I recently met with “David”, regarding his 88 year-old father who resides in a care facility, is frail, and has advanced dementia. His father requires full time care, and is paying $3,600 in monthly care costs. Unfortunately, his income is much less than his care costs. As a result, David sold his father’s home and used the funds to pay for high-cost care facilities and other types of care.
David failed to make informed decisions and necessary choices regarding his father’s care and his remaining funds. He failed to think about asset protection measures, or get appropriate legal advice. Now, the remaining funds will not be sufficient for the father’s continuing needs.
David explained that he has always felt overwhelmed by eldercare issues, and had his own life problems to deal with. David never took the time to learn the options available to him and his inaction hurt his father’s situation. It was clear that David simply waited too long before asking for help. By failing to plan ahead, David inadvertently “planned to fail” which resulted in the current situation.
We discussed several options, including VA Aid and Attendance benefits which pays $1,758 per month to assist with the care, and Medi-Cal issues. However, if David had sought legal advice before the house was sold, the outcome would have been more advantageous for his father for his long-term care needs.
As adult children or spouses of aging loved ones, it is critical to get the proper information, legal advice and a plan in place. Any diagnosis of dementia, Alzheimer’s, diabetes, TIA or stroke is a call to action. Care costs can bankrupt an elderly person very quickly. Well spouses can become impoverished due to the care costs of their ill spouses. Adult children MUST make the right decisions for their elderly parents — and part of correct decision-making is getting the correct information.
For more information, please visit the Law Offices of Jane McNamara at 661-287-3260, or visit www.janemcnamara.com or www.VAbenefits4seniors.com.