When mom or dad are in decline, physically or cognitively or both, families are faced with questions and choices on how best to care for them. Although circumstances vary from family to family, there are guidelines to help decision making. The goal is to be in the least restrictive living situation possible, but to be safe..
Probate is a word, like plague, that carries a bad connotation. Stories go around about cases taking years, or families fighting, or fees to the state. Here are some practical planning suggestions that may avoid probate, help ensure probate will not take a long time, might decrease family disputes, and reduce costs..
Benjamin Franklin had a quote “By failing to prepare, you are preparing to fail.” In life in general, preparation is a key to success, and no more so than when it involves the care to keep your elderly loved ones safe and in the best living situation possible. That preparation is all the more critical with the increased problems and restrictions brought on by our national health crisis..
When Your Estate Plan Needs Changing As you go through life you need to change your estate plan to account for the changes in your age, your wealth, your health, and your marital and family status. An unmarried young adult without a spouse or children or much money can get by with a power of attorney, living will and HIPAA form so that parents, or siblings or other trusted person can handle financial affairs and medical decisions if that young adult has an unlikely incapacitating illness. When that young person gets married and has children, a will and trust is advisable in case of the unlikely event of both spouses dying in an accident.
The second most difficult talk to have with parents, after the first which is giving up driving, is the talk about money. It is a difficult and often times embarrassing topic between a child and a parent who is losing the ability to handle finances and may be vulnerable to fraud. Here are some thoughts.
Many people know that Medicare will pay for rehabilitation services in a nursing home if the patient has had a three day inpatient admission to a hospital. A physician must order the care in a nursing home and it must be related to the condition that resulted in the hospital services. Practically speaking, the care must only be available on an inpatient basis. The person must need to receive seven days a week of nursing home care, or skilled therapy five days a week or some combination seven days a week. This is the normal rehabilitation families know about.