Even more real is the danger posed by many caregivers who seek to take financial advantage. Retired emeritus professor John Wilson (not his real name) needed supplemental care in his life care community. He came to rely upon and trust a caregiver who was with him 40 hours per week. His trust was misplaced.

Over the period of two months, she used his credit card, had him sign checks made out to her for thousands of dollars, and forged his signature on other checks to pay for items that she purchased. In a short time, losses exceeded $60,000.

Professor Wilson was fortunate in that his care and finances were being monitored. The caregiver was fired, the agency reimbursed a portion of the funds, and other funds were recovered by other means. All estimates are that millions of dependent older Americans are victimized by this form of financial abuse every year.

To address, to reduce the possibility of financial elder abuse, much greater care must be taken when older Americans identify “attorneys in fact” when they sign Durable Powers of Attorney and when they choose successor trustees for their revocable trusts. Too few understand that individuals given such powers are in a position to misappropriate finances and otherwise take financial advantage. “A great disservice is done by online trust creators, such as LegalZoom,” warns Palo Alto attorney Mark Gerson Gilfix, “because they offer no counseling or effectively conveyed warnings about the need for an extremely conscientious and responsible person to serve in these roles.

Financial elder abuse is a plague that shows no signs of abating. Great care must be taken in choosing private caregivers, in particular, and carefully monitoring the financial affairs of vulnerable elders.

Pioneers of Elder Law – For over 30 years, Gilfix & La Poll Associates LLP has innovated creative legal solutions to help you manage and plan the future of your estate.
To contact an estate planning lawyer visit http://www.gilfix.com/ or call 800.244.9424.

Even more real is the danger posed by many caregivers who seek to take financial advantage. Retired emeritus professor John Wilson (not his real name) needed supplemental care in his life care community. He came to rely upon and trust a caregiver who was with him 40 hours per week. His trust was misplaced.

Over the period of two months, she used his credit card, had him sign checks made out to her for thousands of dollars, and forged his signature on other checks to pay for items that she purchased. In a short time, losses exceeded $60,000.

Professor Wilson was fortunate in that his care and finances were being monitored. The caregiver was fired, the agency reimbursed a portion of the funds, and other funds were recovered by other means. All estimates are that millions of dependent older Americans are victimized by this form of financial abuse every year.

To address, to reduce the possibility of financial elder abuse, much greater care must be taken when older Americans identify “attorneys in fact” when they sign Durable Powers of Attorney and when they choose successor trustees for their revocable trusts. Too few understand that individuals given such powers are in a position to misappropriate finances and otherwise take financial advantage. “A great disservice is done by online trust creators, such as LegalZoom,” warns Palo Alto attorney Mark Gerson Gilfix, “because they offer no counseling or effectively conveyed warnings about the need for an extremely conscientious and responsible person to serve in these roles.

Financial elder abuse is a plague that shows no signs of abating. Great care must be taken in choosing private caregivers, in particular, and carefully monitoring the financial affairs of vulnerable elders.

Pioneers of Elder Law – For over 30 years, Gilfix & La Poll Associates LLP has innovated creative legal solutions to help you manage and plan the future of your estate.
To contact an estate planning lawyer visit http://www.gilfix.com/ or call 800.244.9424.

About 11% of today’s 40 million Californians are 65 or older. By 2020, that population will be 15%. By 2030, it will be almost 20% and a staggering 22.3% by 2050. What are the implications of this?

A recent column by Dan Walters in the Sacramento Bee warns about the aging of health care providers in California. The column astutely warns that we have an aging population that will present unprecedented demands for services and support from our medical and caregiving infrastructures. Even today there is a shortage of trained, capable caregivers through home care agencies, at assisted living facilities, and in skilled nursing facilities. It will only get worse in the future. It is a looming crisis for all who need long-term care facilities and services.
 
“To rise to this challenge,” suggests estate planning and elder law attorney Michael Gilfix of Palo Alto, California, “we need a new, coordinated, multigenerational approach.” His focus is on the need for more coordination of services and more tailored, focused use of limited family resources. Careful planning to preserve assets and qualify for Medi-Cal, the only program that can pay all or most of the cost of skilled nursing care, must be part of the planning. Medi-Cal, California’s Medicaid program, is needs-based. To qualify, assets must be limited and/or carefully organized. 

This approach is necessary, Gilfix suggests, because there must always be a financial safety net. If all family assets are exhausted before Medi-Cal coverage is obtained, there are no funds available to pay for services that are not covered by the Medi-Cal program.

Children and grandchildren must be viewed as part of the planning and part of the solution. They must participate, coordinate resources, add counsel, and devote time and attention to the needs of their elders. It is self-evident that this is typically a win-win for everyone, but it is rarely done. 
 
Such planning is more typically pursued by wealthier families through the use of “family offices,” but the need is no less critical for the middle class. Middle class families have the power to preserve their homes, their savings, and their legacies. But they must take steps to plan ahead of time.

Attorneys Michael Gilfix and Mark Gerson Gilfix recently co-authored an article entitled, “A New Paradigm: Truly Multigenerational Planning,” published in the September issue of Trusts & Estates magazine, that expands this concept in very practical ways. Gilfix & La Poll Associates, one of the nation’s leading estate planning firms, follows this approach with its clients. For multigenerational planning to be effective, it is critical that steps are taken before the crisis stage.
 
The Gilfix & La Poll Team

Pioneers of Elder Law – For over 30 years, Gilfix & La Poll Associates LLP has innovated creative legal solutions to help you manage and plan the future of your estate. To contact an estate planning lawyer visit www.gilfix.com or call 800.244.9424.

Several hundred people attended — it was wonderful to connect with so many in our community.

The audience was fantastic — you asked us many excellent questions as we covered severeal sophisticated and sometimes confusing topics, including: the importance of a properly structured living trust, estate tax planning, protecting assets and becoming eligible for Medi-Cal, special needs planning and how multigenerational estate planning can bring families together.

We hope that everyone who attended gained a better understanding of the many planning issues that families face. And we hope that everyone had a good time!

If you were unable to attend, or if you attended and would like to start your own estate planning process, please do not hesitate to contact our office to set an appointment. We are here for you and your family.

We were honored to have so many in our community join us for these events.

A big “thank you” from all of us at Gilfix & La Poll, and we hope to see you soon!

—Mark Gilfix, Esq.

Several hundred people attended — it was wonderful to connect with so many in our community.

The audience was fantastic — you asked us many excellent questions as we covered severeal sophisticated and sometimes confusing topics, including: the importance of a properly structured living trust, estate tax planning, protecting assets and becoming eligible for Medi-Cal, special needs planning and how multigenerational estate planning can bring families together.

We hope that everyone who attended gained a better understanding of the many planning issues that families face. And we hope that everyone had a good time!

If you were unable to attend, or if you attended and would like to start your own estate planning process, please do not hesitate to contact our office to set an appointment. We are here for you and your family.

We were honored to have so many in our community join us for these events.

A big “thank you” from all of us at Gilfix & La Poll, and we hope to see you soon!

—Mark Gilfix, Esq.

Attorney and radio personality Len Tillem has been invited to speak at the event as a special guest during the 2:30 to 4:30 pm session. There will also be a second session of the same seminar from 7 to 9 pm.

Gilfix, who has authored over 50 books and articles, will address a range of estate planning topics including how living trusts address your asset protection needs and how to protect the assets you leave for your children from divorce, litigation and estate tax exposure.

He will provide useful information on protecting your home and other assets in the face of long-term care for you or your parents. Gilfix will also discuss how special needs trusts can provide a lifelong safety net for your special needs child without losing out on public benefits.

Those interested in attending the seminar are encouraged to call 650-493-8070 or register online at www.gilfix.com.

The Gilfix & La Poll Team

Pioneers of Elder Law – For over 30 years, Gilfix & La Poll Associates LLP has innovated creative legal solutions to help you manage and plan the future of your estate. To contact an estate planning lawyer visit www.gilfix.com or call 800.244.9424.

Attorney and radio personality Len Tillem has been invited to speak at the event as a special guest during the 2:30 to 4:30 pm session. There will also be a second session of the same seminar from 7 to 9 pm.

Gilfix, who has authored over 50 books and articles, will address a range of estate planning topics including how living trusts address your asset protection needs and how to protect the assets you leave for your children from divorce, litigation and estate tax exposure.

He will provide useful information on protecting your home and other assets in the face of long-term care for you or your parents. Gilfix will also discuss how special needs trusts can provide a lifelong safety net for your special needs child without losing out on public benefits.

Those interested in attending the seminar are encouraged to call 650-493-8070 or register online at www.gilfix.com.

The Gilfix & La Poll Team

Pioneers of Elder Law – For over 30 years, Gilfix & La Poll Associates LLP has innovated creative legal solutions to help you manage and plan the future of your estate. To contact an estate planning lawyer visit www.gilfix.com or call 800.244.9424.

On September 10, 2015, attorneys Michael Gilfix and Mark Gilfix of Gilfix & La Poll Associates presented a seminar on living trusts and asset protection in the face of long-term care.

The workshop was held in partnership with the Avenidas Senior Center in Palo Alto, California. Titled “Your Estate Planning and Long-Term Care Checkup – Do You Have a Plan?,” it provided up-to-date information about estate planning.

Attendees were encouraged to bring in questions about their living trusts. Estate planning attorneys Michael Gilfix and Mark Gilfix shared their expertise on how to protect inherited assets for divorce, litigation and estate taxes, as well as how to protect your home and other assets while qualifying for Medi-Cal. They also discussed the pros and cons of reverse mortgages.

The seminar covered a wide range of estate planning topics such as the basic estate planning documents that you need, the cost of skilled nursing care and the importance of multigenerational planning.

Michael Gilfix and Mark Gilfix are the co-authors of an article titled “A New Paradigm: Truly Multigenerational Planning” in the September 2015 issue of Trusts & Estates magazine. They have also co-authored “Facing the Reality of Long-Term Care,” a book explaining the nature and cost of long-term care.
 
For over 30 years, Gilfix & La Poll Associates LLP has innovated creative legal solutions to help you manage and plan the future of your estate.

Pioneers of Elder Law – For over 30 years, Gilfix & La Poll Associates LLP has innovated creative legal solutions to help you manage and plan the future of your estate.
To contact an estate planning lawyer visit http://www.gilfix.com/ or call 800.244.9424.

On September 10, 2015, attorneys Michael Gilfix and Mark Gilfix of Gilfix & La Poll Associates presented a seminar on living trusts and asset protection in the face of long-term care.

The workshop was held in partnership with the Avenidas Senior Center in Palo Alto, California. Titled “Your Estate Planning and Long-Term Care Checkup – Do You Have a Plan?,” it provided up-to-date information about estate planning.

Attendees were encouraged to bring in questions about their living trusts. Estate planning attorneys Michael Gilfix and Mark Gilfix shared their expertise on how to protect inherited assets for divorce, litigation and estate taxes, as well as how to protect your home and other assets while qualifying for Medi-Cal. They also discussed the pros and cons of reverse mortgages.

The seminar covered a wide range of estate planning topics such as the basic estate planning documents that you need, the cost of skilled nursing care and the importance of multigenerational planning.

Michael Gilfix and Mark Gilfix are the co-authors of an article titled “A New Paradigm: Truly Multigenerational Planning” in the September 2015 issue of Trusts & Estates magazine. They have also co-authored “Facing the Reality of Long-Term Care,” a book explaining the nature and cost of long-term care.
 
For over 30 years, Gilfix & La Poll Associates LLP has innovated creative legal solutions to help you manage and plan the future of your estate.

Pioneers of Elder Law – For over 30 years, Gilfix & La Poll Associates LLP has innovated creative legal solutions to help you manage and plan the future of your estate.
To contact an estate planning lawyer visit http://www.gilfix.com/ or call 800.244.9424.

As the program has grown, we wanted to thank our members with a celebration. Shanna Gilfix, a professional musician (see one of her original songs, with over 500,000 views, here) and administrator of the Peace of Mind program, and Myra Gerson Gilfix performed live music. Wine and cheese were also served at a wonderful event. Many of our clients sang along to classic tunes, and we are hopeful that all attendees had a fantastic time. We certainly did!

The “Peace of Mind” program has been extraordinarily popular, and it is exclusively available to our trust clients. A 2 year membership includes annual 1 hour free consultations with our attorneys, exclusive free seminars on topics related to estate, long term care, and tax planning, and discounted legal services. If you would like to learn more, please visit http://www.gilfix.com/peace-of-mind/.

“Many people are overwhelmed by long-term care costs, which are not covered by typical health insurance plans,” said Michael Gilfix, an elder law attorney in Palo Alto. “Life settlement firms offer to help, but the industry is still relatively small and not rigorously regulated.”

By selling one’s policy to a life settlement company, it is possible to get cash flow from a policy that otherwise does not have an immediate cash value. The policyholder gives up ownership of the policy but receives money to use for long-term care expenses. In addition, the policy is no longer considered an asset that can interfere with Medicaid/Medi-Cal eligibility.

“Since you forfeit ownership of the policy and lose its value, life insurance settlement is more appropriate for people who do not have dependents or a spouse who will need the support,” said Gilfix.

The value of a policy is based on calculations such as the policyholder’s age, medical history and the value and type of the policy. Most people receive somewhere between 20 to 45 percent of the policy’s value, but the rate can be higher or lower.

The life settlement industry is still small, with companies like The Lifeline Program converting only a few hundred policies each year. The industry is also relatively unregulated, and only a few states have enacted regulations, including California.

The office of Gilfix & La Poll can refer interested individuals to professionals who can advise about life settlements.

Pioneers of Elder Law – For over 30 years, Gilfix & La Poll Associates LLP has innovated creative legal solutions to help you manage and plan the future of your estate.
To contact an estate planning lawyer visit http://www.gilfix.com/ or call 800.244.9424.

Read the full 7×7 interview here..

A special needs trust can provide lifelong financial security for a special needs individual without disturbing eligibility for public benefits. As a vital supplement to public benefits, special needs trusts can pay for items and services that public benefits do not cover.

This well-attended seminar presents the most up-to-date information about special needs trusts, the ways in which special needs individuals can benefit, and how families can best approach creating and maintaining a trust for a special needs individual.

In addition, the seminar will cover the latest information about government benefits, housing, the recently-passed ABLE Act, and a number of other topics important to families of special needs individuals.

The seminar will be held at the Crowne Plaza Cabana in Palo Alto. Specific information and online registration can be found on the Gilfix & La Poll Events page.

The seminar is regularly co-sponsored by notable organizations including Autism Society San Francisco, Institute on Aging, Fremont Bank, Morgan Autism Center, Jewish Family and Children’s Services, Life Services Alternatives, and the Pacific Autism Center for Education (PACE). A number of these organizations will be in attendance and available to provide information about services at both sessions of the seminar.

Pioneers of Elder Law – For over 30 years, Gilfix & La Poll Associates LLP has innovated creative legal solutions to help you manage and plan the future of your estate.
To contact a special needs planning lawyer visit http://www.gilfix.com/ or call 800.244.9424.

Gilfix and La Poll associates would like to thank the attendees of our very successful seminars about estate planning and long term care in Palo Alto on October 14th. Our audiences were large and highly engaged, and they asked great questions.

We are hopeful and confident that they got highly valuable information that will serve them and their families well. The subjects we covered help to provide peace of mind and can save families hundreds of thousands or even millions of dollars.

We received some wonderful comments from attendees…

Missed our seminar?

Keep an eye out for upcoming seminars, or contact us if you have any questions about your own estate planning or long term care questions or issues.

The playground will be called “Magical Bridge” and will be located on 1.28 acres of land between Adobe Creek and Mitchell Park’s southern-most tennis courts. The park will have 15 zones that will accommodate the needs of all kinds of children. The intent of the park is to “bridge the gap between those with and without disabilities,” said Olenka Villarreal, a founding member of the “Friends of the Magical Bridge” organization.

There are an estimated 11,000 people with some sort of disability in Palo Alto. But not one of the 34 parks throughout Palo Alto had the equipment necessary for Villareal’s daughter to play (she has an intellectual disability and lacks the upper body strength to hold on to the chains of playground swings). In 2009, this need inspired Villarreal to find funding for a play area to cater to the special needs of all children in the community.

Villarreal set out to find someone who could set aside land for the park. Funding poured in from a variety of sources, including lemonade stands and a $1 million matching grant from the Peery Foundation (a philanthropic organization out of Palo Alto which aims to fund organizations that fight poverty and other ill effects in the community). All told, Villarreal raised $3 million for the park’s construction. The park will be handed over to the City of Palo Alto once construction is completed.

An official with Palo Alto’s community Services Department said the support for Magical Bridge has caused the city to address the lack of accessibility in existing public spaces, including the lack of wheelchair ramps and toddler bucket swings at Eleanor Pardee Park.

“It’s exciting to see the community unite over something that benefits children of all needs and stages of development,” said Michael Gilfix, a special needs trusts attorney with Gilfix La Poll Associates in Palo Alto. “While I wish something like Magical Bridge already existed in every city across the United States, I’m glad that Palo Alto is innovating change and focusing on the needs of all children.”

Villarreal said that she hopes that once Magical Bridge is created, it will prove successful enough to influence the building of similar parks across the nation. The park is expected to open in November.

“We want to celebrate abilities, not disabilities … It still astounds me that we are building the first place to address the many different play needs of the many different kinds of children who live in our community,” said Villarreal.

Pioneers of Elder Law – For over 30 years, Gilfix & La Poll Associates LLP has innovated creative legal solutions to help you manage and plan the future of your estate.
To contact a special needs planning lawyer visit http://www.gilfix.com/ or call 800.244.9424.