Jennifer Meagher RN is the owner of Senior Life LLC, Advocates and Consultants. Meagher founded and oversees the Better Business Partners Serving Seniors. She is on the Alzheimer’s Advocacy Committee and has specialized in geriatrics since 1998. She is called on by doctors, attorneys, and financial advisors to care for their clients and their families. Contact Jennifer at www.SeniorLifeGCM.com.
I read your remarks last week with a great deal of interest. I worked with an attorney to protect my assets and I'm now concerned about the difficulties you mentioned regarding the application process to nursing homes. I am concerned that my attorney may not have advised me properly. Will you please speak to this.
I certainly cannot speak to the advice you received from your attorney. That said, I recommend that individuals who are considering asset protection speak with a geriatric care manager about future planning and associated costs before protecting assets. In this scenario your geriatric care manager can speak directly with the attorney if agreed, to ensure that the asset protection plan allows enough private pay funds to cover the changeable elder care environment in our area.
Again, it is my opinion that nursing homes should be paid. It can be complicated for couples whose care needs are at two different levels. I will dedicate today's article to this topic.
WHEN COUPLES ARE AT TWO DIFFERENT LEVELS OF CARE
First, while it is very loving to want to provide for your adult children, it can be foolish to short change yourself. Many parents put their house in the adult child’s name prior to the five year look back for Medicaid. As described in last week’s article, lack of funds impedes the available options. Often, the money from the sale of the house is needed to cover nursing home expenses. If older family members hold onto their money to pay their own way, that in itself is a gift to the children. It is my opinion that families are currently required to provide more direct care to their parents than we have experienced in many years. Without finances to pay for services, family will be asked to fill the need. I predict the in-law apartment and “cellar dwellers” will be required.
I subscribe to the principal that financial planning should first plan for the lifetime financial needs of the individual. Currently home services are not able to meet the demand; private pay individuals are attempting to fill some of the need. Options are changing – quickly. Of course we will care for those without money, but if you do have finances, I encourage you to hold onto them. Geriatric care managers can keep you informed of the changes on our horizon and what that means to your financial portfolio.
By John Sproul
In the play and movie "Twelve Angry Men", what were the twelve angry men doing?
A. Playing on a rugby team
B. Choosing what political candidate to run in an election
C. Discussing whether or not their unit should desert in the US Civil War
D. Serving as jurors in a trial
The correct answer is D.
In the movie version Henry Fonda was especially good as the initial holdout to vote "not guilty", while the other 11 jurors initially vote "guilty". During the course of the movie, Fonda's character gradually convinces the 11 to change their votes to "not guilty". The vast majority of this play and movie take place in one setting, the jury room. In the movie version, the total time spent outside the jury room is three minutes out of the full 96 minutes of the film.