Jun
19
2017
0

Durable Powers Of Attorney For Young Adults

We usually don’t think estate planning documents are necessary for younger adults. But consider the potential need for financial and health care powers of attorney for them. We received a recent call from a client whose 23 year old daughter, Jenny, was in a severe automobile accident. Jenny suffered traumatic brain injury in the accident. After two weeks in the hospital, she was transferred to a skilled nursing facility for rehabilitation. Jenny has not been cognizant enough to make medical or health care decisions for herself.

Our client called us because Jenny does not have financial or medical powers of attorney, or a HIPAA statement for access to her medical records. Our client and her husband are running into problems making medical and financial decisions on behalf of Jenny. They are also having difficulty gaining access to Jenny’s medical records. If Jenny’s incapacity continues, a conservatorship proceeding in probate court may be the only resolution to this problem. In a conservatorhip proceeding, the probate court judge appoints another person, the “conservator” to care for and make decisions on behalf of another adult, the “conservatee. A probate court conservatorship proceeding is time consuming, intrusive to the family and expensive. This dilemma could have been avoided if Jenny already had these basic estate planning documents. After all, we never know what may happen to any of us at any time.

Please feel free to contact our office should you need help with estate planning, asset protection, and qualifying for and applying for Medi-Cal. This information is not to be taken as legal advice, and you are encouraged to see your elder law attorney. At the Law Offices of Michael J. Young, at 1931 San Miguel Dr., Ste. 220, Walnut Creek, CA www.WalnutCreekElderLaw, 925-256-0298, lawyoung1@gmail.com, we practice Elder Law and we help Baby Boomers, Seniors and families through their Elder Care Journey. We help families with long-term care planning, asset-protection plans, comprehensive estate planning, wills, trusts and powers of attorney. We also help the older client and their families get their “Ducks in a Row” in order help them qualify for Medi-Cal and the VA Aid & Attendance Improved Pension benefit.

May
31
2017
0

California Still Has A 30 Month Look Back for Gifting

California still has the 30 Month Look Back Penalty Period for Gifting. There is a federal law known as the Deficit Reduction Act (DRA), which has a 60 month look back penalty period. However, California has not to date implemented that law. Medi-Cal eligibility workers are required to use the 30 month look back period.

When you apply for Medi-Cal, the application asks whether you have given away any countable, or non-exempt assets within the last 30 months. If you have made such a gift without consideration, or for less than fair market value within the 30 months prior to making the application, a penalty period of ineligibility may be imposed. Transfers of any kind between spouses are exempt and do not create any periods of ineligibility.

The penalty transfer amount, which is also known as the monthly average nursing home private pay rate, is presently $8,515. The penalty period starts when the transfer is made, as opposed to when you make the Medi-Cal application. To calculate the penalty period, first check to see if it was made more than 30 months prior to making the Medi-Cal application. If more than 30 months have passed, there is no penalty.

Lets assume however that you have gifted $50,000 to your grandchild on October 1, 2016, and that you are applying for Medi-Cal on January 1, 2017. The gift was made 3 months prior to the application, so the 30 month look back penalty rule applies. You then divide $50,000 by $8,515, which reflects 5.87, which is rounded down to 5 months of ineligibility, starting from the date of the transfer. As a result, you would be ineligible for Medi-Cal during the months of October, when the gift was made, November, December, January and February, but you would be eligible March 1, 2017. There are of course other rules to consider, which may be to your benefit, which your elder law attorney can help you with.

Please feel free to contact our office should you need help with applying for Medi-Cal, and asset protection. This information is not to be taken as legal advice, and you are encouraged to see your elder law attorney. At the Law Offices of Michael J. Young, at 1931 San Miguel Dr., Ste. 220, Walnut Creek, CA www.WalnutCreekElderLaw, 925-256-0298, lawyoung1@gmail.com, we practice Elder Law and we help Baby Boomers, Seniors and families through their Elder Care Journey. We help families with long-term care planning, asset-protection plans, comprehensive estate planning, wills, trusts and powers of attorney. We also help the older client and their families get their “Ducks in a Row” in order help them qualify for Medi-Cal and the VA Aid & Attendance Improved Pension benefit.

Mar
28
2016
0

You Can Spend Down Resources for Medi-Cal Eligibility

For eligibility for Medi-Cal, you cannot have more than $2,000 in non-qualified assets in your name by the end of the month that you want to be eligible. So, if you apply for Medi-Cal on April 1, 2016, you must be down to $2,000 in assets by April 30, 2016. In addition to the $2,000, you can have any amount of qualified assets, like IRAs. Under the Medi-Cal regulations, you can spend down your assets for anything for yourself, to create eligibility. For instance, you pay for  a new roof on your home, remodel your home, pay off bills, buy new clothes, pay down your mortgage, etc. Keep your receipts so that you can document your expenditures to Medi-Cal. If you are considering going into a nursing home and then applying for Medi-Cal, you should consider spending down your assets after you have applied to the facility, and have privately paid for awhile. You should keep in mind that if you have been admitted to a Medi-Cal certified facility, and have privately paid, you cannot by law be evicted or transferred from the facility because you want to change from a private pay patient to a Medi-Cal patient.

This information is not to be taken as legal advice, and you are encouraged to see your elder law attorney. At the Law Offices of Michael J. Young, at 1931 San Miguel Dr., Ste. 220, Walnut Creek, CA www.WalnutCreekElderLaw, 925-256-0298, lawyoung1@gmail.com we practice Elder Law and we help Baby Boomers, Seniors and families through their Elder Care Journey. We help families with long-term care planning, asset-protection plans, comprehensive estate planning, wills, trusts and powers of attorney. We also help Baby Boomers and families get their “Ducks in a Row” in order help them qualify for Medi-Cal and the VA Aid & Attendance Improved Pension benefit.

Nov
09
2015
0

Our Estate Plans Change As We Age

Most people I meet have a basic estate plan that is designed for younger people. The plan typically consists of a revocable living trust, pour over wills, financial durable powers of attorney, and health care directives. These plans were typically designed some years ago. The emphasis on that planning was to ensure that if the parents died, their children would be taken care of through resulting trusts that would be funded upon the passing of both parents. Trustees and guardians were appointed to take care of the children. The surviving spouse would be taken care of through the trust and with the purchase of life insurance that would take care of the surviving spouse and pay off the mortgage if one spouse died.

After the children grow up and move out, the emphasis for our planning changes. We begin to think about our health care needs as we grow older. We begin to wonder how we will be able to pay for the costs of in-home care, assisted living facilities, a board and care home and a possible nursing home stay. We also want to be able to protect our assets. Our estate plan that was created when we were younger is no longer adequate for us. Now that we are older, our estate plans should be converted to long term care plans, with the help of an elder law attorney. This planning takes into account qualifying for government benefits such as Medi-Cal, which can pay for a stay in a skilled nursing facility, and the VA Aid and Attendance Pension Benefit, which can help pay for in-home care or assisted living facility costs. This planning may also utilize a new kind of life insurance, which has a long term care rider. Instead of just paying a death benefit to your spouse or loved one when you die, the long term care rider can be utilized during your life to pay for  in-home care, assisted living facilities, a board and care home and a possible nursing home stay. This type of policy is much easier for the older client to qualify for than traditional long term care insurance. Moreover, we want a plan that will help to preserve our assets for as long a possible as we get older.

The modern developments in estate planning for the older client involve asset protection, and a plan to determine how an increased need for care will be paid for over time.

For additional information please feel free to contact our office. This information is not to be taken as legal advice, and you are encouraged to see your elder law attorney. At the Law Offices of Michael J. Young, at 1931 San Miguel Dr., Ste. 220, Walnut Creek, CA www.WalnutCreekElderLaw, 925-256-0298, lawyoung1@gmail.com we practice Elder Law and we help Baby Boomers, Seniors and families through their Elder Care Journey. We help families with long-term care planning, asset-protection plans, comprehensive estate planning, wills, trusts and powers of attorney. We also help Baby Boomers and families get their “Ducks in a Row” in order help them qualify for Medi-Cal and the VA Aid & Attendance Improved Pension benefit.

May
04
2015
0

Medi-Cal Gifting Rules for a Single Person

Click the link below to find out about the Medi-Cal gifting rules for a single person.  Medi-Cal presently has a 30 month look-back period for gifting. The period of ineligibility starts when the gift is made. When the Deficit Reduction Act (DRA) rules are adopted in California, there will be a five year look back period with the penalty period beginning when you are in a nursing home and otherwise eligible for Medi-Cal.

CLICK HERE: Walnut Creek, CA Elder Law Attorney Michael J. Young talks about Medi-Cal gifting regulations for a single person

Your elder law attorney will help you to increase the quality of your life, and not just figure out who-gets-what after you pass away. For additional information, you can contact your elder law attorney Michael J. Young. This information is not to be taken as legal advice, and you are advised to see your elder law attorney. At the law offices of Michael J. Young, 1931 San Miguel Dr., Ste. 220, Walnut Creek, CA http://www.WalnutCreekElderLaw.com, 925-256-0298,lawyoung1@gmail.com, we practice elder law and we help Baby Boomers, Seniors and families through their Elder Care Journey. We help families with Sustainable Estate Planning TM, long term care planning, asset protection plans, special needs trusts, comprehensive estate planning, wills, trusts and powers of attorney. We also help Baby Boomers and families get their “Ducks in a Row” in order to help them qualify for Medi-Cal and the VA Aid & Attendance Improved Pension Benefit.

Mar
06
2015
0

Will Medi-Cal Take My Home?

We often receive calls in our office from people asking, “Is Medi-Cal going to take my home?” The answer to this question should be NO through proper long term care planning with your elder law attorney. To understand the issues involved, we must first look at the Medi-Cal regulations. In addition we must confirm that you have the required asset protection and government benefits planning language you will need in your revocable living trust and financial durable power of attorney. This language is required for protection of your home and other assets from a Medi-Cal lien if you lose mental capacity. We have discussed in previous blogs how the language in estate planning documents is different for the older client.

Under the Medi-Cal regulations, your home can generally be confirmed as an “exempt asset” when qualifying for Medi-Cal. The Medi-Cal applicant, or their representative, must confirm “an intent to return home” on the Medi-Cal application. Our clients also confirm “an intent to return home” in their long term care plan prepared by our office. Your home is also exempt for qualifying for Medi-Cal if a spouse, minor, blind or disabled child lives in the home. There are also other ways to confirm the home as an exempt asset.

So, you can generally qualify for Medi-Cal and keep your home. But the next issue concerns what happens if you die after you have been on Medi-Cal? After you die, Medi-Cal will want to  recoup from your estate the money they have paid to the nursing home on your behalf. They will follow a lien on your property until you die, and then pursue to collect from the equity in your home. If you have a surviving house in the home after you die however, the state will not pursue collection against the home until your spouse dies.

You should keep in mind that the state can only collect against assets, like your home, that are in your estate when you die. They will also collect against your interest in the home when your spouse dies. So, what would happen if you transfer the home out of your estate before you die? Once the home is confirmed as an exempt asset, you can transfer your title interest in the home to your spouse or to another family member, for instance. There is no transfer penalty for transfer to a spouse. There is also no transfer penalty to another family member after the home is confirmed as an exempt asset. Your elder law attorney will help you regarding this planning AND any real property transfer. He will also advise you on how to avoid capital gains tax on the transfer and ultimate sale of the home, and how to avoid a re-assessment by the county tax assessor upon transfer of the home. If you transfer your interest in your home to your spouse before you die, the state will not be able to recover against the home. If you transfer your interest in the home to another family member, the state will not be able to recover against the home when you die. You will require the services of an elder law attorney for this planning and to make these transfers.

If you have lost mental capacity, can you transfer your title interest in the home to your spouse or other family members? If you do not have a long term care plan prepared by an elder law attorney with the required language in your revocable living trust and financial durable power of attorney, the answer is probably NO. The majority of estate plans do not include the appropriate asset protection language in the trust and financial durable powers of attorney that are required to make this transfer upon incapacity. It is possible to go to court and obtain an order reforming your trust and financial durable power of attorney to make the transfer, but this process is time consuming and fairly expensive.

Your elder law attorney will help you to increase the quality of your life, and not just figure out who-gets-what after you pass away. For additional information, you can contact your elder law attorney Michael J. Young. This information is not to be taken as legal advice, and you are encouraged to see your elder law attorney. At the law offices of Michael J. Young, 1931 San Miguel Dr., Ste. 220, Walnut Creek, CA http://www.WalnutCreekElderLaw.com, 925-256-0298,lawyoung1@gmail.com, we practice elder law and we help Baby Boomers, Seniors and families through their Elder Care Journey. We help families with Sustainable Estate Planning TM, long term care planning, asset protection plans, special needs trusts, comprehensive estate planning, wills, trusts and powers of attorney. We also help Baby Boomers and families get their “Ducks in a Row” in order to help them qualify for Medi-Cal and the VA Aid & Attendance Improved Pension Benefit.

May
31
2013
0

Baby Boomer Alert!

You should get your “Ducks In A Row” now. Many of us Baby Boomers, born between 1946 and 1964, have helped to take care of our elderly parents. Both of my parents are gone now, but my siblings and I helped our parents through their “Elder Care Journey,” which I talk about in my workshops. We helped our parents, the best that we could, with issues concerning their illnesses, memory issues, trips to and from the hospital and trips to and from nursing homes. We helped to get in-home-care for them, and helped to get them into assisted living facilities and a board and care home. Finally, both parents passed away while on hospice.

 I remember my brother Charles saying to me early on regarding helping our parents, that “This isn’t getting any easier.” And I remember thinking to myself that it won’t be that much longer, in the scheme of things, before my wife and I, who are both Baby Boomers, could need care. We want to make things as easy as possible for our children to help care for us.

 The first thing Baby Boomers should do is check their estate planning documents, including their revocable living trust and financial durable powers of attorney, to be sure that the proper asset protection and government benefits language is in the documents. The boiler plate language in the majority of estate planning documents will not help in these areas if you lose mental capacity. If the language is not there, and you lose mental capacity, your family may have to resort to going to court to reform your documents, which can be costly.

 With proper long term care planning, which starts with your estate planning documents, Medi-Cal could be accessed to pay for nursing home stays if you use up your Medi-Care days. And, there techniques you can use to protect the home from a Medi-Cal lien, which can be specified in your estate planning documents. In addition, the VA Aid and Attendance Pension Benefit is there to help older war time veterans, and this benefit can be used to help pay for in home care and assisted living facility costs. Proper language in your estate planning documents will make it much easier for your children to follow through with your care and to access these benefits, especially if you lose your mental capacity. 

At the Law Offices of Michael J. Young, at 1931 San Miguel Dr., Ste. 220, Walnut Creek, CA www.WalnutCreekElderLaw, 925-256-0298, lawyoung1@gmail.com we practice Elder Law and we help families through the Elder Care Journey. We help families with long-term care planning, asset-protection plans, comprehensive estate planning, wills, trusts and powers of attorney. We also help families get their “Ducks in a Row” in order help them qualify for Medi-Cal and the VA Aid & Attendance Improved Pension benefit.

 This information is not to be taken as legal advice, and you are encouraged to see your elder law attorney regarding any planning.

Apr
19
2012
0

The Importance of an “Elder Law” Durable Power of Attorney

     Does your Financial Durable Power of Attorney (financial DPA) contain asset protection and government benefits qualification language? It probably does not, unless it was prepared by an elder law attorney. If you lose mental capacity, your spouse or children may be prevented from gifting your assets to themselves, in order to help you qualify for Medi-Cal or for the VA Aid & Attendance Pension benefit.

If your financial DPA contains any gifting language at all, it is probably limited to the annual gift tax exclusion amount, which is $13,000 per person this year. This language is usually of little help for Medi-Cal qualification. In addition, the language will probably not allow for gifting to the ”attorney in fact”, who is the person acting for you.  Specialized language is required under the law in order to allow for any gifting to the person acting as the “attorney in fact.” This specialized language usually does not appear in a “regular” financial durable power of attorney.

For instance, the home can easily be established as an exempt asset for Medi-Cal qualification. If the home is in the name of the Medi-Cal applicant who has lost mental capacity, and we want to transfer the home to a child and reserve a life estate to the applicant in order to avoid a Medi-Cal lien, most financial durable powers of attorney will not allow for this. Most financial durable powers of attorney will allow a transfer only upon receipt of consideration from a sale for fair market value of the real property.

To give another example, the Medi-Cal applicant, under the regulations, is allowed to own a life insurance policy, with a pay on death figure in any amount. However, in order to qualify for Medi-Cal, the applicant’s life insurance policy cannot have more than $1500 cash value. If there is a $5,000 cash value, for instance, the Medi-Cal applicant cannot qualify. The remedy is to liquidate the cash from the policy and then gift it out. What do you do however if the Medi-Cal applicant has lost capacity? We need to then look at the powers in the financial durable power of attorney. However, although most financial DPAs may allow for a liquidation of the cash value, they will not allow you to gift the cash out. The Medi-Cal applicant can only retain $2,000 in non qualified accounts, and if the cash from the policy cannot be gifted, it would have to be spent before qualification for Medi-Cal can be obtained.

The financial DPA in an elder law context, is also coordinated with the revocable living trust of the applicant. There should be specialized asset protection language in the trust, which refers to the financial DPA. This specialized language will allow the attorney in fact to “stand in the shoes” of the maker of the trust, for all purposes, including for Medi-Cal qualification. This technique is allowed by law, and provides the greatest amount of flexibility for the family who is helping the older person who has lost capacity, when we are applying for Medi-Cal.

Remember that if existing estate planning documents are not updated before the older person loses capacity, we may have to resort to a court proceeding to modify the language in the documents. This process is expensive and is not always guaranteed. The best approach is to pre-planning, and to have your estate planning documents updated as early as possible by a qualified elder law attorney, who practices full time in this area of the law. 

Written Michael J. Young, elder law attorney in Walnut Creek, CA. www.WalnutCreekElderLaw.com mike@WalnutCreekElderLaw.com. 1931 San Miguel Dr., Suite 220, Walnut Creek, CA 94596. 925-256-0298. Mr. Young serves Contra Costa and Alameda Counties, including the cities of Walnut Creek, Alamo, Danville, Concord, Brentwood, Pleasant Hill, Antioch, Clayton, etc. Mr. Young advises clients regarding Medi-Cal, nursing homes, asset protection, the VA Aid and attendance pension benefit, and long term care planning. Mr. Young is a Concord Elder Law Attorney with offices in Walnut Creek, CA.

Written by mike in: Aid & Attendance Antioch,Aid & Attendance Brentwood,Alzheimer's Care,Alzheimer's Care Antioch,Alzheimer's Disease,Alzheimer's Disease Antioch,Alzheimer's Medi-Cal,Antioch Attorney,Antioch Attorney Senior,Antioch Elder Law Attorney,Antioch Nursing Home Attorney,Antioch Nursing Homes,Antioch Senior Law Attorney,Brentwood Attorney Senior,Brentwood CA Asset Protection Attorney,Brentwood Elder Law,Brentwood Elder Law Atorney,Brentwood Elder Law Attorney,Brentwood Nursing Home Attorney,Brentwood Senior Law Attorney,CA Attorney Asset Protection,Concord Elder Law Attorney,Concord Medi-Cal Attorney,Concord Nursing Home Attorney,Concord Senior Law Attorney,Concord VA Attorney,Contra Costa Elder Law,Contra Costa Nursing Home Attorney,Elder Abuse Antioch Attorney,Elder Law Attorney Contra Costa,Elder Law Attorney Walnut Creek,Elder Law Estate Planning,Estate Planning Attorney Antioch,Estate Planning Attorney Brentwood,Estate Planning Attorney Concord CA,Estate Planning in California,Hospice Care,Medi-Cal Attorney Brentwood,Medi-Cal Attorney Concord,Medi-Cal Attorney Pleasant Hill CA,Medi-Cal Information,Medi-Cal Planning & Qualification,Medi-Cal Planning Antioch,Medi-Cal Planning Concord,Medi-Cal Qualification,Medi-Cal attorney,Medi-Cal eligibility Concord CA,Nursing Home Attorney,Nursing Home Attorney Antioch CA,Nursing Home Attorney Brentwood,Nursing Home Costs Antioch,Pay Nursing Home Care Concord,Pay Nursing Home Cost Concord,Pleasant Hill Elder Law Attorney,Pleasant Hill Senior Law Attorney,Probate & Trust Administration,Probate Attorney Antioch,Qualification for VA Aid & Attendance,Senior Law Attorney Concord,Uncategorized,VA Aid & Attendance Attorney Antioch,VA Aid and Attendance Concord CA,VA Attorney Antioch,VA Attorney Brentwood,VA Planning Attorney Concord,VA Qualification Concord,Veteran's Benefits,Voncord VA Attorney,Walnut Creek Elder Law,Walnut Creek Medi-Cal Qualification,aid & attendance benefit,aid and attendance,antioch,brentwood,ca,california,concord,contra costa county,danville,elder law,elder law attorney Pleasant Hill,falling,nursing home costs,nursing homes,parkinson's disease,senior law,senior law ca,senior law contra costa,senior law walnut creek,walnut creek | Tags: , , , , , , , , , , , , , , , , , ,
Oct
17
2011
0

What Is The Difference Between Elder Law and Estate Planning?

I practice Elder Law and represent the older client and their families. When clients come to see me, their concerns are not so much about what happens when they die, but more about ’What happens if they don’t die.’

Of course, they want to make sure that their assets pass to their family with a minimum of expenses and taxes. But the bigger and more complicated question is, “What happens if I don’t die?” As we know, Americans are living longer all the time. The infirmities of old age may require that we have in home care assistance, or go to an assisted living facility, board and care home or eventually a to a nursing home.  We are of course concerned about how we pay for these costs. A regular estate plan does not address these needs. An elder law attorney can prepare a long term care plan for you, and address these needs. He will also address the concern of passing assets to their family.

To put it another way, a regular estate plan insures that if you die, your assets will be passed on to your family the way you want. The operative word is “if”. A  regular estate plan will not help preserve assets so that hopefully there will be something left when you die to pass on to your family. As we know, the assets of the older client could be depleted by a nursing home stay or lengthy illness, which could leave their spouse or heirs with nothing.  

If you have sufficient assets to pay for long-term care or nursing home costs without running out of funds, then a regualr estate planning attorney may be all you need. However, if you cannot afford the cost of a lenghty nursing home stay, of around $90,000 per year or $180,000 per year for a couple, or more, then an elder law attorney would be able to help you.

For a real life example, Mary and Jim have about $300,000 in assets and a home worth around $500,000. Jim needs assistance and uses a wheelchair. Mary has been providing for his care, but recently has shown signs of forgetfulness and confusion. She has been diagnosed by her doctor as having early signs of dementia.   

An estate plan is of course important to Jim and Mary, but this won’t help them deal with the problems they are presently dealing with. They want to tackle the issue of how they will be able to afford the cost of nursing home care should either one or both of them need it. They want to establish how they will be taken care of should Mary’s dementia become more advanced. They want to find out if if they can stay in their home with assistance.

This couple needs a life plan, specific to them, to meet their needs for the future. Jim and Mary need to seek the advice of an elder law attorney.

Written Michael J. Young, elder law attorney in Walnut Creek, CA. www.WalnutCreekElderLaw.com mike@WalnutCreekElderLaw.com. 1931 San Miguel Dr., Suite 220, Walnut Creek, CA 94596. 925-256-0298. Mr. Young serves Contra Costa and Alameda Counties, including the cities of Walnut Creek, Alamo, Danville, Concord, Brentwood, Pleasant Hill, Antioch, Clayton, etc. Mr. Young advises clients regarding Medi-Cal, nursing homes, asset protection, the VA Aid and attendance pension benefit, and long term care planning. Mr. Young is a Concord Elder Law Attorney with offices in Walnut Creek, CA.

Written by mike in: Aid & Attendance Antioch,Alzheimer's Care Antioch,Alzheimer's Disease Antioch,Alzheimer's Medi-Cal,Antioch Attorney Senior,Antioch Elder Law Attorney,Antioch Nursing Home Attorney,Antioch Nursing Homes,Brentwood Attorney Senior,Brentwood CA Asset Protection Attorney,Brentwood Elder Law,Brentwood Elder Law Atorney,Brentwood Nursing Home Attorney,Brentwood Senior Law Attorney,Concord Medi-Cal Attorney,Concord Nursing Home Attorney,Concord VA Attorney,Contra Costa Elder Law,Contra Costa Nursing Home Attorney,Elder Abuse Antioch Attorney,Elder Law Attorney Contra Costa,Elder Law Attorney Walnut Creek,Estate Planning Attorney Antioch,Estate Planning Attorney Brentwood,Estate Planning Attorney Concord CA,Medi-Cal Attorney Brentwood,Medi-Cal Attorney Concord,Medi-Cal Attorney Pleasant Hill CA,Medi-Cal Planning Antioch,Medi-Cal Planning Concord,Medi-Cal eligibility Concord CA,Nursing Home Attorney Antioch,Nursing Home Attorney Antioch CA,Nursing Home Attorney Brentwood,Nursing Home Costs Antioch,Pay Nursing Home Care Concord,Pleasant Hill Elder Law Attorney,Pleasant Hill Senior Law Attorney,Qualification for VA Aid & Attendance,Senior Law Attorney Concord,VA Aid & Attendance Attorney Antioch,VA Aid and Attendance Concord CA,VA Attorney Antioch,VA Attorney Brentwood,VA Planning Attorney Concord,VA Qualification Concord,Walnut Creek Elder Law,Walnut Creek Medi-Cal Qualification,elder law attorney Pleasant Hill,parkinson's disease,senior law contra costa,senior law walnut creek | Tags: , , , , , , , , , , , , , , , , , , , ,
Sep
16
2011
0

Life Expectancy and VA Aid & Attendance

The VA Aid and Attendance Improved Pension Benefit can help pay for the costs of in home care, assistant living facilities and board and care homes for the older wartime veteran. A single veteran can receive up to $1,644 per month, or $19,736 per year. A widowed Spouse can receive up to $1,056 per month or $12,681 per year. This pension benefit is considered non service connected, meaning that you do not have to be suffering from a wartime injury to obtain the benefit.

This VA program is needs based, and your elder law attorney can help you qualify and apply for this VA benfit. When we plan for Aid & Attendance, we also plan for Medi-Cal qualification at the same time. The Medi-Cal qualification rules regarding gifting and transfer penalties must be taken into account when you plan for Aid & Attendance. If you do not do so, you may become qualified for Aid & Attendance, but disqualified for Medi-Cal. Medi-Cal pays for nursing home costs, which can run $7500 per month or more in Contra Costa County.

As part of the Aid & Attendance Improved Pension Benefit qualification, the VA now considers the veteran’s life expectancy in determining how much a claimant can retain in assets. If the veteran has over $50,000 in assets, not including the home, you may want to pursue transfers of assets and asset protection, and coordinate any such transfers with Medi-Cal transfer regulations. You should not transfer assets without the help of your elder law attorney, who is also certified by the VA.  

This information is not to be taken as legal advice, and you are encouraged to see an elder law attorney for your particular situation. 

Written Michael J. Young, lawyoung1@gmail.com, elder law attorney in Walnut Creek, CA. www.WalnutCreekElderLaw.com mike@WalnutCreekElderLaw.com. 1931 San Miguel Dr., Suite 220, Walnut Creek, CA 94596. 925-256-0298. Mr. Young serves Contra Costa and Alameda Counties, including the cities of Walnut Creek, Alamo, Danville, Concord, Brentwood, Pleasant Hill, Antioch, Clayton, etc.

Written by mike in: Alzheimer's Care,Antioch Elder Law Attorney,Antioch Senior Law Attorney,Brentwood Attorney Senior,Brentwood Elder Law Atorney,Brentwood Senior Law Attorney,Concord Elder Law Attorney,Concord Medi-Cal Attorney,Elder Law Attorney Walnut Creek,Estate Planning in California,Hospice Care,Medi-Cal Planning & Qualification,Medi-Cal attorney,Pleasant Hill Elder Law Attorney,Pleasant Hill Senior Law Attorney,Probate & Trust Administration,Veteran's Benefits,aid & attendance benefit,aid and attendance,antioch,ca,elder law attorney Pleasant Hill,nursing home costs,nursing homes,parkinson's disease,senior law,senior law ca,senior law contra costa,senior law walnut creek,walnut creek | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Powered by WordPress | Theme: Aeros 2.0 by TheBuckmaker.com