EDITOR'S COLUMN
NANCY C. MCLAUGHLIN, CLAS
What would you do if suddenly you or your spouse became disabled and had to be admitted to a long-term care facility? Or, one or both of your parents or grandparents? Would their assets be protected? You might be shocked to learn that if a person does not qualify for Medicaid at the time of their admission to the facility, the resources for which they worked their whole lives could be totally wiped out in a matter of months! If only one has to be admitted, the other could very shortly become impoverished.
Even if you, your spouse, your parents or grandparents are in good health and will seemingly "live forever," you need to plan now for the eventuality that this is not the way it will always be. From personal experience, I found out the hard way. My 87-year old father had to go into a care facility about three years ago. It required approximately $36,000.00 per year for his various expenses, i.e. room and board, insurance and miscellaneous items such as toiletries, clothes, snacks, etc. This is more than many families make in a year! In order to qualify for Medicaid, we had to have a major "spend down." Needless to say, it did not take long before all of his resources were gone as well as part of mine. When he finally qualified for Medicaid, we did receive a refund. However, compared to what we spent, it was minute.
One of the problems many with elderly parents experience, is the fact that as they grow older, for some, not all, paranoia begins to creep in. They are afraid to sign over all of their assets to someone else for fear that they will be "kicked out in the cold." This is one of the reasons that it is so important to talk about the possibility of their not being able to live out their lives at home before the time comes to make the decision as to whether long-term, outside-the-home, care is necessary.
I would urge each and every one of you to discuss these possibilities with your family members before it's too late. And keep this magazine for reference. Although the numbers will change from year to year, most of the basics will remain the same. Just remember, the majority of us will be old someday!
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Thanks to all of you who have provided us with your e-mail addresses for posting on the TPJ web page. If you have not done so, please send them to me at my e-mail address listed below. We would also like to set up a directory on the web page which will be broken up into categories, i.e. civil, administrative, criminal, elder law, etc. We feel this will provide a valuable tool for our membership. If you require information or legal support services that a paralegal in that area of the state may provide, all you have to do is call up our web page. We hope all of you will get onboard and become a part of the Information Super Highway!
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I personally want to express my sincere appreciation to Chris Levy for
her hard work and dedication over the past several years in editing the
Journal. She has done a great job and for a person small in stature, has
left me with huge shoes to fill. We wish Chris and Marty the best of luck
in their new home in Edinburgh, Scotland. If you would like to correspond
with Chris, or visit her on your next trip overseas (!), check out the web
page for her e-mail address.