The cost of long term care can be perceived as jeopardizing the financial security that a person or couple has worked hard to obtain. In representing clients regarding long term care planning, our goals are:
•To provide guidance for the long term care needs of the individual, partners or spouses.
•To preserve assets for the benefit of the well spouse, partner or any dependents.
•To reduce or eliminate the fear of impoverishment.
•To tap all existing sources of assistance to meet the cost of long term care. (I.e. Medicaid, Veteran benefits).
•To help you evaluate the benefits and limitations of the public health care system.
•To advise you of the impact of any plan on the client, family, the estate and heirs.
Navigating public benefit programs such as Medicaid is like a maze. Don’t attempt it by yourself when we can guide you with the expertise and knowledge of the laws --which have changed drastically these past few years.
Creating a plan often involves a discussion about legal documents such as a Last Will & Testament, Durable Power of Attorney, Designation of Healthcare Surrogate, Living Will and a revocable or irrevocable trust, if appropriate, to achieve the clients’ goals. If you have a loved with a disability or special needs, let us counsel you about using a special needs trust to provide an inheritance for a loved one who may have an incapacity or, disability. Estate and incapacity planning documents are important for anyone over the age of 18, including college students.
Planning options may include guiding you to obtain and/or maintain public benefits such as Medicaid or, Veterans Aid and Attendance benefits and the use of special needs trusts.