Hilltowns Senior News for Thursday, October 13, 2016

As promised last week, today we have fun and frustration with finances. “There is always a way to protect your money,” says John Florsch IV of Fowler, Doyle, Spiess & Florsch, PLLC, and it is never too late to act.

Protecting your assets, no matter how small, and being prepared for the unexpected are the best things you can do to take care of yourself and your loved ones. Regardless of our age, long-term care insurance can be a good idea; people are living longer these days. Get a few quotes, and check the fine print; some policies stay the same price every month, but others allow the insurer to raise premiums.

Now is the time to make decisions and take action.You could choose to put your home or other assets in someone else’s name, but be aware; any transfer of assets within five years prior to your needing care will be automatically presumed to have been done for the sole purpose of obtaining benefits. Period. No discussion.

Another good reason to have an attorney advise you, and draw up any documents needed, is because every action has consequences, and an elder-law attorney is familiar with the common pitfalls that can occur. For example, if you own your home, and transfer it to someone else, you will lose your STAR (School Tax Relief) exemption, and the taxes can skyrocket.

You need protections built into that transfer because, once you do it, you lose all right to say how the home should be cared for, or even whether it can be sold.  An attorney can draft a “life estate deed” that allows you to retain the right to live in your home for the rest of your life. Even if Medicaid takes a lien on your individually-owned house, it must do so at fair-market value, and the county must approve the lien.

You are allowed to have some assets; an individual may retain $14,850, plus life insurance having a face value (at issuance) of less than $1,500.

If you are married, your spouse can have a home and auto of any value, plus an assets amount set by each county. Albany County allows $74,820; Rensselaer County permits $119,000. You may retain ownership interest in the sale of the property, even if you are in a nursing home when your spouse dies.

A hospital stay can cost $2,500 or more per day in the Capitol District.Your insurance company can refuse to pay if it decides that hospitalization is not necessary, and you need to be prepared to have someone who can act for you if you are incapacitated.

Nursing homes can cost $12,000 to $14,000 per month.If the patient is stable, the hospital’s discharge planner is under pressure to shuffle that person out as quickly as possible.Often, after three or more days, a patient has improved enough to go to a rehabilitation facility. The discharge planner will give you a universal application to determine your income, assets, and resources in case you may need Medicaid. No matter how much money you have, it can be eaten up very quickly by long-term care charges.

Nursing homes and rehabs would like to know in advance how they will be paid. A good nursing home can “cherry pick” its clients to assure a positive cash flow. While you are in the hospital, you will be offered a choice of eight nursing homes or rehabilitation facilities that have openings. If no beds are available nearby, the law allows the hospital to look as far as 50 miles away.You are required to take the first available slot, or your insurance can refuse to pay.

If you have designated a durable power of attorney, that person can act for you in choosing a facility. If you haven’t legally and formally designated someone, a relative can sign for you.This may include drunken uncle Louie, or that cousin you’ve always hated, or your beloved but addle-pated, irresponsible son.

You may be told that you or your loved one is required to “spend down” to the Medicaid income level. Be careful, and consult your attorney; the waters begin to get murky here! Some expenditures are allowed, and some are not.

You may pre-pay for your funeral, but you may not pay your grandchild’s college tuition. The tuition will be considered a gift, and will be disallowed. Disallowed expenditures can trigger penalty periods, during which you cannot apply for, or receive Medicaid, even though the money is gone.

You need an advisor who understands and can untangle this Gordian Knot.The law was changed in 2006, so now the penalty period begins only when you become otherwise eligible for Medicaid. Even under these circumstances, there are legal ways to protect your assets.

You might make a loan to someone; this would trigger a penalty. However, the income from the payments you receive could be used to carry you through the penalty period.

If this sounds confusing, it is. Government regulations are written that way on purpose. The government want to be sure that no one can get away with anything, but the (mostly well-to-do) lawmakers have very little concept of what life is like out here in the real world.  Meeting people and talking about hardship is very different from living with it.

An attorney can collect all the documents and facts that Medicaid will need, before you need them. They can send for copies, and check figures for accuracy.They can look at the advantages and disadvantages of joint accounts and transfers, and draft the documents that will protect you and your survivors.

Taking care of others after you’re gone

If you die (and most of us probably will at some point), beneficiaries and others who might have inherited if there were no will, can contest your will on the grounds of force, duress, or incompetence. You need to name those people, even if you only leave them $1, to stave off such a challenge.

Fluffy and Fido can be remembered, but leave money for their care, not bequest directly to them.To avoid confusion, specify their names, just as you would with humans.

Plan ahead for care of disabled family members. It can work to their disadvantage if a severely disabled child inherits directly.You may establish a trust for that person, though; it is allowed by Medicaid rules.

Online legal advice and forms can be risky; they may not contain all the language that is necessary to protect you and assure that things go the way you want them to. I have been yelled at more than once by attorneys who have reviewed my efforts using those sites.

Unless we went to law school, and have kept up on all the most recent regulations, none of us is so smart that we can’t louse things up. As a matter of fact, after doing the research for this article, and speaking with Mr. Florsch, I’m going to call him to review a couple of my self-lawyering efforts. My thanks again to John, and his fellows at Fowler, Doyle, Spiess & Florsch, for caring enough to advise me on this critical topic.

Coming up

Moving on, October is American Cheese Month, Positive Attitude Month, and American Pharmacists Month.  The coming week (16th - 22nd) is National Chemistry Week, National Food Bank Week, and National Friends of Libraries Week.  The 17th is National Pasta Day, and Wear Something Gaudy Day; the 18th is National Chocolate Cupcake Day. Medical Assistants Recognition Day is the 19th,  and Get Smart About Credit Day is the 20th. The week wraps up with Make A Difference Day on the 22nd, and you never know how much difference a small gesture can make.

An excursion to the Troy Farmers Market will take off this Saturday, Oct. 15. The bus will leave the Berne Community and Senior Center at 9 a.m. and will stay at least until noon. Call Chasity McGivern at 470- 9094, or email her at . There will also be a sign-up sheet at the Senior Center.

Saturday, Oct. 15 is also Senior Citizens Law Day at Albany Law School, 80 New Scotland Ave. in Albany from 98 a.m, to 3 p.m.There will be workshops on estate planning, Medicare and Medicaid, charitable giving, and protecting against scams. All sessions are free, and no registration is required.

There will be a Make a 3-foot Witch workshop on Tuesday, Oct. 18 at the senior center after lunch.

The next shopping bus, to Walmart and Colonie Center, will be on Oct. 19.  Call CDTA at 437-5161 two days in advance to arrange for pickup.

Friday, Oct. 21 is our next health presentation by the folks from Walgreen’s Pharmacy. They will be speaking about depression; how to recognize it and what to do about it. This is an important topic for seniors, because we may not easily recognize it in ourselves or our friends.

Sign up now at the senior center for the trip to the Festival of Nations on Sunday, Oct. 23. Bus leaves the senior center at 1 p.m. and will return by 5 p.m. Cost is a whopping $4. Contact Phyllis Johnson at 872-9370 for more info.

Albany County is sponsoring another Senior Summit on Wednesday, Oct. 26. This is our opportunity to pick up information, and talk to senior service providers and our elected officials to tell them what programs and services we really want or need. It will be held at St Sophia’s Church on Whitehall Rd. in Albany from 8:30 a.m. to 1 p.m. Assorted breakfast snacks will be served, so please register by signing up at the senior center, or calling Scott Siegel at 447-7040.  Transportation will be provided; if you haven’t signed up yet, call Phyllis at 872-9370 if you need a ride.

November 1 is a free concert at 1 p.m. at Proctor’s in Schenectady, featuring the Empire State Youth Orchestra. Call Linda Carman of the Hilltown Seniors at 872-2448 to reserve your free tickets. Transportation will be provided by Helderberg Senior Services. Bus will leave at 11:30 a.m.

We regret to announce that Helderberg Senior Day Care will be closing on November 4. This is  separate from the lunch program.

On the plus side, the lunch program can now offer transportation to and from lunches. No driving in the rain, or wondering if you feel up to taking the car out; we can provide door-to-door service. Just let Linda Hodges (872-0940) know you’d like a ride when you call to reserve lunch.

Menu

The lunchtime menu for next week at the Berne Community and Senior Services Center is ready.  Swap tales with friends, and enjoy a lunch that you don’t have to cook.  Doors open at 11 a.m. and lunch is served promptly at noon.

— Monday, Oct. 17, baked ziti, Italian blend vegetables, Italian bread, chocolate pudding, and milk;

— Tuesday, Oct. 18, baked fish with lemon herb sauce, stewed tomatoes, rice, rye bread, applesauce cake, and milk; and

— Friday, Oct. 21, cheeseburger with Swiss, oven roasted potatoes, brussel sprouts, wheat bun, oatmeal cookie, and milk

Please call Linda Hodges 24 hours in advance to 872-0940 to reserve lunch or arrange transportation. You can also email her at: , or sign up when you come in. Tell us how many are coming, your name, and your telephone number.  If you’d just like to come and help out, give Mary Moller a call at 861-6253, or email her at , and put “volunteer” in the subject line.

Lunches are provided by Helderberg Senior Services, the Albany County Department of Aging, and Senior Services of Albany. The Town of Berne Community and Senior Services Center is located at 1360 Helderberg Trail (Route 443) in Berne.