The golden years present a unique set of challenges. Good planning can put your mind at ease and protect your family.
My father is no longer able to manage his finances, what can I do?
If he still has adequate mental capacity he can sign a Power of Attorney to help him manage his affairs. However, if a doctor has indicated that he no longer has the capacity to make such decisions then the Courts can appoint a Conservator or a Guardian to take over these decisions for him.
I’m about to move into a nursing home, will Medicaid take my money?
Medicaid is a needs based government benefit that will pay for long term care under certain circumstances. It does not “take” your assets but you will not qualify for the benefit unless you meet very strict asset and income limits. When applying, the Medicaid technicians will look back five years to examine your finances and assets. It is imperative that you speak with a professional before you apply for Medicaid to make sure that you understand the requirements and can plan appropriately to manage your finances in the years prior to your application.
A neighbor is taking advantage of my father, what can we do?
Colorado law provides for restraining orders to be obtained to prevent emotional abuse of the elderly or at-risk adults. If your parent is over the age of 65 or disabled and is being taken advantage of by persons manipulating him for their own gain, a restraining order can be entered to prohibit that person from any further contact.
“Even though I am moving out of state I wish you could be my attorney forever.”
PAM L., CREEDE, CO