On September 1, 2009, Powers of Attorney in New York State will change dramatically. Both the format and the execution of these documents are significantly different.

Remedies for an unreasonable refusal to accept a properly executed Power of Attorney are limited by the new law to a special proceeding to force the acceptance. Damages are no longer possible.

by Amelia E. Pohl, Esq. and New York Attorney Vincent J. Russo, Esq.

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• How Can I Protect My Assets From Medicaid and Still Maintain Control?
• What Exactly is an Asset Protection Trust?
• Asset Protection Strategies - What if I Need the Assets Back?

Questions for Aging Parents

A recent Real Simple magazine article examines how adult children and their parents can have an open discussion about their concerns, and together face the challenges of aging.  This discussion is often not an easy one to have; a 2001 AARP study revealed that three-quarters of adult children think about their parents' ability to live independently, but one-third of the children surveyed have avoided discussing the topic with their parents.  The results for parents are similar; a little over two-thirds said they think about their ability to live independently, but more than one-third said they do not discuss the subject with their children.  The article provided several conversation-starting questions that adult children can ask their parents.

A Break Thru - On Reverse Mortgages

Seniors want to live at home and independently and why not? In our experience, the most important and valuable asset is one's home. So, how does one protect the home while also accessing Medicaid for long term care and a Reverse Mortgage for living expenses?

Ask The Expert

Thanks to Lynn Brenner of Newsday for her column, Ask the Expert. On November 5, 2010, she responded to a question regarding how to protect mom's home if mom needs Medicaid nursing home care. The daughter informed Ms. Brenner that her mother is 93 years of age, in failing health and her daughter has lived in mom's house since 1995.

Medicaid Home Care - NYC

It has come to our attention that CASA has begun requiring that applicant's applying for community Medicaid coverage need to complete a Resource Verification Attestation form. This form requires that the applicant/representative check off the type of coverage that is being requested.

Medicaid Approved

With DRA, there were significant concerns regarding the Medicaid transfer penalty. Immediately, we focused on exempt transfers and in particular, transfers made for full consideration.

In a recent case in our office, we had a senior ("Mom") seeking Medicaid nursing home care. Mom's daughter had paid for her mother's home repairs and furnishings, medical equipment and medical supplies prior to entering the nursing home. The daughter had used credit cards to pay for these expenses and she had outstanding bills. Mom made payments to the credit card companies over a period of time in excess of one year for the expenses incurred by the daughter.

Many seniors have Powers of Attorney, but do you have the right one? This is a very important question because no one has the right to make financial decisions for you, unless you have legally appointed a person with the authority to act for you.The best way to give that legal authority is by executing a Comprehensive Durable Power of Attorney.

The problem: The will my husband and I drew up names our son as executor. Due to family circumstances, we would now like my husband’s brother to act as executor, not our son. Do we need to redo our will, or can we just sign an addendum with this change and have it notarized?

The expert: Frank L. Buquicchio, elder law and estate planning attorney, Vincent J. Russo & Associates.