John Lane Law

Taking Care of an Elderly Parent Can be a Full-time Undertaking - John M. Lane Law, PLLC

“Each year over 43 million Americans provide unpaid care to a family member, usually a parent.”

Adult children who care for an elderly parent will typically be asked to oversee and provide medical care and finances. However, sometimes the caregiving goes far beyond this.  As a result, many adult children caregivers fail to think about the financial impact that this can have on their own monthly budgets and retirement funds.

MarketWatch’s article, “Read this before becoming your parents’ caregiver,” reports that, in many instances, the adult child caregiver is still able to maintain a full career and family life. However, in certain situations, the family member who’s assumed the role of a full-time caregiver must reduce his or her work hours or forego a promotion because of the time commitment. In the majority of situations, we see adult children answer the call of caregiving in a crisis when there’s an imminent need. A short-term assignment can be doable for a professional with his or her other family and personal responsibilities, but when the duties last longer, he or she will realize there isn’t enough time or resources to do it all.

A caregiver needs to take the actions necessary to help without putting his or her own family’s financial future at issue. When there are siblings and other family members involved, it is necessary to communicate realistic expectations of what areas of care are needed, responsibilities, time commitments and whether there will be any financial compensation.

A Personal Care Agreement can be a good guideline.  It will help to detail which individuals are responsible for various aspects of care, the amount of time required and any compensation. The biggest question that people have about this agreement, is how to get paid to be a family caregiver.

A Personal Care Agreement can give an adult child caregiver the peace of mind and security that he or she won’t suffer undue financial consequences, as well as provide clear details for other family members as to the expectations when assuming these important caregiving responsibilities.

This agreement can help avoid some of the misunderstandings that can occur when many siblings and loved ones are trying to help (or fail to pitch in). It also can protect a family member who is losing his or her own income and time to provide caregiving. This is because reduced hours or an exit from the workforce to care for a loved one, can have a major personal financial impact. In addition, the time for a personal and immediate family life with one’s own spouse and children can nearly evaporate with caregiving demands.

You can work with an Elder Law attorney to draft a Personal Care Agreement. Having an attorney review your Personal Care Agreement can even help to confirm that care payments were a legitimate and necessary expense, rather than a way to conceal assets from Medicaid.

Contact John M. Lane Law, PLLC to discover the Simplified Solution to your estate planning needs. Everyone has an estate, no matter how large or small, complex or simple. For more information about how we can help you, visit our website at www.JohnLaneLaw.com.

Reference: MarketWatch (February 22, 2017) “Read this before becoming your parents’ caregiver”

The Effects of the Need for Elder Care on Women in the Workforce - John M. Lane Law, PLLC

“Women’s long-term participation in the workforce faces a threat from the growing need for elder care.”

A new study reported by The University of Buffalo Now, “Elder caregiving a growing burden to women in mid-career,” finds that as longevity increases, the need for elder care is increasing. Most of that burden falls to women, many of whom are forced to cut back on work or quit to take care of an elderly loved one.

The study found that women caregivers were about 8% less likely to work. After providing care, they were 4% less likely to be working. The study was presented at the Women Working Longer Conference hosted by the National Bureau of Economic Research. The research also found that with caregiving increasing, more current generations of women are more likely to provide care than women previously, since millions of individuals are providing care for their parents or their in-laws.

Data was gleaned from the University of Michigan, which has been monitoring participants for more than two decades. The data used in the study of nearly 9,500 people showed that about 33% of the women had provided care for an elderly parent, parent-in-law, or a spouse. That care can entail assisting a loved one with activities of daily living such as eating, bathing, or dressing. The caregiving for parents, peaks at about 56, and caregiving for a spouse isn’t widespread until the late 60s. In addition, with an aging population, the demand for care is apt to rise. Estimates are that 69% of the elderly will require help with daily activities, and 20% of those people will need assistance for five years or more, with the majority of the help coming from wives and daughters.

With baby boomers retiring, these needs will intersect with the need to retain a productive workforce. The caregiving challenge is growing at a time when more women are in the workforce and are working longer.  However, the National Association of Insurance Commissioners reported recently that 10% of caregivers dropped their hours at their jobs due to the demands of caregiving, and about 6% left paid work entirely. In addition, 17% of caregivers take a leave of absence, and 4% decline to take a promotion.

The economic value of the care given by family members is staggering: a 2011 study for the AARP Public Policy Institute estimated the value of informal care in 2009 was more than $450 billion, more than twice the estimated value of formal care.  This may be at the center of the rise in women taking on caregiving responsibilities.

Contact John M. Lane Law, PLLC to discover the Simplified Solution to your estate planning needs. Everyone has an estate, no matter how large or small, complex or simple.  For more information about how we can help you, visit our website at www.JohnLaneLaw.com.

Reference: The University of Buffalo Now (November 29, 2016) “Elder caregiving a growing burden to women in mid-career”

No One is Exempt from Planning for Incapacity - John M. Lane Law, PLLC

“Most people can’t or don’t want to think about the day they might be incapable of making even basic decisions.”

Incapacity planning is about designating how you want to be cared for in the event that you lose your cognitive ability. It’s hard to face, but it’s absolutely necessary, says Barron’s in “Three End-of-Life Estate Plan Lessons.” Most people don’t give much thought to the issue until it is too late to do it correctly. That means added expense and leaving money on the table for Uncle Sam to collect in unnecessary taxes.

Let’s look at some important lessons about incapacity planning:

1. Inform your surrogates and agents about your wishes immediately. You should also explain your thought process to them so they have complete information to carry out your wishes if necessary. What often happens is that Dad has a fall or an illness that puts him in rehab. The family reacts by shifting into crisis mode, and they make important decisions relying on the information readily available instead of the complete picture.
2. Select some strong surrogates. These are agents or advocates to whom you grant durable power of attorney. They will have control of your welfare. This includes handling your finances and paying your bills. Therefore, in addition to having great trust in your surrogates, you have to be sure that they’re able to manage your finances. Discuss the day-to-day administrative and financial tasks that they may need to monitor for you. Some people will divide the responsibilities into two jobs: a healthcare surrogate who will decide your medical decisions and a financial power of attorney to maintain focus on your financial affairs.
3. Don’t give a child who’s emotional and fragile the responsibility of cutting off your life. Many people select a child as their medical surrogate, but he or she may not be the one best-suited emotionally to make tough medical decisions. That involves decisions about withdrawing life-prolonging procedures or the intake of food, if the situation arises. That can be a huge emotional challenge.

Contact John M. Lane Law, PLLC to discover the Simplified Solution to your estate planning needs. Everyone has an estate, no matter how large or small, complex or simple.  For more information about how we can help you, visit our website at www.JohnLaneLaw.com.

Reference: Barron’s (November 8, 2016) “Three End-of-Life Estate Plan Lessons”

NFLers Huddle Up: Make a Game Plan for Possible Dementia - John M. Lane Law, PLLC

“This one’s for you, Peyton Manning, and you, DeAngelo Williams, and you, Jadeveon Clowney, and all NFL players and alumni: Do yourselves a favor and pay attention to the Sam Huff case.”

A recent Washington Post article, entitled “Today’s NFL players should look hard at Sam Huff’s case; they could be next,” says you should prepare for a time when you might become incapacitated as a result of your career. Fail to make proper plans and a judge could end up determining where you live.

The NFL estimates that a player has about a 30% chance of contracting Alzheimer’s or dementia. Players receive literature from the NFL Players Association about concussions and advice from agents and lawyers about estate-planning, but they rarely see the real picture of how people will treat you with a stigmatizing brain disease.

You need to make a game plan, or a judge will decide if you’ve been abused, neglected or exploited. Enter Sam Huff, who’s a Hall of Fame linebacker who was very successful after football. He was a VP at Marriott and enjoyed thoroughbred horse breeding. He lived on his horse farm in Middleburg, Va., for 30 years with his partner, Carol Holden, until 2012 when dementia was diagnosed.

Huff’s daughter, Catherine, is seeking legal power to make all of Huff’s life and health-care decisions for him. Carol filed an emergency petition seeking to return him to his home and to her guardianship. There’s a court hearing scheduled.

Can you believe that of the 1,600 players in the NFL each season, more than 500 will be diagnosed with some form of dementia? Here's a suggested blueprint for how to protect yourself, which may be just as important as wearing a helmet in action.

Here is some advice from the article whether you played on Sunday or caught the games on television:

Find a lawyer with experience in estate planning for Alzheimer’s and heed his or her advice. You need a specialist because Alzheimer’s planning requires a very thorough interdisciplinary legal knowledge, as well as insight into medical and criminal scenarios. An attorney experienced with dementia issues can educate you on why you shouldn’t give your child or spouse durable power of attorney without some type of neutral oversight.

Don’t create family problems. Appoint an independent third party “protector.” This can be a valued friend who has sound judgment and can monitor the conduct of the trustee over your trust and the attorney in fact under your financial power of attorney. This is a pretty new idea, but it helps to address potential financial abuse. A protector can make sure that any actions are in your best interests.

Declare legally that if there’s any change to your estate plan after your diagnosis, there needs to be a medical evaluation to ensure it’s your decision. Changes can be manipulations, especially if your power-of-attorney is also a beneficiary.

Legally provide that a geriatric care social worker be employed to facilitate your care. All of the agencies, facilities, and services create confusion and frustration for family members trying to help. But a geriatric care expert has the knowledge, social service resources, and experience to take care of living arrangements and quality care, which can ease the strain on the family.

Determine your wishes and provide for them. If you really want to live at home, look into how to do so with dementia and set aside the money. You might decide you want to live in a facility. Be sure you state in your estate plan that the location has a good nurse-to-patient ratio and specifically trained Alzheimer’s care.

While Huff’s situation shows there’s no such thing as a foolproof solution, you can start by working with a credible dementia-knowledgeable attorney.

Contact John M. Lane Law, PLLC to discover the Simplified Solution to your estate planning needs. Everyone has an estate, no matter how large or small, complex or simple.  For more information about how we can help you, visit our website at www.JohnLaneLaw.com.

Reference: Washington Post (Sept. 15, 2016) “Today’s NFL players should look hard at Sam Huff’s case; they could be next”

Like Gene Wilder, Many Opt to Keep Alzheimer's Disease a Secret - John M. Lane Law, PLLC

“Because cognitive impairment is likely for most people as they age, advisers shouldn't wait for signs to start planning.”

Comedic actor Gene Wilder, who died last week at age 83 from complications of Alzheimer's disease, didn’t tell anyone about his illness for at least three years. That's common, reports Investment News in “Hiding Alzheimer's, like Gene Wilder did, is natural, so prepare for it with all clients.”

The star of Willy Wonka and the Chocolate Factory and many other successful comedies is said to have wanted his fans to keep laughing over his life's work instead of being sad about his failing health.

Most Alzheimer's patients will hide their symptoms as long as they can because they'll lose control of their lives if their family or friends are under the impression they can’t take care of things on their own.

The first thing to recognize is that cognitive impairment is a significant risk. Financial advisers and elder law attorneys should take steps to protect these clients' finances from the impact of debilitating conditions like Alzheimer's. This is best accomplished before they notice any changes in the individual’s behavior. With dementia and Alzheimer's so common in the elderly, criminals frequently target older individuals because they can more easily be swayed into releasing money or disclosing personal information.

The first thing elder law attorneys will do is have their clients execute a legal document that lists the family members or friends whom the attorney can contact to discuss private information if he or she believes the client is starting to have cognitive problems. Clients may need some time to consider this difficult issue. However, if they refuse to provide this information, financial planners will often require them to sign a different document that releases the adviser from liability if the client is harmed because of his or her cognitive decline.

Get the complete legal picture from an experienced elder law attorney.

Advisers may also have a checklist to complete each year about their clients to monitor changes and document them over time. When they see “red flags,” like a client with memory loss or difficulty understanding the consequences of decisions, advisers may ask that a trusted contact start attending planning meetings.

Hearing a professional tell you he or she thinks you might have dementia is never welcome news, but this may be the opportunity to get medical assistance and to plan ahead for potential issues in the future.   Contact John M. Lane Law, PLLC to discover the Simplified Solution to your estate planning needs. Everyone has an estate, no matter how large or small, complex or simple.  For more information about how we can help you, visit our website at www.JohnLaneLaw.com.

Reference: Investment News (September 1, 2016) “Hiding Alzheimer's, like Gene Wilder did, is natural, so prepare for it with all clients”

Before You Panic and Sell the Family Home, Talk with an Elder Law Attorney - John M. Lane Law, PLLC

“Studies show that 55 percent of Americans die without a will or an estate plan, according to the American Bar Association.”

Let’s look at a difficult but very common scenario where a husband or wife has an immediate need for nursing home care. Unfortunately, the couple is financially unprepared and clueless regarding their options on long-term care. Many times a couple in this situation will think they have no choice but to sell their home to pay for that care. But before they do this, they should consult with an elder law attorney.

The Boston Globe, in its recent article, “Seniors have more options than selling their home,” says that an experienced elder law attorney can be the key to protecting your family’s health and financial well-being. This includes such assets as the family home.

An elder law attorney can show the senior couple that they have options—in most cases, they don’t have to sell their home to pay for emergency long-term care.

A couple’s money is often tied up in their house, so to fund the long-term care, they go ahead and sell it. When they sell it to qualify for Medicaid, which will cover the cost of long-term care, they exhaust the proceeds of the sale—in addition to the rest of their money. This leaves the healthy spouse—who can still live independently—with little in the way of financial security. This outlook can potentially compromise that individual’s health as well.

Before taking any action, talk with an elder law attorney and explore the options that would best meet the family’s needs. It’s critical to plan ahead. An elder law attorney will help you plan for the future to ensure your wishes on housing and health care can be satisfied.

For example, think of a couple in their late 80s with the husband needing nursing home care right away. They own a home and have about $210,000 in the bank. An elder law attorney can help the wife stay in the family home and preserve most of the remaining assets to keep her comfortable, while helping the husband receive Medicaid benefits. An experienced elder law attorney can offer assistance at any stage of a person’s life.

Don’t panic and sell your family home—speak with an elder attorney first to save it.  Contact John M. Lane Law, PLLC to discover the Simplified Solution to your estate planning needs. Everyone has an estate, no matter how large or small, complex or simple.  For more information about how we can help you, visit our website at www.JohnLaneLaw.com.

Reference: Boston Globe (August 19, 2016) “Seniors have more options than selling their home”

Is Your Loved One Elder-Proofed?

Huffington Post reports in "Writing an Eldercare Plan," that elder law attorneys view being elder-proofed as having legal documents such as living wills, do not resuscitate orders (DNR), durable powers of attorney for healthcare and finances, and a will.

But there's an area of planning that isn't given much attention. That is the day-to-day decision-making to ensure the desires of the senior are followed once they are unable to make those decisions known. It's important to write an eldercare plan to document his or her expressed wishes formally, so that they can have a say in how they will be cared for as they get older.

It's very important for seniors and their loved ones to discuss a care plan for the future before disease or dementia come into play, or a crisis causes eldercare services to become urgently needed. Get the plan drafted while the senior is still fully cognizant and rational. They can be signed when other end-of-life documents are put in place.

In truth, everyone wins with early discussions. When the patient is involved in the decisions for his or her potential care, the family has a better understanding of their preferences and are more prepared for any tough questions.

A good eldercare plan designates the roles and responsibilities for the care of the senior to specific individuals in writing. In addition, healthcare preferences and treatments can be detailed.

If your loved one has been diagnosed with Alzheimer's or Parkinson's disease, families should begin their elder and estate planning soon after the diagnosis, so that the patient can be an active participant. As part of your end-of-life documents make sure your elder law attorney drafts a health care proxy so that your loved one can designate a trust person to make decisions if he or she become incapacitated.

Start the eldercare plan process with a meeting with all of the family and important loved ones, friends, and even good neighbors. In addition, speak with an experienced elder law attorney so that nothing is left to chance.

Contact John M. Lane Law, PLLC to discover the Simplified Solution to your estate planning needs. For more information about how we can help you, visit our website at www.JohnLaneLaw.com.

Reference: Huffington Post (March 30, 2016) "Writing an Eldercare Plan"

Communication Key in Caring for Parents

“What we've got here is a failure to communicate.”

Good news for older parents: your children will help support and care for you as you age. That’s according to a new study from Fidelity Investments. However, the bad news is that most families don’t agree on exactly what that help should be and the types of responsibilities children should assume.

Fidelity’s most recent Family & Finance report surveyed two members of each family—one parent and one adult child—on things such as retirement income, eldercare and estate planning. The results found that about 40% disagree on the roles children should play as parents age.

Money’s recent article, “Here’s What Your Aging Parents Say They Want You to Do for Them,” says that these kinds of mismatches can create major emotional and financial problems down the road. Families should not wait until a health crisis or other unexpected event demands a caregiving or financial planning conversation; it is far better to have these conversations in advance of any triggering events. One clear finding on financial support for parents was that while over 90% of parents who responded said they wouldn’t like to become financially dependent on their children, only 30% of children shared that view, and about 25% are already planning to support their parents financially.

There were other expectation differences with financial assistance tasks. About 70% of parents expect that at least one of their children will help manage investments and retirement finances, and about the same percentage thought the kids would pitch in on household expenses, budgeting, and bills. However, 36% of children didn’t know they were expected to handle investments, and 44% were unaware their parents wanted help with household budgets.

The big reason children are clueless when it comes to what their parents expect is the simple fact that their parents have never told them. That’s a problem. There are many reasons why parents might choose to give responsibilities to one child over another, like location or having a particular skill set that makes them better qualified to handle certain roles. However, if that person doesn’t know the plan, they won’t be prepared, which could be problematic. It could mean a lack of access to paperwork, delays, confusion and extra expense—not to mention poor care.

When asked about family conversations, most respondents said they’d never had detailed conversations about topics like long-term care, living expenses in retirement, estate planning and the location of important documents. The survey found that the majority of both parents and children felt that discussions about financial planning don’t need to happen until the parents have retired and either health or finances are an issue. But this might be too late. To eliminate any confusion and to clarify expectations for all family members, conversations should happen well before parents intend to retire or health issues arise.

A qualified elder law attorney can help facilitate family understandings on these important matters.  Contact John M. Lane Law, PLLC to discover the Simplified Solution to your estate planning needs. Everyone has an estate, no matter how large or small, complex or simple.  For more information about how we can help you, visit our website at www.JohnLaneLaw.com.

Reference: Money (June 28, 2016) “Here’s What Your Aging Parents Say They Want You to Do for Them”

Rhinestone Cowboy's Wife Cautions to Plan for Alzheimer's

"Kim Campbell didn't initially see that her husband, music legend Glen Campbell, had Alzheimer's."

Kim first saw the signs, but chalked it up to the normal aging process. However, once she suspected that her husband had a serious problem—more than just senior moments—she needed to get a diagnosis. Glen Campbell, now 79, was diagnosed with Alzheimer's in 2011. He performed the final show of his farewell tour in late 2012.

"Getting the diagnosis helped me a lot," Kim Campbell said in a recent telephone interview with the Lexington Herald-Leader, in "Wife of Glen Campbell takes on role of Alzheimer's advocate, speaker." She was candid with the reporter, admitting, "Before the diagnosis, I would get frustrated with him, and irritated and annoyed."

Alzheimer's impacts about half of all people over the age of 85 and kills nearly 100,000 Americans each year. It's named for the German doctor Alois Alzheimer, who discovered the distinctive tangles and plaques of the disease in the brain of a female dementia patient in 1906.

Kim Campbell said the disease needs to be approached from a perspective of examining what the patient still can do versus what he or she can't. What can caregivers do to give them comfort and joy?

Glen Campbell now resides in a memory care unit. Kim Campbell said she tried one last time to have her husband at home — "I missed him so much, and I thought, I've just got to try it one more time. (But) I couldn't bathe him without a fight, or change his clothes. Glen's a big man, and he was not easy."

Kim Campbell said she speaks out about Alzheimer's disease to help families because Alzheimer's "is definitely the most feared disease. You lose control of your life. There are identity issues and autonomy issues."

Campbell also suggests that caregivers give themselves breaks and take care of themselves because the stress for caregivers is enormous.

She also emphasized that estate planning is very important and noted the need for advance health care directives.

Contact John M. Lane Law, PLLC to discover the Simplified Solution to your estate planning needs. Everyone has an estate, no matter how large or small, complex or simple.  For more information about how we can help you, visit our website at www.JohnLaneLaw.com.

Reference: Lexington (KY) Herald Leader (February 24, 2016) "Wife of Glen Campbell takes on role of Alzheimer's advocate, speaker"

Talk to Your Senior Parents About Four Major Planning Topics

"Many people avoid dealing with the subject of senior caregiving until a crisis arises."

According to The Ventura County Star in "Talk to aging parents about finances, health care, living arrangements," there are four main areas about which senior parents and their adult children must communicate. These areas are living arrangements, medical coverage, estate planning and finances.

Understand your parents' ideas about their future living arrangements when and if they become unable to care for themselves. If they want to stay in their own home, familiarize yourself with the available community resources for support and research alternative living arrangements in the event that remaining at home is no longer a viable option.

Analyze the type of medical coverage your parents have and its coverage. Get the name and telephone number of their primary care physician and any specialist they are seeing. Have a sense of their medical history and condition.

Estate planning includes legal, financial, and end-of-life issues. See if your parents have an advance health care directive, a will and/or trust, and a general power of attorney for finances. Find out who has copies of these documents or where they're kept. Also, get the contact information for their estate planning attorney.

Talk to your parents about their financial resources, both income and assets—this is critical if you need to place them in a long-term care facility or apply for government programs. Also, find out if they have long-term care insurance and what it covers.

Last, the hardest conversation may be about their final needs. See if your parents have made funeral arrangements and have prepaid them. If they don't have these plans, encourage them to tell you what they want.

Go over all of these issues with your parents while they can participate and make their wishes known. Involve your siblings if you have them and make them part of that discussion.  

Contact John M. Lane Law, PLLC to discover the Simplified Solution to your estate planning needs. Everyone has an estate, no matter how large or small, complex or simple.  For more information about how we can help you, visit our website at www.JohnLaneLaw.com.

Reference: Ventura County Star (February 9, 2016) "Talk to aging parents about finances, health care, living arrangements"