Gainesville Estate Planning Law Blog

When it comes to living situations for aging adults, there are usually a variety of options available. In some cases, older adults can remain in their home in their golden years. Typically, in order to do this, retired adults will require support from family members or their community for chores and activities they can no longer perform alone.

For those with minor medical issues or who can no longer maintain a home, it is sometimes beneficial to live with children or other family members. For those with serious medical conditions, such as Alzheimer's disease, dementia or other progressive and degenerative diseases associated with aging, residency in a nursing home may be the only safe option for the future.

Georgia residents who are age 65 or older often encounter challenges related to their estate plans or other long-term care planning issues. Many elders also have trouble understanding the various facets of Medicare, often because the programs change from year to year. In some situations, an older man or woman may suffer an incapacitated condition, necessitating support from a younger, healthier loved one to carry out long-term care plans.  

A brief review of the basic ABCs of the Medicare program can provide helpful information for elders or adult children who are doing their best to help their parents. Hospitalizations under in-patient status are what is mostly covered in Part A of the Medicare program. If a person is listed under observation as opposed to in-patient, Medicare may not cover the cost.  

As life expectancy has greatly increased in Georgia and throughout the nation, it is quite possible that an elder may live beyond 90 or 100 years. The estate planning process is a valuable tool for elders who wish to protect their assets and also provide for their own long-term care. There are several issues to keep in mind to avoid some of the most common errors people make when filing the documents of their estate plans.  

Many elders implement living trusts. However, some fail to fund the trust, which can create problems down the line. If the trust is not made the legal owner, assets may ultimately be subject to estate tax and probate. 

A brief survey of Georgia residents age 65 and older would likely result in similar answers if participants were asked about the benefits and downsides of aging. Some would like say that they are more comfortable in their own skins and do not worry about many things that caused them stress when they were younger. Then again, many may also relate to various challenges senior citizens often encounter, from physical mobility problems to legal issues such as estate planning or long-term care.  

If you are an elder who has an adult child or children helping you plan for your future, they may be a great asset, especially if a time comes when you must transition to assisted living or nursing home care. You may also face problems regarding Medicaid, Medicare or asset protection. Various state or federal laws may have an impact on your situation.