Walnut Creek Elder Law Blog

According to the Alzheimer’s Association, Alzheimer’s disease affects more than 5 million people in the U.S., and is the seventh leading cause of death in the U.S. today. This disease is expensive for the families of Alzheimer’s patients. And, it is the families who absorb much of the cost of care.

There are government resources available to help pay for the cost of care. The VA Aid & Attendance Improved Pension Benefit for wartime veterans and the surviving spouses of wartime veterans can be very helpful to pay for care. For the single veteran, the pension rate can be as much as $1,644 per month or $19,736 per year. For the surviving spouse, the pension rate can be as much as $1,056 per month, or $12,681 per year. This VA benefit can help pay for the costs of in home care, assisted living facilities and board and care homes.

Another government benefit is Medi-Cal, which can pay for skilled nursing facilities for the Alzheimer’s patient.

Qualification for both of these programs, the VA Aid & Attendance Pension Benefit and Medi-Cal, are asset and income based. Planning for these benefits can be done through your elder law attorney. You should pursue your long term care planning goals, including asset protection, through your elder law attorney as early in the process as possible.

Your elder law and asset protection attorney will update the estate planning documents of the Alzheimer’s patient, provided it is not too late, to include asset government benefits planning, and asset protection language. Thereafter, planning steps are made over time for asset protection and for qualification for these programs.

Michael J. Young, who is an elder law attorney in Walnut Creek, CA, helps many clients with Alzheimer’s disease, and their families, with Alzheimer’s Planning. Elder Law is Alzheimer’s Planning.

Mr. Young is an elder law attorney who represents clients in Concord, Walnut Creek, Pleasant Hill, Brentwood, Antioch, Clayton, Danville, Alamo and surrounding areas.

This blog is for informational purposes only and is not legal advice. You should consult an elder law, asset protection and government benefits planning attorney for your particular case, and before you proceed with any planning.

Written Michael J. Young, elder law attorney in Walnut Creek, CA. www.WalnutCreekElderLaw.com mike@WalnutCreekElderLaw.com. 1931 San Miguel Dr., Suite 220, Walnut Creek, CA 94596. 925-256-0298. Mr. Young serves Contra Costa and Alameda Counties, including the cities of Walnut Creek, Alamo, Danville, Concord, Brentwood, Pleasant Hill, Antioch, Clayton, etc. Mr. Young advises clients regarding Medi-Cal, nursing homes, asset protection, the VA Aid and attendance pension benefit, and long term care planning. Mr. Young is a Concord Elder Law Attorney with offices in Walnut Creek, CA.

Through proper planning from an elder law attorney,  disease is not too far advanced, the

Michael J. Young is an elder law attorney in Walnut Creek, CA.

     Certain assets are generally exempt, or not counted, for Medi-Cal eligibility. The following is a partial list of exempt assets. There are, of course, rules affecting each of these items. As a result, please consult your elder law attorney.

• One automobile is exempt for qualification. Many people think that if they have two cars, they have to sell one to become eligible. This is not true. The second car is counted as an asset, and the value is determined by the Medi-Cal eligibility worker.
• Whole life insurance policies are exempt, provided that they do not have more than $1500 cash in value.  If they do, you must transfer the asset, cash it in, or take other steps to lower the value. Be sure your durable power of attorney has the appropriate elder law/asset protection language in it to accomplish this, in the event you lose the ability to accomplish this yourself.
• You can have term life insurance in any amount.  
• You can transfer monetary assets into an irrevocable final expense trust. This is a good planning technique to lower cash assets for Medi-Cal qualification. When the recipient passes away, the funds can be used at any funeral home in any state. Funds not used are subject to Medi-Cal recovery. Another advantage is that part of the family’s concern about burial plans is taken care of ahead of time.  
•  IRAs, pension funds and work related annuities are exempt. Medi-Cal does have  distribution rules for principal and accrued interest however.  
• $2,000 in cash.  
• Your home is exempt for qualification.  

             By Michael J. Young, elder law and estate planning attorney in Walnut Creek, Contra Costa County, California. Mr. Young’s office is located at 1931 San Miguel Dr., Ste. 220, Walnut Creek, CA 94596. His office number is 925-256-0298 and his e-mail address is LawYoung1@gmail.com. You can go to his web site at www.WalnutCreekElderLaw.com  Mr. Young serves senior clients and their families in Contra Costa and Alameda Counties. He also has many senior clients in Danville, Brentwood, Pleasant Hill, Antioch, Concord, Alameda and surrounding communities. His long term care plans for older clients help families prepare to pay for nursing home costs and to preserve assets. He also helps his clients apply for Medi-Cal and the VA Improved Pension, Aid and Attendance benefit. You may see Mr. Young’s “Nuts and Bolts” Guide to Veteran’s Benefits at the following link. www.walnutcreekelderlaw.com/GuideToVeteransBenefits.html Please check his web site for upcoming seminars.