Category: Financial Issues, Risks, Resources

Job Hunting After 50

Blog Post by Society of Certified Senior Advisors

 

There is good news.  Really.

Companies actually do hire seniors.  However, one unfortunate and often overlooked fact is that many baby boomer job seekers do not know how to conduct a modern job search, or properly present themselves to employers.  An ineffective resume or a poor interview can seriously derail anyone’s job search–especially that of the mature job applicant.  Unfortunately, this can shut him out of the job market.

The good news is that Carol A. Silvis is an experienced author who has taught training courses to older adults re-entering the workplace.  Having written extensively on the subject of career topics and concerns, her most recent book is Job Hunting After 50. It is specifically designed to prepare seniors for the job search by arming them with a plan for success.

This book shows them how to assess and update their skills and qualifications; use the appropriate technology; prepare their own resumes for today’s job market; and dress with style for the interview.  Silvis identifies the most common mistakes seniors make, showing them how to best avoid certain pitfalls.  In addition, she addresses their energy levels and attitudes.

The goal is to commit one’s time to finding the right job by approaching it systematically and intelligently.  Silvis has laid out some tried and true principles to follow in order to simplify the process.  Her book will be a boon for the boomers and their parents who are job hunting at this time.

Wishing you luck in your search,

-Laraine Jablon, BA, MA, is a writer living in Nesconset, New York.  She welcomes your thoughts.  Lhjablon@gmail.com

 

 

Connected to Trusted Advisors

Posted by Deborah Wilkinson

Member, Senior Resource Alliance Northwest

As a real estate broker, I found myself negotiating the sale of a home when my client was diagnosed for the second time with cancer.  In spite of age, the doctors had some hope that she could again beat it.  She, along with her family, were concerned about what would happen to the sale if she died before it was completed.   While there was a Will,  as it stood, there was no way to pass the assets on outside of probate which would interrupt the sale of the home.  We needed an attorney who specialized in estates and trusts.

 

For me, finding that knowledgeable and trusted advisor to refer was easy because I was already working with Stephanie Carter, a fellow member of Senior Resource Alliance NW (our group specializes in providing important services to the 55+ population and their families).  Stephanie responded immediately, scheduling the family for a meeting to review options.  Before that could happen, my client was hospitalized.  Stephanie put together all of the documents.

That signing took place at the hospital.  Being there, I could see the relief in my client’s face when she knew everything was taken care of for her two daughters.  Four days later, she died.

Dealing with the loss of loved ones and friends is extremely difficult.  Having affairs in order takes an incredible burden off their shoulders.  With the daughters, we are currently working to close the sale of their Mother’s home, and everything is progressing smoothly because of the action we took.

As a resource group, most of the work we do together is not so extreme or urgent, but what a relief it is to have the right people close by to get the job done; and quickly when needed.

Deborah Wilkinson, GRI, SRES, Oregon Principal Broker, Premiere Property Group, 5000 Meadows Road, Suite 150, Lake Oswego, OR 97035, (503)453-3597 (direct), (503) 670-9000 (office)
www.movingthroughyour life.com

 

What Happens to Your Digital Assets When you Become Incapacitated or Die?

Post by Stephanie Carter, Attorney at Law, with Draneas & Huglin, P.C.

Member, Senior Resource Alliance Northwest

What do I mean by the term “digital assets?”  This term includes any assets in a computer-readable format and stored on a computer, server, or other electronic device.  Examples include websites:  Facebook, iTunes, Twitter, Flickr and similar accounts; documents and other information saved in the “cloud;” and bank, investment and other accounts accessed over the Web.

At this time, most people have no planning in place for what happens to these digital assets when they become incapacitated or die.  Currently, Oregon, like most other states, has no law in place that gives fiduciaries (trustees, conservators, or personal representatives) access to these digital assets.  I serve on a committee of lawyers that has developed a legislative proposal to pass a law that gives fiduciaries access to digital assets.  However, the process is complicated by the user agreements that a person electronically approves when the person opens one of these accounts.  You know, the window that pops up displaying the user agreement that you automatically click the “I Agree” button on without reading the agreement?

The story of Oregon Mom, Karen Williams, illustrates the problem of accessing digital assets after a death.  When her son died in a motorcycle accident in 2005, she found his password and emailed Facebook, requesting that the administrators maintain his account so that she could read his posts and comments by his friends.  Within two hours, Facebook had blocked his account.  After a two-year legal battle, Williams finally gained access to her son’s account.

Other reasons a fiduciary may want to gain access to an account include the removal of hateful or distressing comments that may be posted (this has been a problem on Facebook memorial accounts for deceased police officers) or a conservator for an incapacitated person may need to gain access to accounts in order to determine whether the person has been financially abused.

At this time, the legal authority of a fiduciary to gain access to these digital assets is far from certain.  In fact, state law makes it a criminal offense to access the computer accounts of another person.  I invite you to think about what you would like to have happen to your digital assets when you die.  I will keep you posted on the progress of the legislative proposal in future posts.

Stephanie Carter, Attorney at Law, Draneas & Huglin, P.C., 4004 Kruse Way Place, Suite 200, Lake Oswego, OR,
(503) 496-5509, stephanie@draneaslaw.com, www.pegasusfiduciary.com

 

 

Family Caregiver Support – 2012 Webinar Series

Blog Post by Portland-Area Offices of Home Instead Senior Care

The 2012 Family Caregiver Support Web Seminar Series provides access to information and advice from professionals experienced with issues faced by family caregivers.Caring for a senior loved one can bring a sense of fulfillment, but usually not without a few challenges as well. To help you feel a little more confident and equipped in your role as a family caregiver, the Home Instead Senior Care® network is launching the 2012 Family Caregiver Support Web Seminar Series, featuring free monthly seminars for family caregivers on a variety of essential caregiving topics.

The web seminars, hosted in cooperation with the American Society on Aging (ASA), provide tips, information and advice from the perspective of professionals who are well-versed in issues facing families caring for aging loved ones.

Please note, these Family Caregiver Webinars are not eligible for CEU credits. The CEU credit offering is only available for the webinars featured in the Professional Family Caregiver series.

Please pre-register for any Family Caregiver Webinar by the deadline of 9 PM PST the day before! for the following 2012 Senior Care Web Series. Please click each “Register Now” link below for more details of each webinar and to sign up.

Living at Home with Arthritis – Family Caregiver Webinar
Wednesday, March 21, 2012 | 10:00 AM Pacific / 11:00 AM Mountain / 12:00 PM Central / 1:00 PM Eastern. Register Now.

How to Help your Senior Manage Medications – Family Caregiver Webinar
Wednesday, April 25, 2012 | 10:00 AM Pacific / 11:00 AM Mountain / 12:00 PM Central / 1:00 PM Eastern. Register Now.

Navigating the Senior Care Maze – Family Caregiver Webinar
Wednesday, May 23, 2012 | 10:00 AM Pacific / 11:00 AM Mountain / 12:00 PM Central / 1:00 PM Eastern. Register Now.

Caring for Someone with Alzheimer’s – Family Caregiver Webinar
Wednesday, June 27, 2012 | 10:00 AM Pacific / 11:00 AM Mountain / 12:00 PM Central / 1:00 PM Eastern. Register Now.

Managing the Stress of a Family Caregiver – Family Caregiver Webinar
Wednesday, July 25, 2012 | 10:00 AM Pacific / 11:00 AM Mountain / 12:00 PM Central / 1:00 PM Eastern. Register Now.

How to Balance Work and At-Home Care – Family Caregiver Webinar
Wednesday, August 22, 2012 | 10:00 AM Pacific / 11:00 AM Mountain / 12:00 PM Central / 1:00 PM Eastern. Register Now.

Senior Cognitive Issues – Family Caregiver Webinar
Wednesday, September 26, 2012 | 10:00 AM Pacific / 11:00 AM Mountain / 12:00 PM Central / 1:00 PM Eastern. Register Now.

Helping Seniors with Finances – Family Caregiver Webinar
Wednesday, October 24, 2012 | 10:00 AM Pacific / 11:00 AM Mountain / 12:00 PM Central / 1:00 PM Eastern. Register Now.

Helping Seniors with Loss of Independence – Family Caregiver Webinar
Wednesday, November 28, 2012 | 10:00 AM Pacific / 11:00 AM Mountain / 12:00 PM Central / 1:00 PM Eastern. Register Now.

Multi-Generational Living – Family Caregiver Webinar
Wednesday, December 19, 2012 | 10:00 AM Pacific / 11:00 AM Mountain / 12:00 PM Central / 1:00 PM Eastern. Register Now.

Get more information and pre-register on any webinar above. You may also Email info@asaging.org or call 415-974-9600 if you have questions about registering for or accessing a recorded webinar.

 

 

WSJ Highlights Caregiver Resources from Genworth, AARP, and Home Instead

Blog Post by Portland-Area Offices of Home Instead Senior Care
Content from February 18, 2012 article in the Wall Street Journal, Family Value Section

Caring for an elderly relative isn’t just costly and time-consuming—studies show it could even harm your own health. Now, some companies and nonprofits are rolling out free and low-cost professional help for family caregivers.

Genworth Financial, a large long-term-care insurer, and AARP, the membership group for older Americans, on Thursday introduced a new service for AARP members through which the families of older adults with dementia and other illnesses can assess their needs and develop a care plan—either online, over the phone or in person with a registered nurse.

……….

The new service, formally known as AARP Caregiving Help and Advice from Genworth ranges from $12.99 for six months of online access to $149 for a phone assessment, a service plan and six months of online access, to $489 for an in-home consultation. Adding the “service finder” option—which includes researching local availability, providing quality ratings, negotiating discounts and coordinating the start of care—brings the phone total to $295 and the in-person bill to $665.

……….

Home Instead Senior Care, for its part, is trying to help caregivers—both its own 70,000 paid workers and the public—better meet the needs of people with Alzheimer’s.

“Rather than trying to force Alzheimer’s patients to live in our world in the here and now,” Home Instead’s Mr. Huber says, “we need to meet them in the past.”

For example, one of Home Instead’s clients in Omaha, Neb., where it is based, had served in the military. To persuade him to take a bath—something Alzheimer’s patients often have an aversion to—his caregiver told him a general was coming for inspection and he needed to get ready. He immediately took a bath, Mr. Huber says.

Such simple strategies, he adds, can help people with Alzheimer’s prolong their time at home as well.

By the end of this year, all of the company’s 600-plus franchised locations expect to offer Alzheimer’s training for caregivers. And in May, it plans to post an online course at the Help for Alzheimer’s Families website, which already has other resources.

These new programs come on top of free services offered by the U.S. Administration on Aging’s Eldercare Locator, which connects older adults and families to local agencies, and the nonprofit National Council on Aging’s BenefitsCheckUp site, which provides screening for more than 2,000 public and private programs.

Link to full Wall Street Journal article

 

Columbia Community Bank Spotlights Home Instead Senior Care

Client Spotlight – Winter 2012 Quarterly Newsletter, Columbia Community Bank


We all have an elderly friend or relative who would like to stay home as long as possible. Home Instead can make that wish a reality.

The Washington County, Oregon franchise of Home Instead Senior Care was founded in 2005 by Mike Brunt who is the owner, operator, and a certified senior advisor. Mike started the business to help seniors remain safely in the comfort of their homes and to provide support to the family and friends who love them. Home Instead is available to address a variety of concerns and provide non-medical home care services, whether it’s companionship while family members are at work; help with groceries, errands and household tasks; or hands-on help with personal daily routines. Mike’s staff includes scores of caregivers who reside in and provide care in Washington County.

When it was time for Mike to expand his business, he found Ann Hall at Columbia Community Bank, who was willing to figure out a way to structure a loan for his service-based business. “I’m a believer of community based banking,” said Mike. “I like knowing that money is reinvested in the community to help businesses like mine grow.”

One of Home Instead Senor Care’s past clients is Mel, a retired farmer who, with the help of his beloved Home Instead CAREGivers (SM), continued his passion for plants and flowers in his greenhouse.

(Mel holds flowers from his greenhouse with his CAREGiver.)

Photo Above: Mike Brunt going in style with his community outreach director, Jean Blackburn, on their way to serve seniors.

 

Battle Over $400 Million Estate Amid Allegations of Undue Influence and Elder Abuse

Post by Stephanie Carter, Attorney at Law, with Draneas & Huglin, P.C.

Member, Senior Resource Alliance Northwest

Copper mining heiress and youngest daughter of former U.S. Senator and industrialist William A. Clark, Huguette Clark, died in May 2011 at the age of 104.  She left behind an estate totalling approximately $400 million.

Clark’s last will and testament was filed with the court in June 2011.  The will was made in 2005 and left 75% of her estate, about $300 million, to charity.  Her longtime nurse, Hadassah Peri, received about $30 million, her goddaughter, Wanda Styka, received about $12 million, and the newly created Bellosguardo Foundation received $8 million (a charitable foundation overseen by her accountant, Irving Kamsler, and her attorney, Wallace Bock).  Other employees who managed her residences received smaller sums.  Her attorney and accountant each received a bequest of $500,000.

Clark’s family has filed court documents indicating there was a different will, dated six weeks earlier, which leaves most of her estate to her family.  The documents alleged that Kamsler and Bock systematically manipulated and exploited Clark, isolating her from her family, and taking away her free will.  These allegations are the basis for a potential elder abuse and undue influence suit.  Apparently, questions about Kamsler and Bock’s management of Clark’s fortune were raised in a 2010 series of investigative reports on MSNBC.  As a result, both men were placed under investigation by the Manhattan District Attorney’s office.

Recent investigations by the Manhattan public administrator indicate that Kamsler and Bock, who were paid thousands of dollars a month for responsibilities that included dealing with Clark’s taxes, had let $90 million in unpaid federal gift taxes and penalties accrue by December 2011.  Amid rumors that the public administrator was about to request the court to remove Kamsler and Bock as executors of the estate, Kamsler resigned.

Clark’s case raises several issues that seniors should be aware of as they plan for management of their affairs in the event of incapacity and the distribution of their estate after their death.

Normally a person in Clark’s situation would have established a revocable living trust and all of her assets would have been held by the trust and managed by one or more trustees.

The trustee(s) would have been subject to fiduciary duties, their actiions could be reviewed by the court at the request of an interested person, and the trustee fees would likely have been limited to a “reasonable fee.”  A trust would also have avoided probate, kept the details of Clark’s estate private, and facilitated the transfer of assets to the beneficiaries.

Such an estate plan may have avoided the potential for elder abuse that is alleged in this case.  Under Oregon law, a person can designate a “Trust Protector” who receives annual accountings and reports on the trust and may have the power to remove and replace a trustee.  This is another safeguard.

There are also ethical issues with regard to attorney Bock receiving a bequest from Clark, particularly if he prepared the will.

Sources:  Reuters, “Family of reclusive U.S. copper heiress disputes will,” Chris Francescani, November 29, 011.  Associated Press, “Taxes questioned, accountant quits on heiress’s estate.”

Stephanie Carter, Attorney at Law, Draneas & Huglin, P.C., 4004 Kruse Way Place, Suite 200,
Lake Oswego, OR, (503) 496-5509, stephanie@draneaslaw.com

Oregon Transfer-On-Death Deeds: The Good, the Bad, and the Ugly

Post by Stephanie Carter, Attorney at Law, with Draneas & Huglin, P.C.

Member, Senior Resource Alliance Northwest

On January 1, 2012, a new estate planning tool became available to Oregonians–the Transfer-on-Death Deed (TODD).  The new law allows property owners to transfer real property (i.e., real estate) to one or more beneficiaries using a TODD.   The Deed must be recorded while the transferor is still living, but is revocable and does not take effect until the transferor’s death.  This means that the property owner can sell the property at any time during his or her lifetime, automatically revoking the TODD.

Bank accounts, certificates of deposit, investment accounts, life insurance and almost all other assets have long allowed the owner to designate a beneficiary and, thus, avoid probate.  Real property, often the largest asset a person owns, did not allow such a designation.  The new TODD is intended to allow for real property to pass after death without probate.

When used in the right circumstances, a TODD could save the estate money.

As an estate planner, I have several concerns about the use of  TODDs without first obtaining competent legal advice.  Some of these are:

1.  Potential for fraud and elder abuse.  An untrustworthy individual could influence an elderly property owner to sign a TODD in his or her favor.  Such a transfer may defeat the transferor’s estate planning objectives.  The persons who would otherwise have inherited the property would have to bring a court action to defeat the TODD.

2.  18-month Cloud on Title.  When an estate is probated, there is a four-month creditor claim period, and the State of Oregon must be informed of the probate proceeding.  At the end of the claim period, clear title to the property may be transferred.  If a TODD is used, the property may not be transferred for 18 months.  One of the reasons for this longer period is to allow the state of Oregon to learn of the property owner’s death and assert a claim against the property for monies the State paid out for Medicaid care.

3.  Multiple grantors may lead to inconsistent results.  If there are joint grantors, a surviving grantor may revoke the deed after the other grantor’s death.  The revocation may be inconsistent with the deceased grantor’s wishes.

A TODD may or may not be the best tool for you to use to transfer real property at your death.  Consult an estate planning attorney to learn if this option is right for you.

Stephanie Carter, Attorney at Law, Draneas & Huglin, P.C., 4004 Kruse Way Place, Suite 200,
Lake Oswego, OR, (503) 496-5509, stephanie@draneaslaw.com

Who Gets the Tax Deduction When Decedent’s Personal Property is Donated to a Charity?

Post by Stephanie Carter,  Attorney at Law, with Draneas & Huglin, P.C.

Member, Senior Resource Alliance Northwest

When I assist a personal representative in the probate of an estate, the question almost always arises:  Who gets the tax deduction when the decedent’s personal property is donated to a charity?

Most clients assume that the estate gets the tax deduction.  That is incorrect!  Instead, the receipt for the deduction should be passed on to the beneficiary.  So, look at the decedent’s will or trust to see who was gifted the decedent’s personal property.  If the decedent died with no estate planning in place, then you would look at the intestacy statute to see who inherits the estate.

It is also important to remember that a trustee or personal representative (“fiduciary”) should not dispose of personal property to anyone other than the designated beneficiary without authorization.  Sometimes this authorization is provided in the will or trust.
For example, the estate planning document may give the fiduciary discretion to sell personal property and give the beneficiary the proceeds from sale.  In other cases, the beneficiaries may jointly agree that certain items may be donated (e.g., those items that do not sell at an estate sale).

Stephanie Carter, Attorney at Law, Draneas & Huglin, P.C., 4004 Kruse Way Place, Suite 200,
Lake Oswego, OR, (503) 496-5509, stephanie@draneaslaw.com

Lack of Estate Planning Sets the Stage for Conflict

Post by Stephanie Carter, Attorney at Law, with Draneas & Huglin, P.C.

Member, Senior Resource Alliance Northwest

A surprising number of famous people have died without any form of will or trust to direct distribution of their estate.  This has often led to conflicts over the right to control the estate assets, including intellectual property, public image, and other money-producing assets.

For example, Martin Luther King Jr. didn’t have a will when he was unfortunately assassinated.  His estate, which is run now through a corporation established by his children, often struggles to determine what King’s wishes would be.  Decades after the civil rights leader’s death, his children are still trying to sort out matters related to his estate.

Reggae singer Bob Marley left no will when he died in 1981.  Over the past 30 years, the estate has been involved in multiple lawsuits.  Handling Marley’s estate was complicated by the fact that, although Marley died in Florida, he maintained his Jamaican citizenship.  Since Jamaica’s laws of intestacy were not as generous as Florida’s, his advisors decided to prepare an estate plan AFTER HIS DEATH that Marley’s widow then signed.

The Jamaican court sorted out the issue of the falsified will and removed Marley’s widow as administrator of the estate.  The court then had to resolve the issue of who had the right to use the singer’s name, likeness and image in commerce.  About 10 years after Marley’s death, the Jamaican Supreme Court decided that Marley’s heirs possessed this exclusive right.  The heirs include the widow and Marley’s children.  Unfortunately, the list of heirs does not incude siblings.  The estate is now suing Marley’s half-brother for using his image to promote a Miami music festival and restaurant, as he has done for many years.

Swedish author Steig Larsson, known for his Millennium series that includes The Girl with the Dragon Tattoo, also died without a will.  His estate passed to his heirs (brother and father with whom Larsson was not close) rather than his long-time partner, Eva Gabrielsson.  Gabrielsson has refused to release to the estate the partial fourth volume in the book series, has fought for her share of the apartment they shared, and control over Larsson’s literary estate, which she feels better prepared to administer than Larsson’s family  The dispute is still pending.

Although your estate may not be large, and you may not be famous, proper estate planning can help pass your estate to the next generation without the conflicts that occur when money and sentiment are involved.

Stephanie Carter, Attorney at Law, Draneas & Huglin, P.C., 4004 Kruse Way Place, Suite 200,
Lake Oswego, OR, (503) 496-5509, stephanie@draneaslaw.com

Hearthstone at Murrayhill Free Seminar Series: “Making Life Choices”

Blog Post by Penny Holcomb, Community Relations Director, Hearthstone at Murrayhill

Printable Flyer

Free Seminar Series for Seniors and Families

A free seminar series is being offered by Hearthstone at Murrayhill, a retirement community located at 10880 SW Davies Road in Beaverton.  The four-week series, titled “Making Life Choices,” is geared toward seniors and their families. Seminars will be held on four consecutive Saturdays, beginning January 14, from 10 a.m. to noon.

The January 14 session, titled “What You Don’t Know…CAN Hurt You,” will feature two local professionals: Lake Oswego Attorney Christopher Young from the Pixton Law Group and Diane Childs from the State of Oregon’s Department of Consumer & Business Services. Mr. Young will focus on common legal issues faced by seniors and their families. Ms. Childs will provide tips on how to protect your money from fraud and identify theft.

Subsequent Saturday sessions (January 21 and 28, and February 4) will feature other local professionals who are familiar with the needs of seniors and their families. They will address such topics as “Creating Family Peace in Times of Turmoil,” “Selling Your Home in a Down Economy,” and “Getting Organized.”

 

 

Dispute Over Estate of Stieg Larsson Highlights Importance of Estate Planning

Post by Stephanie Carter, Elder Law Attorney with Draneas & Huglin, P.C.

Member, Senior Resource Alliance Northwest

In November 2004, Stieg Larsson, Swedish writer and journalist, died suddenly of a heart attack.  Larsson became famous after his death through the posthumous publication of his Millennium Trilogy (“The Girl With The Dragon Tattoo,” “The Girl Who Played With Fire” and “The Girl Who Kicked the Hornet’s Nest”).  Today, these books have sold more than 20 million copies in 41 countries and have been made into movies.

Larsson lived for 32 years with the architect Eva Gabrielsson.  They never married; they had no children; and he did not leave a will.  Swedish law makes no provision for common-law marriage.  Under the Swedish law of intestacy, Larsson’s entire estate was inherited by his Father and Brother, from whom he was estranged.

This disposition of Larsson’s estate sparked a bitter dispute between Larsson’s Father, Brother and Eva Gabrielsson.  Gabrielsson claimed that Larsson’s Father and Brother Larsson “were never a part of our lives” and that they are unsuited to handling his estate–including the valuable copyrights.

Larsson’s former workplace, Expo, owns the computer on which is stored the partial manuscript for the fourth book in the Millennium series.  Larsson’s Father and Brother own the contents of the computer.   However, Gabrielsson currently is in possession of the computer and has so far refused to hand it over.

Negotiations between the parties began in November 2009, but were broken off the following month when Gabrielsson announced she had declined a ”settlement” offer of about 2 million euros from Larsson’s estate (which is now valued in the tens of millions of euros).  The dispute remains unresolved.

 

Practical Application Under Oregon Law

The situation described above is unfortunately all too common.  The outcome under Oregon law would be similar to that of Sweden in this context. If a person dies with no will, the deceased person’s probate estate wil pass to members of his or her family in the order of priority listed in the statute.  If assets like bank accounts, certificate of deposit, and life insurance list beneficiaries, the asset will pass to the listed beneficiary.  If no beneficiary is listed, the asset becomes a part of the probate estate.

The problem also arises when a deceased person signs estate planning documents, but never updates them and does not regularly (every 3-5 years) check the beneficiary designations on assets that do not pass by will or trust.

It is very difficult when I have to tell a client that he or she will not share in a loved one’s estate because of outdated documents.  Do you have estate planning in place?  If so, how long has it been since you updated it?

Stephanie Carter, Draneas & Huglin, P.C., 4004 Kruse Way Place, Suite 200,
Lake Oswego, OR, (503) 496-5509, Stephanie@draneaslaw.com

 

Senior Resource Alliance NW – Professionals to Serve Your Senior Loved Ones

Blog Post by Mike Brunt

Those who have helped an aging loved one through the later years of life know that the romanticized picture of old age as sipping lemonade on a porch swing is a far stretch from the actual experience. The realities of aging force seniors and their family members to confront physical, emotional, logistical, financial, legal, and caregiving challenges that are hard to predict, even harder to accept, and impossible to completely avoid.

What is needed is a strong group of affiliated service providers who can provide needed services and confidently refer you to other resources you can trust…enter Senior Resource Alliance NW.

 

The Senior Resource Alliance NW was formed to be an inter-connected group of professionals in the Portland Metro Area who provide essential products and services to seniors and those who care for them.

If you are working with your aging mother on estate planning and advanced directives for health care, you may also be in need of a trusted provider of in-home caregiving services or home remodeling. Or, if you are working on moving your parents into an assisted living community, you may also need help with an estate sale or the physical process of downsizing and moving. If Medicare is your hot topic, you may also be looking for financial planning or information you can trust about reverse mortgages. Whatever your need may be, the Senior Resource Alliance NW is your source of friendly, reliable professionals who will be there for you when you need them most.

Areas of Expertise:

  • Counseling Services
  • Daily Money Management
  • Estate Planning & Elder Law
  • Financial Planning
  • Geriatric Care Management
  • Home Remodeling & Repair
  • In-Home Care
  • Insurance
  • Mortgages
  • Real Estate
  • Relocation Services
  • Senior Housing

 

2011-2012 Officers for the Group Are As Follows:

President: Barbara Murphy, Neil Kelly Company
Vice President of Marketing: Stephanie Carter, Draneas & Huglin, P.C.
Chair of Marketing: Mike Brunt, Home Instead Senior Care
Secretary & Chair of Membership: Kim Megorden, KARE Transitions, LLC
Treasurer: Sandra Wagner, Frazier Hunnicutt Financial

 

Contact Information for the Senior Resource Alliance NW:

WEB: www.sranw.com
PHONE: (503) 442-3864
EMAIL: info@sranw.com

 

Washington County Family Caregiver Conference November 18

Blog Post by Deborah Letourneau, MSW
Program Coordinator of the Washington County Family Caregiver Support Program

SAVE THE DATE!

2011 Washington County Family Caregiver Conference

  • Friday, November 18, 9:00 a.m. to 2:30 p.m.
  • Tuality Health Education Center at 334 SE 8th Ave., Hillsboro
  • Call 503-846-3089 to save your space

 

There is no charge to family caregivers for admission and lunch.

Keynote Speaker:

Rev. Dr. Deborah L. Patterson, M.Mus., M.H.A.,
Executive Director, Northwest Parish Nurse Ministries
“Navigating the Tides of Change in Caregiving”

Discussions and Sessions:

  • Care– Sharing the care
  • Housing– Best options at home or in the community
  • Finances– Decisions and authority
  • Health– Living well with chronic conditions
  • Final Transitions– Nearing the end of your caregiving journey

Printable Flyer for 2011 Washington County Family Caregiver Conference

 

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Financial Safety Tips To Avoid Identity Theft

Post by Laura Miller of Sapphire DMM
Member, Senior Resource Alliance Northwest

Identity theft is the fastest growing crime in the country, affecting half a million new victims each year.  Although stealing someone’s identity to obtain credit or money can cost consumers thousands of  dollars, it often goes undetected for months or even years.  Here are some tips on preventing such theft:

  • Photocopy the contents of your wallet, copying both sides of each credit card.  Keep the photocopies and account numbers at home in a safe and secure place.
  • Do not give personal information over the telephone, through the mail, or over the internet unless you have initiated the contact.
  • Shred documents and pre-approved credit applications received in your name.
  • Never use your Mother’s maiden name, your birth date, or the last four digits of your social security number as your password.
  • Do not carry your social security card, birth certificate, or passport unless necessary.
  • Do not print your social security number or driver’s license number on your checks.
  • Order your credit report at least once a year.  Reports can be obtained from:

Equifax – 1.800.685.1111 or www.equifax.com
Experian – 1.888.397.3742 or www.experian.com
Trans Union – 1.800.680.7293 or www.transunion.com

Laura Miller
Sapphire Daily Money Management
www.sapphiredmm.com

Delegating Financial Responsibility: Trust, Transparency, Safeguards

Blog Post by J. Patrick Moore

Mr. Moore is the Administrator of the King City Civic Association. He has degrees in Mathematics and Ministry, and has worked in Community Association Management for over 8 years, and prior, in Ministry positions for over 12 years. Both his mother and mother-in-law live in Retirement Living facilities.

King City Civic Association

Fiduciary Duty

Many of us have seen the term, “Fiduciary Duty,” or “Fiduciary,” and may have a vague idea of what it means. This article is intended to give a general overview of the concept of fiduciary duty but, since I am not a lawyer, is not intended to offer legal advice.

Wikipedia states: “A fiduciary is someone who has undertaken to act for an on behalf of another in particular matter in circumstances that give rise to a relationship of trust and confidence.” Additionally, “A fiduciary duty is the highest standard of care at equity or law. A fiduciary is expected to be extremely loyal to the person to whom he owes the duty (the principal): he must not put his personal interests before the duty, and must not profit from his position as a fiduciary, unless the principal consents.”

Many elderly people come to a point where they need someone to help them handle their financial affairs, or take them over completely. Essentially, someone who is given a Power of Attorney takes on a Fiduciary responsibility to the elderly person, to act out of loyalty to the person for whom they are taking that responsibility. It’s very important to be selective about who handles your financial affairs, since you effectively give them power over your assets (real estate, personal property, cash, bank accounts, investment accounts, retirement accounts, etc.). Choosing poorly could have a dramatic – and perhaps drastic – effect on your quality of life in your last years. There have been numerous stories in the news about people who literally lost a fortune when trusting the wrong person.

Generally, many people will look to family members first. If your family members are good, honest, upright people, that has the potential to work out great! However, not all family members are created equal. Just as you might think twice about hiring someone with their own money problems to run a cash register in a store, think twice if you have a relative who has not handled money responsibly in their own life – do you really want that person handling your financial affairs?

The same goes with your acquaintances. A neighbor or person from church who hasn’t done well handling money in the past, won’t be the right person for you. Know that there are some con artists who get involved in groups – some in clubs, others in churches – and commit financial fraud (Bernie Madoff is a great example of someone who came highly recommended from friends, but was not trustworthy).

Sometimes, it can work well to hire a professional – a lawyer or CPA –  to handle your affairs, but know that they will charge you fees for their services, and they are not cheap! If you can easily afford their hourly rates, a lawyer or CPA may be just the person you are looking for; be sure to ask how much the fees are, up front.

Transparency is a popular buzz-word in some circles. Essentially, it means that nothing his hidden from sight. If you don’t have family close by, having someone locally who handles your affairs can be a good arrangement, particularly if there is transparency in the way that your affairs are handled – with a monthly reporting of financial condition, and the bank statements being delivered directly to a trusted family member, or having a family member who has internet access to your account, so that the can download the statements directly. Many banks allow access to images of checks that have cleared, which can allow another layer of transparency.

If and when all else fails in finding someone to handle your finances, check with your local city or county services, as they may offer a service through one of their departments; or they may be able to refer you to an agency that can assist you.

Remember, handling your financial affairs is very similar to hiring someone to manage a company. Be careful to choose well, and try to put safeguards in place to ensure your financial safety.

J. Patrick Moore, CMCA
Administrator
King City Civic Association
15245 SW 116th Ave.
King City, OR 97224
503.639.6565 Phone
503.639.8815 Fax
http://www.kingcityowners.com/

Assessing Financial and Emotional Effects of Inter-Generational Living

Blog Post by Home Instead Senior Care offices in the Portland Metro Area

Why Families Are Living Together
The reasons different generations decide to live together are as varied as the families themselves, but three factors often come into play:

  • Shared Caregiving: Families are coming together to share caregiving duties — either an elderly loved one needs care or an older adult is providing care to his or her grandchildren.
  • Physical or Emotional Support: Seniors may feel the need for the physical or emotional support of extended family after losing a spouse, dealing with health issues, or having problems maintaining their property.
  • Finances: The economy is affecting everyone, especially seniors living on fixed incomes. Moving in with family can sometimes save money on food, utilities, and other essentials.

Whether your senior loved one should live with you or stay in his or her own home is an emotionally charged decision. But it’s important to understand both the financial and emotional impact, as well as some of the options available to you.

Home Instead Senior Care and Adriane Berg, author of more than 13 books on personal finance and a founder of the National Academy of Elder Law Attorneys, have combined their experience to create the Too Close For Comfort?® calculator. This tool uses 15 questions to walk you through basic budget items, major issues, and some often-overlooked matters that could affect your decision.

More about having aging parents live with you in your home.

What You Need to Know About Long-Term Care

Blog post by Mike Brunt
Content from the Society of Certified Senior Advisors

Get more info and download the free guide.

About 70 percent of people over age 65 require long-term care services to some extent, and the likelihood of needing care increases even more as you age. Yet the cost of long-term care often exceeds what the average person can pay from their income and other government programs. It is more important than ever for everyone, including seniors, their families and those professionals who work with them, to understand and plan ahead for long-term care.

The Society of Certified Senior Advisors has created a new comprehensive white paper on long-term care, What You Need to Know About Long-Term Care, that will provide you with invaluable information, including:

  • The importance of long-term care
  • What options for services are available
  • The costs associated with long-term care
  • How to determine whether long-term care insurance is right for you
  • Tools and guides to help you set up a plan

 

Get more info and download the free guide.

Founder of Home Instead to Speak in Portland on February 10

Event Now Passed: See Photos on Facebook

Blog Post by Home Instead Senior Care offices in the Portland Metro Area

Those of you who have been following this blog for the past year probably by now recognize the name “Paul Hogan.” Paul and his wife, Lori, founded Home Instead Senior Care 17 years ago and last year wrote the USA Today Bestseller, Stages of Senior Care: Your Guide to Making the Best Decisions.

Mark Your Calendars!

On February 10, from 4-6 p.m., you are invited to hear Paul speak at the Embassy Suites Hotel in downtown Portland. He will address long-term care professionals and family caregivers about the range of support services and resources available to seniors as they age. Paul’s presentation draws from ideas presented in the book including senior care options, pros and cons of each, relative costs, pitfalls to avoid, when each option is most appropriate, and how to deal with family conflict and caregiver stress.

CEU UPDATE
This event is approved by the Oregon Nursing Home Administration Board for 1 general hour of CEU credit.

Attendees will also receive a free, signed copy of the book, Stages of Senior Care, and will get a chance to chat with Paul for a few minutes.

Here are some examples of how Paul is a thought leader in the senior care industry:

http://seniorcare2share.com/2010/11/seniors-and-the-information-gap/
http://seniorcare2share.com/2010/08/caring-for-the-aging-time-to-create-a-new-model/

On a Personal Note…

Paul came to Bend, Oregon last year for a similar event where he spoke to long-term care professionals and adult children of aging parents. I decided to make it a father and son adventure with my just-turned-four-year-old boy, Henry. It was so much fun. Early in December, when I found out that Paul would be here for this event on February 10, I said to Henry, “Paul Hogan is coming to town.” He immediately responded, “Like Santa Claus?”

So, if you want to feel the excitement that a child feels at Christmas, just attend this event. You will be glad you did.

Spouse on Medicaid? You May Need to Change Your Will.

Post by Elder Law Attorney, Geoff Bernhardt
Article on Geoff’s Blog

Wednesday, January 5, 2011

Legislative Alert! Do You Have a Spouse on Medicaid? Oregon Law Now Requires You to Change Your Will

According to the State of Oregon, the average cost of long-term care is now $7,663 per month. Paying for this care for very long is beyond the means of most middle-class families. In an effort to obtain good care for an ill spouse and preserve enough assets for the healthy spouse to live independently, many people in this situation apply for assistance with care costs through the Medicaid program.

Once the Medicaid application is approved, most people neglect to consider a crucial question: What happens if the healthy spouse passes away before the ill spouse? While Medicaid allows an ill spouse to have only $2,000 in assets, a healthy spouse is permitted to maintain additional assets, as much as $109,560 plus the family home, for his or her support. What will happen to these assets if the healthy spouse dies first?

The answer depends on the will of the healthy spouse. Mostly, we see that the healthy spouse has made no change at all to an old will leaving all assets to the ill spouse. In that event, if the healthy spouse dies first, all assets pass to the ill spouse. This causes two problems. First, the ill spouse will immediately lose eligibility for Medicaid benefits. Second, due to illness, the ill spouse is usually unable to manage the inheritance. Sometimes the court has to appoint a conservator to manage the ill spouse’s inheritance and pay the bills. All of this results in large expenses for the ill spouse and extra hassle for loved ones.

Sometimes, the healthy spouse will go to the other extreme. Instead of leaving everything to the ill spouse, the healthy spouse signs a new will leaving nothing to the ill spouse. The problem with this is, under Oregon law, you cannot completely disinherit your spouse. An ill spouse has the right to receive a portion of the healthy spouse’s estate. If the ill spouse is on Medicaid, the State of Oregon will intervene in the healthy spouse’s estate, and the court will require that some of the healthy spouse’s estate be set aside for the ill spouse. As of January 1, 2011, that amount is being increased to one-third of the healthy spouse’s estate.

As a practical matter, this means that every healthy spouse who has an ill spouse receiving Medicaid benefits needs to update his or her will to comply with this change in Oregon law. At a minimum, one-third of the healthy spouse’s estate should be left in a support trust for the ill spouse. Remaining assets can be left in a special needs trust for the ill spouse (these funds will be protected from the Medicaid spend-down) or to other beneficiaries.

So, if you have a spouse in long-term care who now receives, or who may in the future receive Medicaid assistance, speak with an experienced elder law attorney to discuss bringing your will into compliance Oregon law. Prompt attention to this issue could save your family tens of thousands of dollars and avoid delays in Medicaid eligibility. Most importantly, updating your will helps to insure that the ill spouse will always receive good care and has the best possible quality of life.