of trusts, and how trusts can help you achieve your estate planning goals.

What is a Trust?

A trust is a legal arrangement in which one person (the trustee) holds and manages assets for the benefit of another person (the beneficiary). The person who creates the trust is known as the grantor. Trusts can be revocable, meaning they can be changed or revoked during the grantor’s lifetime, or irrevocable, meaning they cannot be changed or revoked once they are established.

Different Types of Trusts

There are many types of trusts, each with its own benefits and drawbacks. The most common types of trusts include:

Revocable Living Trusts: These trusts are created during the grantor’s lifetime and can be changed or revoked at any time. They are often used to avoid probate, which is the legal process of settling an estate.

Irrevocable Living Trusts: These trusts cannot be changed or revoked once they are established. They are often used for asset protection, as they can help protect assets from creditors or lawsuits.

Testamentary Trusts: These trusts are created through a will and take effect after the grantor’s death. They are often used to provide for minor children or other beneficiaries who are not able to manage their own finances.

Special Needs Trusts: These trusts are used to provide for beneficiaries with disabilities without disqualifying them from government benefits.

Charitable Trusts: These trusts are established to benefit a charitable organization.

How Trusts Can Help You Achieve Your Estate Planning Goals

Trusts can be an effective tool in achieving your estate planning goals. Some of the benefits of trusts include:

Avoiding Probate: Trusts can help avoid the probate process, which can be time-consuming and costly.

Protecting Assets: Irrevocable trusts can protect assets from creditors or lawsuits.

Providing for Minor Children: Testamentary trusts can provide for minor children or other beneficiaries who are not able to manage their own finances.

Providing for Beneficiaries with Disabilities: Special needs trusts can provide for beneficiaries with disabilities without disqualifying them from government benefits.

Maintaining Control: Trusts allow the grantor to maintain control over how their assets are distributed after they pass away.

Tax Planning: Certain types of trusts can be used for tax planning purposes, such as reducing estate and gift taxes.

Contact Beasley & Ferber for Assistance

Trusts can be a valuable tool in achieving your estate planning goals. They can help you avoid probate, protect your assets, provide for your loved ones, and maintain control over your assets. It’s important to work with an experienced elder law and disability law firm like Beasley & Ferber to determine which type of trust is best for your specific needs. Contact us today to learn more about how we can help you achieve your estate planning goals.

At Beasley & Ferber, we have over 60 years of combined experience in estate planning. For more information about estate planning and to get started with an estate attorney in New Hampshire today, please contact Beasley & Ferber today.

The Benefits and Risks of Gifting Your House to Your Children

As we age, one of our primary concerns is protecting our assets, including our homes. One strategy that some people consider is gifting their home to their children. While this may seem like a straightforward way to protect the value of your property and pass it on to your children, there are several important factors to consider before making such a decision.

In this article, we will explore the benefits and risks of gifting your home to your children, and what you need to know before taking this important step.

The Benefits of Gifting Your Home to Your Children

Gifting your home to your children can have several benefits, including:

Protection from creditors: By gifting your home to your children, you remove the asset from your estate, which means that it is no longer vulnerable to creditors. This can be particularly important if you are facing a lawsuit, bankruptcy, or other financial difficulties.

Reduced estate taxes: If your estate is large enough to be subject to estate taxes, gifting your home to your children can help reduce the tax burden on your estate. This is because the value of the home is no longer part of your estate, and therefore not subject to estate taxes.

Simplified probate: Probate is the legal process that occurs after someone dies to distribute their assets. If you gift your home to your children, it can simplify the probate process, as the property will already be in their name.

The Risks of Gifting Your Home to Your Children

While there are benefits to gifting your home to your children, there are also some significant risks to consider, including:

Loss of control: Once you gift your home to your children, you no longer have control over the property. This means that you cannot sell it, mortgage it, or make any other decisions about the property without the permission of your children.

Tax consequences for your children: If your children sell the property, they may be subject to capital gains taxes on the increase in value from the time you gifted it to them. This can be a significant financial burden for your children.

Medicaid eligibility: If you need to qualify for Medicaid to pay for long-term care, gifting your home to your children can impact your eligibility. Medicaid has a five-year “look-back” period, which means that any gifts made within five years of applying for Medicaid can impact your eligibility.

What You Need to Know Before Gifting Your Home to Your Children

If you are considering gifting your home to your children, it is important to work with an experienced elder law attorney who can help you understand the legal and financial implications of this decision. Some key factors to consider include:

Your overall estate plan: Gifting your home is just one aspect of your overall estate plan. Your attorney can help you understand how this decision fits into your broader goals for your assets and your family.

Your tax situation: Gifting your home can impact your tax situation, both in terms of estate taxes and income taxes. Your attorney can help you understand the tax implications of this decision.

Your children’s financial situation: Before gifting your home to your children, it is important to consider their financial situation and how this decision may impact them. This includes considering the tax consequences and the potential loss of control over the property.

In Conclusion

Gifting your home to your children can be a useful strategy for protecting your assets and passing them on to the next generation. However, there are also significant risks to consider, and it is important to work with an experienced elder law attorney to understand the legal and financial implications of this decision.

Contact Beasley & Ferber for Assistance

At Beasley & Ferber, we have over 60 years of combined experience in estate planning. For more information about estate planning and to get started with an estate attorney in New Hampshire today, please contact Beasley & Ferber today.

Is a "No-Contest" Provision in a Will Enforceable?

A no-contest provision in a will or trust prevents you, if you are a beneficiary, from challenging the will simply because you believe it is not fair, and you should have gotten more of the decedent’s assets than what the decedent left to you.

When there is a no-contest clause, if you challenge the will or trust and lose, you will get nothing unless the no-contest clause allows you to receive a lesser amount if you contest the will.

Enforceability of a No-Contest Clause

A no-contest provision will be enforced according to the express terms as it is articulated in the will or trust document. There are two separate New Hampshire statutes, one applying to such clauses in a trust document, and another applying to such clauses in a will.

The statutes are nearly identical in their enforceability and non-enforceability of a no-contest clause. Massachusetts law concerning no-contest provisions in wills and trusts is almost identical to New Hampshire’s.

It won’t matter whether your challenge is made in good faith, or if you believe you have probable cause for the challenge. If the will or trust documents are valid, the no-contest clause will be enforced exactly as it is written.

Unenforceability of a No-Contest Clause

If you can prove any of the following, the no-contest clause will not be enforced:

  • The will or trust is invalid because it was written due to fraud, duress, or undue influence.
  • The testator (one who wrote the documents) lacked testamentary capacity. Meaning that person was not of sound mind at the time the documents were written, or that person was under the age of 18 when the documents were written.
  • The trustee, or any other fiduciary, has breached their fiduciary duty.
  • If you join in any action brought by the trustee or other fiduciary, as long as that person is not the beneficiary named in the no-contest provision, you will not be penalized.
  • If you join with all beneficiaries and agree to settle any other matter relevant to the trust or will.
  • You make a motion, or there is any proceeding to determine whether if you take the action you are considering taking, will that action constitute a contest within the meaning of the no-contest provision.
  • You bring an action for interpretation of the trust or will.

There may be other situations where a challenge to the documents may be allowed even under the no-contest provision. If you are considering challenging a will or trust that has a no-contest provision, you need to first consult with experienced estate planning attorneys at Beasley and Ferber who will help you understand what you are risking if you decide to make that challenge.

Contact Beasley & Ferber for Assistance

You should also make an appointment with us at Beasley & Ferber if you want to include a no-contest provision in your will or trust. We are here to help and will discuss with you the benefits of including such a provision in your estate planning documents.

If you determine such a clause is needed, we will draft your documents for you so that your will and trust will be free from challenges and your wishes will be carried out as articulated in your estate planning documents.

When Your Beneficiary is a Non-Profit or Other Entity

There are many reasons why a person may choose a non-profit, educational institution, or other entity as their beneficiary instead of a person. They can leave a portion of their estate to the entity or they can leave their entire estate. They may not have family, the family may already be well off, or they could be estranged from their family.

Whatever the case, you are perfectly within your rights if that is what you choose to do. Here’s what you need to know.

What are the Types of Beneficiaries?

There are several types of beneficiaries that you can consider, your spouse, friends, family, a charity, a university, or even the government which after your death would be estate taxes.

When you are considering what will happen to your estate after you pass on, you will have to look at this. Planning your estate thoughtfully will allow you to assess your assets as well as potential beneficiaries and decide if you will divide it into portions for other beneficiaries, or if the bulk of it will go to the entity.

What is an Entity Beneficiary?

While the beneficiary is legally designated to receive the benefits that you allocate from any financial products that you name, the type of beneficiary can be either a person or an entity.

In a will, an entity is an individual, a single organization, a group, a trust, a corporation, or an organization. So when you are planning how your estate will be divided and disbursed, you need to keep in mind that you must be as specific as possible because the language can be ambiguous. If you want all or part of your estate to go to a certain non-profit, then name that non-profit. Be very specific.

Can a Non-Profit Beneficiary be Contested by Your Family?

Your spouse and children may try to challenge your trust or will because they do not want that portion of your estate to go to the beneficiary. This can create problems by slowing the probate process. The challenges can create difficulty in ending it, causing it to drag on and on.

They may challenge it because it affects the portion that they receive and they may feel that it is rightfully theirs. However, these challenges do not get overturned often because it was the person’s expressed request.

How do You Name a Charity as Your Beneficiary?

There are three steps to naming a charity beneficiary. It is not a difficult or drawn process at all.

  1. Decide on the charity or cause that you wish to support
  2. Decide the type and/or amount of gift that you want to make
  3. Include the gift with the charity expressly named in your Estate Plan

It’s really that easy.

There is one more step though that while it is not required, it is recommended. Talk to your family and friends. Make sure that they understand what you are doing and are on board. This should minimize the possibility of anyone challenging your gift once you pass.

Contact Beasley & Ferber for Assistance

If you are ready to begin your own estate planning and would like to include a charity or non-profit as a beneficiary, let us help. At Beasley & Ferber we have the knowledge and experience to make estate planning quick and easy. Call today and schedule an appointment and get started.

When an Elderly Parent Wants to Live Alone

According to a recent article in Forbes, more than 90 percent of elderly people who were surveyed express the intent to remain living in their own homes as they age and are committed to never moving. This is true even if it means living alone after a divorce or the death of a spouse. Unfortunately, that is not always possible.

Signs Your Parent Should No Longer Live Alone

There comes a time when no matter how much your elderly parent wants to remain living alone, it is no longer feasible for them to do so. A few signs that they need help are:

  • They exhibit personality changes such as getting angry easily, or being withdrawn and silent or lashing out.
  • Forgetting to take their medications.
  • They have trouble paying their bills.
  • They neglect their personal care demonstrated by not brushing their hair, not getting dressed appropriately, and forgetting things like eating.
  • They can no longer use their computer and have trouble even with their phone.

If this is happening to your elderly parent, it is time to have a serious discussion with them about making a change.

Tips on How to Discuss Living Options with Your Elderly Parent

It is not easy to talk to your parent about making a change in their living environment when they belligerently refuse to move from their home and give up living alone. SeniorSafetyAdvice, an online information resource for seniors and their caregivers, offers some suggestions for discussing this touchy subject with your loved one:

  • Listen to your parent’s point of view. Treat them like an adult. Do not talk down to them as though they are children. Understand why they are so resistant. Are they simply afraid to move and fear they will be giving up control of their life? Give them time to consider your suggestions.
  • Give your parent a sense of control over deciding how the family will cope with the changes that need to be made. Don’t argue with them but be firm and calm. If possible, give them choices. For example, do they need grocery delivery, meals-on-wheels, or an in-home health aid? Do they need an assisted-living environment?
  • If they can be convinced to do so, include them in the research about what to do next. Will they need to move or is it more feasible to have a caregiver move in with them?
  • If moving seems like the only option, focus on the type of place that will meet their needs, not a place that you think would be wonderful for you if you were in their situation.
  • Be firm about discussing with them the potential consequences of them continuing to live alone.

Contact Beasley & Ferber for Assistance

After you’ve had your thoughtful discussion with your loved one, make an appointment with Beasley & Ferber. We are here to help with all things related to elder law and will discuss with you options for care for your elderly parent who can’t or should no longer live alone.

Long-term Care Planning: Medicare, Medicaid, and Insurance

Long-term care is something that people generally aren’t eager to think about. However, roughly 7 out of 10 people will require long-term care at some point during their lifetime. When the national average cost of a private room in a nursing facility is $9,034, older adults and families need to address long-term care in their financial and legal planning.

Long-term care is a general term that describes various care services that regular health insurance does not cover. It might include things like:

  • In-home assistance with routine daily activities (activities of daily living or ADLs)
  • Living in a nursing home or assisted living facility
  • Nursing care
  • Physical, occupational, or speech therapy

Because long-term care is not covered by health insurance, you need to make other plans to pay for it.

Does Medicare Cover Long-Term Care?

Medicare is a government-provided health insurance program for adults who are over the age of 65. It also covers some individuals with disabilities as well. Unlike Medicaid, Medicare does not depend on your income, assets, or disability status.

Adults who qualify pay for Medicare just as they would a private health insurance company. The main difference is that Medicare provides more extensive services and lower fees compared to the average private insurance company. In many cases, those receiving Medicare do not pay any insurance premiums at all for Medicare Part A, which provides hospital services.

Medicare Part A covers things like:

  • Care in a skilled nursing facility
  • Hospital stays
  • Hospice care
  • Some home healthcare

It does not cover more basic things that medical insurance might cover, such as doctors’ services, medical supplies, and preventive services.

Medicare also does not cover long-term care, including living in an assisted living facility or nursing home.

As a result, individuals and families cannot rely on Medicare to pay for the full cost of a nursing home or assisted living care. Instead, they need to make other arrangements to pay for long-term care.

Does Medicaid Cover Long-Term Care?

Medicaid might be an option to pay for long-term care in some situations. However, using it appropriately might require some long-term planning. In most circumstances, you will need at least five years to appropriately plan to use Medicaid for long-term care. Learn more about Medicaid planning by downloading our free e-book.

Long-Term Care Insurance

Neither regular health insurance nor Medicare addresses long-term care. So, how can individuals and families pay for long-term care? Long-term care insurance might be a good option.

Long-term care insurance is available from many private insurance companies. It generally covers expenses that Medicare will not cover. If you buy a policy under the age of 55, it is often more affordable than waiting until you are older.

Get Help with Long-Term Care Planning

You might also be able to tap into other resources to pay for long-term care, such as using investments or Veterans’ benefits. However, you need to have a full understanding of your options to plan appropriately.

Get help with long-term planning from the experienced elder law attorneys at Beasley & Ferber. We can help you review your options and make recommendations for your unique situation. Contact us today for more information.

Why It's Important to Have an Elder Professionally Diagnosed for Suspected Dementia

Dementia and, in particular Alzheimer’s Disease, get a lot of attention in the media. So much so, that when an elderly loved one starts to exhibit memory loss, dementia is the first thing that occurs to family members and close friends. This can be a misleading and dangerous thing to assume for many reasons. First, no one should be casually diagnosed with a medical condition without professional input. Second, it’s unfair to a person to be categorized with a condition when no such professional diagnosis has been made.

Important Differences Between Dementia and Age-Related Memory Loss

There are distinguishable differences between dementia and simple age-related memory loss that need to be understood. Dementia is a physical symptom of a physical condition. Alzheimer’s is just one disease that has dementia as its most prevalent symptom. Dementia is a disabling condition that progresses and worsens over time, often to the point where a person forgets who they are or who their family members are.

Age-related memory loss is something that happens to almost everyone over a long enough period of time. It is typically minor and not debilitating. People with age-related memory loss may repeat themselves, or forget why they came into a room, but they can usually still take care of themselves and recall earlier life events.

Dangers of Casually Diagnosing a Person With Dementia

When a person is casually diagnosed with dementia without having received a professional diagnosis, all sorts of estate planning problems can occur. The first one is the assumption that the person is not able to make sound choices about their estate. Later on, once the estate plan has been documented and executed, the person may balk at certain aspects that don’t align with their true wishes. Not only does this lead to family discord, but it also necessitates beginning the entire legal process over again, which is timely and costly.

Why a Professional Diagnosis is Essential

Establishing diminished mental ability is essential before a family member or anyone else can legally make decisions on behalf of someone else. In most cases, a court order is also needed. There is a great deal of grey area around estate planning for those with dementia, and that grey area is even bigger if a person attempts it without first having a professional diagnosis. If the professional diagnosis comes back with unexpected results, the plan could be negated. If the diagnosis affirms the suspected dementia, then the estate plan needs to be organized in such a way as to accommodate the expected increased needs of the dementia patient. Either way, it’s not just prudent to get the professional diagnosis first; it’s essential.

The very fact that family members are concerned about a loved one’s mental state is often a good sign that they have that person’s welfare in the right perspective. Working with an established elder law attorney in New Hampshire can help to ensure that the loved one’s estate is properly planned. Contact Beasley & Ferber today for more information.

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