"We are assuming that our parents have put things in place for their future.
Don't assume that the glass
is half full!"
Did You Know?
"We didn't then, but we do now."
There is so much involved in managing the care of a loved one that we are not being told about.
Lets dispel the myths about all of this.
Did you know? A Stair chair may be covered by Medicare.
Did you know that wheel chairs are covered under Medicaid/Medicare? Under their medicare, individuals may receive a new transport device once every five years. A transport device is: a wheel chair, a power wheel chair, a walker or a cane. This is a benefit to which your parent may be entitled. Consult with their primary healthcare provider for a script.
Did you know? When making purchases of mobility devices using Medicare/ durable medicare insurance, usually only ONE mobility device is covered per 5 year period. A walker, cane, wheel chair, and scooter are all in the same class. Hospitals and Rehab facilities offer canes and walkers that are paid for by insurances. It makes better sense to just pay the out of pocket cost for the walker or cane and use the insurance to cover the cost of a wheel chair or scooter that range in the thousands of dollars!
Do you consider just having your name on parent's bank account as an Estate Plan? Simply having your name on a bank account, will only give you the ability to manage and access it; while your parent is living. Once they have passed away, it becomes part of the Estate which then goes into probate and only the Executor will have access to it.
Did you know POAs expire? There is an unwritten law and unspoken understanding within the finance world that a Power Of Attorney must remain current. What defines current? This may be a good time to visit with an Estate Planning attorney about it.
Are you considering putting your Parent's home in your name? There may be laws in your state that you may want to be aware for when the time comes to determine their eligibility for medicare and medicaid benefits upon entering an assisted care facility.
Do you know where your loved one has all of their important documents? Today is the day to ask them. Knowing where your parents store these legal documents will enable you to be better prepared for that day when something does happen to them.
Did you know that your loved one may qualify for discounts? Check with the Department of the Area on Aging learn about discounts on transportation services and other care services.