Family Matters & Estate Law Archives - Page 4 of 4

How to Protect the Aging from Aging Issues

Posted on July 26, 2015

How does a person protect an aging family member who still has some decision making abilities? Waning decision making abilities are more likely for people as they age. I see elderly people get increasingly frustrated by mixing up their family members’ names, forgetting what they were talking about in mid-sentence, reminiscing about events that never took place. These individuals can still make certain decisions at certain times, but are not really 100% competent. The problem is that courts are loath to consider these people incapacitated, so younger family members are stuck worrying that a financial predator will strike the aging client in a moment of weakness. MONEY: When paid care givers are working at the homes of these individuals, it

Cain and Abel: When Siblings Despise Each Other

Posted on July 17, 2015

There are no perfect families. Even the first biblical family had an extreme sibling rivalry (with some rather bad results). And while most of us don’t have to worry about such an extreme outcome, many parents do worry that their children will not play well in the estate sandbox as their parents age and pass away. The worries: One child helps mom and dad as they age, is given a lot of money prior to and after their passing, and the other child brings a lawsuit for absconding with the money that they feel is one half theirs. One child helps mom and dad as they age, is given the same amount of money as the child who did nothing,

Medicaid Planning: Don’t Be Too Eager to Take Mom & Dad’s Money

Posted on February 24, 2015

When a parent gets to the point where they consider enlisting personal care, such as home cleaning, cooking, or even more advanced issues such as help bathing or toileting, their children have been considering it for a while. Oh, and the children not only don’t wish to pay for mom and dad’s care: The kids want mom and dad’s money, and want Medicaid to pay for the care. Children feel entitled to their parent’s money. Believe me, they do, even “perfect children.” And several parents agree with the philosophy of “I’ve worked hard, and I don’t want the government to take my money, so I’ll leave it to my kids instead.” Let me be clear: When your parents are in

Medicaid Planning for the Single Non-Parent: Huh?

Posted on February 24, 2015

The heading of this posting says it all: I see very little reason for a single individual with no children to do Medicaid planning. Now let me explain why: First, Medicaid is designed to transfer family wealth. And yes, a niece, nephew, brother or sister are all considered family. But it is very rare that siblings or aunt / uncles share the same bond and sense of responsibility that are indicative of the parent / child relationship. Parents will sacrifice a great deal for their children, but most aunts and uncles have much more limited boundaries. I do see exceptions, but they are rare. Now for the real heart of the topic, and don’t be surprised when you read this: