Author Archives:

Spring Cleaning during March madness

 

JM Megail Gaumer

 

While the NCAA tournament probably tops spring-cleaning in the “fun department” why not take a page from basketball’s play book?  We have all seen the tournament brackets and how the winner advances from round to round then finally to the sweet 16 and then the final four.  Approach your spring-cleaning projects in the same fashion.  Start small, tackle one area and move to the next until finally you are down to your larger more difficult areas.  You will feel such a sense of accomplishment from the smaller tasks that finishing the major area will be a breeze.  

 

While you’re organizing and cleaning your home its also the perfect opportunity to organize your life.  Don’t get side tracked but find an empty box or tote and as you come across papers that need your attention put them in the box.  Come back to evaluate the papers when you are done with your cleaning projects.  Some items in your box should include; your Last Will and Testament or Living Trust, Healthcare documents, Powers of Attorney, IRA/401k beneficiaries, to name a few.  When was the last time you reviewed these items?  You should review such documents every 3-5 years.  

 

While we won’t have a staff member from our team come to your home to make your bracket picks or wash the windows for you, we will have an attorney available to your for any questions with respect to “your box”.  Please call us at 800-798-5297 to schedule a review.

Scam Prevention

 

By Angie Hall

 

My mother recently received a phone call telling her she won a $2.5 million dollar prize in a contest from Las Vegas that she signed up for at Walmart. The caller indicated that he was verifying information so that they could then forward her a check. All he needed was her address and a $700 check or her credit card number so that he could process the winnings and forward them to her. 

 

Thank goodness she knew from the get go that this was a scam and she immediately hung up on the caller. Seniors are typically more vulnerable to scams and should take care to protect their vital information.

  1. Avoid Solicitors – be very skeptical of strangers who call out of nowhere or show up at your door trying to give away something “free”. Just hang up or shut the door.
  2. Hesitate to give out personal information over the phone or on the internet – social security number, bank account information, or credit/debit card number. Legitimate companies will not ask for this over the phone or internet.
  3. Monitor your money – really look over your bank statements and credit card statements.

If you are not sure or if it sounds to good to be true it probably is.

Medicaid Standard Utility Decrease

 

By Heather Chapman

Effective April 1, 2012, the Ohio standard utility allowance applied for determining benefits for Medicaid and Food Assistance will decrease from $599 to $533 per month. This applies mostly for determining the monthly allowance for the community spouse when the other is institutionalized. This change will affect current and future eligibility for food assistance, nursing home and waiver cases, but will mainly just mean an increase in the patient liability that the institutionalized person must pay each month. For anyone that has a case affected by this change, a notice should have already been sent out for those that the mass automatic change caught, all others will go through a manual desk audit and have notices sent out no later than March 14, 2012. Food assistance cases should only experience a decrease in the amount that is received for the Ohio Direction Card.

The utility allowance was originally increased when the the cost of utilities was high and people were struggling to keep their bills paid. Even though gas prices and utility fees have steadily increased since 2009, the decrease was passed to help tax payers and not the individuals needing the assistance.

As of January 1, 2012, the Social Security cost of living increase of 3.6 percent was a long awaited relief for the more than 60 million Americans struggling to make ends meet. The first automatic increase since 2009. Now for Ohio residents receiving Social Security, the much needed income will be offset by the decrease in the utility standard providing little help in today's economy.

The requirements and standards for eligibility continue to change and will become a long term point of contention with politicians in ways to balance the budgets. Their solutions for the future is leaning towards massive Medicaid cuts. In order to help your long term care and planning for yourself or your loved ones, seek the advice of a legal professional, particularly one with elder law experience, who is equipped with the knowledge and updated requirements for Medicare eligibility.

Iditarod

 

Brook Curtis

 

On March 3, 2012, 66 men and women along with their dogs took off for “The Last Great Race.” It is the 35th running of the Iditarod, which takes place in Alaska beginning in Anchorage and ending in Nome. The men, women and sled dog teams will travel roughly 975 miles through Alaska terrain with 26 different checkpoints. 

 

At each checkpoint the mushers have the option to rest for the night or continue through. If they choose to stop, there are medics available for the mushers and/or their dogs. Dogs are continuously fed and warmed throughout the course at many of the checkpoints. The race will last approximately 2 weeks for all the teams to complete the trail. Martin Buser, who in 2002 completed the race in 8 days, 22 hours, 42 minutes and 19 seconds, holds the current record for the Race. A Red Lantern award is given to the musher that crosses the finish line last. 

 

A Junior Iditarod is held before the race, which lasts about 2 days. This year the race was won by Conway Seavey, whose brother, father and grandfather are all competing in “The Last Great Race.”

 

For more information and to check the progress of the teams visit: http://iditarod.com

Navigating the Life Insurance Offers

 

By Tonya Smith

 

Each month, utilities companies pack their envelopes with “Valuable Offers” and I always throw these away without giving any thought to what these offers are.  Today was different; I took the time to glance at each of these offers and discovered the following:  

 

Why would anyone pass this offer up? Is there a catch? After the initial $1.00 purchase, it appears the monthly rate is $3.49 for Adults. Still doesn’t seem like an unreasonable offer does it? Wanting to know more, I googgled the company. They have been in business since 1951. Globe Life is rated A.M Best Company and awarded Globe Life an A+ based on their latest analysis of financial strength, management skills and integrity. I went to the website they provided with the mailing, clicking on the “more information” and “sample policy” tabs, I was eventually directed to Contact Customer Service where I could submit my name, address and contact information. I could have just signed up for another mailing list but I halted!

Fortunately, here at the Financial offices of Cooper and Adel Financial Agency, we have a team of experts that can help you navigate these offers and explain in detail exactly what these offers may or may not provide for you. A high percentage of time, these offers will not supply you with the necessary coverage and insurance you want to leave your family. Please feel free to contact our offices to discuss your needs and any new policies you are contemplating. And rest assured, we will not sell your name to a mailing list company, nor flood your mailbox with useless information. 

Another Choice for Medicaid Spend Down Protection: Principal Protection Trusts

 

By Attorney Daniel Vu

 

It is my firm belief that not every client requires the same solution. Too often attorneys and financial planners propose the same plan for every client regardless of a client's real concerns and economic reality. It is important for us as elder law planners to provide options tailored to an individual's situation. 

 

The Principal Protection Trust is an example of one of the options that we can provide for clients. It can be the better solution to protect certain family assets from a Medicaid spend down. In a Principal Protection Trust the principal but not the interest is protected. That means the client may have complete and direct access to the income generated from the assets in the trust but the actual asset itself will not be subject to a Medicaid spend down. This type of trust is supported by federal statute and by most states. Ohio is one of the states that have allowed this type of trust and our own law firm, Cooper, Adel & Associates, successfully argued an Administrative Appeal on a similar trust. 

 

Of course, with all this said, the Principal Protection Trust is only one option in the toolbox. It too is not a one size fits all solution. If you desire protection from the catastrophic costs of long-term care, see a qualified elder law attorney who will tailor a solution to your specific situation.

Outdated Ohio Laws

By Bethany Smith

There are many outdated laws still on the books in many states. In Bay Village, Ohio it is illegal to walk a cow down Lake Road. It is also illegal in Ohio to participate in a duel and to fish for whales on Sunday. Of course working with Cooper, Adel and Associates where we encourage our clients to “get your ducks in a row”, the one that caught my eye was that in McDonald, Ohio your duck may not parade down Ohio Avenue. While these outdated laws are silly, they are not complicated to understand. However, when it comes to laws regarding estate planning people often become overwhelmed with the prospect of protecting their estate and many times just say “Let the kids deal with it”.  Not a good plan!

 

Cooper, Adel & Associates is here to make sure that your estate is protected and that it goes to whom you want without losing it all to death taxes.  Contact us to get your ducks in a row, just remember to not to let them parade down Ohio Avenue.

Who is a Caregiver?

 

By Michelle Mason

 

Do you help an older or disabled adult with housekeeping, shopping, 

meal preparation, transportation, paperwork, or personal care? If so, you are a caregiver.  Many caregivers do not identify themselves as such.

 

They find themselves in a new world for which they are unprepared. The stress is compounded when caregivers have other responsibilities, such as children and work.

  

Facts:

Many older adults, who live by temselves find new friends and new experiences to keep connected with life once they become residents in adult facilities. 

The quality of care will improve in many adults, because they are receiving regular Medical services and 24-hour care provided by a Nursing Home, or Assisted Living facilities. 

 

Experienced caregivers eventually learn two vital lessons:

  • Help is available –seek it out and use it.
  • Take care of yourself, or you will be unable to take care of anyone else. 

Caregiver Tip 

 

Moving a loved one into a Nursing Home is an act of Love, not a denial of duty. 

 

To apply for Medicaid to pay for the Nursing Home or Assisted Living Facility, the applicant must meet certain requirements.  Adult children are often afraid to interfere in their parent’s financial affairs.  Parents are often sensitive about letting their children “get into their business”.

 

” It is important to get organized and create a plan for the future!  Call Cooper, Adel & Associates for a free consultation.

Vacation Checklist

 

By Roy Whited

 

The list and the information below was taken in part from a pamphlet that was provided by the staff of the Licking County Sheriff's office, Randy Thorp, sheriff.

 

“Preparing for a vacation or an unexpected leave from your home can sometimes be an exciting or hectic experience.  A residence that is vacant or appears to be vacant is always a potential target.  Burglary is a crime of opportunity.”

 

Check these a few days before you leave:

  • Contact your Sheriff's Office to request a house check.
  • Leave a key with nearby friends and family and ask them to check on the residence while you are away.
  • Exchange phone numbers with friends, neighbors, and family to stay in contact with them if needed.
  • Make certain that all expensive outdoor equipment is locked in a basement or garage.
  • Check that all windows and doors can be locked properly.
  • If applicable, make sure residential security alarms are working.  Send a test signal to the alarm company.
  • Check that all outdoor lighting is operational.  Fix or replace what is not working.
  • Inform US Postal Service and newspaper delivery services that you will be out of town and have them place a hold until you return.
  • Secure valuables in a safe or bank safety deposit box.  Deposit any extra cash/checks.

 

Make sure any time settings for lighting, televisions, or radios are working properly.

 

While you are in the mood to check on things, take time to check your legal documents to make sure they are up to date.  

  • Are your Powers of Attorney for health care HIPAA friendly?
  • Are your Powers of Attorney for business and financial matters adequate?
  • Do you need to make any changes in the distribution of your estate?
  • Have you taken the necessary steps to protect your home and your money from being lost to the cost of long term illness that requires a nursing home stay?

 

If your answer to any of the above was no, why not call Cooper, Adel, & Associates and schedule a free one-hour consultation?  Call 1-800-798-5297

Orbiting Earth: 50 years later

By Dolly Wilkerson

When we moved to Wapakoneta, Ohio 5 years ago we didn’t realize at first that it was the home of one of the legendary astronauts, Neil Armstrong. Since then we’ve learned a lot and become arm chair followers of the space program. Ohio seems to be somewhat of a “hotbed” for astronauts. Prior to moving to “Wapak” we lived in the Canton, Ohio area and found out that John Glenn was from a nearby city, New Concord, and they held an annual celebration in his honor.

There are a lot of things going on in Ohio that most people don’t realize. For instance, did you know that there are 24 astronauts from Ohio? Can you name them?

50 years ago, we were practicing bomb raid drills and hiding under desks and learning about the “Cold War”. We were young but we were taught about the very terrible possibilities of a war with the Soviets. We were also very aware of the “space-race” and we knew the names of all of the astronauts. They were our national heroes and we all looked up to them. 

We knew also, that we were behind and the Russians were first into space. I remember JFK’s challenge to beat the Russians in a passionate speech that set the direction for NASA for the foreseeable future. It was 50 years ago February 20th that John Glenn heard the call and became one of our first space-race heroes by orbiting the Earth not once but three times to take the lead in the race away from the Soviets and secured the U.S. as a legitimate Superpower.

On the 50th anniversary of his historic space flight, former U.S. Sen. John Glenn spoke at Ohio State and offered memories of the space program’s earliest days and his hopes for its future. He was there to promote the NASA Future Forum and expressed his disappointment with the cancellation of the space shuttle program.

“I just think it’s very unseemly for our nation, and I don’t like it,” Glenn said. We are currently forced to hitch rides into space with our former arch-enemies, the Russians aboard their Soyuz spacecraft.

Fortunately, the space program isn’t completely dead. We are building a new generation of rockets that will be ready to take us back I to space by 2017. Bolden said that he is hopeful that private U.S. companies will be able to pick up the slack and construct rockets to be used by a new generation of NASA astronauts. Plans call for having a U.S. space vehicle by 2017.

“We need to use our own resources to get back into space. We need to rely on ourselves and not on a foreign partner” said NASA chief administrator Charles Bolden.



Related Posts with Thumbnails