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Reuter Law Firm is joining our colleagues at WealthCounsel in a public relations campaign to showcase National Estate Planning Awareness Week, October 17-23, 2011.

According to a 2010 industry trends survey of estate planners conducted by WealthCounsel, nearly 70% of the respondents indicated that Americans fail to plan because they lack awareness as to why they should.  The survey also found that consumers plan for a variety of reasons, but the most common are:

• Prevent familial chaos after death
• Avoid lengthy and expensive probate
• Minimize estate taxes
• Prevent heirs from mismanaging their money
• Provide for a special needs child

At the Reuter Law Firm, we are passionate about building awareness of the importance of thoughtful planning and is committed to educating the public about the negative consequences of what can happen to one’s loved ones when the proper documents are not in place.

Estate planning is one of the most overlooked areas of personal financial management.  More than 120 million Americans do not have proper estate plans to protect themselves or their families in the event of sickness, accidents, or untimely death.  This costs many families wasted dollars and unnecessary hardship that can be minimized with proper planning.

In 2008, the National Association of Estate Planners and Councils (NAEPC) worked with Congress to pass a resolution proclaiming the third week in October as National Estate Planning Awareness Week.  The resolution noted that “Many Americans are unaware that lack of estate planning and financial illiteracy may cause their assets to be disposed of to unintended parties by default through the complex process of probate.”  Take this time to update your estate plan with us!

Elder Abuse is a growing problem.  There are three basic categories of elder abuse: domestic elder abuse, institutional elder abuse, and self-neglect or self-abuse.  There is help out there for the victims of elder abuse.  However, many people do not know how to spot signs and symptoms of abuse.  Here is a blog post on institutional (nursing home) elder abuse written by David Terry, a St. Louis attorney whose law firm helps enforce the rights of victims of elder abuse.  Please visit the Terry Law Firm, L.L.C. website or Nursing Home Abuse Lawyer Blog for more information.  Thank you David for this information.  Look for more blog posts from David Terry in the future!

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It’s not always easy to recognize signs of nursing home abuse, much less actually prove that abuse has occurred.  Nursing home abuse exists in many forms and while a small sore or skin irritation may seem inconsequential, these seemingly insignificant medical issues can develop into life-threatening infections or even death.  For those with loved ones in nursing homes, it is critical that you can recognize the signs and symptoms of abuse and what steps to take.

If you suspect a loved one has been abused or neglected, report it immediately to nursing home management.  If your concern goes unaddressed in a timely manner or continues to occur, consult an attorney who specializes in nursing home abuse and neglect cases.  The attorney will ascertain whether legal action is warranted and what remedies might be available to you.

You should also immediately report any suspicions of abuse to your state’s nursing home abuse hotline.  In Missouri, contact the Department of Health and Senior Services at  (573) 751-6400.  If you are unsure  where to call, go to http://www.ncea.aoa.gov for a listing of nursing home abuse hotlines by state.

Carefully document the abuse.  If the abuse is physical, take several photographs of any bruises, rashes, sores, evident weight loss, or poor personal hygiene each day until your loved one is healed.  If the abuse is mental, make sure to make good written notes of the events, including dates, times, and names of individuals involved or witnesses.  As time passes, memory fades and notes and photographs are a good way to refresh your memory.

POSSIBLE ABUSE/NEGLECT:

• Pressure Sores (commonly known as bedsores or ulcers)
  • Possible Cause: Lack of movement from prolonged lying, sitting or reclining in the same position
• Personal hygiene deficiencies (skin rash or skin irritation)
  • Possible Cause: Lack of bathing or cleaning
• Bruises, fractures or lesions
  • Possible Cause: Resulting from a fall or physical abuse or trauma
• Significant weight loss
  • Possible Cause: Lack of sufficient nutrition and/or hydration
• Depression or disorientation
  • Possible Cause: Resulting from mental/physical trauma, over or under medication
• Unexplained mood changes, fear or anxiety
  • Possible Cause: Resulting from verbal, physical or sexual abuse

With the cost of nursing home care rising steadily over $6,000 per month, a couple’s life savings can be cleaned out in the blink of an eye.  When one spouse is in a nursing home (called the institutionalized spouse) and the other spouse is not (called the community spouse), there is a great concern about the amount of money the community spouse will have left to survive on.  Some couples with limited resources are eligible for MO HealthNet (Missouri’s Medicaid program) to help pay for the institutionalized spouse’s nursing home care.

Of course, there is a catch….or many catches.  Today, I will just focus on the “income catch” for now.

After meeting all the other MO HealthNet requirements, the institutionalized spouse must pay all of his or her income to the nursing home, except for $30 a month (and other small allowances).  The community spouse can keep all of his or her own income.  However, in some situations, MO HealthNet allows the institutionalized spouse to pay all or some of  his or her income to the community spouse.  This is where MMMNA comes in – or minimum monthly maintenance needs allowance.

Because of the great concern that a community spouse will run out of money, MO HealthNet allows the community spouse to hold on to a minimum of $1,839 per month of the couple’s income ($1,839 is the MMMNA in Missouri as of July 1, 2011).  So if the community spouse only has $1,000 of his or her own income per month, he or she may be able to keep $839 of the institutionalized spouse’s income rather than paying it all to the nursing home.

While MO HealthNet does give community spouse’s some protections such as the MMMNA, an elder law attorney can help you develop a plan to maximize the use of your assets.  If you or a loved one are concerned about the need for nursing home care in the future, call our office at 314-729-0200 today to schedule an appointment.  After all, you don’t know what you don’t know.

Here is a recent article posted on ElderLawAnswers about why planning for long-term care is so important: 

Thinking about a time when you will need help taking care of yourself is not fun. That is why most people put off discussing long-term care until it can’t be ignored. But it is better to start long-term care planning early. Here are some reasons to start planning now:

•People are living longer and are more likely to need long-term care. Life expectancies keep increasing, which means you are more likely to need help at some point. At least 70 percent of people over age 65 will require some long-term care services at some point in their lives, according to the U.S. Department of Health and Human Services.

•Care expenses are high. Whether you receive care in a nursing home or at home, expenses are rising. According to the 2010 MetLife Market Survey of Long-Term Care Costs, in 2010 the average cost of a room in a nursing home was $83,585 a year and home care aides averaged $21 per hour. Those figures aren’t going to start going down.

•Family caregivers may not be available. In more and more households, both partners work. In addition, children often move far away from their parents. This means that your adult children may not be able to easily take of you when the time comes.

•The earlier you plan, the better. By planning ahead, you may be able to preserve your assets instead of using them all up paying for long-term care. In addition, if you plan early, you may have more options for care.

To start planning for long-term care, talk to your elder law attorney. Planning steps may include executing advance directives and a power of attorney, putting assets in a trust, purchasing long-term care insurance, getting a reverse mortgage, creating a caregiver contract with an adult child, or transferring a house to children. Your attorney can help you figure out the best plan for you.

http://elderlawanswers.com/resources/article.asp?id=9172

Please visit ElderLawAnswers for more great information and call our office to start your long-term care planning now!