How long have you been practicing elder law?

In the big scope of things, elder law is actually a young field of law. However, there are elder law attorneys who have been practicing for over 20 years. As with anyone you hire, you want someone who is experienced and well versed in their field.

What can I do to remain financially secure if myself or my spouse needs long-term care?

Setting yourself up for retirement is one thing, but what if you get sick, or you are diagnosed with dementia, and need long-term care for an extended period?

You’ve been told that you need to spend down all your assets or sell your home to qualify for Medicaid. Most don’t realize there are legal ways to protect your hard-earned assets. Ask your elder law attorney how to avoid having your life savings wiped out by rising cost of long-term care.

What are the differences between Estate Planning documents and Elder Law powers of attorney?

Basic estate planning powers of attorney will often contain broad language stating that the agent can manage financial affairs, but what most people don’t realize is that language is not sufficient on its own. An agent is only allowed to do what is specifically stated in the document. Broad terms about managing financial affairs are rarely enough when it comes to long-term care planning.

Setting up your estate planning documents with an elder law attorney ensures that your documents will have the right long-term care planning language you need to protect your assets if you need care.

What if a doctor has signed a letter stating that my loved one does not have capacity – can they still sign estate planning documents?

A doctor might sign a letter of incapacity if your loved one can no longer manage their financial affairs, know what day of the week it is, or even forgets to take medications. However, that does not mean that your loved one doesn’t have legal or testamentary capacity.

Legal capacity is defined as, “That measure of mental ability which is recognized in law as sufficient for the making of a will. A testator to have such capacity must have sufficient mind and memory to intelligently understand the nature of business in which he is engaged, to comprehend generally the nature and extent of property which constitutes his estate, and which he intends to dispose of, and to recollect the object of his bounty.”

An elder law attorney will know the right questions to ask to determine if estate planning documents can be signed.

Should I transfer my assets now to my children to qualify for Medicaid?

When applying for Medicaid, the state “looks back” five years to see if any gifts have been made by the one needing Medicaid or their spouse. That does not mean that you cannot make gifts, it just means you will be penalized for those gifts. In fact, a property gifting program is a great Medicaid planning technique. The key is calculating penalties prior to making gifts.

There are several other planning techniques in addition to gifting including but not limited to personal care contracts, rental agreements, private annuities and raising the Community Spouse Resource Allowance.

As always, anyone who is considering making gifts in order to preserve assets and qualify for Medicaid should first consult with a knowledgeable elder law attorney as gifting in some circumstances may constitute financial elder abuse.

How much does it cost to hire an elder law attorney?

Fees can vary between attorneys, as well as the method in which they charge. While some charge hourly fees, others charge flat fees. It is important to ask your attorney at the initial consultation how they determine their fees before signing an agreement.

KC Elder Law is unique in that we do not charge for the initial consultation. It is important to us to get the information we need to give you a very personalized plan. From there, we charge a flat fee that is specific to your situation. It is our priority to make sure that you always feel comfortable calling our office at any time during the estate and Medicaid planning process, without the stress of wondering how much each phone call or email will cost you.