Elder Law
As New Jersey elder care attorneys we help families deal with the many issues that come with aging. Over the years, FriedmanLaw has helped clients arrange quality long term care without sacrificing their savings, protect a loved one with diminished capacity, obtain guardianship, safeguard loved ones against facility charges, resolve issues with facilities, and much more.
Elder law, Medicaid and long term care planning
We can help you create a comprehensive estate plan to transfer your estate as you choose, minimize tax, deal with a loved one’s special needs, and avoid the need for guardianship if you lose mental capacity.
If my spouse or parent has to enter a nursing home, how can we protect assets?
Will Medicaid help me pay for assisted living or in-home care?
What should I do if my loved one’s mental abilities deteriorate?
How can I get the most out of my Social Security, Medicare, or long term care insurance?
Medicaid
Medicaid Planning to Fund Long Term Care
With nursing homes charging over $10,000 per month, families can face financial ruin if they go it alone when a loved one needs long term care. Fortunately, sophisticated Medicaid planning techniques may help clients fund long term care in a nursing home, assisted living facility, or at home without impoverishing loved ones. While it never is too late to plan, starting earlier usually preserves more options and savings.
Applying for Medicaid
Applying for Medicaid to pay for long term care in a nursing home, assisted living facility or with home care aides can be burdensome. We can handle the application for you or guide you through the process from start to finish.
Medicare
Medicare can appear deceptively simple whereas it is extremely complex and chock full of well meaning but confusing alternatives. Choose well and you can get the medical coverage you need and save a lot of money in the process. But, bad choices can trigger large expenses and premium penalties. As with Social Security, FriedmanLaw is here to help you evaluate the myriad options and help you pick the coverage that is right for you and your family. Read more about Medicare.
Non-Attorney Medicaid Advisors
When it comes to Medicaid, you have to be careful about who you work with. Nursing homes, assisted living facilities and other long term care facilities sometimes push families to work with non-attorney Medicaid advisors when seeking Medicaid. These advisors may even apply for Medicaid for free. However, these companies are often paid by the facility, and can’t give you legal advice on protecting assets, preserving savings for family, etc.
This consumer brief from the New Jersey Division of Consumer Affairs about non-attorney Medicaid advisors discusses how these companies cannot give legal advice: “Services that require the professional judgment of a lawyer include strategies (through wills, trusts, powers of attorney, guardianships, asset transfers, spend-down of resources, gifts, estate planning and tax implications, and marriage and divorce) to facilitate Medicaid eligibility. In New Jersey, providing advice on strategies to become eligible for Medicaid is prohibited because it involves the unauthorized practice of law.”
The bottom line is that with long term care typically costing over $10,000 per month, it pays to work with a lawyer who is on your side, and has your best interests in mind.
Avoiding Liability to Nursing Homes / Assisted Living Facilities & Other Issues
Never sign a nursing home or assisted living facility admission agreement, application, or financial disclosure form without counsel. These documents are contracts with all sorts of traps for the unwary. For instance, they can obligate you to a facility and limit your ability to qualify for Medicaid and protect savings. Without a good understanding of the papers, you may give up valuable legal rights and take on personal liability. We frequently negotiate more favorable terms when facility forms are onerous. We also help families we resolve other issues relating to such things as care, insurance coverage, costs, room changes, and access.
Guardianship and Alternatives to Protect a Vulnerable Adult
When mental capacity declines whether due to Alzheimer’s disease, dementia, stroke, or other cause, retirement plans, savings, and investments can be frozen until a court appoints a guardian. You may be surprised to learn that spouses don’t automatically have the right to act for one another and court authorization may be needed to do Medicaid planning. Because guardianship requires a potentially time consuming and costly court proceeding, addressing capacity issues when they first arise can lead to big savings. We frequently help families obtain guardianship when needed, but we also suggest simpler alternatives when available. Thus, we urge everyone with trustworthy loved ones to enter into power of attorney and advance directive for healthcare before capacity declines as further discussed at our estate planning pages.
Social Security – Retirement, Disability,and SSI
Social Security includes three separate programs. Retirement benefits vary depending on work experience, marital history, and when benefits begin. Social Security Disability and SSI are further discussed in our special needs pages [link], but Social Security Disability is somewhat akin to Social Security retirement benefits that start early due to disability while SSI is cash assistance based on financial need.
Contrary to popular perception, Social Security retirement is anything but simple and straight forward. Although benefits can start as early as age 62, taking benefits too soon or deferring their start for too long can cost many thousands of dollars in lost benefits. Because the rules that govern Social Security retirement are exceedingly complex and include numerous options, it is almost impossible to determine the best way to take benefits without substantial expertise and computer programs. Although shrouded in complex formulas and unfamiliar terms, the difference between obtaining professional advice and going it alone can be over a hundred thousand dollars. We can help you maximize Social Security benefits for you and your family.
Evaluating Long Term Care Insurance
Is long term care insurance right for you? Long term care insurance can save a great deal if an insured person has a stroke or develops dementia or other debilitating condition but it can be expensive and confusing. Qualifying policies can coordinate with Medicaid and substantially increase savings potentially available through Medicaid planning. However, the wrong policy can be a complete waste of premiums. What makes a policy good or bad? Cost, benefits, and quality of agent and insurer are the main factors. For instance, it makes little sense to buy an unduly small benefit even though that will save on premiums. While some families may like new options such as return of unused premium and combination life insurance benefits, the extra cost of these bells and whistles must be carefully evaluated. By the same token, some people may consider essential add ons like inflation riders, premium waivers, and alternate care coverage regardless of costs.
As with so many aspects of elder law, long term care insurance entails numerous alternatives that can be confusing or even tricky. We can help you wade through the options to find a policy that accomplishes your particular goals.
Continuing Care Retirement Communities
Continuing Care Retirement Communities (CCRC’s) have become more popular than ever in recent years, but there are both benefits and risks. With CCRC’s, the resident usually pays a large deposit upfront, and the CCRC promises that the resident can receive care their whatever their needs, from independent living, to assisted living, to nursing home care. However, there are several issues. One is that it can ultimately be difficult to get your deposit back, especially if the facility encounters financial trouble. Another issue is that CCRC’s are often sold, and the new owners may do things differently, but it may be difficult for residents to leave if they don’t like it because of the upfront deposit. Understanding the benefits and risks of CCRC’s can help save you money and stress. Read more about CCRC’s here.
We’re Here to Help
If you or a loved one has an issue with Medicaid, long term care, Medicare, nursing homes, guardianship, or other elder law matters, we’ve probably seen similar issues in our decades of experience and would be happy to help. Call or email us today.