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Elder Law > Study > Flashcards

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
Q

Reciprocal

A

Usually for husband and wife, the wills mirror each other

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26
Q

CASA

A

Court Appointed Special Advocate for a minor

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27
Q

Para-transit

A

Transportation to help an elder or someone with limited mobility. Used to drive to doctors offices or senior centers

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28
Q

Life Estate

A

Ownership that terminates with death

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29
Q

Informed Consent

A

Consent given voluntarily after receiving and understanding adequateinformation

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30
Q

Pour over will

A

All that is left over from the will “pours into trust”

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31
Q

Trustee

A

Person who manages trust

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32
Q

Palliative Care

A

Page 265, they asset people to reduce or slow symptoms of disease. “Comfort Care”

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33
Q

Step Up Basis

A

Property, basis of reassessment for property taxes.

34
Q

Estate

A

Assets and property

35
Q

Testator

A

Person who establishes the will

36
Q

Codicil

A

To make a change or amendment to a will

37
Q

A of A

A

Administration of Ageing

38
Q

Attestation

A

declaring under penalty of perjury that a will is correct

39
Q

Per Stirpes

A

Per family line

40
Q

Annulment

A

marriage that becomes void, so it never existed

41
Q

Whole Life

A

Life insurance for a persons entire life, they pay into it every year

42
Q

Explotation

A

When someone tries to take funds from an elder, known as financial abuse

43
Q

401k

A

defined contribution where employees and employers pay into a retirement plan. It is tax deferred.

44
Q

Long term care insurance

A

Insurance for long term care, can be for in home or for nursing or for both

45
Q

Decedent

A

Person who dies

46
Q

QDRO

A

Qualified domestic restraining/relations order

Employer can not give out benefits until determining what an ex souse receives as per the order

47
Q

beneficiaries

A

Person who receives assess from the trust or will

48
Q

Annuity

A

Contract to provide regular payments

49
Q

ADA

A

American Disabilities Act
housing
discrimination

50
Q

Affidavit

A

Written needs to be notarized, sworn statement made by a person

51
Q

Mediation

A

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
Q

Per capita

A

Money

53
Q

IRA

A

Individual retirement account

54
Q

Means Test

A
  1. Considers income and assets to determine eligibility for programs like veteran care.
55
Q

Duress

A

Forcing someone to do something

56
Q

Double effect

A

Doubles the medication, medication to help pain can kill you 119, 266

57
Q

Foster Parent

A

not an actual biological parent, someone who takes in children who need homes. The system

58
Q

Term Life

A

No cash value, available at time person dies, to pay for funeral bills etc

59
Q

Ancillary Admin.

A

Out of state probate

60
Q

Fraud

A

illegal action intentional misrepresentation

61
Q

Sexual abuse

A

unwanted sexual contact

62
Q

Undue influence

A

acting under coercion

63
Q

Bond

A

like an insurance policy, makes sure you wont take off with money. Policy not to dispose of assets illegally

64
Q

CUTMA

A

California Uniform Transfer to Minors act

custodian over sees money ment for minor until they turn 18

65
Q

Viatical

A

settlement of a life insurance policy of a terminally ill person

66
Q

Grantor

A

creator of trust

see principal

67
Q

Community property

A

Property shared by husband and wife, property acquired after marriage that is not inheritance or a gift

68
Q

Adoption

A

When a person or family legally becomes a parent for a child who is not theirs biologically

69
Q

Euthanasia

A

mercy killing

assistant suicide

70
Q

revocable trust

A

a trust that can be amended revoked or terminated

71
Q

In terrorem

A

a clause in a will

if you terrorize a will, you get a dollar or less

72
Q

meglect

A

refusal to care for a person under your custody

73
Q

liquidated damages

A

damages to compensate for actual loss

74
Q

Employ at will

A

Most common job status. can quit or be fired at any time for any reason

75
Q

Special Needs Trust

A

A trust created for someone who can not manage their own money, with funds set aside for assistance

76
Q

TDD

A

telecommunications device for a deaf person

77
Q

Tax deferred

A

do not have to pay taxes now, pay taxes later

78
Q

Roth IRA

A

NOT TAX DEFERRED. benefit to beneficiaries Tax free at the end

79
Q

Separation

A

When people live in separate homes but have not dissolved marriage

80
Q

POD

A

payable on death

81
Q

Roll over IRA

A

When money can roll over into a different account to avoid taxes

Elder Law (12 decks)

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