Thinking ahead to your golden years is difficult because there are so many unknowns. Yet failure to give consideration to what’s ahead can result in the loss of assets, poor care and hardship for your spouse or other family members.
You can express your wishes regarding the level of care you’d like, how you’ll pay for it and protect your assets through estate planning. This exercise in self-determination will provide you and your family members peace of mind going forward.
If you are unable, powers of attorney and healthcare directives allow a trusted representative to manage your financial and medical affairs. That person can even apply for the medical benefits provided by the government if needed with these tools.
Both Medicaid and the Veterans Administration benefits have strict income and asset thresholds. With advanced planning these benefits can be accessed and managed to best preserve your savings.
Everyone’s aging process is unique. But we all strive to have quality care and the peace of mind that our affairs are in order. An experienced Elder Care attorney recognizes this and can help you tailor an individualized plan to achieve these goals.