The Associates of Vietnam Veterans of America Chapter 1015 hosting an Elder Law Town Hall Wednesday to provide clarity on powers of attorney and asset management for caregivers and veterans.
President Sherri Teepen said the event is to ensure families understand the legal requirements and necessary next steps if a loved one’s health conditions worsen.
“They don’t realize that all their assets can be literally gobbled up by a nursing home or memory care facility,” Teepin said, “And I think that’s the biggest misconception. Well I’ve got a will, my beneficiaries are my children, and they’re going to get everything. No contraire.”
Teepen said the legal landscape is further complicated by the fact that different branches of the Department of Veterans Affairs do not always communicate regarding benefits, healthcare, and cemeteries. Teepen said the town hall aims to address these nuances so spouses and caregivers do not feel overwhelmed when a family member requires professional care.
“It’s scary for most spouses because they don’t know what to do next,” Teepen said. “That’s why we decided to have this town hall.”
Teepen said many widows she has encountered were unprepared for the options available to them because they did not know which questions to ask. Teepen said the event is designed for anyone concerned about their family or the potential complications left behind for their children.
Teepen said families often try to protect their homes by adding children to the deed, which can lead to significant tax implications for the heirs.
“No matter how clean you think you’ve got it, things aren’t always clean,” Teepen said. “There’s always stuff.”
Teepen said the presentation will clarify the differences between wills and trusts, including how to protect retirement programs and life insurance. Teepen said it is vital for adult children to attend with their parents so they can learn how to navigate notifications for Social Security, lenders, and mortgage holders.
“I hope they’ll leave with a little more knowledge than they had coming in and that they will have, they’ll be able to be more knowledgeable and less stunned when something happens to their loved one,” Teepen said. “Less in the fog as it were, that they’re more wide-eyed and open to the suggestions that are being made.”
The town hall takes place Wednesday beginning at 10am at the Cumberland County Fairgrounds at 1398 Livingston Road in Crossville. Teepen said attendees should bring specific “what-if” questions to ask the board-certified Tennessee attorney and asset protection manager who will be leading the session.
Teepen said the organization plans to continue hosting frequent town halls, with the next event scheduled for September 23.
