Planning for long-term care and substitute decision making is crucial for individuals, couples, and families facing the uncertainty and financial strain of declining health. Based on your specific circumstances and goals, we can explain and plan options for paying for nursing home care, preserving assets, and addressing issues of incompetency.
Long-Term Care Planning
When planning for long-term care, we can advise you regarding the costs and options for types of care, various facilities, and sources of paying for care. Payment sources may include personal assets, a reverse mortgage, long-term care insurance, and benefits through veterans or Medicaid programs. In many cases, Medicaid benefits are a component of eventual or immediate need. We can assist you in planning and applying for Medicaid benefits, so that you can preserve certain assets for yourself, your spouse, and possibly others in your family.
Planning for Incapacity
Whenever a substitute decision maker is needed, we can help and advise you regarding the best options, including powers of attorney, trusts, conservatorship, and guardianship. Advance planning can involve healthcare and financial powers of attorney to designate someone to speak or act for you when you cannot do so for yourself. A revocable living trust can provide a tool to manage your financial affairs if you become incapacitated. For someone who wishes court supervision of their financial decision-maker, a conservatorship may be a consideration. Finally, when advance planning has not happened or unforeseen circumstances arise, a guardianship may be necessary to deal with financial and personal matters for someone who is incompetent.