Let's say you have a Power of Attorney. That means you're covered should circumstances ever arrise in which the POA would need to be invoked, right? Not necessarily. In fact, POAs now must be more specific than ever in Pennsylvania due to a recent law change. A cookie-cutter document likely won't cover all possible scenarios, or even all of the more common situations we see in our day-to-day work.
In the Second Half of Life Podcast episode 48, which is just over five minutes long, Attorney Jenna Franks and Long-Term Care Planner Kristin Daugherty talk about the importance of not only have a Power of Attorney, but also that the document is done correctly and accounts for all reasonably possible situations. Kristin also gives an example of something that all financial POAs should have and if they don't, could create a major problem when trying to protect assets from long-term care costs.
Steinbacher, Goodall & Yurchak, an elder law and special needs law firm with locations in State College, Williamsport, Wyalusing and Wysox, is pleased to announce the addition of Chris Bradley to its staff as an associate attorney. A double graduate of Duquesne University for both undergraduate and law school, Chris will work out of the firm's Williamsport office and assist in all three of the law firm's departments - wealth protection and planning, long-term care planning, and estate administration.
Chris comes to SGY from the law firm of Rieders, Travis, Humphrey, Waters & Dohrmann in Williamsport, where he served as an associate attorney since 2019 and worked in the practice areas of personal injury, medical and hospital malpractice and commercial litigation. Prior to that, he was an associate attorney at Duvall, Reuter & Pruyne in Towanda, where he focused on real estate, estate administration, planning and litigation. He began his legal career as a law clerk to the Hon. Maureen T. Beirne in the Bradford County Court of Common Pleas.
A bad fall, stroke, dementia diagnosis, or other unexpected illness are things beyond one's control that could create a need for nursing home care or another type of necessary care, such as in-home — either temporarily or for the long term. But are you prepared for the financial ramifications of required long-term care, either for yourself or a loved one?
In the Second Half of Life Podcast episode 47, Attorney Jenna Franks and Long-Term Care Planner Kristin Daugherty discuss legal strategies that are available to everyone to help minimize the financial and emotional impact of a healthcare crisis. Among the topics they discuss are what long-term care insurance covers, what both Medicaid and Medicare pay towards the cost of long-term care, how you can protect your home and other assets from the rising cost of long-term (hint: it's best to start planning early while you're still in good health in order to get the best results), and what you can do if you're currently in a crisis or a loved one is already in a nursing home and you haven't pre-planned.
All episodes of the Second Half of Life Podcast can be found on the Steinbacher, Goodall & Yurchak website, as well as on most podcast directories, which includes Apple Podcasts, Spotify, TuneIn + Alexa, iHeartRadio, Stitcher, Podcast Addict, Google Podcasts, Podchaser, Deezer, Listen Notes, Bullhorn, Overcast, Pocket Casts, Castro, Castbox, Podfriend, Player FM, Podcast Index and Pandora.