I have found the vast majority of seniors are unprepared when it comes to their long-term care. Even healthy seniors should prepare themselves for a possible transition.
Westchester County, NY (PRWEB) May 08, 2013
Elder law attorney Anthony J. Enea, managing partner at Enea, Scanlan & Sirignano, LLP in White Plains, N.Y., recently addressed the critical importance of long-term planning for seniors in a panel discussion at the 2013 Spring Forum of the Financial Planning Association New York Chapter. Currently the Chair of the New York Bar Association’s Elder Law Section, Enea advises seniors to take a proactive role in planning for their future.
“I have found the vast majority of seniors are unprepared when it comes to their long-term care,” said Anthony Enea. “While most seniors have executed a Last Will and Testament or a Revocable Living Trust, the majority hasn’t taken any steps to protect their life savings from the significant costs of future care – either at home or in a nursing home. Even healthy seniors should prepare themselves for a possible transition.”
The panel discussion, “Critical Issues Facing Senior Clients,” featured Anthony Enea alongside two other experts in the field – Fay Radding of MetLife Mature Market Institute and Geriatric Care Manager Rita Golub. Moderated by Jonathan Pont, CFP, the panel marked the latest speaking engagement for Enea, a Somers resident who has spent nearly three decades protecting the rights of seniors and the disabled.
“With the average monthly cost of a nursing home in Westchester being approximately $14,000 to $15,000 per month, failure to plan ahead can have devastating financial consequences,” Enea added. “Two documents of great importance to seniors as they age are the Durable General Power of Attorney and Health Care Proxy. Even if one or both of these have been executed, they are oftentimes not sufficiently broad to allow the agent to engage in long-term care planning if the senior is cognitively impaired. The execution by the senior of a sufficiently broad POA and a HCP will alleviate significant potential problems for both the senior and his or her family.”
A frequent guest speaker for the Westchester County and New York State Bar Associations, Enea speaks regularly at public and private organizations across the region. His practice areas include elder law; Medicaid planning and applications; wills, trusts and estates; guardianships and estate litigation.
“A number of specific options are available to seniors wishing to protect their assets from the cost of long-term care,” he said. “Purchasing long-term care insurance can help finance the cost of in-home or nursing home care. Utilizing a Medicaid Asset Protection Trust is another way to protect one’s home and savings. Both options afford seniors a greater level of control over their potential exposure to the cost of long-term care.”
Comprised of 24,000 members, the Financial Planning Association is a national membership organization for the financial planning community committed to the highest standards of professional and public education. Among those invited to speak at the New York Chapter’s Spring Forum, held this year at the JP Morgan Chase Conference Center, were leading professionals from financial disciplines such as financial planning, insurance, securities, accounting, law, charitable giving, trusts and banking.
“Anthony’s knowledge and experience in elder law is extremely impressive,” said Brian Cummins, CFP and member of the Financial Planning Association. “At a time where many of the boomer generation are preparing for their later years, his service should prove to be invaluable. As a financial planner, I most definitely plan on looking to him for guidance with my clients whenever the need arises.”
A strong leader in the Westchester legal community, Anthony Enea was recently named Westchester’s “Above the Bar” Leading Elder Care Attorney for 2013. He is a member of the Council of Advanced Practitioners of the National Academy of Elder Law Attorneys and is on the Guardianship Advisory Committee of the Office of Court Administration for the State of New York. Enea is a past president of the New York Chapter of the National Academy of Elder Law Attorneys, the former Editor-in-Chief of the “Elder Law Attorney” of the New York State Bar Association’s Elder Law Section, and has contributed extensively to newsletters for the Westchester County and the New York State Bar Associations.
Enea, Scanlan & Sirignano, LLP is located at 245 Main Street in White Plains, N.Y. with additional offices in Somers, N.Y. Elder law attorney Anthony J. Enea can be reached at 914-595-4081 or aenea(at)aol(dot)com. For the latest news, visit Enea, Scanlan & Sirignano online at http://www.esslawfirm.com.
About Enea, Scanlan & Sirignano, LLP
Enea, Scanlan & Sirignano, LLP is an AV preeminent rated elder law firm with offices in White Plains and Somers, N.Y. The practice concentrates on Elder law; Medicaid Planning, Applications and Law; Medicare Law; Wills, Trusts and Estates; Guardianships; Estate Litigation; Supplemental Needs Trusts; and Special Needs Planning. Enea, Scanlan & Sirignano, LLP serves Westchester, Rockland, Putnam, the Bronx, Manhattan, Long Island and Queens and is committed to providing the highest quality legal services to seniors and the disabled. Visit the firm online at http://www.esslawfirm.com and http://www.westchesterseniors.com.