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Resources | Community | Legal Planning | Long Distance Caregiving Project
Legal and Financial Planning
Just as one seeks the assistance of a physician when the patient needs medical care, it is wise to consult with other professionals including attorneys to help you with your legal and financial needs.
Selecting an Attorney
Selecting an attorney who can help you with legal and financial planning is an important first step. A good place to start is to ask for referrals from someone who is happy with an attorney's services or contact the Alzheimer's Association for a referral. After obtaining several names, you will want to interview them over the phone. The areas that you should focus on during the phone interview are the attorney's fees, education, experience, affiliation and familiarity with the area in which you need assistance. Some attorneys charge a consultation fee so make sure that you are aware of this. The following include legal and benefit terminology.
Legal Terminology Important for Caregivers
1. Conservatorship: A court proceeding to appoint a manager for the financial affairs or the personal care of one who is either physically or mentally unable to handle either or both.
2. Guardianship: In California, this term applies only to persons in need of court supervision who are under age 18. In some states other than California, this term is used to mean the same thing as a conservatorship.
3. Power of Attorney: A form signed by a competent individual designating another as agent to make decisions for the individual, and granting the power on the terms and conditions the individual specifies. It is valid only during the lifetime of the individual giving the powers. There are two basic types:
4. Revocable Living Trust: A written document, somewhat like a will, which disposes of an individual's property after death, but allowing for management of an individual's assets during that person's lifetime if the individual creating the trust can no longer manage the trust assets or the individual resigns. The individual must be competent to execute this document.
5. Executor: This is the person who has been designated by an individual in a Will to step in and take charge of things after the individual has died. The powers of the Executor are effective only after the death of the person who designated them as the Executor and the Executor has no power or rights of any kind until that individual's death.
6. Community Property Management: California is a community property state and allows a spouse who is competent to manage the community property on behalf of a spouse who is incompetent without need of a conservatorship or a power of attorney. A well spouse must seek court approval in order to conduct some transactions on behalf of an incapacitated spouse, such as transactions involving real property. Not all states are community property states and assets of a couple held outside the state may not come under these rules.
7. Representative Payee: The designation of another to receive and manage payments from the Social Security Administration on behalf of an incapacitated person.
Benefit Terminology
1. Medicare: A Federal program available to all persons who have paid into the Social Security System for a specified period of time. It covers most medical expenses but does not cover custodial care in a nursing home nor medications.
2. Medicaid (called Medi-Cal in California): A governmental supplement to pay medical insurance. It is like a secondary policy but there are certain financial eligibility criteria. Eligibility rules are complicated and differ based on many criteria including marital status, current living arrangement and state of residence.
3. Social Security: A retirement pension due persons who have worked and paid into the system for a specified period of time. It is based on income earned over time and is independent of the person's current overall financial situation.
4. Supplemental Security Income (SSI): A supplement paid to persons who are considered below the poverty level, over age 65 or disabled. A person receiving SSI automatically receives Medicaid.
For Legal referrals contact the Helpline at 323 938-3370 or 800 272-3900.
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