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Call Dan At612-866-0146 |
Elder Law |
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(Disability Planning/Long Term Care Planning/Powers of Attorney/ Health Care Directives or Living Wills/Conservatorships/Guardianships) |
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Elder
Law is estate and disability planning focusing on the special
needs of the older client.
No one likes to contemplate the possibility of becoming
disabled and, therefore, incapable of handling their personal
and financial affairs and incapable of living in their own home. Failure
to plan for disability, especially for the single older person,
can result in your family having to
contact me to establish a
Conservatorship or Guardianship through the Probate Courts.
I have experience in these Court proceedings, and am more
than willing to assist a family in the event the need arises.
However, Conservatorships and Guardianships are complex,
expensive, and very intrusive into your personal and financial
matters, and are easily avoided.
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Contact me today for estate and disability planning needs for you and your loved ones. |
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Disability Planning/Long Term Care PlanningNursing
home care and its cost is the most discussed issue in the Elder
Law field. Every
one of my older clients is concerned about how nursing home care
costs will impact them and their family. There
are no ways to “shelter” your assets if you require long term
skilled care. You
must pay for this care. Even if
you have long term care insurance, you will still have to pay
some of the cost.
Medicare, and any supplemental insurance, may pay the cost for a
short time. Sooner
or later, you will have to pay for your care Believe
it or not, the current average monthly cost of care is
between $5,000.00 and $7,000.00.
I have a significant amount of experience assisting
families who find themselves in this situation. I can
help you understand how long term care costs will impact your
family.
If you
spend your assets down far enough, the Federal government has a
program, known as Medicaid, which will pay for your long term
care. This is a
welfare program with strict financial qualification rules.
I can provide you with a realistic analysis on how long
term care costs will impact your current finances, and how,
when, and if you would be eligible for Medicaid (known in the
State of Minnesota as Medical Assistance).
Contact me to schedule a no
charge initial consultation to discuss your special
circumstances. Powers of Attorney
A Power
of Attorney allows you to give someone, usually a family member,
the authority to help you with your financial and business
affairs. The person
named in your Power of Attorney, called an Attorney-in-Fact, has
your authorization to access all of your non–health care needs.
This authority continues until you die. There
are two types of Powers of Attorney: Statutory (also called a
Durable General Statutory Power of Attorney and a Common
Law Power of Attorney
Durable General Statutory Power of Attorney A
Durable General Statutory Power of Attorney is very easy to
prepare. You can
name successor Attorneys-in-Fact, or co-Attorneys-in-Fact.
The format of the document is outlined in the statute
authorizing its use.
If properly completed and executed, it is almost
universally accepted at any bank, financial institution, or
insurance company.
Common Law Power of Attorney A Common
Law Power of Attorney is a much more extensive document drafted
entirely by an attorney with expansive powers given to the
Attorney-in-Fact. A
Common Law Power of Attorney is only needed when the client’s
potential future needs won’t be met by using the Durable General
Statutory Power of Attorney.
Powers of Attorney will prevent the need for formal
Probate Court proceedings to give someone access to your
finances. They are
excellent disability planning tools, easy to prepare, and easy
to use.
Contact me to schedule a no
charge initial consultation to discuss your special
circumstances. Health Care Directives also known as Living WillsA Health
Care Directive (Living Will) allows you to appoint someone,
usually a family member, as your agent to make health care
decisions for you in the event you are incapable of
communicating with your medical providers. A Health
Care Directive (Living Will) can also provide detailed
instructions about the kind of health care services you do or do
not want, and will give your agent access to your medical
records. A
properly appointed health care agent has the obligation to carry
out your health care wishes.
If there are differences of opinion among your family
members regarding the care options available to you, you can be
assured your agent has a legally enforceable obligation to carry
out your wishes.
Your health care providers will rely on the authority you
have given your agent and will carry out your instructions.
Contact me to schedule a no
charge initial consultation to discuss your special
circumstances. Conservatorships/Guardianships
Guardianship and Conservatorship is a costly and time-consuming process.
These expensive and time-consuming proceedings can be
avoided if a person has executed a Power of Attorney and a
Health Care Directive (Living Will) before becoming
disabled. I
describe below the reasons why this is expensive and
time-consuming. A person
who becomes disabled and incapable of managing his or her
financial and personal affairs will need a formal Probate Court
proceeding to appoint a Conservator or a Guardian.
A Conservator is appointed to manage the estate.
A Guardian is appointed to manage the person.
Guardianship and Conservatorship Probate Court proceedings can
be very hard on the
family. A member of
the family must petition the Court for appointment.
The petition must state the reasons why the appointment
is necessary. Once
the petition is filed, a hearing date is set and the hearing
Order must be served on all family members, and must be
published.
Before
the hearing date, a Court appointed visitor is required to read
the entire petition to the disabled person, who will now be
known as the “Protected Person”.
An attorney must be retained or appointed for the
Protected Person.
The petitioner, the Protected Person, and their attorneys appear
before the Probate Court at the hearing.
The petitioner is required to testify at the hearing and
provide proof that the Conservatorship/Guardianship is
necessary. The
Protected Person can dispute the need for the appointment. When the
petition is granted, and appointment ordered, the
Conservator/Guardian will be required to post a performance
bond, usually equal to the amount of the Protected Person’s
assets. The
Conservator/Guardian will then obtain a document from the Court,
known as Letters, which will grant access to the Protected
Person’s estate.
The Conservator/Guardian can then pay for the needs of the
Protected Person. A
Conservator/Guardian is also required to prepare and file with
the Court an Inventory and Appraisement of the Protected
Person’s assets as of the date of appointment.
Every year, on the anniversary date of appointment, the
Conservator/Guardian will be required to prepare and file an
annual account detailing, to the penny, the income and expenses
for the year. A
Conservator/Guardian will also be required to attach all
cancelled checks, substantiating all annual expenditures.
Every three years, the Conservator/Guardian will be
required to appear before the Court to prove up the past annual
accountings. The
entire administration of the Protected Person’s estate is
supervised by the Court.
At the termination of the Conservatorship/Guardianship, a
final account is prepared and filed with the Probate Court.
A hearing is held to prove up the Final Account, and the
Conservator/Guardian is discharged and allowed to cancel the
bond. This is
a costly and time-consuming process.
The cost is paid out of the Protected Person’s assets.
These expensive and time-consuming proceedings can be
avoided if a person has executed a Power of Attorney and a
Health Care Directive (Living Will) before becoming
disabled.
Contact me to schedule a no
charge initial consultation to discuss your questions regarding
Conservatorships and Guardianships. |
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