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March 2017

Guardianship vs. POA: Exploitation

By Elder Law, Estate Planning, Guardianship

While appointing a power of attorney can mitigate the need for a guardianship, there are other times in which a guardianship is necessary.

In the last blog post, we discussed the need for a guardianship in the event that the incapacitated person lacks competency and makes harmful decisions. A guardianship may also be needed if the power of attorney does not act in the best interest of the incapacitated person.  If the power of attorney is exploiting the individual by depriving them of their funds or their rights, a court will appoint a guardian to prevent any continued abuse.

If you have more questions on this topic, please contact our office at (941) 906-1231 to speak with one of our attorneys.

March 31, 2017
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Guardianship vs. POA: Incapacitated Individuals

By Elder Law, Estate Planning, Guardianship

In estate planning documents, an agent can be  chosen to act under a power of attorney, which is especially  useful in the event that the principal becomes incapacitated and cannot make decisions for himself.  Typically, a power of attorney is given the authority to control financial affairs. Other times, powers of attorney have complete control over the ward.

When the power of attorney is properly advocating for the ward, and the ward is cooperative, a guardianship may be avoided. However, there are instances and situations that nonetheless necessitate a guardianship. If the incapacitated individual continues undertaking financial activities that put their assets at unreasonable risk of depletion and wasting, a guardianship may be necessary. The guardian can make decisions regarding the ward’s financial, legal, and medical affairs, but some decisions must be approved by the court. By appointing a guardian, the court is able to preserve the ward’s property from dissipation.

If you have more questions on this topic or wish to set up documents, please contact our office at (941) 906-1231 to speak with one of our attorneys.

March 28, 2017
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Florida Studio Theatre Event – April 10th, 2017

By Estate Planning, Firm NewsNo Comments

Babette Bach will be one of the key speakers talking about end of life issues at the Florida Studio Theatre event entitled “Everything You Ever Wanted To Know About Death But Were Afraid To Ask”. This event takes place on Monday, April 10th, 2017 at 5pm in the Bowne Lab Theatre at FST. If you are interested in attending, please click this link or copy and paste it into your browser for more information:

http://conta.cc/2o5RBeH

 

 

 

March 24, 2017
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What are the different levels of VA benefits?

By Government Benefits, Veterans Affairs

There are three different levels of VA pensions. Basic Pension/Improved Income applies to healthy veterans with lower incomes who are over the age of 65. Aid and Attendance is a program for veterans also over the age of 65 who require assistance with their daily living activities. Lastly, the housebound pension covers veterans with a disability rating of 100% that does not have to be related to their service in the military. To qualify, the disability must prevent them from leaving their home.

March 21, 2017
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Aid and Attendance Pension vs. Medicaid Compensation

By Government Benefits, Medicaid Planning, Veterans Affairs

It is imperative that veterans  take time to choose which government program best suits their needs. According to Paying for Senior Care, these are the 2016 costs for both programs.

Program Medicaid VA Aid and Attendance
Other names Medi-Cal, Mass Health Homebound, Basic Improved Pension
Regulation State Level Federal Level
2016 Income Limits $2,199/month (for individual) $1,788/month (for individual)
Application Approval Time 2-3 month 6-12 months
Best Suited For Nursing Home Care Home Care or Assisted Living

 

March 17, 2017
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What are the non-financial requirements to qualify for VA benefits?

By Government Benefits, Veterans Affairs

To qualify for VA benefits, there are many financial and non-financial requirements for veterans and veterans’ spouses to meet. Listed below are some of the non-financial requirements:

  • Veterans or their spouses applying must be at least 65 years old or designated as disabled if younger.
  • Veterans must be “wartime veterans” which means that they served in the military for at least 90 days during the dates below. Also, the service is not limited to combat service.

According to Paying for Senior Care, the dates are:

  • World War II: Dec 7, 1941 – Dec 31, 1946
  • Korean War: Jun 27, 1950 – Jan 31, 1955
  • Vietnam War: Aug 5, 1964 – May 7, 1975 (or Feb 28, 1961 – May 7, 1975 for Veterans who served in Vietnam)
  • Gulf War: Aug 2, 1990 – Undetermined

 

  • Veterans cannot have been dishonorably discharged
  • A higher benefit is granted to veterans who are disabled
  • For spouses, the surviving spouse must have lived with the veteran at the time of his or her death and must be single at the time of the application.

If you need legal advice for VA benefits, please contact our office at (941) 906-1231 for an initial consultation.

March 14, 2017
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What are some conflicts that arise from receiving VA benefits?

By Government Benefits, Veterans Affairs

Qualifying for VA benefits can be a complicated and extensive process due to certain requirements and conflicts with other government programs. Listed below are some rules and guidelines for veterans to follow to receive their benefits:

  • Because veterans cannot receive both VA Disability compensation and the VA Aid and Attendance Pension, they will receive the higher of the two programs
  • Veterans are able to receive both Aid and Attendance and Veterans Directed Home and Community Based Services
  • A surviving spouse of a veteran cannot receive both Dependent Indemnity Compensation (DIC) and a death pension on that veteran. However, the surviving spouse can opt for DIC and qualify for additional assistance of $300 a month.
March 10, 2017
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Does the VA pay for assisted living?

By Government Benefits, Long-Term Care, Veterans Affairs

The U.S. Department of Veterans Affairs does pay the rent of assisted living facilities for veterans that need certain eligibility requirements. However, it may pay for extra services that are essential in assisted living facilities.

Most veterans are expected to pay for assisted living facilities independently or through their long term care insurance companies. As a result, it is common for veterans to pay for assisted living using Aid and Attendance. Aid and Attendance is a pension for veterans over the age of 65 who need assistance with their daily living activities. This pension can be utilized for whatever purpose the veteran designates (i.e. assisted living rent, board, other services, etc.). Aid and Assistance can grant up to $2,120 a month in assistance for veterans.

If you need legal advice for VA benefits, Medicare, Medicaid planning, estate planning, probate or trust administration, please contact our office at (941) 906-1231 for an initial consultation.

March 7, 2017
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Restricted Filing: Changes to Social Security May Affect Retirement Planning

By Asset Protection Planning, Elder Law, Government Benefits

In 2015, Congress passed the Bipartisan Budget Act of 2015 which put an end to Social Security strategies that allowed couples to grow their spousal benefits. The two strategies “file and suspend” and “restricted filing” were used by married couples and were known as “claim now, claim more later.”

 

Restricted Filing

 The Congressional legislation banned restricted filing for individuals under the age of 62 as of January 2016. Restricted filing allowed an individual who was eligible for both a spousal benefit and a retirement benefit to choose just the spousal benefit at the retirement age of 66. Thus, the benefit could continue to grow at 8% each year and then that individual could opt for a larger benefit at any time up to the age of 70.

 

Despite these changes, there are still ways to grow your Social Security benefits. One method of accomplishing this is by deferring your payout. Because Social Security grows by 8% each year between your retirement age (usually 66 or 67) and 70, you can amass a sizeable increase if you choose to defer. Deferring payment also helps spouses by increasing the Social Security survivor benefit.

March 3, 2017
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