David Cutner & Carole Lamson Introduce You to Elder Law & Medicaid Planning

Add comment July 2nd, 2010

Ease the Pain of Parenting Your Parents With Effective Elder Law Planning

Add comment October 19th, 2009

A book review in The Wall Street Journal of the 2009 memoir, Welcome to the Departure Lounge: Adventures in Mothering Mother, explores the challenges in caring for elderly parents. The author or the book, Meg Federico, is a journalist who chronicles her experiences with an ailing mother and stepfather in the later years of their lives.

New York State’s highest court has referred to long-term health care costs as “ruinously expensive.” Although the review points out that Ms. Federico’s parents were affluent, the costs and sometimes unforeseen expenses associated with their care were extraordinary: “At one point, the annual budget for Addie and Walter’s care is $400,000.” They receive care in their home, with their needs attended to by a team of personal aides.

Affluent families often operate under the misconception that a mother or father cannot qualify for Medicaid because of their substantial assets or income. This is simply untrue. With proper planning, parents can transfer their assets and obtain benefits that can provide for their needs during the remainder of their lives. This is the unique advantage what Elder Law has to offer seniors and their loved ones. Heirs can receive what is left when a parent is gone.

The WSJ article clearly portrays the family’s difficulties in confronting dementia and Alzheimer’s Disease. Ms. Federico travels back and forth between her home in Canada and her parent’s house in New Jersey to assist with and coordinate their care. In a situation like this one, an Elder Law attorney can help you with presenting your case to Medicaid that both parents require home care aides.

The creation of one or more trusts may be an important part of the plan to protect your parents’ assets. With trusts, multiple objectives can be achieved, including Medicaid eligibility, protection of assets from future creditors, avoiding probate, reducing taxes, and continuous management.

You can learn more about Trusts in Strategy # 8 and # 9 in Lamson & Cutner’s free Special Report, 25 Strategies to Prevent Financial Ruin from Long-Term Health Care Costs.

LAMSON & CUTNER, P.C., Attorneys for the Elderly and Disabled

Add comment May 14th, 2007

David Cutner announces that he and Carole Lamson have formed Lamson & Cutner, P.C., a law firm solely dedicated to providing a lifeline to the elderly and disabled. The firm combines resources of the founding partners’ former firms, and includes four experienced Elder Law attorneys, four experienced paralegals, and support staff.

The Best Elder Law Blog will be operated by Lamson & Cutner, P.C.

The firm’s mission is to dispel the lament “I can’t qualify for Medicaid. I have too much money.” Or, “I have too much income.” The firm’s response is “YES, YOU CAN QUALIFY” for valuable Medicaid and other public benefits with proper planning. If you need home care, or nursing home care, do not let incorrect assumptions about eligibility stand in your way of obtaining benefits. In addition, it is never too late to start planning, even if your needs are urgent and immediate.

Home care, or nursing home care, can be ruinously expensive. You do not have to “spend down” all of your hard-earned life’s savings, or jeopardize your home, in order to qualify for Medicaid. An experienced Elder Law attorney can inform you of your rights, and you can decide whether Medicaid planning is appropriate for you and your family.

At a minimum, Lamson & Cutner, P.C., recommends that the elderly or disabled should consult an experienced Elder Law attorney about creating a Durable Power of Attorney and a Health Care Proxy. These documents are essential for making sure that your wishes concerning your finances and property, and your health care, are carried out.

Look for further discussion about these issues in future postings on The Best Elder Law Blog, and review the firm’s website, www.lamson-cutner.com, for up-to-date information on issues of concern to the elderly and disabled.