White Plains Long-Term Care Planning Law Blog

For many older adults, retaining their independent mobility and living status is a source of personal pride. However, there are many situations in which an older loved one may want to remain on their own but is clearly no longer capable of doing so. When that happens, family members may find themselves in the difficult position of needing to intervene.

Thankfully, state laws in New York allow for loved ones to seek guardianship of older adults if they can no longer handle the responsibilities and tasks of independent living. Learning a little bit more about warning signs of health issues that can lead to dangerous scenarios for your loved one is a good first step if you think guardianship may be in the future for your family.

Many people feel confused about the difference between Medicare and Medicaid. That confusion can lead people to improper planning for their medical needs as they age. Adults over the age of 65, as well as those who receive Social Security Disability benefits, typically qualify for Medicare. Medicare is a special insurance program designed to protect older adults and provide cost-effective health care options.

However, there are limits to what Medicare covers. That can leave some people in need of better coverage, such as what is available through Medicaid. Medicaid is an insurance program aimed at helping those with lower income levels connect with health care.

If you have grandparents or parents in their golden years, you are likely acutely aware of the importance of having a will or estate plan in place. Chances are good that your loved one has already taken the time to arrange for the disposition of their assets after they pass on.

While this is a great step to have taken, it doesn't mean that there are no further concerns for estate planning. If your loved one does not currently have a living will in place, you may need to talk to them about developing one as soon as possible. Addressing estate planning issues now will make future transitions easier for everyone involved.

Estate planning is the process through which individuals devise a plan for the distribution of their assets upon their passing. These assets can vary widely from person-to-person,and can encompass numerous asset types. Bank accounts, stocks and bonds, real estate, personal possessions and even intellectual property can be addressed in an estate plan. Yet, while creating an estate plan or when a loved one passes away, individuals are often left wondering how debts are handled after death.

Generally speaking, debts are not inherited. Therefore, when an individual passes away, his or her loved ones, even if named in estate planning documents, are not on the hook for repayment of debts. There are, of course certain exceptions, such as when a loved one co-signs on a loan. Therefore, any jointly held credit cards, mortgages and car loans may still need to be repaid by the living individual.