The differences between a Power of Attorney and Court-appointed Conservators and Guardians are quite substantial. One can be done prior to its need arising, while the others are usually done after a traumatic incident has occurred and decisions for the person must be made by another party. The differences will be discussed in part as they pertain to Long Term Care Medicaid.
A Power of Attorney, or POA, for medical decisions and financial transactions is a set of documents that will allow someone of your choosing to make decisions for you if you should become incapacitated and are not able to make decisions on your own. The POA's may be done years in advance of being needed and can be done thru an attorney or with forms available at office supply stores or online.
With these documents, you may appoint someone with whom you're confident, who will make choices on your behalf. For instance, if you discuss your preferences ahead of time with your POA, the appointee would know if you want life support if needed, or if you do not want to be put onto life support. Likewise, a financial Durable POA can pay bills out of your bank account for you, sell a vehicle, or even your home if required for long term assisted housing.
For Colorado Medicaid, it is advisable in the financial Power of Attorney to include an additional paragraph that pertains to setting up trusts. Most documents have a general reference to trusts. However, Colorado Medicaid requires special verbiage in the document to work with the State. The verbiage required includes "create, amend, revoke or terminate an inter-vivos trust." The State of Colorado requires this be included in a financial POA so the POA can set up a Medicaid income trust for the person-in-need, if required. (Please refer to previous articles where I've discussed income limits for the Long-Term Care Medicaid program.)
Many older POA's do not have this additional wording. Because it's only been recently that the State made this change, it would be advisable to review your current Powers of Attorney to see if this is included. Updating POA's every 5-10 years or so would be advisable anyway, as situations change with time.
Did you know that a Power of Attorney appointment ends with the death of the person for whom the POA was established? Should the person pass away, the person's POA, and their rights, end. It's at this point that an executor of a Will begins.
If a person does not have Powers of Attorney set up and there's a life-altering incident, such as a stroke, a court appointment for the person would be required. Conservators cover financial transactions and Guardianships take care of medical decisions. Generally speaking, a lawyer would be well-utilized in helping with the documents required for the courts. The Conservatorship/ Guardianship process can be cumbersome, so having an attorney who is familiar with the procedures is very helpful. Unfortunately, it's also costly.
Overall, the best advice would be to have Powers of Attorney set up while you're healthy and able to make your own choices. Including the inter-vivo’s wording ensures the POA will cover transactions that may be required.
—-----
Editor’s Note: This article was submitted by Joell Gray, owner of JG Medicaid Consulting LLC. She can be reached at 970-216-4999 or by email at jg.ltc.med@gmail.com.
People over the age of 65 are more likely to be readmitted than younger patients, and readmission can be more serious for seniors.Readmission after an illness or injury is a serious health issue for seniors. However, it is important for seniors and their loved ones to remember that in many cases, readmission is avoidable and can be prevented with a thoughtful post-hospital care plan.Nearly one-fifth of all Medicare patients in the United States who are discharged from the hospital end up returning within 30 days. There are many reasons seniors may need to be readmitted to the hospital, but healthcare agencies are focused on finding ways to reduce these numbers and educate patients about how to have a healthier recovery at home.For many seniors, this means having a quality caregiver that can help them overcome some of the main preventable causes for returning to the hospital. Consider the following:Medication is critical: Some seniors need assistance taking medication in the right amount on the correct schedule. When you consider that, on average, seniors with chronic conditions fill 50 different prescriptions annually, it is not difficult to imagine how someone could get confused when a new medication is added to their regimen. Caregivers can not only remind seniors to take medications as prescribed, but they can also help seniors keep a list of those medications and their dosages so the information is readily available for healthcare professionals. Managing medications is one of the best ways a caregiver can help seniors during their recovery.Follow up visits prevent readmission: A full two-thirds of patients readmitted to the hospital would have avoided that trip if they had seen their physicians within two weeks for follow up. The reasons for not following up vary but can include transportation difficulties and forgetting to make or keep appointments. Hospital staff can aid the senior by setting up appointments for the individual before discharge, but getting to the appointment can still be a challenge. In addition to a host of uplifting care services, caregivers can provide transportation to appointments and keep track of any post-care visits.Discharge plans only work when implemented properly: Having a discharge plan for the patient before he or she leaves the hospital can be crucial for recovery, but it can be difficult for seniors and their family members to focus on the plan during the stress of the illness and discharge. Caregivers can help the senior follow the instructions and will connect with family or other approved individuals when there are problems or change in condition during recovery. They can also help explain the information or ensure that the appropriate person is notified if the older individual has questions about his or her course of treatment. This takes the stress off the family and the patient so he or she can focus on recovery.Having a helping hand during recovery can ensure positive outcomes and a return to an active, engaged life. Family members, friends and neighbors are often willing to serve as a post-hospital recovery caregiver, but there is professional help available for those that dont have someone nearby to assist them. For long-term recovery, those who have the assistance of friends and family can benefit from a professional caregiver to provide respite care and support.Comfort Keepers Can HelpComfort Keepers caregivers can help with encouragement, support and assistance with daily living. And caregivers can encourage overall health through meal planning, grocery shopping, meal preparation and activities. Our custom care plans focus on physical and mental health and wellness activities. Our goal is to see that clients have the means to find the joy and happiness in each day, regardless of age or acuity.To learn more about our in-home care services, contact your local Comfort Keepers location today.ReferencesRelias. What you need to know about readmission among seniors. Web. 2016.American Hospital Association. Examining the drivers of readmissions and reducing unnecessary readmissions for better patient care 2011 AHA Policy Research. Web. 2011.Robert Wood Johnson Foundation. Ten things you should know about care transitions. Web. 2013.
As we age, managing our finances and personal affairs can become more challenging. Many older adults want to maintain their independence but also recognize they may need some help. This is where a durable power of attorney can be very useful.What is a Durable Power of Attorney?A durable power of attorney is a legal document that allows you to choose someone you trust to handle certain tasks for you. This person is called your "agent" or "attorney-in-fact." The word "durable" means that the document stays in effect even if you become unable to make decisions for yourself later on.How Can a Durable Power of Attorney Help?A durable power of attorney gives you flexibility. It allows you to get help with tasks when you need it, while still keeping control over your affairs. Here are some ways it can be helpful:Bill Paying: You can have your agent help pay your monthly bills, while you still manage other parts of your finances.Banking: Your agent can handle bank transactions for you if needed.Legal Matters: Your agent can sign legal documents on your behalf.Property Management: Your agent can help manage your property or real estate.Healthcare Decisions: If you have a healthcare power of attorney, your agent can make medical decisions for you if you're unable to do so.You Don't Lose ControlMany older adults worry that having a power of attorney means giving up control. This is not true. Here's what you need to know:You can still manage your own affairs as usual.You can still make your own decisions and handle your own finances.Your agent doesn't replace you - they just have the ability to help when needed.You decide what powers to give your agent. You can make it very limited or very broad.Flexibility for the FutureA durable power of attorney provides peace of mind. It ensures that someone you trust can step in to help if you ever need it. This can be especially important if:You become ill or hospitalizedYou have memory problems or confusionYou have physical limitations that make it hard to do certain tasksYou want to travel but need someone to handle things at homeChoosing Your AgentPicking the right person as your agent is very important. Here are some tips:Choose someone you trust completelyPick someone who is responsible and good with financial mattersConsider choosing an adult child, close relative, or trusted friendMake sure the person is willing to take on this responsibilityYou can name more than one agent if you wantSetting It UpTo create a durable power of attorney:Decide what powers you want to give your agentChoose your agent(s)Have a lawyer draft the document for youSign the document in front of a notary publicGive copies to your agent, doctor, and important family membersMaintaining Your IndependenceRemember, having a durable power of attorney doesn't mean you're giving up control. It's a tool that helps you maintain your independence by ensuring you have help available when you need it. You can still:Make your own decisionsManage your own moneyPay your own billsSign your own documentsYour agent only steps in when you ask them to or if you become unable to handle things yourself.Changing Your MindIf you ever change your mind, you can:Revoke (cancel) the power of attorney at any time, as long as you're mentally competentChange who you've named as your agentModify what powers you've given your agentPeace of MindHaving a durable power of attorney in place can provide great peace of mind. It ensures that:Someone you trust can help you if neededYour wishes will be followedYour affairs will be managed even if you can't do it yourselfYou have a plan in place for the futureGetting HelpIf you're interested in setting up a durable power of attorney:Talk to your family about your wishesConsult with an elder law attorneyDiscuss it with your doctorReach out to local senior services for guidanceRemember, a durable power of attorney is a powerful tool that can help you maintain control over your life as you age. It provides flexibility and security, allowing you to get help when you need it while still maintaining your independence.
Moms spend their days and nights thinking about how to make sure their children are happy, healthy, and safe. If youre a mom, you know. If you arent a mom, you were born because of a mom. Its one of the two things we all have in common. So, as Mothers Day approaches, lets talk about the most meaningful gift you can give or receive on this hallmark holiday that means a lot: every mom deserves the peace of mind and power to create financial security for themselves and their children with thoughtful estate planning. Now you may be thinking, Estate planning? Really? Isnt that just for rich people? Or, How does drafting a Will give me peace of mind and financial security? Glad you asked! Most people have a general concept of what estate planning means, but in reality, dont fully understand it. Believe it or not, estate planning is far more complex than just drafting a Will, and its not just for rich people, though doing it will leave your family much more rich than if you dont. Once you appreciate the power of estate planning, youll know why it has the power to gift you peace of mind.So lets start by parsing out what estate planning really is and why it matters for every mom you know, including yourself if you are a mom. Why Estate Planning Matters for Moms (and Dads too)Imagine having a roadmap that clearly shows how your financial assets, the guardianship of your children, and even your most cherished possessions are handled should anything happen to you. Now imagine that your roadmap is a legal document and the people receiving that roadmap are required to abide by your wishes and are able to easily do so because your wishes are so clear and youve left a guide for your family along with the roadmap. Thats what estate planning is: a legally enforceable plan for your future, and ideally a guide to help your loved ones navigate the plan. And, contrary to what most people think, estate planning isnt just for the wealthy or those who are nearing the end of life. Its for everyone, including you! Thoughtful estate planning gives you the power to make decisions now that will impact your and your family's future, giving you peace of mind to know you arent leaving a mess for the people you love. You may be wondering, Really? How does estate planning give me peace of mind? Relax - grab a mimosa or some tea, kick your feet up, and lets talk about how it works. Estate planning allows you to specify who will care for your children if you are unable to do so yourself. Its undoubtedly a tough subject, but choosing a guardian you trust to raise your kids as you would brings immense comfort, and may even guide you to build deeper relationships with the people youd call upon to care for your children, if you cannot. Knowing that your wishes are written down and legally protected can relieve a lot of stress, and relax any of those stressful in the background thoughts about that one person you would never want raising your kids. Without a plan, a judge would decide who takes care of your children if you cannot, and they might not choose the person you would have wanted. Or worst of all, they may even choose the one person youd never want raising your kids because maybe they look great on paper. Think about it: a judge knows nothing about you or your kids. They only know what they see in court filings. Thats it. Theyd have to make decisions with no input from you. Kinda scary, right?When done right, estate planning also lets you direct the distribution of your property and finances. Specifically, it ensures your assets are transferred to the people you choose without unnecessary delays, legal hurdles, or family conflicts. This not only secures your childrens future but also simplifies the administrative process at a time when your family should have space and time to mourn and heal, not get tangled in legal complexities. And if they do get tangled up in conflict, its highly likely that those relationships will be forever destroyed. That also happens. Again, more often than you may think. Heres the bottom line. When you get these things in order, you can die in peace, and that means you live life more fully. Estate Planning Equals EmpowermentEstate planning puts the power in your hands. It's a declaration of your values and your voice, legally secured to guide your family when you can't be there. By setting out your wishes clearly, you prevent disputes and ensure your legacy lives on exactly as you intend. After all, someone will have to wrap up your affairs after you die, so it may as well be you, now, while youre living. So step into your power, safeguard your children's future, and cement your role as the heart and protector of your family. In the process of getting your estate planning handled, when you work with an Estate Planning Law firm, youre going to learn a tremendous amount about your finances, and your financial literacy is going to grow in a way that will result in you feeling exponentially more financially secure and clear. Financial Protection In Case of LossEstate planning is especially vital if the unthinkable happens and your spouse or partner dies. Many mothers face not only devastating emotional loss but also the potential for significant financial instability - especially if you arent the primary breadwinner in your family. An effective estate plan, however, includes setting up mechanisms such as life insurance, trusts, and instructions for pension or retirement benefits, which can provide you with financial support when its most needed. Theres absolutely no reason you and your children need to compromise your lifestyle should something happen to your partner. For example, an estate plan ensures that you have access to joint assets and that any individual assets held by your spouse or partner are transferred to you or your children without delay. This can be critical in preventing financial hardship during an already challenging time, ensuring that you have the resources needed to maintain your home, cover living expenses, and continue to provide for your childrens needs.The Estate Planning Law Firm DifferenceBy now, it should be clear that creating an effective estate plan that honors your wishes and secures your and your familys financial future isnt as simple as creating a Will. Its more complicated than that and can be overwhelming, particularly with the legal jargon and the multitude of decisions that need to be made. These decisions are hard, too. When youre living your life, probably the last thing you want to think about is your death. Youd probably rather have a root canal. Fortunately, you don't have to navigate the process alone. Estate Planning Law firms, like ours, are uniquely trained, and trusted advisors who can guide you through the process, ensuring that your plan fits your specific circumstances and family dynamics. Heres a bonus: An Estate Planning Lawyer can also advise you on tax implications and the best ways to structure your finances to benefit you and your heirs. Yay! (Unless you want to pay extra taxes and give your money to the government instead of your kids, then knock yourself out).Finally, an Estate Planning Lawyer is committed to serving you and your family for the long term by checking in to update your plan as life changes, assets change and your kids grow. By working with an Estate Planning Law firm, you create a plan that is thorough, thoughtful and works when you and your family need it to. Contact Entrusted Legacy Law at 412-347-1731 or click here to schedule a complimentary 15-Minute call. This article is a service of Entrusted Legacy Law. We dont just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life and Legacy Planning Session, during which you will get more financially organized than youve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life and Legacy Planning Session and mention this article to find out how to get this $750 session at no charge. Please note this is educational content only and is not intended to act as legal advice.