Volume 1    Number 1    1993    

The Developing Field of Elder Law: A Historical Perspective - Lawrence A. Frolik

The development of the field of elder law is the subject of Professor Frolik's essay. He views the genesis of elder law as the result of both the emergence of legal specialization and the changing nature of legal education. In a climate marked by increasingly specialized practices, the advent of legal advertising, the changing nature of legal work, and the desire of lawyers to engage in satisfying practice, elder law has recently emerged as a growing field of practice and professional organization. At the same time, legal education has broadened the scope of the traditional curriculum to include subjects of a more practical nature, and the composition of student bodies at the nation's law schools has become more reflective of the general population, with marked increases in the presence of women and students studying law as a second career. Professor Frolik celebrates the introduction of The Elder Law Journal as a medium of scholarly exchange for both practitioners and academicians in the field, and as a confirmation that the field of elder law has reached an elevated status.

Lawrence A. Frolik is Professor, University of Pittsburgh School of Law: B.A. 1966, University of Nebraska ; J.D. 1969, L.L.M. 1972, Harvard Law School .

Elder Law in the Nineties - Peter J. Strauss

The need to reconsider estate planning, placing a greater emphasis on life planning, is the theme of Peter J. Strauss's essay. He provides an overview of the status of the elderly in the United States and reminds the reader that the legal profession has not yet adequately addressed the needs of this segment of the population. The life planning components are discussed and corporations are urged to attend to such employee planning needs so as to enhance productivity at work and to improve the quality of their employees' lives.

Peter J. Strauss is a partner in the firm Epstein, Becker & Green , New York . This article is an extended version of an article adpated with permission from Michael Gilfix and Peter Strauss, New Age Estate Planning: The Emergence of Elder Law , Tr. & Est., Apr. 1988, at 14.

 ARTICLES

Should Government Regulate the Financial Management of Continuing Care Retirement Communities? - Michael D. Floyd

In this article, Professor Floyd takes issue with those who would expand federal or state regulation of continuing care retirement communities ( CCRCs ) in order to protect potential purchasers of such contracts. He discusses the development and nature of CCRCs , as well as the problems that have led to the movement for regulation at state and federal levels. Professor Floyd proposes that developing market mechanisms can solve most or all of the CCRC financial problems, particularly existing accreditation programs, commercial insurance, and improvements that come from managers and consumers having learned from past mistakes. Because the market will take care of these CCRC problems, Professor Floyd questions the need for state or federal regulation.

Michael D. Floyd is Assistant Professor of Law, Cumberland School of Law of Samford University , Birmingham , Alabama . A.B., Princeton University ; M.S., New York University ; C.P.A., New York ; J.D., Emory University .

Reverse Mortgages: A Financial Planning Device for the Elderly - Celeste M. Hammond

An analysis of the merits of reverse mortgages from individual and public policy perspectives is the subject of Professor Hammond's article. She argues that the elderly's typical "house rich, but cash poor" problem warrants approval of a method which allows the elderly to tap their home equity for income purposes while allowing them to remain in their homes. Professor Hammond analyzes other means for tapping equity and finds each lacking in its ability to accomplish the standard goal. She also describes the three types of reverse mortgages currently available. Finally, Professor Hammond sets forth a list of legal issues that remain as obstacles to the broad use of reverse mortgages and suggests ways in which these obstacles can be overcome, including federal preemption through the use of banking laws, the adaption of the AARP's Model Act, and Fannie Mae's drafting uniform forms for mortgage properties geared to each state's laws.

Celeste M. Hammond is Professor, John Marshall Law School , B.S., Loyola University , J.D., University of Chicago Law School. Professor Hammond acknowledges the excellent cheerful help of Therese Clark, J.D. 1993, John Marshall Law School , and dedicates this article to Helen E. Stachnik , a longtime real estate broker and her mother.

 RECENT DEVELOPMENTS

The Medicare Alzheimer's Disease Demonstration - Colleen C. Manning

Colleen Manning describes the federally funded research program entitled the Medicare Alzheimer's Disease Demonstration. This study will have implications for the containment of costs and the provision of necessary support services for both the client and the client's family and friends via the Medicare program. In particular, the researchers seek to identify optimal loads and monitoring methods for case managers, optimal means for providing support service and education for caregivers, and providing family service counseling in light of the status of the patient and the patient's environment. The goal of the program is to provide better support while delaying the patient's reliance on Medicaid. Finally, Ms. Manning shares some early findings from the Carle Clinic, Urbana , Illinois , demonstration site.

Colleen C. Manning, J.D. 1992, University of Illinois , is a member of the Illinois bar and employed by Meyer, Capel , Hirschfield, Muncy , Jahn & Aldeen , P.C .