Advance Dementia Directives – A Crucial Element in Estate Planning
In the realm of estate planning, it's essential to consider not only the distribution of assets but also the potential challenges that may arise in the later stages of life. One such challenge is dementia, a progressive condition that can significantly impact an individual's ability to make decisions. At Botti & Morison, we understand the importance of addressing these concerns proactively. We provide our clients with a cutting-edge, state-of-the-art Advance Dementia Directive in addition to an Advance Health Care Directive. They are two critical but separate and distinct custom-drafted legal documents. Our Advance Dementia Directive is a powerful tool that ... Read More
The 4 Signs: How to Detect Elder Financial Exploitation
Scammers have zero remorse for elder financial exploitation. They take advantage of people’s good intentions who believe they are donating to help those in need. Auto call lists easily identify older victims and the ubiquitous online world of emails, fake mirror websites, disingenuous GoFundMe pages, and postal mail scams are everywhere. Not everyone is aware of how to detect financial elder exploitation. These scams may seem obvious to many people, but it affects millions of people every year. Fraud perpetrators know how to target people who are less likely to pick up on the signs of a scam. We often ... Read More
Six Important Questions When Planning for Retirement
Almost everyone dreams of retiring one day. Planning for retirement can be done no matter your age, but experts encourage people to start as early as possible. Retirement planning can seem daunting for many people as they focus on day-to-day financial obligations. Many people have no idea where to start. Below are six simple questions that can help people of any age plan for retirement. What does retirement look like to you? This is an essential question to ask when planning for retirement. Begin by jotting down your ideas and if you’re married, include your spouse’s ideas for retirement. Maybe ... Read More
The Rising Tide of Caregiving Costs: Navigating the High Price of Longevity
In an era where medical advances and improved living conditions have led to longer lifespans, the aging population faces a new challenge – soaring caregiving costs. The emotional, physical, and financial toll of caring for elderly loved ones has become a significant concern for many families. As the demand for long-term care continues to grow, families are grappling with the daunting reality of expenses that can easily surpass the million-dollar mark. In this blog post, we will explore the rising tide of caregiving costs and shed light on the challenges faced by families when taking care of their aging relatives. ... Read More
Can You Take Your Social Security Benefits Early if You’ve Been Laid Off?
If you are close to retirement age and recently lost your job, there is a good chance you may not find work again. The Great Recession (2007-2009) saw workers aged 62 and more were about half as likely to become re-employed compared to those in the age group of 25 – 34. The Becker Friedman Institute for Economics at the University of Chicago found that more than four out of ten jobs lost during the COVID-19 pandemic may never come back, pushing many pre-retirees into early retirement. For many, this means an unexpected shortage of cash. As retirement can last ... Read More
Caregiving From Afar – Things To Consider
Long-distance caregiving is defined by the National Institute on Aging (NIA) as providing care for someone who lives an hour or more away. This type of caregiving takes many forms – from arranging for in-home care, money management, bill paying, and information coordinator. You may also provide respite care for a primary caregiver, conduct safety reviews, create emergency plans, or any combination of these tasks. Legal publisher Nolo cites more than seven million adults in the US acting as long-distance caregivers for elderly parents or relatives. The Key To Succeed The greatest success in long-distance caregiving happens when there is a ... Read More
Caring for Aging Parents Need Not Split Siblings
As our parents age, it's common for siblings to come together to provide care and support. However, this can also be a time of conflict and tension. Differences in opinion, financial strain, and other factors can cause siblings to argue and become divided. But caring for aging parents need not split siblings. By taking the following steps, siblings can work together effectively and provide the best possible care for their parents. Communication is Key Open and honest communication is essential when caring for aging parents. Siblings should sit down together to discuss the situation and come up with a plan ... Read More
How to Choose the Right Guardian for Your Children In Case of Death
A parent’s first responsibility is to secure the health and wellness of their children. Still, many parents delay the decision to appoint a legal guardian for their kids in case of incapacitation or death. While death, illness, and other situations are cumbersome topics that many people avoid, they are important to consider. Passing away and leaving behind minor children is something no one wants to consider. However, the consequences of not making guardianship plans can have long-term, devastating consequences. For example, your child may be sent into foster care and have an uncertain future. Planning for the care of their ... Read More
A Guide for Dementia: Communicating Feeding and Other Wishes
Many of us have experienced the pain caused by Alzheimer's and dementia. In the final stages of these cognitive diseases, the individual may no longer speak, recognize loved ones, or move purposefully. Not everyone has a plan for dementia and Alzheimer's. It is crucial to have conversations and a plan for end-of-life care. When quality of life declines, many choose to stop hand-feeding and hydration and allow the dying process to begin. Suppose the person no longer has an effective way to be heard. In that case, institutions, where such people are usually confined, are legally and morally obligated to continue ... Read More
Become Familiar With Your Parents’ Aging Strategies Before a Crisis Occurs
In the US, many adult children live a long distance from their parents. Managing aging parents or in-law medical events can be a serious challenge without proper preparation and understanding of what your parents' strategy may or may not be, no matter where you live. Do you know what legal documentation your parents have in place regarding their medical care? Do they have Advance Health Care Directives that can help guide your medical decision-making process? Similarly, do you know what legal documentation your parents have in place concerning financial management? Do they have Durable Powers of Attorney that can help ... Read More
There Is a Decrease in Telehealth Coverage Among Health Insurers
Hospitals and health systems worldwide faced unprecedented challenges after the 2020 Coronavirus pandemic. There has been a need to increase and safeguard healthcare staff as well as non-COVID-19 patients, testing and treating infected patients, expanding critical care unit capacity, procuring personal protective equipment (PPE), and canceling non-emergency patient procedures. The American Hospital Association estimates that healthcare systems are losing an average of 50.7 billion dollars a month. This financial crisis is jeopardizing the telehealth industry as insurance groups seek to lower rates for virtual appointments. Without payment parity equivalent to an in-person appointment, many health care systems will be unable ... Read More
Drastic Updates to California’s End of Life Option Act
California is one of only five states in the United States that offers medical aid in dying to the critically ill who qualify. The End of Life Option Act was signed into California legislature on October 5, 2015. The law was enacted in June 2016, thereby officially allowing terminally ill adult residents to access medical aid in dying by self-administering lethal drugs, provided certain prerequisites were met. Although the new legislation granted immense relief to many, it also contained numerous “safeguards” that became major obstacles for patients eligible for medical aid in dying. Patients who met the criteria for California’s ... Read More
