N A E L A - National Academy of Elder Law Attorneys

Are You Ready for Your
2:30 Appointment?
(continued from page 4)
exploitation, housing concerns,
financial issues concerning payment
for acute and long term
care, or facing issues of end-of-life
estate planning. A myriad of Elder
Law issues specific to the old-old
client and the family of the old-old
client exist. Medicaid is, of
course, only one of the many
important legal issues facing aging
clients.
What should this
sixty-year-old client
expect from an Elder
Law attorney? Is he
indeed seeing the right
type of attorney? Are
Elder Law attorneys’
skills and training
appropriate to meet his
needs as he contemplates
retirement and
prepares for the legal
and financial issues he
must face as he enters
this entirely new stage
of his life?
Let’s look at what
this client needs. First,
he needs to have his
estate plan reviewed.
His life has changed, since his
children are now grown, and his
father has some financial dependence
upon him. Being in a second
marriage, he may need consultation
about ways to provide for his
spouse while still protecting his
estate for the ultimate benefit of
his own children. He knows nothing
about estate taxes, although
he has heard the number
$600,000 somewhere. His current
will provides for an outright gift to
his spouse of his entire estate
with no tax planning, no provision
for his father and no provision for
any ultimate gift to his own children
other than as beneficiaries in
equal shares if his wife does not
survive. Indeed, his wife’s will
provides that the residue of her
estate is divided equally among
her children if her husband does
not survive.
Second, he would certainly
benefit from durable powers of
attorney for health care and financial
management as well as from a
living will that sets forth his personal
preferences for end-of-life
care. The counseling you provide
regarding the selection of agents
will be invaluable to your client.
Third, he would benefit from
an assessment of his financial
resources in terms of his possible
retirement, a review of his life
insurance, and advice on whether
his investments are appropriate
for a person facing fixed-income
living in retirement. The man’s
need for life insurance, for example,
has probably changed substantially
from the time it was
bought to put his children through
school, a goal now mostly met.
Fourth, he will likely appreciate
information about what to
expect with his father’s care
needs, the coverage available for
his expenses under Medicare and
potentially Medicaid. Helping him
understand available community
5
resources to assist with his
father’s declining abilities will also
be helpful, as well as consideration
of powers of attorney from
his father to him for future use if
needed.
Fifth, discussion of the benefits
of long-term care insurance,
what to look for in a policy, what
to avoid and what to insist upon
as basic coverage will help him to
work better with the insurance
salespersons he will undoubtedly
encounter, each
with his or her
own preferred
product and each
with less-thancomplete
advice.
Sixth, and
finally, and perhaps
most important,
this client
should be advised
that you are now
his lawyer for all
matters as he
enters the retirement
stage of his
life, that you are
experienced and
skilled in all of the
issues that we
face in later life,
including issues of estate planning,
paying for long-term care,
prescription drug coverage under
Medicare, protection of resources
in the event of long-term care
expenses, managing issues of
mental or physical disability within
the family, and issues of housing
options if the current home
becomes inappropriate for extended
periods. Furthermore, you are
there to advise on insurance questions
or refer him to trusted advisors
who offer quality advice. He
can ask you for a referral to an
advisor who can evaluate his
investments for appropriateness
for retirement. You are there for
him, for his wife, for his father, for
(continued on page 6)