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Elder Law > Study > Flashcards

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1
Q

How much can you deposit in a 401k

A

17500

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2
Q

You can play catch up if you are over 50 and playing catch up…

A

deposit 5 thousand more

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3
Q

1041 and 541

A

Tax forms when you are filling the out to benefit someone

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4
Q

A Ponzi Scheme is

A

An investment scheme promising high returns

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5
Q

Are notaries required to report elder abuse

A

No

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6
Q

Who is required to report elder abuse

A

Doctors, healthcare professionals, police, and social services

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7
Q

Aid and Attendence

A

Veteran aid for in home care not necessarily skilled nursing. It gives you an extra 2085 dollars to pay for care

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8
Q

Custodial Care

A

None medical care for assistance with daily activities

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9
Q

Intestate

A

Without a will

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10
Q

Bed hold

A

A nursing facility keeps a bed on hold so a person return to the home after a hospital visit

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11
Q

Separate Property

A

Acquired before message

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12
Q

Probate

A

Court process of proving the will and acting upon the will. If there is no will then they will look into the probate code to determine the proper action

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13
Q

Administrator

A

Person appointed to manage the estate without the will, if there is a will this person is called the executor

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14
Q

Executor

A

Person who manages the estate if there is a will

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15
Q

Abandonment

A

Not checking in on, or neglecting an elder

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16
Q

Jurisdiction

A

Power of the court to hear a case

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17
Q

Venue

A

Location of the actual court

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18
Q

Divorce

A

The dissolution of marriage

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19
Q

holographic

A

(for wills) it is a handwritten will

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20
Q

Emotional Abuse

A

When a person torments a person and their emotions through threats or insults or abandonment

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21
Q

Independent Contractor

A

Someone who is not an actual employee and they have to fill out a 1099

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22
Q

Equity

A

Increased value over debt.

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23
Q

Test. Trust

A

A trust created in a will

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24
Q

Fiduciary

A

Someone who manages property and has an obligation to invest conservatively

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25
Reciprocal
Usually for husband and wife, the wills mirror each other
26
CASA
Court Appointed Special Advocate for a minor
27
Para-transit
Transportation to help an elder or someone with limited mobility. Used to drive to doctors offices or senior centers
28
Life Estate
Ownership that terminates with death
29
Informed Consent
Consent given voluntarily after receiving and understanding adequateinformation
30
Pour over will
All that is left over from the will "pours into trust"
31
Trustee
Person who manages trust
32
Palliative Care
Page 265, they asset people to reduce or slow symptoms of disease. "Comfort Care"
33
Step Up Basis
Property, basis of reassessment for property taxes.
34
Estate
Assets and property
35
Testator
Person who establishes the will
36
Codicil
To make a change or amendment to a will
37
A of A
Administration of Ageing
38
Attestation
declaring under penalty of perjury that a will is correct
39
Per Stirpes
Per family line
40
Annulment
marriage that becomes void, so it never existed
41
Whole Life
Life insurance for a persons entire life, they pay into it every year
42
Explotation
When someone tries to take funds from an elder, known as financial abuse
43
401k
defined contribution where employees and employers pay into a retirement plan. It is tax deferred.
44
Long term care insurance
Insurance for long term care, can be for in home or for nursing or for both
45
Decedent
Person who dies
46
QDRO
Qualified domestic restraining/relations order | Employer can not give out benefits until determining what an ex souse receives as per the order
47
beneficiaries
Person who receives assess from the trust or will
48
Annuity
Contract to provide regular payments
49
ADA
American Disabilities Act housing discrimination
50
Affidavit
Written needs to be notarized, sworn statement made by a person
51
Mediation
When a mediator sits down and works out a decisions that is beneficial to both parties, the people make the decisions and the court enforces
52
Per capita
Money
53
IRA
Individual retirement account
54
Means Test
325. Considers income and assets to determine eligibility for programs like veteran care.
55
Duress
Forcing someone to do something
56
Double effect
Doubles the medication, medication to help pain can kill you 119, 266
57
Foster Parent
not an actual biological parent, someone who takes in children who need homes. The system
58
Term Life
No cash value, available at time person dies, to pay for funeral bills etc
59
Ancillary Admin.
Out of state probate
60
Fraud
illegal action intentional misrepresentation
61
Sexual abuse
unwanted sexual contact
62
Undue influence
acting under coercion
63
Bond
like an insurance policy, makes sure you wont take off with money. Policy not to dispose of assets illegally
64
CUTMA
California Uniform Transfer to Minors act | custodian over sees money ment for minor until they turn 18
65
Viatical
settlement of a life insurance policy of a terminally ill person
66
Grantor
creator of trust | see principal
67
Community property
Property shared by husband and wife, property acquired after marriage that is not inheritance or a gift
68
Adoption
When a person or family legally becomes a parent for a child who is not theirs biologically
69
Euthanasia
mercy killing | assistant suicide
70
revocable trust
a trust that can be amended revoked or terminated
71
In terrorem
a clause in a will | if you terrorize a will, you get a dollar or less
72
meglect
refusal to care for a person under your custody
73
liquidated damages
damages to compensate for actual loss
74
Employ at will
Most common job status. can quit or be fired at any time for any reason
75
Special Needs Trust
A trust created for someone who can not manage their own money, with funds set aside for assistance
76
TDD
telecommunications device for a deaf person
77
Tax deferred
do not have to pay taxes now, pay taxes later
78
Roth IRA
NOT TAX DEFERRED. benefit to beneficiaries Tax free at the end
79
Separation
When people live in separate homes but have not dissolved marriage
80
POD
payable on death
81
Roll over IRA
When money can roll over into a different account to avoid taxes

Elder Law (12 decks)

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