CENTRAL FLORIDA ESTATE PLANNING COUNCIL, INC.

Americans are aging dramatically. The 2020 census shows 16.8% - 56 million - are over 65. Six million of us are over 85, and over 100,00 are over 100! Science and medical miracles are creating a growing population of the “oldest old.” That’s the good news.

But the bad news is that at age 85, 50% of all older Americans need significant assistance in daily functioning. No speed walking, hiking or golf for them. Many cannot feed, dress, bath or toilet themselves, or pay their bills without assistance caused by stroke, Parkinson’s disease, ALS or dementia - requiring costly full-time care to assist in performing “activities of daily living” (ADLs). This care is considered to be “custodial” not “skilled,” costs not covered by Medicare. Individuals often become impoverished. So how do we pay for long-term care?

At-risk seniors face other problems, not just financial ones. Who manages financial affairs if a client is incapacitated? Who makes health care decisions? Who decides whether treatment at the end of life, such as tube-feeding, invasive surgery, or kidney dialysis, should be provided or withheld? How can an incapacitated client ensure decision makers will carry out his or her wishes?

Unfortunately, most clients have not executed the necessary advance directives to manage financial affairs or make health care decisions. Elder Law is the law practice specialty that focuses on solutions to these problems: “life planning,” creating a legal structure to be managed by trusted fiduciaries who can protect the client’s autonomy to the greatest extent possible.

You are invited to attend this webinar to learn about effective and practical legal planning for later life and how Louis W. Pierro and Peter J. Strauss, elder law attorneys at Pierro, Connor & Strauss, LLC, advise clients regarding the issues of aging and incapacity, the legal documents and strategies to meet these challenges and ways to protect assets and pay for long term care.

Louis W. Pierro, Esq., is the Founding Partner of Pierro, Connor & Strass, LLC, a law firm with offices in New York City, Albany and additional locations in New York, Florida, New Jersey and Massachusetts. His Firm serves clients in the areas of Estate and Trust Planning, Estate and Trust Administration, Estate and Trust Litigation, Business and Tax Planning, Elder Law and Special Needs Planning. Mr. Pierro is also a Founder of ElderCounsel, a national membership organization of Elder Law and Special Needs law firms, where he now serves as a consultant. It provides proprietary document drafting software and education to over 1400 member firms in 50 states. He is currently a member of the National Academy of Elder Law Attorneys; the American Bar Association, Probate and Trust Section; the NYS Bar Association Trusts and Estates (past Chair, Committees on Taxation and Estate Planning) and Elder Law Sections (past Chair); and the Albany County Bar Association.

*Note: Continuing education for this presentation is provided for Attorneys (CLE), Certified Financial Planners (CFP), and Certified Public Accountants (CPA). CE is only available for members.