As people get older, they often need to rely on others for various kinds of help and are more likely to suffer from Alzheimer's disease or other forms of dementia. Consequently, as people age, they are more vulnerable to being financially taken advantage of, sometimes even by people they trust. A recent study by AARP estimates that financial exploitation costs adults aged 60 and older $28.3 billion annually.[1] Fortunately, there are some proactive steps that can be taken to prevent financial abuse before it occurs. In addition, older people and the family members and friends acting on their behalf have protective and remedial actions available if they discover that financial abuse has occurred.

To properly assist clients, elder law attorneys must juggle knowledge of a number of different public benefits programs, many of which have unique eligibility requirements. Additionally, with multiple planning strategies and instruments available to assist clients with public benefits, attorneys must also stay apprised of their distinctions. This blog is intended to provide both a definitional foundation and an up-to-date reference for the current year’s figures. It is best used as a supplement to your own research; it is not intended to be, and should not be considered, legal advice. 

 Medicaid

A needs-based, means-tested government healthcare assistance program administered jointly by federal and state governments.