by Bill Miller | Mar 2, 2020 | Blog
Even though February and Valentine’s Day is over, the threat against Alabama seniors continues to be on the rise. In fact, did you know that scammers and cyber criminals often target senior citizens when perpetrating financial crimes? Online senior scams have become so prevalent that they are considered “the crime of the 21st century.”
Why? There are several different factors. Older Americans are believed to be more vulnerable, are known to often have large amounts of money in accessible accounts, and the internet makes it easy for bad actors to find them, and fool them. To make matters worse, scammers tend to target seniors when they are most vulnerable. Valentine’s Day demonstrated to us, again, just how aging adults suffering from loneliness and social isolation are at elevated risk.
How can you protect yourself as a senior? Or a senior that you love? Let us share nine tips you may use to avoid a “lonely heart” senior scam.
1. Online cyber criminals looking to execute romance scams are likely looking for older victims on social media, online dating or friendship websites. Be cautious of anyone you do not know who contacts you online. What you see may not be who you are really dealing with.
2. Here is a golden rule: Seniors should always be suspicious whenever someone online attempts to gain their trust and affection if they have not met in-person.
3. Older Americans, or anyone for that matter, should never provide their personal information or send money to someone who tries to convince them to do so on social media, email or any other online forum if they do not already know them in their off-line lives.
4. Be extremely cautious if someone you meet on social media, like Facebook, wants to quickly move to a private form of communication such as text or email.
5. Never send intimate photos or videos of yourself. A scammer may use them to try to blackmail or embarrass you.
6. If you do plan to meet someone you met online, which is generally not a good idea, then make sure to tell your family, friends, and caregiver. Bring someone with you and meet the person in a public place.
7. Scammers often work on several victims at once. If they address you by the wrong name, it may be a telling sign that something is wrong.
8. If you think you are in contact with a potential scammer, tell family, friends, caregivers and neighbors immediately about your experience. Do not let embarrassment get in the way of protecting yourself.
9. If you believe you have fallen victim to a Valentine’s Day romance scam, it is never too late to call the police and your appropriate financial institution. Let them know what happened so they may get involved and protect you.
We know this blog may raise more questions than it answers. We want you not to wait to learn more about this critical issue facing all of us, but most importantly Alabama seniors. Remember, being prepared is the best defense you can have in place. We encourage you to schedule a meeting with an estate planning and elder law planning attorney so you may create the tools that can protect you now, and in the years to come.
by Bill Miller | Feb 29, 2020 | Blog, Long-Term Care, Nursing Home
Frank and Delia were getting older, as most people do. Their life together had included raising three children and providing support for their parents before they passed away. Because of how much care their parents needed at the end of their lives, Frank and Delia were concerned about their own future medical care. They decided to be proactive and start to plan for long-term care situations now.
Long-Term Care Options
People faced with a need for increased levels of care have several options:
- In-home. Aides may come in with meal preparation, cleaning, medication management, and personal hygiene.
- Assisted Living Facilities. The residents live in separate apartments, but limited nursing care is provided.
- Nursing Homes. Skilled nursing facilities typically offer 24/7 care for patients that need it.
As you start your plan for long-term care, consider the following:
Research Current Availability and Cost
It may be years before you need long-term care. However, you can start looking at what might be available.
The least expensive option is usually at-home care. In the Anniston area, the average monthly cost was $2,955 for homemaker services in 2018. Perhaps you have family members who can help you stay home as long as possible and reduce the cost of care.
In Anniston, the average monthly cost for assisted living facilities in 2018 was $3,566. If you don’t need memory care or 24/7 nursing, this might work. Check with family members, friends, and friends-of-friends who live in and can recommend assisted living accommodations.
As you might expect, the highest cost will be for nursing home care. Average 2018 cost in Anniston was $6,175 for a semi-private room and $6,449 for a private room. See what nursing homes are nearby. In addition to word of mouth, you can check the Alabama Department of Public Health website for lists of nursing homes with violations.
Once you have some ideas of available care, you can plan how to pay for it.
Methods of Payment
Generally, you will find there are three ways to pay:
- Self-Pay. Your life savings may be used to pay for expensive long-term care.
- Long-Term Care Insurance. Although this type of insurance can defray the high cost of long-term care, the premiums may be too high. It’s also important to buy the policy well before you need it.
- Medicaid and Other Government Benefits. You may be able to tap into Medicaid to pay for part or all of your long-term care . . . if you qualify. Eligibility rules are strict. If there’s a possibility you will need Medicaid, consult with an attorney now.
Talk to an Experienced Attorney about How to Plan for Long-Term Care
There’s a good possibility that you or one of your loved ones will need some form of long-term care. Doesn’t it make sense to plan for it now?
For a free consultation with Bill Miller, an experienced Alabama attorney, contact us at 256-472-1900. Miller Estate and Elder Law is now located at 818 Leighton Avenue in Anniston, but we serve clients in Gadsden, Hoover, Talladega, Vestavia Hills, and surrounding areas.
Also, free copies of the following guides are available on our website: Medicaid Planning in Alabama: What You Need to Know and Don’t Go Broke Paying for Long-Term Care.
by Bill Miller | Feb 17, 2020 | Aging Parents, Blog, Caregivers, Long-Term Care
Whoever said, “Life at you fast” wasn’t joking. Our lives can be changed in the blink of an eye by an accident or other unpleasant surprise. However odd it may seem, it is possible to prepare for an unexpected emergency. In some cases, that means have a good estate plan in place before the emergency.
Sometimes a loved one may need sudden medical attention.
A complete estate plan typically includes an advance directive for health care. This document may include a durable power of attorney and a living Will. If you suddenly become ill and unable to communicate with your doctors, your advance directive will be a big help to your family and your healthcare providers. Your power of attorney has named an agent to communicate for you. A living will states your preferences for end-of-life treatment.
Emergencies can involve incapacity or disability.
If you are disabled due to a medical emergency, your advance directive helps with medical decisions. However, financial matters must be attended to also. This is where your general durable power of attorney makes a difference. The agent you named in your durable power of attorney can step in and take over your financial affairs if you are no longer able to do so.
You may also have set up a revocable living trust, naming yourself as trustee. In the event of your incapacity, the successor trustee can take over management of the trust.
In addition, you may have engaged in other incapacity planning that may help you qualify for government benefits like Medicaid.
One worst case scenario may include moving a beloved family member to a nursing facility.
Speaking of Medicaid, you or a loved one may need Medicaid to pay for long-term care costs. It’s important to start your Medicaid planning early because Medicaid will review your finances for the five years prior to applying for benefits. Some transactions made during that time frame could reduce or eliminate your eligibility.
Certain trusts can help you with long-term care planning. However, you will need to speak with an attorney to make sure your trust is established correctly.
An unexpected emergency may even lead to death.
Finally, death is often unexpected. Your valid Alabama Will or revocable living trust affect how your property will be passed to your heirs. Leaving these documents behind for your family helps them at a truly stressful time.
Estate planning can help when an unexpected emergency arises
Your estate plan can’t help, though, if it is out of date or you haven’t even prepared it yet. Schedule a consultation with one of the attorneys at Miller Estate and Elder Law. Our phone number is 256-472-1900. Miller Estate and Elder Law is now located at 818 Leighton Avenue in Anniston, but we serve clients in communities like Hoover, Vestavia Hills, Irondale, and Calera.
Check out our website for information about free workshops and guides.
by Bill Miller | Feb 2, 2020 | Blog, Estate Planning
An estate plan protects your family. It is not just for rich people. Everyone should have an estate plan in place to protect themselves, their businesses, their spouses, as well as their minor children or disabled children. Your estate plan needs to be in place as soon as possible to ensure your estate assets can go to the people you want them to go to in the event of your death.
While none of us want to consider a time when we will no longer be here to provide for our loved ones, we need to think about this as soon as possible. Estate planning can take many actions that protect your loved ones, and you. For example, through trust based estate planning, you can prevent irresponsible children from spending everything they inherit as soon as they get it. Another example allows you to potentially prevent family infighting after your passing by creating an estate plan that has your assets managed by an experienced guardian or trustee. Further, you can create an estate plan that will provide for and protect your minor children until they reach an age of your choosing.
The ultimate is for you to be able to create legal planning that can allow you to protect and care for loved ones long after you are gone. It often helps our clients to understand what happens in estate planning when they pass away. Let us give you more information right here. In almost all situations, after you die, a trustee or personal representative collects your remaining assets, pays your final bills and taxes, and retains the remaining assets for distribution according to the instructions contained in your last will and testament or trust agreement.
While last will and testaments are effective at handling relatively simple situations, trusts are much more flexible. For instance, trusts can be used if there is a minor child or disabled person left behind. The trust can name a trustee who has the authority to manage your assets and spend money on things necessary for the beneficiary’s absolute needs. The terms of the trust can state that the trust assets cannot otherwise be spent. It can also determine the age and circumstances for distribution, and guidelines for management of assets held within it.
Unfortunately, many people mistakenly believe that assets held in revocable trust agreements, which are created for estate planning purposes, will not be available for long-term care. This is almost never true. If a beneficiary is allowed to access trust assets, then the trust assets can be used to pay for the beneficiary’s long-term care. If you are concerned about a future that includes a need for long-term care, which we should all contemplate, then we need consider other planning alternatives.
One of the only ways to protect the trust assets from being used for long-term care is through an irrevocable trust agreement. This type of trust does not allow the beneficiary to access the trust assets. He or she only receives the type of distributions outlined in the trust document. An example of a type of such a protected irrevocable trust would be a special needs trust. Such a trust can insure that the government benefits for the disabled will also be available. Be careful, however, because if assets are transferred to an irrevocable trust, there is a five-year waiting period before the trust assets will be considered protected from long-term care expenses.
We know this article may raise more questions than it answers. For example you may ask yourself, how do you effectively plan for yourself and your loved ones when it comes to both estate planning and elder law concerns? We encourage you not to wait to get your questions answered by attorney Bill Miller in a consultation in our practice.
by Bill Miller | Jan 30, 2020 | Asset Protection, Blog, Estate Planning, trust
Revocable living trusts are very common today. They are known as a flexible way to manage your assets and a way to avoid probate. However, there are other little known facts about revocable trusts that you may need to know. As you develop your estate plan, consider adding a revocable trust.
Revocable Trusts Can Be Funded with Almost Any Asset
Once a trust document is signed, the grantor needs to transfer property to the trust. This is called funding the trust. Many people assume cash or real estate are the only assets that can be used to fund a trust.
However, the ownership of just about any asset can be transferred to a revocable trust. Along with cash and real estate, the grantor can transfer jewelry, art collections, boats, cars, business interests, and investments. Talk to your attorney before transferring assets. Some property can be passed to your heirs through other means, like beneficiary designations and joint property ownership.
Only Very Wealthy People Benefit from Revocable Trusts
This statement may be one of the primary reasons people don’t talk to an attorney about revocable trusts. Actually, revocable trusts are useful to people of modest means. Some of the more common reasons to form a revocable trust include:
- Incapacity Planning – If you become incapacitated while serving as trustee, your successor trustee can take over immediately. There’s usually no need for a conservatorship.
- Protecting Your Children – Maybe your children are minors and cannot inherit directly or perhaps one of the kids cannot be trusted with a lump sum inheritance. A revocable trust can dole out the inheritance in smaller payments. In addition, you can give the trustee the ability to pay an adult child’s bills instead of handing over cash.
A Revocable Trust Usually Remains Private
When you file a Will, it becomes a public record that anyone can view. The same is true for most documents filed in a probate case.
However, a revocable trust typically does not have to be filed with the Court. As such, the contents of your trust should be kept confidential. One exception that could cause your trust to go public is if someone files a lawsuit involving your trust. Even then, it might be possible to shield some or all of the details from public scrutiny.
Find Out More About Revocable Trusts
Often, people think they will not get any benefit from a trust. However, many of those same people would be amazed to learn how revocable trusts help people every day.
The attorneys at Miller Estate and Elder Law help their clients make informed, thoughtful decisions. Contact Bill Miller at 256-251-2137 to schedule an appointment. Though our office is now located at 818 Leighton Avenue in Anniston, we serve clients in Gadsden, Hoover, Talladega, Vestavia Hills, and surrounding areas.
Also, check out the free legal resources on our website!
by Bill Miller | Jan 23, 2020 | Blog, Elder Care Planning, Medicaid, Medicaid Qualification, Nursing Home
Hearing a doctor say that your loved one needs skilled nursing care, 24/7, can be a real shock. Chances are, you have not given much thought to planning for long-term care. If you have just learned that your dad or mom needs 24/7 care – or think this may happen in the future – continue reading to learn more about what you can do to help.
The Realities of 24/7 Care
If your mom needs 24/7 care, you are not alone. In fact, the following statistics tell an interesting story about long-term care:
- 52% of people age 65 right now will need long-term care at some point.
- 47% of men and 58% of women age 65 or older face long-term care.
Some people will need skilled nursing care for years. The cost of 24/7 care can be staggering. In Alabama, the monthly costs for long-term care in 2018 were:
- $3,241 for homemaker services or a home health aide
- $3,271 for an assisted living facility
- $6,279 for a semi-private room in a nursing facility
- $6,661 for a private room in a nursing facility
What can you do to help someone who needs 24/7 care?
Applying for Medicaid
Once you find a good nursing home, you need to figure out how to pay for it. This can be tricky. There are basically three ways to pay for long-term care: self-pay, long-term care insurance, and Medicaid.
You may need the Medicaid money now but don’t know how to get it or even if you will be eligible.
Medicaid offers a number of programs to provide medical care for people with limited assets and resources. To qualify, the application will need to meet certain asset and resource tests. For example, someone who needs 24/7 care must not earn more than $2,250 per month or have more than $2,000 in resources.
Applying for Medicaid can be frustrating and time consuming, in part because of the amount of supporting documentation. In addition, Medicaid case workers will review the applicant’s finances for a 60-month period prior to the application date. Certain transactions made during that time may disqualify the applicant from or delay benefits.
Medicaid Is Complicated. We Can Help.
It’s possible – and highly recommended – to plan ahead for incapacity and long-term care. Estate
planning can help, especially if Medicaid planning is included.
For a free consultation with an experienced Alabama estate planning attorney, contact Bill Miller
at 256-472-1900. Miller Estate and Elder Law is now located at 818 Leighton Avenue in
Anniston, but we serve clients in Gadsden, Hoover, Talladega, Vestavia Hills, and surrounding
areas.
