On July 2, 2014, Pennsylvania Gov. Tom Corbett signed into law Act 95 of 2014 which makes substantial changes to Pennsylvania’s power of attorney law.
A power of attorney (POA) is a document which gives you the authority to appoint an agent to make both financial and health care decisions on your behalf if you become disabled or incapacitated. It is a very important legal document.
Under the new law, when you prepare your POA, it must be witnessed by two individuals and notarized.
Additionally, there are changes to the current notice and acknowledgment pages. As the person making the POA, you sign the notice page. The notice page informs you of the broad powers you are giving to your agent. The acknowledgment page must be signed by your agent before he or she uses the power of attorney. By signing, your agent agrees to act in your best interests, in good faith, and only within the scope of authority given the agent in the POA.
Continue Reading Pennsylvania’s New Power of Attorney Law
A Solution for Keeping Your Elderly Parent at Home
“There’s no place like home.” Dorothy’s remembrance in the Wizard of Oz immediately brings to mind our own cherished abode. Yet, as your parents age, they may not be able to live in their homes without the assistance of family members. The assistance you provide to your parents (such as cooking, cleaning, paying bills, medication schedules, etc.) is often the critical difference between their staying in their home or moving to a nursing home. Given the high cost of nursing home care ($7,500 to $10,000 per month) and the current economic climate, paying you to provide care to your parents can be a win-win solution.
When you provide care to a parent, you may need to cut back on your work schedule, or, ultimately, leave your job altogether. In turn, your parent may compensate you for your time and loss of income. This arrangement may be a viable solution for both parent and child. However, payments made to you, without a written caregiver agreement in place, may result in a period of ineligibility for Medicaid benefits for your parents. Please note, caregiver agreements may also be entered into between other family members or persons unrelated to the person requiring care. Continue Reading Family Caregiver Agreements