Are you a member of the Sandwich Generation?
Getting your family ready at the end of the summer to go back to school can challenge most parents’ patience and energy under even the best of circumstances. But when there is also caregiving duty for a parent who has dementia, or chores and errands to support a loved one who has become disabled by a chronic disease, the stress can be overwhelming.
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Sign up to attend one or all of the below listed seminars that we will offer at various times in September. Each seminar has a significant “what’s in it for me” factor for caregiving children, but since our services are ALWAYS geared towards serving the parent or older generation of the family, we encourage you to bring a parent who is able to attend so we can ask them these two questions:
- Do you hope to spend the last days of your life in a nursing home? Nobody does, but few plan to avoid it.
- Given a choice, do you want what is left of your life savings to go the government, a nursing home, or your children? If an aging parent wants to leave a legacy for their children and grandchildren, we can help them to make sure that the right documents are in place.
Seminar #1: Preemptive Planning Strategies, Essential Legal Documents, and Avoidable Pitfalls.
September 7th, 2017
Attorney Jessica Greene, CELA,* LL.M. in Elder Law will explain how helping to plan now can avoid financial stress and complications later:
- Why are too many power of attorney documents surprisingly useless when trying to preserve assets at a time of crisis?
- How should an agent be appointed if one child is better with a checkbook and another is better with medical issues?
- Why is a parent’s revocable living trust not as helpful as they might expect?
- What are the limitations of a pre-nuptial agreement with long-term care needs in second marriages?
- What is the purpose of a trust, the right time to create it, and the best asset to put in it?
- What is the risk of a parent funding a grandchild’s college education since the accountant said up to $14,000 to any person should be OK and not reportable to the government?
- Under what circumstances must a child pay for a parent’s care, and how can planning prevent that?
Seminar #2: Overview of Caring for Aging Parents.
September 14th, 2017
Karen E. Kaslow, RN, BSN, who is Keystone Elder Law’s care coordinator, will use visual charts and anecdotal stories to explain:
- How an older person’s need for caregiving help with activities of daily living increases
with age and frailty.
- How to identify a danger zone when a catastrophic incident could cause a need for long-
term or permanent nursing care.
- Various levels of care and options for receiving it.
- The cost of obtaining care and possible resources to provide for it.
- What Medicare does and does not pay for in relation to long-term care needs.
- The basics of long-term care insurance, and when to submit a claim if you are insured.
Seminar #3: Legal Risks and Opportunities for Living with Parents, and Paying for Nursing Homes
September 21st, 2017
Attorney Dave Nesbit will discuss legal options for intergenerational living arrangements done to preserve the home and family wealth, including:
- When and how to consider a life estate deed.
- Opportunities and pitfalls of intra-family property occupancy and conveyance including, room and board agreements, rent to own, promissory note issues, putting children’s names on house deeds, determining fair market value, use of caregiver agreements, and caregiver exception transfers.
- What are the filial responsibility risks for the non-participating sibling?
- What is the fiduciary risk if the child who is a co-occupant is also the agent under a POA?
- What strategies remain to preserve the home and family wealth if the parent is in the
Seminar #4: Will You Be Tasked With Managing Your Parent’s Estate?
September 28th, 2017
Attorney Ryan Webber will give an overview of how to avoid, manage and minimize the hassles and expenses of probate, inheritance taxes, and Executor responsibilities, including:
- Elements of a good Last Will and Testament.
- Advantages of a trust.
- How nursing-home spend-downs with Medicaid annuities avoid probate with remaining
- Understanding the difference between estate tax and inheritance taxes.
- Duties and pitfalls of an Executor.