Who Can Benefit from Elder Law and Life Care Planning

A life care plan allows families and aging adults to review their current and future needs and create a roadmap to ensure their wishes are respected and that they maintain eligibility for benefits. Additionally, establishing a life care plan can help to avoid last minute decision-making and confusion, and will put you and your family members at ease.At Winfield Elder Law, we work with both families and individuals to create a life care plan that honors our clients’ wishes and helps to provide for the type of care they prefer.

Who Can Benefit from Elder Law and Life Care Planning

Determining Individual Life Care Plan Requirements

When you begin the conversation regarding a life care plan, there are two important issues to discuss – the type of care you wish to receive and the way that you will pay for it. We work closely with all of our clients and carefully tailor each life care plan to their needs and wishes.

Creating a Comprehensive Plan

Establishing a life care plan requires addressing various issues, including helping families understand seniors’ wishes regarding long-term care, protecting assets and preserving Medicaid eligibility, drafting and executing various legal documents, and coordinating optionsinto long-term care.

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Client Testimonial

The services received from the Winfield Elder Law was extremely professional and courteous to my personal situation. Ms. Winfield and her staff were easy to access and worked hard to gain the best outcome in my case. I would definitely suggest giving her a try to handle your case or situation.

M. Saibu

Reviewing Assets and Preserving Medicaid Eligibility

One of the keys to elder law and life care planning is the protection of assets. An aging adult will hope to pass on the wealth that they have accumulated over their lifetime. Nursing homes and in-home care can deplete this reservoir, but with careful planning you can retain these assets while still affording the type of care that is desired or needed.

Reviewing Assets and Preserving Medicaid Eligibility

Options for Financial Support

An elder law attorney can discuss the possibility of setting up long-term care insurance. This type of insurance will provide financial protection for you and your loved ones in the event that Medicare does not cover all of the expenses associated with receiving ongoing care. This is a common option for aging adults who are looking to receive financial support without touching their assets.

Establishing a Trust

We can discuss the possibility of setting up an irrevocable trust and other options for transferring your assets to your children and loved ones. With a trust, you can transfer ownership of assets in order to retain Medicaid eligibility. This allows your family members or the trustee to manage your protected estate. Additionally, there are several methods for retaining an annual income while still qualifying for Medicaid support.

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The Importance of Elder Law

Although it can be emotionally challenging to have the conversation about how to care for an aging adult, establishing a customized plan can ease the burden of making these decisions. Elder law provides a structure for this important piece of the process so that the wishes of a cared for family member can be respected. When you and your family have a clear understanding of how to provide care and financial support for an elderly family member when the time comes, youcan focus on fulfilling their intentions in the way that they have directed.

“Speak to an elder law andlife care planning attorney today.”