Why Use A Trust?

To keep affairs private.

Trusts avoid probate, guardianships and conservatorships.

Probates are public record.

Avoid or minimize estate taxes.

• In case of illness, incapacity or death, all financial and business matters will be taken care of by your successor trustee according to the instructions that you have put into the trust’s language. There is no need for a court appointed Conservator.

 

• People create charitable trusts to transfer highly appreciated assets into a trust where there is no capital gain taxed to them when it is sold, and they can receive the income from the trust for their lives. At the end of their lives, the trust goes to their designated charity named in the trust.

 

• Create a trust to hold and manage funds for a disabled family member. For example a grandchild may have disability and you want to provide for them for their lifetime. The trust can be written so that the trustee takes care of their needs. If they are on SSI, a special needs trust can be created so that it does not disqualify them from those benefits.

 

• Create a trust for a spendthrift child to take affect at your death. Maybe one of your children doesn’t manage their finances very well. Will they mismanage their inheritance? Will it be gone in a year or less? Or perhaps that adult child has a boyfriend or husband you don’t trust and they might spend all the money. You can leave your child’s inheritance in trust for them for their lifetime or until they reach a certain age. The trustee has discretion to pay out sums of principal for their basic needs such as health, support and maintenance.

 

• Education Trusts. You can leave funds for your grandchildren’s education. The trust spells out the criteria for them to receive funds to pay for college education and states when the balance of the trust will be paid to them.

 

• Trusts are sometimes created to hold your children’s inheritance until a time you state it will be paid out to them. The trust can pay them income monthly, and distribute a certain percentage every few years or pay out all at once when they reach a certain age. You determine the terms stated in your trust.

 

Article Provided by:
Libby Crom, Fiduciary & Asset Management, LLC
(503) 409-0542
www.HeritageFid.com

Copyright © 2008 RetirementConnection.com. All rights reserved.

Oregon Launches New Long-Term Care Insurance Partnership

The State of Oregon is easing the financial burdens of aging for many elders by initiating a new Long-Term Care Insurance Partnership Program with private insurers. The new program, which began January 1, 2008, will benefit about 25 percent of the seniors in Oregon who are of modest or limited income.

It will erase one of the biggest fears that modest income seniors have–that they will have to spend down to their last $2000.00 before the federal Medicaid program will pick up the cost of their nursing home care. The new Partnership Program will make it possible for seniors who qualify to preserve some of their assets to pass on to their heirs.

Along with the benefits of increased longevity in our county, have come the greater likelihood that a person will need some type of long-term care in their old age–in fact, 60 percent of Americans will need that care during their lifetime. And that can take a wallop out of a person’s savings. In Portland, the average cost of a year in a nursing home is about $60,000, and that is expected to double in the next 15 years.

As our population ages, and the huge baby boomer generation begins to retire, government resources will be squeezed. That is a big reason the federal government is encouraging Americans to take personal responsibility–for themselves and for the elderly members of their families–by planning ahead for the care they will need in their old age.

Many middle and upper income Americans are taking out long-term care insurance policies to help pay for the care they will need later in life. The new Long-Term Care Insurance Partnership Program that Oregon is launching January 1st is an important step in offering coverage to Oregonians of limited means.

A key feature of the new program, in addition to Medicaid asset protection, is inflation protection. The State also sets consumer protection standards and makes sure that seniors cans choose a policy that best meets their needs. Both the state and federal government will provide educational resources to let seniors know who qualifies for the new Partnership Program and how to find a participating insurance provider.

Seniors and their families can contact a Long-term care Specialist to learn more about long-term care options available.

Article Provided by:
Becky Wehrli, CLTC, (503) 758-5725
Suzanne Webster, (503) 639-5286

Copyright © 2008 RetirementConnection.com. All rights reserved.

Care for Advanced Parkinson’s Disease

Parkinson’s is a chronic, progressive neurological illness. Frequently changes and decline occur at such a slow pace that families are caught unprepared when their loved one loses their ability to live independently.

Symptoms of advanced Parkinson’s include tremor, stiffness, slowness and difficulty with fine movements, impaired balance, soft speech, reduced facial expression, drooling, “freezing” while moving and sleep disturbances. It is important to stress that Parkinson’s is not a mental disease, although roughly 1/3 will eventually develop dementia.

Medication is the most effective treatment for Parkinson’s. Symptoms differ in each person so dosage and timing tend to be geared to the individual patient. Medication must be given on time according to the schedule that has worked well for the family and has been set by the treating physician.

• Medication timing is the most important way to minimize symptoms.
• Know which medication should be given with meals and which on an empty stomach
• Dressing and eating could be scheduled around medication timing

Balance and Posture Exercise (especially stretching) is essential therapy and easiest to initiate when your loved one is rested, but watch for “freezing”, a sudden inability to move, especially when walking or getting out of a chair.

• If freezing occurs, do not push/move your family member, but use visual or auditory cues to initiate movement
• Avoid prolonged standing and to use appropriate walking aids
• Patient should be encouraged to keep hands free when walking, to pause before getting up, and to avoid pivot turns

Eating A failure to swallow properly can lead to choking which is a symptom of swallowing problems. To allow optimum nutritional intake, be sure the Parkinson’s medication has been given time to take effect before a meal.

• Patient should sit in an upright position when eating, and may need reminded to swallow
• Consult a dietician for easy-to-swallow foods containing enough fluid and fiber
• Encourage a rest period before meals

Other Tips

• Allow time to do activities without being rushed and allow frequent rest periods
• An occupational therapist can provide practical tips to make routine easier
• Medication given on time and early enough may allow patients to be more mobile and responsive
• Parkinson’s is a progressive disease. It is a given that a care needs will need to be reevaluated over time

Article Provided by:
Holly Chaimov
Parkinson’s Resources of Oregon
(503) 594-0901
www.parkinsonsresources.org

Copyright © 2008 RetirementConnection.com. All rights reserved.

Telephone Assistance Programs

In 1987, Oregon Legislature passed a law to assure that adequate and affordable residential telephone service is available to all qualifying Oregonians. Based on that legislation, the Public Utility Commission of Oregon implemented three programs which are supported by a surcharge applied to the monthly bill of each retail subscriber who has telephone or cellular service with access to the Oregon Telecommunications Relay Service:

Telecommunication Devices Access Program (TDAP) – Loans adaptive telephone equipment at no cost and with no income restrictions to eligible Oregonians who have a severe hearing, severe speech, vision, cognitive or mobility impairment and cannot benefit from the use of a standard telephone.

In order to receive the equipment, a simple application must be completed and submitted for approval. Qualifying customers are required to complete and sign Section A of the application available in English and Spanish. Depending on the nature of the individual’s disability, a licensed physician, hearing aid specialist, audiologist, speech-language pathologist or vocational rehabilitation counselor must complete Section B certifying that the person requires adaptive equipment in order to communicate on the telephone.

E-mail: puc.tdap@state.or.us

Oregon Telephone Assistance Program (OTAP)/ Link-Up America Program – Oregonians who receive one of the following qualifying benefits may receive up to a $13.50 reduction in their monthly bill for local residential telephone service.

• Food Stamps
• Temporary Assistance to Needy Families (TANF)
• Supplemental Security Income
• Certain State Medical Programs or Medicaid

The Link-Up America Program helps qualified individuals by paying for one-half (up to $30) of the line connection charges for new residential telephone service.  There are approximately 33 residential telephone companies and 4 cellular companies that participate in OTAP. Customers can complete or download applications online available in Spanish, Russian and Vietnamese.

E-mail: puc.odap@state.or.us

Oregon Telecommunications Relay Service (OTRS) – As required by the Americans with Disabilities Act (ADA) is a telephone service that is available for all Oregonians and provides telecommunications access that is functionally equivalent for persons with and without hearing or speech disabilities to communicate via the telephone. It operates twenty-four hours a day, seven days a week and 365 days a year.

There are several forms of the OTRS available depending on the needs of the user including Captioned Telephone Service, Voice Carry Over, Hearing Carry Over, Speech to Speech Relay Service, Shared Non-English Language Relay Services and Text-to-Voice TTY-based Relay Service.

For additional information about the telephone assistance programs, contact the Public Utility Commission of Oregon Monday through Friday, 8 a.m. to 5 p.m. (contact info. below).

Article Provided by:
Public Utility Commission of Oregon
550 Capitol Street NE, Suite 215, P.O. Box 2148, Salem, OR 97308-2148
(800) 848-4442, (800) 648-3458 (TTY), (503) 378-6211 (Videophone)
www.rspf.org

Copyright © 2008 RetirementConnection.com. All rights reserved.

Getting Older – What You Need to Know, The Basics About Planning Ahead

Enjoying retirement, traveling, spending time with family or exploring new activities and interests are part of growing older. But age can also bring with it anxiety and worry and some unique concerns about health and well-being and taking care of family. These concerns are usually grouped together in an area of law known as “elder law”.  The following is a thumb-nail of topics that an elder law attorney can help with.

Estate Planning

Estate planning is really caring for your loved ones, seeing that they are provided for, and making sure your property is distributed according to your wishes. This can be accomplished through a variety of techniques, including wills and/or living trusts.

Durable Power of Attorney

A person can appoint someone else to manage his financial affairs if he is unable to do so. This Durable Power of Attorney is a preferred way of providing for the proper management of one’s financial affairs in the event of incapacity.

Advance Directive for Health Care

A person can give health care instructions to his physician and name a person to make health care decisions, such as the selection of hospitals, doctors or type of medical treatment, if he is unable to make those decisions for himself. This is called an Advance Directive for Health Care. This document also allows a person to give specific instructions about life support measures.

Guardianship & Conservatorship

If a person becomes incapacitated and has done no advance planning, the only legal means by which even a family member can take care of that person is to petition the court for the appointment of a guardian and conservator. This process is an ongoing and court controlled proceeding that is time consuming and expensive. It is the least desirable way of property and personal management.

Medicaid

Medicaid eligibility rules are complex and ever changing. Strategies for long term care planning and asset protection are always in a state of flux. An elder law attorney can guide you and your family through the many challenging issues that arise as life circumstances change.

When the End Nears

Healthcare crisis management is one of the biggest reasons people seek out an elder law attorney.  But, the best time to find an elder law attorney is before a crisis. Advance planning avoids many problems, and helps achieve peace of mind for yourself and your loved ones.

Article Provided by:
Kathy Belcher, McGinty & Belcher, Attorneys

Casting for Recovery – Coping & Moving Forward

Brookdale Senior Living and Casting for Recovery have teamed up together to assist women of all ages, and at all stages of treatment and recovery from breast cancer to learn new skills in coping with the diagnosis and providing help in moving forward to a healthier life.

Brookdale Senior Living, industry-leading owners and operators of senior living communities, has raised approximately $13,500 to date for Casting for Recovery, a national non-profit organization which supports women recovering from breast cancer in a program that combines instruction in fly-fishing, counseling, and medical information to build a focus on wellness instead of illness. Ten thousand dollars of this amount is a matching donation made by Consonus/VitaLife, Brookdale’s pharmaceutical partner for the Northwest region. Brookdale’s goal is to raise $100,000 in 2010 for Casting for Recovery.

In addition to fundraising events, Brookdale is working with local Casting for Recovery contacts in each region to form personal connections between residents and associates.  Local Casting for Recovery volunteers or fly fishing club members assist and connect with each community and its residents who embrace the cause, including casting sessions with associates and residents.

“We have found the relationships between residents and members of Casting for Recovery have been very beneficial to our residents,” said Sheila Garner, division vice president of operations for Brookdale Senior Living. “For both residents and associates, it helps fulfill the purposeful dimension and gives an opportunity for leading an Optimum Life.”

A way of life offered exclusively by Brookdale Senior Living at its communities for residents and associates, Optimum Life® focuses on six key dimensions – emotional, intellectual, physical, social, spiritual and purposeful.

For more information or to pledge a donation, visit one of Brookdale’s 12 communities throughout Oregon, or go to www.brookdaleliving.com or www.castingforrecovery.org.

Cooking For A Cure

It’s a fact. The lifestyle choices we make can dramatically influence our likelihood to prevent or deter the progression of cancer and other chronic diseases. Registered Dietitian Sarah Fronza says the recipe is simple. Eat plants. Manage stress. And get moving.

According to the Oregon Partnership for Cancer Control’s Breast Health Task Force, by the year 2030, 1 in 2 men and 1 in 3 women will be diagnosed with some form of cancer over the course of their lifetime. The American Institute for Cancer Research estimates that overall, about one-third of cancers could be prevented by maintaining a healthy weight, focusing on a low fat plant based diet, and exercising at least 30 minutes a day.

“We all have a choice in this,” says Fronza.

“It’s not only those with family history that should be concerned about chronic diseases such as cancer, heart disease, osteoporosis and diabetes,” says Fronza. “Everyone can benefit from a healthy diet and regular exercise.” For cancer survivors, the benefits are even greater. “Cancer survivors are at increased risk for second cancers,” says Fronza. “Taking steps to reduce the odds of recurrence can greatly improve a survivor’s quality of life.”

Though the tenants to living healthfully are simple, people often need help in figuring out just how to do it. Exercise is often the easiest place to begin, since any movement at all is beneficial. Nutrition guidelines are however, sometimes more difficult to unravel.

“The field of nutrition progresses rapidly,” says Fronza. “We know a lot more about what the individual can do to reduce their disease risk just by changing their diet.” Fruits, vegetables, whole grains, and legumes have all been shown to have important nutrients and other disease-fighting substances.”

“I love the idea that people have control over their own health,” says Fronza. “I’m just a facilitator.

Article Provided by:
Sarah Fronza, Registered Dietitian at Wellspring in Woodburn
For more information visit iamwellspring.com or call (971) 983-5200.

Learning A Living

Oregon employers will benefit from the two five year grants the Department of Education awarded to Easter Seals Oregon. These awards could bring in new training and employment resources to Oregon at a time when economic conditions are stressing the capacity of employment and training funds. The project will serve persons living in the Multnomah, Clackamas, Marion and Polk Counties.

These funds will provide job seeking skills, computer training, direct placement services into permanent employment and self employment support to persons over the age of 40 with a documented disability. It also will serve as an important resource to our returning veterans who may no longer be able to work in their pre-service occupations.

The program is actively enrolling clients who desire the outlined services, and meet the program’ eligibility requirements, in addition to employers focused on diversifying their recruitment resources and staff.

Eligibility Requirements
•    40 years and older
•    A documented disability
•    A willingness to fully participate in the program
•    A commitment to becoming and remaining employed

Services
•    Job Search Skills
•    Job Leads
•    Networking Training
•    Employer Presentations
•    Job Placement Training and Development
•    Computer Classes
•    Life Skills Training

For more information:
Multnomah & Clackamas Counties, (503) 335-6161
Marion and Polk Counties, (503) 362-1572

When Is The Right Time To Move?

Most families struggle with this question. Sometimes the answer can be obvious, but it is not always that simple. Everyone wants to maintain an independent lifestyle, but if assistance is needed, it might be time to talk about alternatives.

Watch for these signs:

• Accidental falls due to loss of balance
• Memory lapses are a sign of health issues, an empty refrigerator means your parents are forgetting daily nutrition, and unopened mail indicates memory loss
• Hygiene issues like going days without bathing, piles of laundry, or wearing the same clothes for days
• Loss of interest in daily activities and a decline in socialization with friends and family

What type of community is most appropriate?  When it’s time to find senior housing for your loved one it’s easy to get confused.

Some options are:

• Independent Living provides basic services such as meals, housekeeping, activities, transportation, and social activities.
• Assisted Living is a state-licensed community that gives the basic services independent living provides, but also offers assistance with bathing, medication management, dressing, personal care, and typically have a full time registered nurse, certified med-aides, and caregivers 24 hours a day.
• Memory Care is a state-licensed residential care community that provides personal assistance for those with Alzheimer’s and dementia while maintaining a high level of independence and promoting privacy, dignity, and choice. The memory care program provides a daily structure that allows the residents to maintain their abilities and encourage the use of their remaining skills.

When determining which option is appropriate, ask yourself these questions:

• Do they need help basic activities of daily living such as eating, bathing, dressing, or walking?  If so, then it makes sense to move them to an assisted living community.
• Are they falling?  Falls can result in costly trips to the hospital and potentially put their life at risk if they’re unable to get help.  Independent living community on-site manager(s) monitors falls and are trained to assist a resident in getting up.  Independent living community’s on-site manager(s) have to call 911 if the resident cannot get up on their own.
• Are they experiencing memory loss?  This could be an early sign of health issues such as Alzheimer’s or dementia.  A memory care community has 24-hour staff who are always available for assistance and provide a safe environment for your loved one.

Article provided by Spectrum Retirement Communities, for more information call 888.516.2188 or visitwww.SpectrumRetirement.com

Talking to Your Family About Aging and Incapacity

The next time you have a family gathering, one of the best things you can do for yourself and for your family is to engage everyone in an honest and open discussion about aging and disability planning.  Many adult children and their parents think about the potential for incapacity, but the majority of them never bring up the matter with each other.

Top of the list of worries are money, financial management and health care decisions:

• YOUR FINANCIAL SITUATION

  One of the biggest worries for parents and their children is money.  Parents and children each worry about whether the parents will have enough money so they can enjoy their retirement and, if necessary, pay the costs of long term care.  Maybe this is a conversation you also want to have with a financial planner to make sure you have covered all the bases.  A family discussion about this matter can take the fear and emotion out of this topic for both parents and children.

• WHO WILL HANDLE YOUR FINANCES IF YOU BECOME ILL?

  Decide who you want as your agent to handle your finances if you are incapacitated and how you want your finances managed,  When you have made these decisions, share this information with your loved ones.  And, seek out an experienced elder law attorney who can prepare a Durable Power of Attorney, a document that will specify your wishes and can be used by your agent for bill paying, managing your retirement and insurance benefits, and anything else that may be necessary.

• WHO DO YOU WANT TO HELP YOU MAKE MEDICAL DECISIONS AND WHAT TYPES OF LIFE SUPPORT DO YOU WANT IF YOU ARE SERIOUSLY ILL?

  Discuss these matters with your loved ones and put them in writing in an Advance Directive for Health Care. This document names the person you want  to make and communicate your wishes and addresses your choices concerning what type of medical intervention and life support you want if you are seriously ill.

Make this discussion  a family affair. Get everyone in on the conversation and on board with your wishes. By openly discussing and sharing your thoughts and concerns with your family, both you and your loved ones can learn how to face and plan for the challenges of aging together, without creating undue stress or burdens.

Article Provided by:
McGinty & Belcher
694 High Street NE, Salem, OR, 97301
Phone: 503-371-9636    Toll Free: 800-542-4320