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Scott & Huff, P.C. 1000 S. Garfield Ave. Suite 3 Traverse City, MI 49686 (231) 933-5322 |
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What is Elder Law? Elder
law has developed as families face financial, health and care issues as we
age. Traditional estate
planning has focused on transferring wealth at death and minimizing estate
taxes. Longer life
expectancies, many with chronic illnesses, require us to revisit how we
plan our estates and give more thought to planning our estates during our
lifetime, and not just after death. The National Academy of Elder Law Attorneys describes Elder Law as a holistic approach to law. "Under this holistic approach, the elder law practitioner handles general estate planning issues and counsels clients about planning for incapacity with alternative decision making documents. The attorney would also assist the client in planning for possible long-term care needs, including nursing home care. Locating the appropriate type of care, coordinating private and public resources to finance the cost of care, and working to ensure the client's right to quality care are all part of the elder law practice." http://naela.org/public/whatisElderLaw. Our
health care system is structured to reflect a commitment to acute care,
but not chronic care. Approximately
80% of Americans aged 65 and older have one chronic condition and
two-thirds have two or more. By
2020, over 80% of all health care expenditures will be spent for people
with chronic conditions; direct health care expenditures for chronic
conditions will exceed $1 trillion. Http://ppecc.org/chronicillnessfacts.
(Professionals with Personal Experience in Chronic Care) For example,
Medicare will pay the large medical bill for heart by-pass surgery.
However, if that same patient has a dementia related illness and
needs constant supervision, Medicare will not pay the supervisory care
needed in a nursing home or assisted living facility. Elder
Law includes the following:
Elder law strives to assure our quality of life continues while recognizing our physical, financial and family limitations. By Diane Kuhn Huff, June 24, 2009
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