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Nursing Home Bound?
Change Your Estate Plan!
If a loved one is nursing home bound, it is imperative that you
re-visit your estate plan.
1. Your Will: If your Will leaves part of your estate to a
nursing-home bound loved one, you will need to dis-inherit that person
to the extent permitted by law. You will need to engage an attorney in
your state because the rules of disinheritance can be very state-specifie.
2. Your Power of Attorney: most Powers of Attorney we see are very
anemic--only 2-3 pages long. This is not to say that these Powers of
Attorney are "wrong" or "legally incorrect."
We feel, however, that they cover only a few bases when there are a
multitude of areas of exposure. Our Power of Attorney is nearly 30
pages long. It goes without saying that you should avoid down-loaded
forms or pre-printed instruments found in stationary stores. In order
to cover all areas of exposure, see an attorney who is totally versed
in all aspects of Medicaid planning.
Another factor: definitely change your Power of Attorney if it names
the nursing home-bound loved one as your agent.
3. Your Living Will and Healthcare Directive: make certain that the
format your hospital or attorney uses will be viable beyond state
lines. Your loved one may be hospitalized out of state due to the fact
that the medical specialist will be located there.
Additionally, your loved one may be hospitalized while on vacation or
traveling in another state.
In addition to naming healthcare agents to act for you (if you can't
act yourself), our Living Wills contain FOUR DIFFERENT MEDICAL
SCENARIOS for someone to consider. Under EACH scenario, we ask the
person to make decisions on hypothetical medical procedures.
Once again, many documents we review are too general and vague.. They
cover only a few bases when there are numerous other areas of
exposure.
New Jersey allows a very general witness acknowledgment. Other states
require a witness to make several statements, in affidavit form, to
give the Living Will and Healthcare Directive more clout. |
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James E. De Martino is licensed
to practice in the State of New Jersey.
We specialize in NJ Medicaid and Asset Protection legal services. |
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