Nursing Home Expenses are Rising
July 28th, 2011
It now costs more than $400 a day to stay in a semi-private room in a nursing home in the Metropolitan New York area. The cost of nursing home care in the state of New York is rising at a fast pace. It is estimated that in ten years the rates for a semi-private room in a nursing home will be in excess of $600 a day.
High Cost of Nursing Home Care
An annual stay in a nursing home in a semi-private room on Long Island costs approximately $150,000. The cost of living in a one bedroom assisted living facility would be $52,000. Living in your home and having a health care aid for approximately 40 hours a week would cost approximately $50,000. With these high costs and anticipated higher costs in the future, Americans can’t afford to grow old unless they can take care of themselves.
Stay At Home
Although nursing homes try hard to provide comfortable living conditions for their residents, it is strongly recommended that you stay in your home and avoid nursing homes, if at all possible. Men and women feel more comfortable at their residences. Living in ones home provides a sense of security and self worth. Sometimes when men and women move into nursing homes, they become depressed at the loss of their freedom.
Medicaid and Nursing Homes
The large majority of men and women in nursing homes can’t afford to pay ten to twelve thousand dollars a month for their own care. The rely on medicaid to pay for the expenses of staying in a nursing home. Qualifying for medicaid is no longer simple.
Medicaid Planning
I am a member of the National Academy of Elder Law attorneys. I meet with men and women and their children on a regular basis to discuss long term planning. Unfortunately, many families come to me right on the eve of one of their parents requiring nursing home care. They are under the mistaken impression they can immediately transfer all of their assets out of their parents’ names and put one of their parents in a nursing home. Unfortunately, this is not the case. There is a five year look back rule in medicaid. This means the asset has to be completely out of the parents name for a period of five years prior to submitting a medicaid application. If the medicaid application is submitted during this five year period, the person requiring the medicaid benefits is subject to a penalty period in which the individual must self-pay for his or her nursing home care.
Estate Law – Wills & Trusts Lawyer
The law office of Elliot Schlissel has been assisting senior Americans regarding wills and trusts issuesfor more than thirty years. We draft wills and trusts. We probate wills. We litigate will contests. We draft special needs trusts for special needs children.
Elliot S. Schlissel is a member of The National Academy of Elder Law Attorneys. He handles elder care planning related to Medicare, Medicaid and nursing home issues. Call us for a free consultation.
The United Kingdom’s Discriminatory Royal Laws
July 22nd, 2011
The British government has recently accepted the fact that the laws in the United Kingdom concerning succession to the throne are discriminatory against women. Current rules for succession in Great Britain state that daughters are over looked in favor of later born sons. Prince William’s marriage to Kate Middleton has brought this issue before the public.
If Kate and William have a daughter and thereafter Kate gives birth to a son, the son would be the next in line for the English throne after William. The 701 Act of Settlements in Great Britain deals with succession laws. This law was fine for the men and women of the 18 century. The writer wonders whether it really is acceptable in the 21 century!
A statement by the British government recently was “the government accepts there are provisions which could be discriminatory” in referring the succession laws.
Succession Laws Bar Catholics
The anti Catholic succession laws are a throw back to the 1600′s. Catholic King James II was perceived as favoring Catholics and allowing them to come into positions of power. The Act of Settlement Law specifically states only Protestants are eligible to succeed, but it also specifically prevents Catholics from becoming King. This means you forfeit your right to the throne if you are in the line of succession and you marry a Catholic.
Keith Vaz, a British member of Parliament, recently stated “I think they’re all sitting down praying that Prince William and Kate Middleton have a son first, because if they do there is no need to consider this for some time to come” referring to the succession laws. Vaz also stated he found the 310 year old succession laws offensive. He has submitted a bill to Parliament to eliminate the discriminatory portion of these succession laws. A spokesperson from Buckingham Palace stated issues of succession are a matter for the government.
New York Will Contest Lawyers
Succession issues are similar to issues involving who will inherit your assets when you die. A large majority of us don’t have to worry about whether our children will become princes and princesses, but we do have to take into consideration what happens to our assets, homes, cars and loved ones after we die. The best way to deal with these issues is to draft a will. Family members who are unhappy with wills, can contest the will. After someone dies a will is probated. This is the process where a court determines whether the will is valid.
The Law Office of Elliot Schlissel have been dealing with wills, trusts and estate issues for more than 30 years. In addition to wills and estate related issues, we handle various elder care matters, including but not limited to nursing home abuse, medicaid planning techniques, medicaid issues, special needs trust for special needs children and all other elder care and estate planning issues. Call us for a free consultation.
Borrowing Against Retirement Accounts
July 20th, 2011
When Americans face financial stress they turn to their retirement accounts for liquid assets. Pensions, 401K plans and 403B plans are where Americans are turning to for quick infusions of cash.
In this past year borrowing from retirement accounts hit new highs. It is estimated that more than 15% of all individuals who have money in retirement accounts have borrowed from these accounts. Are Americans borrowing to the point that they won’t have sufficient funds when they retire? According to a recent Wall Street Journal article, more than a quarter of all retirement plans have outstanding loans against them.
The Effect of Borrowing From Retirement Accounts
Retirement accounts are designed to maximize compounded returns on your investments. Financial advisers believes most people do not have the discipline to pay back the loans against their retirement accounts and are therefore discounting the funds available when they retire. If you lose your job or change your employment, you will be unable to pay back the outstanding loan on your retirement account. If you borrow money against your retirement account and pay a portion of it back and thereafter are fired or moved to a new job, the unpaid portion will be considered a taxable distribution and taxed at income tax rates. You can also be stuck paying a 10% penalty if you default on paying back the loan against your retirement account.
New York Estate Planning Lawyer
Everyone will eventually die. The issue we face is we don’t know when this will take place. From my point of view, the later the better! When you pass on you want to simplify the issues your loved ones will face on your estate. The Law Offices of Elliot Schlissel can help you achieve this goal. We draft wills. We probate wills. We litigate contested will issues. We can advise you regarding issues concerning estate taxes.
We draft revocable living trusts and irrevocable trusts. We also draft special needs trusts for special needs children. We can advise you concerning medicaid planning techniques and other medicaid issues. We litigate nursing home abuse cases.
We are estate planning, probate and elder care attorneys. Call us for a free consultation regarding wills, trusts and estate matters
How will Raising the Medicare Age to 67 Affect You?
July 18th, 2011
With the exception of the government, everyone will pay more money for medical insurance and medical benefits if the medicare age is raised to 67. A number of years ago, the Social Security retirement age for individuals born in 1960 or later was raised to 67. At the time they raised the social security age, they left the medicare eligibility age at 65.
47 Million Americans Receiving Medicare Benefits
There are more than 47 million Americans receiving medicare benefits today. These benefits impact on seniors, as well as disabled individuals. Most experts believe the current medicare system is simply unsustainable given it’s current structure.
If medicare benefits are raised to age 67, seniors who are 65 and 66 will be paying for two more years for their health insurance. If they stay at work their employers will pay more for their health insurance. There are estimates that raising the medicare age to 67 by the year 2014 will cost employers over 14 billion dollars a year. Even young people buying medical insurance will pay higher premiums because some of their premiums will be subsidizing the older members on their medical plans.
President Obama’s Health Care Plan
Many of the assumptions about medicare assume President Obama’s health care plan will go into effect and not be modified by Congress or struck down by the courts. The costs of raising medicare eligibility to 467 may be high, but it is necessary! Americans are living longer. The program is now based on young Americans supporting older Americans that are receiving benefits. As the graying portion of our population increases, there will be too many seniors for the next generations to support. Raising medicare benefits to age 67 is a step in the right direction.
New York Will Contests Lawyers
The law office of Elliot Schlissel has been assisting senior Americans regarding wills and trusts issuesfor more than thirty years. We draft wills and trusts. We probate wills. We litigate will contests. We draft special needs trusts for special needs children.
Elliot S. Schlissel is a member of The National Academy of Elder Law Attorneys. He handles elder care planning related to Medicare, Medicaid and nursing home issues. Call us for a free consultation.
Easing Into Retirement
June 29th, 2011
When Is The Right Time to Retire?
It’s hard to say when it’s right time to retire; however, it is easy to say it is the wrong time to retire. You shouldn’t retire unless you have sufficient funds to carry you through your golden years. In the past, most people retired in their sixties. With declining savings and living costs going up, many Americans will have to wait till they’re in their seventies.
Retirement Suggestions
Instead of quitting your job, you may be able to negotiate reducing your working days or working hours. This will allow you to live without drawing on your savings. Downscale your life style. If you want to retire, you need to try to live more modestly. If your home is large, you can sell it and buy a smaller home or rent an apartment. You can move from an expensive state, such as those located in the Northeast, to cheaper, less expensive states in the South and Southwest.
You need to prioritize your needs. Instead of eating out once or twice a week, it is much less expensive to cook your meals and eat at home.
Forced Retirement
Losing your job or being downsized may force you into retirement. Employers may no longer want experienced employees in their fifties and sixties. This tends to raise the cost of their group health care and other group benefit packages. What do you do if you’re downsized and no one wants to hire you?You need to see a job counselor. You need to train yourself to work in another industry. Unfortunately, you also need to downsize your expectations as to what you’ll be earning.
Wills, Trusts and Estates Lawyers
The law office of Elliot Schlissel has been assisting senior Americans regarding wills and trusts issues for more than thirty years. We draft wills and trusts. We probate wills. We litigate will contests. We draft special needs trusts for special needs children.
Elliot S. Schlissel is a member of The National Academy of Elder Law Attorneys. He handles elder care planning related to Medicare, Medicaid and nursing home issues. Call us for a free consultation.
Nurse Practitioners Want Freedom from Supervising Doctors
May 26th, 2011
Last year, in the State of New York, midwives obtained the ability to practice their craft without the supervision of physicians. This year nurse practitioners are seeking the same freedom.
Pending Legislation in New York
There is currently a proposed bill before the New York State Legislature that would eliminate the requirement that nurse practitioners have to work under the supervision of doctors. In the event this statute is passed, New York would join sixteen other states, and the District of Columbia, in freeing nurse practitioners from the supervision of physicians.
Seth Gordon, the president of the Nurse Practitioners Association in New York, stated, “without that restriction, nurse practitioners would be free to enter into their own practices.”
Nurse Practitioners
A nurse practitioner is a registered nurse who has obtained a masters degree and has had advanced medical training. They are currently allowed to make medical diagnoses and they can also prescribe prescription drugs. Presently, a nurse practitioner must have a collaborative agreement with a practicing physician. This requires the doctor to review a nurse practitioner’s cases every ninety days. However, the review can be as minimal as the doctor simply looking at one of the nurse practitioner’s patient charts.
Nurse practitioners feel that the review by the physicians is unnecessary. The New York Medical Society opposes the statute, which would allow nurse practitioners to practice without the supervision of doctors. Nurse practitioners argue that removing the physicians supervision requirement would enable more nurse practitioners to have solo practices. They claim this would fill the gap in areas where there aren’t enough practicing physicians.
New York Wills and Trust Lawyer
We provide estate planning services. Elliot Schlissel is an elder care attorney. He drafts wills and trusts. He litigates nursing home abuse and medicaid related issues. He deals with medicaid planning techniques. He also assists individuals with special needs trusts for special needs children. Feel free to call for a free consultation.
Retirement: What if You Haven’t Saved any Money?
April 28th, 2011
Retirement is supposed to be a time of relaxation and enjoyment for Americans. The current economic situation in the United States may require a re-thinking of retirement issues. A recent study has shown that one in four individuals approaching retirement have saved nothing for their retirement years! The Employee Benefit Research Institute recently revealed that nearly 50% of all individuals who are close to retirement, age 56 through 62, will run out of money if they are retired for twenty years or more.
Planning for Retirement
Planning for retirement is a complicated process. You never know how long you’re going to live! It is difficult to anticipate future medical expenses.
Retirement Facts
In the year 2011, the average individual receiving social security benefits will take in about $1,200 a month. Studies show you’ll need approximately eighty-percent of your pre- retirement income to maintain the same level of life style you maintained in your pre- retirement days. If you are nearing retirement, it is strongly suggested that you obtain literature and/or professional advice concerning retirement. Some retirement organizations offer community seminars. The American Association of Retired Persons (AARP) has an enormous amount of information concerning what you can expect your expenses to be during the course of your retirement.
Are You In Debt
One of the first things that is recommended to individuals approaching retirement is to eliminate debt. The best way to do that is to review your expenses and take affirmative action to reduce these expenses. Examples of reducing expenses would be eating out in restaurants less often. You may have to change your life style and live a simpler, less expensive life.
Can You Downsize Your Home Expenses?
You may be able to sell your home and move into a smaller home. In some situations, you may be forced to sell your home and live in an apartment.
Don’t Retire!
Who says sixty-five years of age is the magic number to retire! People are living much longer today. Working into your early seventies may be the solution to your retirement issues. Another alternative is to simply not retire. I’m sixty-one years of age and I have no intentions of retiring anytime in the near future. I simply wouldn’t know what to do with myself if I retired. I anticipate I would be bored to tears!
Our law office has been handling estate planning matters for our clients for more than thirty years. We draft wills and trusts for our clients. We assist our clients in estate administration and probating wills. We deal with elder care matters involving nursing homes, nursing home abuse, medicaid, medicaid planning and medicaid planning techniques. We also assist our clients in developing special needs trusts for special needs children. Call us for a free consultation at 1-800-344-6431, 516-561-6645 or 718-350-2802.
Hearing Loss may be Related to Dementia
March 21st, 2011
Dementia is a disease that effects senior citizens. It is a terrible disease that literally fries the human brain. Recent studies have shown that a gradual hearing loss is one of the early symptoms of alzheimer’s disease, as well as other types of dementia.
Hearing impairments prevent seniors from following conversations. The loss of hearing also leads to seniors becoming confused. Some researchers believe that the loss of hearing and mental facilities are both factors in the development of dementia. Although brain abnormalities are a contributing factor to dementia, recent studies indicate that the hearing can be a cause of dementia. One of the theories is that the hearing loss interferes with the brains division of labor.
Hearing Loss and the Brain
Frank R. Lynn, M.D., an ear surgeon at Johns Hopkins Hospital, located in Baltimore, Maryland, recently stated “the brain might have to reallocate resources to help with hearing at the expense of cognition.” George Gates, M.D., a hearing loss specialist affiliated with the University of Washington, stated that hearing loss is a “harborer of impending dementia.” Studies conducted by Dr. Gates have proved the link between hearing loss and early stages of dementia and alzheimer’s disease. Dr. Gates stated that we listen with our ears but hear with our brains. It is simply not possible to separate hearing loss and cognition.
Individuals with hearing problems have difficulty communicating. When there is background noise, such as in public places, the hearing loss contributes to confusion and isolation of seniors. Hearing loss has a significant impact on senior citizens. It places a barrier between seniors and their loved ones. Dr. Lynn stated that “ because it is such a slow and insidious process, it is often ignored and untreated.” It is currently unclear as to whether hearing aides utilized at the early signs of hearing loss will reduce the development of dementia in aging Americans.
Dementia Is Incurable
Dementia is a horrible incurable disease. Modern medicine does not know how to prevent it. When diagnosed, all that can be done is to slow the progress of the dementia. Even the restoration of hearing loss issues may not slow the progress. Hearing loss should be taken seriously. It destroys an individual’s quality of life!!
Elliot Schlissel is a member of the National Academy of Elder Law Attorneys. His law office assists clients in Medicaid planning. They draft wills and trusts for their clients. They assist executors of estates in probating wills. Should issues occur among beneficiaries, they represent clients in will contests in the Surrogate Court. They can advise their clients regarding estate planning and issues involving estate taxes under the current legislation for the years 2011 and 2012.
They draft both revocable and irrevocable living trusts. The offices’ elder care legal practice deals with issues concerning nursing home abuse. They assist clients with issues involving special children and they assist families with long-term planning for special children. They also draft special needs trusts. Call for a free consultation at 1-800-344-6431, 516-561-6645 and 718-350-2802.
Alzheimer’s Disease: What are the Symptoms?
February 24th, 2011
Are you concerned that either you, a close friend or a loved one has the early stages of Alzheimer’s disease? What are the signs and symptoms of Alzheimer’s disease? Are your parents just becoming forgetful or do they have the early symptoms of Alzheimer’s disease? Should you believe that yourself, a friend, a family member or a loved one is developing Alzheimer’s disease, then you should go to a physician that deals with this disorder. There are very specific tests a physician can perform to determine whether Alzheimer’s disease is in its early stages.
The following are a list of symptoms you should look for concerning Alzheimer’s disease:
Memory lapses -Does the senior repeat himself or herself or tell the same story again and again? Are they forgetful concerning names and acquaintances? Is this a problem that is getting worse? Memory problems are one of the first signs of Alzheimer’s disease.
Confusion - Has this individual’s speech patterns changed? Does he or she stumble over their words? Instead of using specific terms, do they instead use terms such as “whatchamacallit”?
Mood changes - Is this individual subject to certain mood changes? Where they were normally assertive, are they now reflective? Is this individual becoming withdrawn or depressed?
Difficulty with common activities - Does this individual seem to have difficulty doing normal daily activities such as cooking, washing, bathing and playing games? Does this individual start projects and fail to complete them?
Disorientation - Does this individual become disoriented in situations where they never had difficulty before? Do they get lost easily or wander around aimlessly?
Misplacing items - Has the individual suddenly started to lose things or misplace items? Does he or she lose track of things such as keys, glasses or telephones?
The aforementioned provides you an overview of many of the problems experienced by individuals who have Alzheimer’s disease. Should you see these problems in a friend, family member or loved one, have them a see a physician to look into whether they are developing Alzheimer’s disease. There are medications that can slow the onslaught of this horrendous disease.
The Law Office of Elliot S. Schlissel drafts wills and trusts for our clients. We probate wills and trusts. We litigate contested wills and estate proceedings. We help our clients deal with Medicaid planning and issues involving nursing homes. We deal with estate administration and estate taxation issues. We also draft special needs and trusts, as well as supplemental needs trusts, for our clients. Feel free to call us at 1-800-344-6431; 516-561- 6645 or 718-350-2802 should you need legal assistance.
Medicare: How Do We Reform This Program?
February 20th, 2011
Cutting Doctor Reimbursements
Slowing Health Care Inflationary Expenses
The Law Office of Elliot S. Schlissel provides elder care legal services to our clients. We draft wills and trusts. We probate wills. We deal with Medicaid planning issues. We assist our clients with nursing home issues. We provide all types of elder care legal representation. We also draft special needs trusts and supplemental needs trusts for our clients. Should you need a will, trust or an elder care attorney, call us at 1-800-344-6431, 516-561-6645 or 718-350-2802.
Established in 1978, 
