An essential part of estate planning is creating a long-term care plan. More than 70% of seniors will require long-term care as they age. However, not every type of long-term care will be covered by services like Medicare and may not even be considered part of a basic estate plan. Due to the expenses that can accumulate when paying for sufficient long-term care, working with experienced and knowledgeable estate planning attorneys is essential to help you prepare for numerous scenarios. At The Millman Law Group, we understand what individuals and families need to plan for their estate and future care.
Have Your Elder Law Attorney Review Your Estate Plan
Not all estate planning attorneys may be experienced in elder law. At The Millman Law Group, we are. This specific area of law addresses the needs of senior citizens and their families. Having a knowledgeable elder lawyer review your existing estate plan can help you make sure you take all crucial steps. An elder law attorney can address the following:
- End-of-life wishes
- Estate administration
- Probate issues
- Long-Term Care Planning
- Medicaid Planning
Create a Will and Organize Documents
Gathering documents and creating or updating a will now rather than later is always best. Having the necessary documents organized and easy to access makes the probate process go more smoothly. Making sure your will is updated can help ease tensions between family members and ensure that all assets are appropriately distributed. It is best to start on these estate planning tasks before it’s too late due to medical complications, failing memory, or other health issues that may impact your ability to dictate your wishes.
Consider Power of Attorney and Health Care Advance Directives
Another crucial step for estate and long-term care planning is exploring options like power of attorney. A power of attorney can make financial decisions on behalf of the older person if they become incapacitated.
A health care advance directive lets family members know what their wishes for health care are if they are incapacitated. Both power of attorney and health care advance directives can ensure that a person receives the care for themselves and their assets that they desire.
Medicaid Trust for Assisted Living or Nursing Home Care
There is a fair possibility that you or a loved one will need nursing home care as you age. These stays may be short or extensive. No matter how much nursing home care is required, this kind of long-term care is often out of budget for many people. This means they may have to go without beneficial care, rely on their children’s finances, or find a financial workaround. One of these “workarounds” people use is a Medicaid trust, which can allow for the elder’s finances to be set aside and saved while at the same time providing them with the chance to receive the treatment they need.
When you work with an experienced elder law attorney, your attorney can help you take steps to create a long-term care plan that accounts for many possible scenarios.
Estate Planning Made Easy With Millman Law Group
Millman Law Group, PLLC is rare because it’s one of the only law firms that offer life planning in South Florida. From life care planning to the preparation of detailed estate plans, Millman Law Group has committed to serving Floridian elderly communities in Boca Raton, Palm Beach County, Ocean Ridge, Hillsboro Beach, and many other areas since 2018. Our dedicated team also specializes in special needs trusts and catering to any age demographic because we know for certain it’s never too early to start preparing you and your family for your future. For the latest news in estate planning and elder care law, follow us on Facebook, Twitter, Linked In, and Pinterest. You can also contact us at 561-463-6480.