Elder Law Today Podcast

In the third installment of his podcast, Elder Law Today, Yale Hauptman, a practicing New Jersey elder law attorney, answers listeners’ questions by phone and email. Yale corrects common misconceptions people have about some of the basic legal issues facing seniors today. For example, Yale explains that making gifts up to the annual gift tax exclusion amount will carry a Medicaid transfer penalty. Yale explains what probate is and why you don’t necessarily have to fear and avoid it. Learn why it is a good idea to have a will and not rely on a state’s intestacy laws to distribute your assets. Is it a good idea for a parent to transfer his/her home to the children? Yale discusses the pros and cons to consider from a Medicaid, tax and long term care perspective. Yale answers a caller’s question on a little known Veterans Administration benefit that can provide much needed additional monthly income to be used for home care and assisted living care. These are just some of the topics covered in a very informative and enlightening evening. Click here to listen to the show. To subscribe to our podcasts click here Please send us your feedback

In the second installment of Elder Law Today Podcast, Yale Hauptman, a practicing New Jersey elder law attorney, explains the basics of the Medicaid nursing home program. Yale explains how this needs-based program works, including the asset and income tests for eligibility. Learn what countable and non-countable assets, Medicaid transfer penalty and lookback period are and why Medicare will not cover most nursing home stays. Yale also explains why long term care planning must be done well before entry to a nursing home becomes necessary. Congress passed significant changes to the Medicaid laws 2 years ago, known as the Deficit Reduction Act of 2005, changes that the average American is unaware of. Learn why even if you spend down your assets to the Medicaid levels you still may face a Medicaid transfer penalty. In the second segment, Yale interviews Barbra London of Freedom Eldercare, a licensed home health care agency. Listen to Barbra and Yale talk about the types of services a home health care agency provides and common misconceptions people have about this important resource. They also discuss why, under the new Medicaid laws, hiring an aide directly, rather than through an agency, can trap the unwary and cause a Medicaid ineligibility period. Click here to listen to the show To subscribe to our podcasts click here To contact Barbra London  201-883-1200 or toll free  866-7 Freedom Please send us your feedback

Every so often, I come across a situation that illustrates so clearly the dangers of going it alone or getting bad advice when dealing with the common issues and dilemmas that are aging in America.  I received a call this week from a son in Mississippi.  Mom and Dad, no longer able to live at home alone, moved in with Son.  They owned their home in New Jersey which they transferred to Son.  Dad's health deteriorated to the point where he needed nursing home care.  The couple then spent down their assets and applied for nursing home care for Dad.  Meanwhile Son placed the New Jersey home up for sale. Much to their surprise, the family was informed that the state Medicaid office denied Dad's application.  Why? Because the transfer of the home to Son caused a Medicaid ineligibility period.  Dad cannot receive Medicaid for 4 and 1/2 years.  In other words, Son must give the money back to Mom and Dad and they must spend it down before Dad will receive Medicaid. Son said that he was prepared to pay for Dad's care.  I advised him to seek the advice of an elder law attorney in his state familiar with the Medicaid laws there before he does that.  It may make more sense for Mom to take some of the money and buy a new home which would be exempt from Medicaid.  There are other strategies that may be beneficial as well and should be explored in greater detail. The lesson to be learned is to consult with a professional before making any decisions.  There is a maze of laws and services in this country that affect seniors.  It is easy to get tripped up by them and the cost to your family could be enormous.

In the debut of his podcast, Elder Law Today, Yale Hauptman, a practicing New Jersey elder law attorney, explains what elder law is and how an elder law attorney can be a valuable counselor to seniors and their families.  Learn how elder law differs from traditional estate planning.  A will, while important, addresses only one scenario, what happens when one dies.  Elder law, however, encompasses so much more, what can be termed life planning or long term care planning.  In other words, what happens if I don’t die, but instead have a lengthy illness, need increased care, (ie. home care, assisted living, or nursing home care) and do not have the funds to pay for it indefinitely.         Yale discusses the need to have a plan in place, one that includes the necessary documents (ie. power of attorney, health care directive, will, trust) but also brings the family together to work towards a common goal of assisting the senior family member to tackle head on the legal and social issues associated with aging and navigating through the maze of laws and available government benefits.        In the second segment, Yale interviews his first guest, Matthew Glass, a certified special needs advisor.  Matthew explains how he assists young families with special needs children.  Yale and Matthew then discuss how special needs planning will increase in frequency as parents age and are faced with their own long term care needs.  Because that care is expensive, without proper planning they may be forced to spend most or all of their assets on their own care, leaving nothing for their children with special needs.  A specifically tailored plan, usually involving a special needs trust, can avoid this drastic result and provide peace of mind to families. To listen to the show click here Here is how you can contact Matthew Glass 732-632-5854 or 800-333-7964 visit the The RHG Group Website Don't forget to subscribe to our podcast by clicking here. We welcome your questions, comments and suggestions send us an email