Business Succession Planning - NAEPC Webinar
NAEPC Webinar: Help Your Clients Keep Control of their Lives and Money if they Become Incapacitated in Later Life (Or in Their Younger Years)
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 Peter J. Strauss, Esq., a pioneer in the Elder Law movement, and the 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.
Peter J. Strauss is Senior Partner at Pierro, Connor & Strauss, headquartered in its New York office. He has practiced trusts and estate law since 1961 and has special expertise in the legal problems of aging and persons with disabilities, end of life issues and the capacity of persons with disabilities to execute legal documents with respect to health care.
Mr. Strauss is a founding member of the National Academy of Elder Law Attorneys, a Fellow of the American Academy of Trust and Estate Counsel (ACTEC) and Distinguished Adjunct Professor of Law at the New York Law School, where he teaches Elder Law and is director of the guardianship clinic.
He has been selected by his peers for inclusion in the 2023 edition of The Best Lawyers in America for three practice areas: Elder Law, Litigation - Trusts and Estates, and Trusts and Estates; it is his 15th year of this recognition. He is the 2022 recipient of the National Academy of Elder Law Attorneys "Theresa Award," given annually by the Theresa Alessandro Russo Foundation to recognize an attorney for outstanding achievements, efforts and advocacy for individuals with disabilities. Mr. Strauss was also the recipient of the New York State Bar Association “2019 Attorney Professionalism Award,” given to one attorney in the State each year. He has been honored from 2007 to 2019 as one of the New York Metropolitan area’s “Best Lawyers,” and “Super Lawyer” from 2007 to 2016.
Mr. Strauss is a prolific author and has written articles for various publications including the New York Law Journal and Bottom Line Personal and has addressed many national professional and consumer organizations. He is the author of the consumer book, “The Complete Retirement Survival Guide: Everything You Need to Know to Safeguard Your Money, Your Health and Your Independence,” (Facts-on-File, Inc. 2003).
Mr. Strauss presently serves on the Executive Committee of the Elder Law & Special Needs Section of the New York State Bar Association, the Board of Directors of End of Life Choices New York and JALBCA (Judges & Lawyers Breast Cancer Alert) and the Steering Committee of the Louis Armstrong Center for Music and Medicine.
