Google PlusA living trust, also known as an inter vivos trust, is a type of trust that can benefit you both while you are still alive, and after you pass away. However, before you think about creating a living trust for yourself, it’s important to understand what it is and what benefits it can offer. Here are five things you should know about living trusts:
Author: Tanya Hobson Williams
Appointed to the bench by the Board of Trustees in 2008, and elected in 2009, Tanya Hobson-Williams was the first African-American Female Justice in the Incorporated Village of Hempstead. Tanya Hobson–Williams obtained her B.A. in Government and Politics from St. John’s University and her law degree from Benjamin N. Cardozo School of Law.
Tanya Hobson-Williams has an active elder law practice assisting senior citizens in obtaining Medicaid for Home Care and Nursing Home Care. She routinely lectures at senior citizen centers, assisted living facilities, law schools and counsels families on a variety of topics of concerns to families caring for the elderly.
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Did Restaurateur B. Smith Have Advance Directives in Place?
Renowned restaurateur and former model, B. Smith, announced alongside her husband in 2014 that she was suffering from the early-onset symptoms of Alzheimer’s disease. As Ms. Smith’s disease progressed, her husband began an extra-marital affair to cope with the deterioration of his wife’s memory. After going public with the relationship, Smith’s husband received considerable backlash from the online community who condemned his behavior on the assumption that if Smith’s mental state were better off, she would not approve. It is unknown whether B. Smith executed any advanced directives or end-of-life care instructions before her condition worsened.
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What is a Reverse Mortgage?
As Americans grow older and with a majority of the older population now entering retirement, the need for income sufficient to cover expenses becomes greater. While there are programs such as Medicare, Medicaid, Social Security, and Supplemental Security Income, that help seniors with income and healthcare, those programs may not be enough for some individuals to pay for their monthly expenses or healthcare costs. There is another option that is available to many Americans over the age of 62, such as a reverse mortgage.
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Protecting Against Caregiver Theft
Over the past decade, the home health care industry has expanded dramatically with more than 200,000 New Yorkers reporting paid caregivers as their primary occupation. According to a study conducted by the Bureau of Labor Statistics, home health careers are expected to see the most rapid growth than other technical fields by 2026 and that by 2040, New York City will have an estimated 1.4 million seniors; approximately 70-percent of which will be in-need of long-term care services.
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Guildnet Closes Its Doors
On August 21, 2018, Guildnet CEO, Alan R. Morse, notified employees that the company will be closing its doors as of December 1, 2018, leaving New Yorkers in need of managed long-term care (MLTC) services at a disadvantage. The Guildnet program was designed to offer therapeutic/medical care, home healthcare services, case management, and medical equipment to those who qualify and will be in need of the provided services for a minimum of 120 days. Guildnet announced that by January 1st of 2019, all medical services to their 8,211 managed long-term care members will be terminated. United Healthcare, who until recently offered a partial MLTC plan, will also be pulling out of several counties in up-state New York by February of 2019, affecting nearly 1,500 enrollees who are said to be notified of these changes by November.
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Eliminating Major Capital Improvements
New York State Senator Michael Gianaris and New York State Assemblyman Brian Barnwell have introduced legislation that would do away with Major Capital Improvements (MCI) for apartments in an effort to protect tenants’ rights. According to an article from Crain’s New York Business, the MCI program began in the 1970’s which allowed landlords to make capital improvements to their buildings and pass the costs onto the tenants by raising their rents.
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Understanding Rental Increases
Landlord-tenant disputes can occur for numerous reasons with the most common issues arising due to the non-payment of rent.
According to the New York State Attorney General, the rental units are described as follows:
- Regulated Housing (rent controlled and rent stabilized);
- Unregulated Housing (private ownership);
- Special Housing (mobile homes, residential hotels, lofts); and
- Government-Financed Housing (section 8, public housing).
Nursing Home Concerns: Identifying Elder Abuse
Many wonder about the overall safety and well-being of their loved ones after admittance to a long-term care facility. This puts added pressure on the family should the facility be found insufficient. To better understand the risk factors involved with assisted living and nursing facilities, the care experts at HelpGuide.org have categorized elder abuse in the following ways:
- Sexual Abuse;
- Physical Abuse;
- Financial Exploitation;
- Elder Neglect; and
- Emotional Abuse.
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Importance of Advanced Directives
As the seasons begin to turn, it is important to stress the need to have your advanced directives in place. Advanced directives include:
- A health care proxy;
- Health Insurance Portability and Accountability Act (HIPAA) release form;
- A living will; and
- Power of attorney.
Fair Hearings – Medicaid
Applying for Medicaid or any other government benefits can be challenging. If an application for Medicaid or other government benefits is denied, it is important to understand that you have the right to appeal the denial to the State in an administrative proceeding called a Fair Hearing. (NOTE_- You must also request an internal appeal of an adverse decision with your healthcare provider in addition to requesting a NYS Fair Hearing)
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