Also known as Medicare supplemental insurance, “Medigap” is a type of health insurance policy available through private insurance companies. Medigap refers to the type of coverage these policies cover: the difference between what Medicare covers and what it doesn’t cover. The “gap” is the out-of-pocket expenses not covered by Medicare insurance. According to the federal government, almost one-fifth of those covered by Medicare purchase Medigap coverage to cover their unreimbursed Medicare costs.

Medicare insurance covers senior citizens age 65 or older and those with certain serious kidney diseases, regardless of age. Additionally, if you receive Social Security Disability Insurance benefits, you may also receive Medicare benefits, regardless of your age. Depending on the type of Medigap coverage you purchase, you may be eligible to receive prescription drug coverage. Currently, Medigap insurance policies only cover out-of-pocket hospital costs and doctor’s visits uncovered by Medicare. For instance, your Medicare policy may not cover copays or insurance deductibles, in which case purchasing supplemental insurance could save you money, depending on your health care needs. According to federal and state laws, most Medigap providers must provide their enrollees with a standard package of benefits. The federal Centers for Medicare & Medicaid Services provides a free downloadable publication to help you understand the basics of Medigap policies: http://www.medicare.gov/Publications/Pubs/pdf/02110.pdf

Pyke & Associates, P.C. is a member of the American Academy of Estate Planning Attorneys.

Elderly people today have more housing options than they had in the past. Elderly individuals who are no longer able to live completely independent lives no longer have to make the tough decision to live with family or friends or live in nursing homes. Now, they can live in alternative housing, including assisted living facilities, board and care facilities and continuing care retirement communities. Thus, you can find supportive housing communities that help you live somewhat independently while providing you with medical assistance and self-care options. The alternative supportive housing communities and institutions range in size and price. If you need specialized medical care and live in a high-cost area, you may have to pay more.

Many elderly individuals choose to live in assisted living facilities instead of traditional nursing homes. Typically, residents enjoy more freedom and space in assisted living centers than nursing homes. Although medical care and other services are available 24 hours a day, patients enjoy more privacy and less medical supervision in assisted living facilities.

Some continuing care retirement communities offer even more options and personal freedoms than assisted living facilities. If you have less serious medical needs and can move around independently, you may want to consider these types of housing arrangements. Whatever you decide, make sure you talk to your friends and family about your needs. They may ask you to live with them instead.

Pyke & Associates, P.C. is a member of the American Academy of Estate Planning Attorneys.

Suggesting to a parent that he or she has reached the age where it may be time to consider moving to a retirement facility is not an easy thing to do. More often than not, it is met with considerable resistance. Your parent likely sees giving up his home as giving up his independence. If you are concerned that remaining in the home may be difficult, or even dangerous, for your parent, you may wish to try a practical approach. What will it cost to stay in the home? Take the time to get estimates for the following:

• Modifications to the home such as the addition of hand rails, grab bars and additional lighting
• Building ramps and opening up doorways
• A chair lift if the home has a second story
• Home health aids or nursing services
• Transportation
• Cleaning services
• Meal preparation

Once you have estimates for all of the above, try approaching your parent from a practical angle and explain what it will likely cost in the years to come for him to stay in the home, versus what it will cost to sell the home and move to a retirement facility. Often, the cost of staying in a home will far outweigh the cost of selling the home and moving. Although your parent may not like the idea of leaving the home, seeing what it will cost in dollars and cents to stay may be a strong, non-emotional, incentive to consider moving.

Pyke & Associates, P.C. is a member of the American Academy of Estate Planning Attorneys.

Although America has some of the best medical care in the world, it is also among the most costly. If you are the loved one of an elderly individual who is facing the possibility of long-term nursing facility care, you are likely also concerned about the cost of the care. Although the cost of long-term care can vary significantly among states, and even facilities within states, a year’s stay can easily exceed $100,000. For the average American, that means their life savings can be depleted within an amazingly short time. Private health insurance coverage may not even be the answer because many plans have a lifetime maximum that can be reached within a few short years. The Medicaid program may be an option; however, getting an application approved is not always easy.

The Medicaid program is intended to provide health care coverage for those who are considered low-income. As a result, both the income and assets of your elderly loved one will be considered when determining eligibility. The exact income and asset limits will depend on household size and other factors; however, they are relatively low since the program is intended to be for low-income applicants. Because of this, many elderly applicants are forced to sell assets or use up their savings in order to meet eligibility guidelines. This may not be necessary with proper planning.

 By consulting with your Fayette County elder law attorney ahead of time, you may be able to devise a plan that will allow your elderly loved one to meet the eligibility requirements for the Medicaid program without having to part with his or her life savings.

Pyke & Associates, P.C. is a member of the American Academy of Estate Planning Attorneys.

At some point in your life you may be faced with difficult decisions regarding how to handle an elderly loved one or family member who has become unable to care for himself or herself without assistance. In some cases, your loved one or family member simply needs assistance with day to day activities due to the natural aging process; however, sometimes more intensive assistance is necessary which may require you to obtain guardianship over your family member or loved one in order to provide the required assistance.

Many people are under the impression that stepping in to help a family member can be accomplished solely on the basis that the person is your parent, child or other relative. In most states, this is not the case. In order to make legal decisions for someone you typically have to have guardianship over the person. Although state laws differ, guardianship over a person usually allows you to make decisions such as where he or she will live. A guardian has control over the ward, or person who needs assistance. A conservator, on the other hand, generally has control over the finances of the ward.

Obtaining guardianship over someone requires court approval. Typically, a petition must be filed with the appropriate court asking to be appointed as the guardian. Notice is then given to all interested parties, including the ward. You will then need to convince the court that your loved one or family member needs a guardian and that you would be an acceptable guardian. Consult with a Fayette county elder law attorney to find out more about what is required in your specific case.

Pyke & Associates, P.C. is a member of the American Academy of Estate Planning Attorneys.

 At some point in your life you may be faced with the necessity of looking into long term care for a family member or loved one. Long term care may be necessary due to the age of the individual or because of a physical or mental disability that makes completely independent living impossible. Many family members try to take care of the individual alone, in their own home, for some time before deciding that help is needed. If you have reached the point where you are considering long term care assistance, there may be a number of options available. Long term care is available in three general categories: home care, assisted living and nursing home care.

As the name implies, home care offers assistance by providing a registered nurse, nurses aid, therapist or other health care professional in your own home or that of your loved one on an as-needed basis. This type of care may be provided on a daily weekly or monthly basis. The extent of the home care assistance will depend on the needs of the patient and the family members who are caring for the patient.

Assisted living facilities have gained popularity as a way for individuals who live independent lives but are unable to fully care for themselves, yet do not need around the clock care. An assisted living facility often provides the individual with his or her own living quarters within a community that is staffed by health care professionals. While the individual is allowed the freedom and independence to perform those tasks he or she is able to perform without help, help is always close by for those tasks that require assistance.

A final long term care option is a nursing home. Nursing homes provide around the clock care for individuals who are unable to care for themselves. If your family member or loved one requires extensive and regular medical attention, or is unable to function independently, then a nursing home may be the best

Pyke & Associates, P.C. is a member of the American Academy of Estate Planning Attorneys.

 Henry County elder law attorneys spend a lot of time keeping abreast of trending matters that are of interest to senior citizens. One of the issues that is getting the attention of the elder law community these days is elder financial abuse. While it is hard to understand how anyone could find it possible to take advantage of people specifically because of their vulnerability, it happens; and it happens far too frequently.

According to a study that was recently conducted by MetLife an estimated $2.9 billion goes down the drain each year due to instances of elder financial abuse. This type of abuse comes in many forms, and when people try to formulate statistics on the subject they are challenged because of the fact that so much data is withheld.

The vast majority of instances of elder financial abuse go unreported. The primary reason for this is because the perpetrator is often a family member of the victim. Not only does the elder who is being abused want to protect his or her family member, but the senior citizen often needs the assistance that is being provided by this individual. This is a cruel irony, and it can fuel a cycle of ongoing abuse.

But there are many cases of elder financial abuse that are committed by people that the victim doesn’t know, and a lot of them take place over the Internet. There are innumerable scams circulating at any given time that involve the victim parting with money now with the promise of a larger return later on. Of course later on never comes and the scam artist disappears, leaving no trace.

Another way that seniors are getting taken advantage of in the digital age is through identity theft. It is very important to guard your sensitive information and you may want to enroll in an identity guard program that monitors the use of your name and Social Security number.

Elder financial abuse is a burgeoning problem. If you would like to gain an understanding of how you can take legal steps to protect yourself, take a moment to arrange for a consultation with an experienced Henry County elder law attorney.

Pyke & Associates, P.C. is a member of the American Academy of Estate Planning Attorneys.

 It is important to look over the horizon and make plans for the different stages of life that you will be passing through. When you are younger it can be hard to wrap your head around the idea that significant changes in your life may be in store for you as the years pass. For this reason you may allow a lot of time to go by before mapping out any intelligent preparations for the eventualities of aging.

This is a mistake that is made in Atlanta all too often. The time to make plans for the latter portion of your life is when you are younger and in full control of your faculties. With this in mind you would do well to consider the possibility of incapacitation.

At the present time the average lifespan here in the United States is 78.7 years and it seems to be rising all the time. In fact, the oldest among us, people who have reached the age of 85 and up are the fastest growing age group. Statistics indicate that roughly half of the people who reach this age are dementia sufferers, and this is largely attributable to how widespread Alzheimer’s disease has become among our nation’s seniors.

Dementia can make it hard to understand equations and make decisions. For this reason incapacity planning is recommended and it involves empowering representatives to make financial and medical decisions on your behalf through the execution of documents such as a Durable Financial Power of Attorney and an Advance Directive for Health Care.

If you don’t have an incapacity plan in place, interested parties could petition the court to appoint a guardian to act for you, and you may have no input into the selection of this guardian. Through the execution of powers of attorney and health care directives you can circumvent this possibility. The first step to take along these lines would be to arrange for a consultation with an experienced Atlanta elder law attorney.

Pyke & Associates, P.C. is a member of the American Academy of Estate Planning Attorneys.

Most people prepare and execute a Last Will and Testament at some point during their lives. If you have a valid will, you may have signed it, put it in a drawer, and not given it much more thought since then. Life changes, however, often necessitate a review of not only your will, but your estate in general. Specifically, as you age, you may need to consider executing a new will as well as looking into additional estate planning options that will help protect not only your assets, but you and your loved ones.

A will is an excellent way to transfer assets and ensure that specific gifts will be left to specific individuals. A will, however, has a number of legal limitations. To begin with, a will is frequently required to pass through the legal process known as probate when the maker dies. This can tie up assets — both money and property — for months, or even years, in the event of your death if your will is not properly drafted. As you age, you may wish to consider gifting assets to your loved ones instead of waiting for your death. Gifting can drastically reduce the tax obligation as well as avoid probate altogether. Another option may be to create one or more trusts. Property held in a trust is considered trust property and therefore not subject to probate upon your death. You may even be able to set up the trust so that you continue to retain control over the assets while alive, but they pass directly to your loved ones upon your death. An Atlanta elder law attorney can help you evaluate what estate planning tools are best for your situation.

Another consideration as you age is the option to create and execute an advance directive for health care (ADHC). An ADHC allows you to legally decide what medical procedures and treatment you wish to receive or refuse ahead of time in the event you are ever incapacitated and unable to do so. Be sure to discuss this valuable legal tool with your elder law attorney as well.

Pyke & Associates, P.C. is a member of the American Academy of Estate Planning Attorneys.

There is a great plague that is lurking in the shadows in the form of elder financial abuse. This is a big problem in the elder law arena, and the statistics would indicate that it is getting worse.

The fact is that it is challenging to cull enough data to fully understand the extent of the problem. According to the Council on Aging, for each case of elder financial abuse that is reported to the appropriate authorities, five of them take place that go unreported.

There are a few reasons why so many cases are swept under the carpet. For one, sometimes the victims of the abuse are embarrassed at having allowed themselves to be taken advantage of. In other instances the victim simply is not aware that the abuse is taking place. But the most common motivation that people have for not reporting the abuse is because the abuser is a family member or friend.

The MetLife Mature Market Institute recently published a report entitled The MetLife Study of Elder Financial Abuse: Crimes of Occasion, Desperation, and Predation Against America’s Elders. They put the subject under the microscope, and they estimate that in 2010 no less that $2.9 billion was lost due to this plague on our country’s senior citizens. This figure suggests an upward trending because in 2008 an estimated $2.6 billion was lost.

The MetLife study goes on to say that they found that family members, friends and neighbors were the perpetrators in 34% of the cases they could find, but other estimates are significantly higher. Most victims were seniors in their eighties who lived alone, and woman were twice as likely to be taken advantage of than men.

Elder financial abuse is a clear and present danger to people who are reaching an advanced age. To learn how to protect yourself legally, arrange for a consultation with a savvy, licensed Henry County elder law attorney.

Pyke & Associates, P.C. is a member of the American Academy of Estate Planning Attorneys.