Senior Citizens- Avoid Getting Scammed

Agencies tracking Americans older than 65 and baby boomers (born between 1946 and 1964) agree that scams aimed at seniors are on the rise. However, exact numbers are hard to come by because of underreporting.

The few statistics available show seniors are disproportionally affected by financial scams. About 20% of Americans older than 65 — about 7.3 million people — were estimated to have been financially taken advantage of last year, according to survey data.

Investment schemers, fraudulent telemarketers, false charities or lotteries, and people posing as relatives through email or phone are just a few of the ways elders can be scammed.

Though seniors are not inherently more susceptible to these types of crimes — the Federal Trade Commission reported that the most consumer fraud complaints last year came from seniors and baby boomers. This is because certain assumptions are made by scammers about their older victims, according to Virginia TRIAD, a crime prevention partnership between seniors and law enforcement. These assumptions can include that seniors have money from life savings or other assets, that they are at home and willing to talk, or that they are hard of hearing and less able to distinguish voices.

The following are warning signs to look out for of elder fraud schemes, from Virginia TRIAD:

• "Free" gifts that require you to pay shipping and handling fees, redemption fees or gift taxes before delivery
• High profit, no-risk" investments
• "Act now" and other high pressure sales tactics
• A request for a credit card number for identification purposes or to verify that you have won a prize
• Refusal to provide written information or even the most basic details about an organization 
• Organizations that are unfamiliar or have only a post office box for an address

 Often, victims of scams are too embarrassed by being "taken" to report their losses. It is still important to report scams because con artists can continue to operate them if their crimes remain unreported. Consumers who receive questionable offers or have concerns about offers that appear to be official or have governmental ties, are encouraged to contact the Better Business Bureau at 1-800-646-6222, or to bring it to your local police station.

We hope you are never the victim of a scam and that your hard earned assets are protected in a safe and ethical manner. If you have not done Long-Term Care Planning, Estate Planning or Incapacity Planning (or had your Planning documents reviewed in the past several years), or if you have a loved one who is nearing the need for long-term care or already receiving long-term care, call The Fairfax Elder Law and Estate Planning Law Firm of Evan H. Farr, P.C. at 703-691-1888 to make an appointment for a no-cost consultation.

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Shortage of Caregivers will Affect Baby Boomers in the Future

More than two-thirds of Americans believe they will be able to rely on their families to meet their long-term care needs. According to a recent AARP study, however, if you are a baby boomer, even though you may be supporting your own elderly parents, the chances of someone being there for you are numerically diminished.

The study, “The Aging of the Baby Boom and the Growing Care Gap,” determined that two decades from now, there will be far fewer caregivers available and more need for them. In fact, the ratio of potential caregivers to boomers needing care will sink from 7.2 to 1 in 2010 to 2.9 to 1 by 2050, according to the study.

The problem, as researchers have defined it, stems from a combination of factors, including the large number of baby boomers and the fact that boomers had relatively fewer children than earlier generations. Women in particular will be affected, because they typically live longer, but men have been catching up, the report said. The high rate of divorce among baby boomers, and the fact that one in three is unmarried, exacerbates the problem, combined with rising levels of obesity even as longevity increases.

There are currently 42.1 million adults in the United States caring for friends or family members. Nearly two-thirds of those caregivers are women, and more than 80 percent of the people they care for are over 50. Unpaid care in recent years was estimated to be worth the equivalent of $450 billion in 2009, more than the cost of Medicaid and approaching the cost of Medicare. To make up for this, the country needs policies that will provide for better support for caregivers and more affordable options for home care, the report said. A federal commission on long-term care is expected to come up with recommendations this fall.

Given the trends described in the report, it is now more important than ever to plan for your future and for your loved ones. If you have not done Long-Term Care Planning, Estate Planning or Incapacity Planning (or had your Planning documents reviewed in the past several years), or if you have a loved one who is nearing the need for long-term care or already receiving long-term care, call The Fairfax Medicaid Asset Protection Law Firm of Evan H. Farr, P.C. at 703-691-1888 to make an appointment for a no-cost consultation.


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Pets in Assisted Living Communities Shown to Boost Seniors' Health

In some assisted living communities, dogs and cats can accompany their owners, and sometimes there are pets in assisted living communities (and in nursing homes) that are owned by the facility and enjoyed by the residents. A growing consensus among assisted living residents and staff alike is that pets bring health, connection, and a sense of home.

Not every assisted living community has a pet program. They're growing in popularity at a rapid rate, and for good reason. Studies show that when seniors interact with pets, depression and loneliness decrease while socialization and conversation rise. Part of the reason is that pets are not judgmental and they don't see age or disability. In addition to offering unconditional love, lowering blood pressure, helping fight depression and loneliness, and easing loss, pets in assisted living communities keep seniors active.

Consider these statistics from the Pets for the Elderly Foundation:

• 95% of seniors talk to their pet or a visiting pet
• 82% say pets help when they feel sad
• 71% say pets make them feel better when they feel physically bad
• 65% say touching a pet soothes them
• 57% confide in a pet

"Taking care of a pet is a way to engage residents," says Paul Kelley, senior director of Operations for Sunrise Senior Living. "Many stay active by filling water bowls and taking trips to a pet store for treats. Sharing care can also be a bonding opportunity for residents and staff alike. And for residents who are used to being cared for, it's a nice change for them to step into a caregiver role as they become responsible for an animal's well-being."

It has also been shown that pets are good for Alzheimer’s patients. They, too, need to belong, love and be accepted. Pets give unconditional love. Alzheimer’s patients say the most incredible things in the presence of a pet.

There are common challenges with animals in any community living situation, however, including allergies or just a lack of affinity for dogs or cats. Whatever the potential challenges, the upsides seem to far outweigh the downsides. For some residents, time with their own pet, daily rounds from a community dog or cat, or weekly therapy visits can be the highlight of their day.

Do you have a loved one who is nearing the need for long-term care or already receiving long-term care? Whether you are looking for a facility that allows pets or not, if you have not done Long-Term Care Planning, Estate Planning or Incapacity Planning (or had your Planning documents reviewed in the past several years), now is the time. Please call The Fairfax Medicaid Asset Protection Law Firm of Evan H. Farr, P.C. at 703-691-1888 to make an appointment for a no-cost consultation. While you are here, you will have the opportunity to meet our delightful Siamese cats, bunny, Betta fish, African dwarf frogs, and dog!

P.S. Don’t forget about your pet! Read our recent post about Pet Trusts and be sure to include them in your planning. In addition, be sure to sign up for our bi-weekly newsletter to read "Critter Corner" each Friday, where our pets answer elder law and estate planning questions.

Estate Planning: These Billionaires will NOT be Leaving their Fortunes to their Children

Several of the world’s billionaires want to spread as much of their wealth as possible before they die, leaving much of their fortunes to charity. Not everyone stands to gain from such selflessness — namely, the children of these generous donors.

The children of these billionaires won't be living large off their inheritances:

1. Warren Buffett: Warren Buffett has pledged to give away99% of his wealth, either during his life or when he dies. He started by promising 83% of it to the Gates Foundation,according to FORTUNE Magazine. Buffett said in his letter to the Gates Foundation: "I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing."

2. Michael Bloomberg: Michael Bloomberg, New York City Mayor, has a net worth of $19.5 billion.  He is an avid philanthropist. In his letter to The Giving Pledge, Bloomberg wrote that "nearly all of my net worth will be given away in the years ahead or left to my foundation." Bloomberg's two daughters, however, may be left to foot the bill upon his death.Bloomberg once said, "the best financial planning ends with bouncing the check to the undertaker."

3. Bill Gates: Bill Gates, Microsoft founder and CEO, is one of the richest people in the world. But he and his wife Melinda aren't interested in keeping their money for themselves, or for their three children. "I knew I didn't think it was a good idea to give the money to my kids. That wouldn't be good either for my kids or society," he told The Sun in 2010.

4. Bernard Marcus: Bernard Marcus, co-founder of the Home Depot, has a net worth of $1.5 billion. Not wanting his kids to inherit large sums of money — for their own good, he told Forbes that he plans on giving the majority of his Home Depot stock to his foundation, which benefits the handicapped and education. 

5. Nigella Lawson: Nigella Lawson, British chef, best-selling author and TV personality, was a millionaire even before she married (and then later divorced) wealthy advertising tycoon and art collector Charles Saatchi. She came under fire for saying, "I am determined that my children should have no financial security. It ruins people not having to earn money." She followed up that statement by saying she didn't plan on leaving her kids "destitute," but stood by the idea that they would have to support themselves after school ended.

The consensus among these billionaires seems to be that leaving their children a fortune would not be in the childrens’ best interests and that inherited wealth often does more harm than it does good. Although these children may not inherit billions, as Ms. Lawson said, they will not be destitute. They will likely have untold opportunities, advantages, and connections, to help them succeed.

Estate planning is not just for the wealthy. Most people have worked their entire life to accumulate their assets.  Everyone needs the peace of mind that comes with making sure their finances are taken care of if they become incapacitated, that decisions about their health care are carried out the way they would like, and that their children and other heirs are taken care of when that time eventually comes (whether or not they have billions to leave to their children or to charity!). If you haven’t started your estate planning or to update your documents, please call 703-691-1888 to make an appointment for a no-cost consultation at The Fairfax Estate Planning Firm of Evan H. Farr, P.C.

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Death Cafés Present a Comfortable Way to Talk about Death

Many people want to discuss death but feel uncomfortable trying to bring the topic up around friends. A growing trend in gatherings, called Death Cafés, is gaining attention for presenting a comfortable way talk about death with others. Death Cafés bring strangers together in a public setting to increase awareness of death, while sipping coffee and eating comfort foods like cake and cookies.

According to The New York Times, Founder Jon Underwood modeled the Death Café concept based on the work of sociologist Bernard Crettaz, who started running Café Mortel get-togethers in 2004 in Switzerland and France. Underwood read an article in 2010 and decided to start holding similar events as part of a range of projects he was doing about death.

Want to run a Death Café? These are some guidelines from the founder. Death Cafés should be:

• Run on a not-for-profit basis, though to be sustainable, one can cover expenses through donations and fundraising • Held in an accessible, respectful and confidential space, free of discrimination, where people can express their views safely. Settings can vary widely and can include cafes, churches, private homes, and community rooms.
• Facilitated with no intention of leading participant towards any particular conclusion, product or course of action • Used to talk about death and dying, and not for bereavement support or grief counseling. People who have experienced a very recent and/or traumatic loss or death are encouraged to seek professional support.
• A place where people consume refreshing drinks and nourishing food – and cake! Comfort foods like cookies and cake counteract the fear that people have about discussing death, allowing them to relax and talk.

 
A free guide is available for download on how to hold a Death Café from the organization’s website, www.DeathCafe.com.

The conversation at Death Cafés typically include medical concerns, advance directives, physician-assisted suicide, financial concerns, wills, funerals, what happens after we die, and many other aspects of living and dying.

Whether or not you have the opportunity or desire to attend a Death Café to talk about the inevitable, it is important to plan for your future and for your loved ones. If you have not done Long-Term Care Planning, Estate Planning or Incapacity Planning (or had your Planning documents reviewed in the past several years), or if you have a loved one who is nearing the need for long-term care or already receiving long-term care, call The Fairfax Medicaid Asset Protection Law Firm of Evan H. Farr, P.C. at 703-691-1888 to make an appointment for a no-cost consultation.

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Understanding Alzheimer’s and Sleeplessness

A recent study found that nearly 15% of people age 71 and older (3.8 million people in the U.S.) suffer from dementia, which includes Alzheimer's and other mental disorders. For caregivers of those with Alzheimer’s, understanding the side effects and how to deal with them is incredibly important, especially when it comes to sleeplessness.

A full night of rest is important for any person in order to stay healthy, but it is even more crucial for those with Alzheimer’s, as it prevents irritability and lowers the chances of disorientation and confusion.

Unfortunately, most individuals with Alzheimer’s don’t get nearly enough sleep. Studies show that as the damage to the brain progresses, the likelihood of sleeplessness increases. This is because the damage done to the brain with this condition actually reverses the natural sleep to wake brain cycle. As a result, Alzheimer's patients often become tired, groggy or sleepy during the day.

This is why it is so important to understand ways to combat sleeplessness in Alzheimer’s patients, whether you are the professional caregiver, helping out, or if you are a friend or loved one. These are some tips:

• Consider getting Alzheimer’s patients on a set regimen. This means avoiding long daytime or afternoon naps, staying away from sugar and caffeine in the evenings and getting them to bed at the same time every night.
• Make sure they understand that the bed is a place for sleep and they should never be eating, resting, reading or watching television in bed.
• Before going to sleep, try implementing a relaxing night time ritual that includes activities such as taking a long bath or listening to gentle music, instead of watching television or engaging in other stimulating activities.

Small changes such as this can go a long way in helping someone with Alzheimer's disease get on a schedule, and the benefits of a better night rest can be instrumental in managing Alzheimer's disease.

 

Do you have a loved one who is suffering from Alzheimer’s? Persons with Alzheimer’s and their families face special legal and financial needs. At The Fairfax Alzheimer’s Planning Firm of Evan H. Farr, P.C., we are dedicated to easing the financial and emotional burden on those suffering from Alzheimer’s and their loved ones.  If you have a loved one who is suffering from Alzheimer’s, we can help you prepare for your future financial and long-term care needs.  We help protect the family’s hard-earned assets while maintaining your loved one’s comfort, dignity, and quality of life by ensuring eligibility for critical government benefits. Call 703-691-1888 to make an appointment for a no-cost consultation.

 

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Certified Elder Law Attorney and Best-Selling Author Evan Farr is Named to the 2014 Best Lawyers in America List

Certified Elder Law Attorney Evan H. Farr has been named to the 2014 list of Best Lawyers in America, for the practice area of Trusts and Estates.Best Lawyers is one of the oldest and most respected peer-review publications in the legal profession.

Best Lawyers has published their list for over three decades, earning the respect of the profession, the media, and the public as the most reliable, unbiased source of legal referrals. Its first international list was published in 2006 and since then has grown to provide lists in over 65 countries.

Lawyers on the Best Lawyers in America list are divided by geographic region and practice areas. They are reviewed by their peers on the basis of professional expertise, and undergo an authentication process to make sure they are in current practice and in good standing. The methodology is designed to capture, as accurately as possible, the consensus opinion of leading lawyers about the professional abilities of their colleagues within the same geographical area and legal practice area.

Phillip S. Greer, Chief Operating Officer of Best Lawyers, personally wrote to Mr. Farr, “I would like to congratulate you again on having been selected by your peers for inclusion in the 20th Edition of Best Lawyers in America for the practice area of Trusts and Estates.”

Read the press release.

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