Access to adequate healthcare coverage in the United States can literally mean the difference between life and death in some cases. Although most people have heard of the Medicaid program, many may not understand how it works or who may be eligible.

The Medicaid program is a collaboration between the federal and state governments. Although federally funded, the program is administered by the individual states. As a result, the eligibility requirements and benefits may vary somewhat among the states. There are, however, some general similarities among the state programs. Both income and resources are considered when you apply for Medicaid coverage. Limits on income and resources are determined based on your household size and the cost of living in the area where you live. Income and resource limits, however, may be higher for certain categories of Medicaid recipients such as pregnant women, the elderly and the disabled.

Coverage offered by Medicaid typically includes all routine medical care as well as emergency care. Benefits for the young, elderly and disabled as well as pregnant women may be more extensive than those for healthy adults. Coverage may also be retroactive for up to three months prior to the date you applied for benefits.

If you have resources, such as a home, that put you over the resource limit, you may be able to create an asset protection trust that will enable you to qualify for Medicaid benefits without having to sell the assets. If you have been denied Medicaid coverage because of your resources, or for any other reason, you have the legal right to appeal the decision. Consult with an experienced Medicaid lawyer to determine what legal options you have.

The Law Offices of Richard B. Schneider, LLC is a member of the American Academy of Estate Planning Attorneys.

Creating a comprehensive estate plan often requires employing various estate planning tools to accomplish your goals. Among those tools may be the creation of a trust.  In general, trusts offer flexibility and tax and probate advantages.  Before deciding which type of trust is best for you, a basic understanding of the advantages of different types of trusts is essential.

An irrevocable trust is a trust that is typically created and put into effect during your lifetime.  Unlike a revocable trust, an irrevocable trust cannot, under most circumstances, be modified, amended or terminated once created. Most states do provide for court procedures to modify or terminate an irrevocable trust; however, if you elect to create one, consider it to be unchangeable.

The primary advantages of an irrevocable trust relate to estate taxes and probate. Once you designate assets to fund an irrevocable trust, those assets become trust property. As trust property, they are no longer owned by you. Only property owned by you is included in the probate process and included in estate tax calculations. Considering the often high rate of estate taxes, a sizable irrevocable trust can save a substantial amount of money in estate taxes as well as months of waiting through the probate process.

One pitfall to avoid, however, is creating an irrevocable trust too close to the time of death. Assets transferred “in contemplation of death” will revert back to the decedent’s estate and be included for estate tax purposes.

The Law Offices of Richard B. Schneider, LLC is a member of the American Academy of Estate Planning Attorneys.

In days gone by, a retirement plan was typically rather simple. For most people, their retirement plan simply relied on a pension plan or Social Security benefits to support them upon retirement.  That type of retirement plan had little effect on their estate plan. Today, however, retirement planning has become considerably more complex which in turn has often led to more complicated estate planning needs as well.

When a retirement plan consists solely of pension or Social Security income, as was the case 50 years ago, that income generally stops upon the death of the recipient.  Therefore, there is no need to address that income in an estate plan. Today, however, many retirement plans include more complicated components such as investment accounts, trusts and savings accounts. Because these aspects of a retirement plan include assets that do not terminate upon death, they must be accounted for in the estate plan.

Ideally, you will devise a retirement plan that provides sufficient resources and income to take care of you throughout your golden years, with assets left over upon your death. Those assets need to be transferred to your loved ones at that point. Absent a comprehensive estate plan, those assets may be inaccessible to your loved ones for months while a probate case is pending in court and may also incur significant estate taxes before they are finally transferred to your loved ones. By creating a comprehensive estate plan to go along with your retirement plan, you may be able to avoid probate altogether and limit the amount of estate taxes your estate incurs upon your death.

The Law Offices of Richard B. Schneider, LLC is a member of the American Academy of Estate Planning Attorneys.

Know what they are?  Come find out next Monday the 19th at Hillsboro Community Senior Center at 1:30pm.  “Estate Planning for Retirement: What You Need to Know” www.rbsllc.com

The Law Offices of Richard B. Schneider, LLC is a member of the American Academy of Estate Planning Attorneys.

It is difficult to see a loved one enter a nursing home or long term care facility, but it is vitally important to stay involved in their care to ensure their well-being. While certainly steps should be taken to research the facility before admission to make sure it’s the right fit for your loved one as well as the facility’s record, you need to be vigilant in looking for any signs of nursing home abuse, neglect or substandard care.

Indications that patients are receiving substandard care or being neglected include:

• Bedsores;
• Significant weight loss and/or dehydration;
• Poor personal hygiene;
• Injuries or bruises from a fall due to lack of supervision or assistance; and
• Wandering or elopement – a patient repetitively moving throughout the home or being able to leave the home unattended.

Most cases of nursing home neglect are the result of insufficient staffing or poorly trained staff, rather than outright abuse. Often there is no malicious intent behind nursing home neglect, but victims can suffer significantly, and are often unable to communicate problems to their loved ones.

Recognizing neglect before issues become severe or even life-threatening is important. Residents with frequent and regular visitors have a better chance of being identified as a victim of neglect before the situation becomes critical.

Residents of nursing homes should enjoy the same comfort and rights as they would at home. Because of their vulnerability, residents are protected by specific nursing home laws for patients’ rights, which state that all residents in a nursing home are entitled to receive quality care and live in an environment that improves or maintains the quality of their physical and mental health.

Contact an Oregon elder law attorney should you need assistance with legal issues that relate to senior citizens.

The Law Offices of Richard B. Schneider, LLC is a member of the American Academy of Estate Planning Attorneys.

Our office will be closed for Thanksgiving from 5:00 pm on Wednesday, November 24 until 9:00 am on Monday, November 29. We wish all of our clients and friends a happy and healthy Thanksgiving.

The Law Offices of Richard B. Schneider, LLC is a member of the American Academy of Estate Planning Attorneys.