Learn how you can incorporate long-term care planning into your estate plan.
As you contemplate what you need in your estate plan, don’t forget about long-term care planning. Long-term care is something many people are likely to need as they grow older. Long-term care can include nursing homes, at-home medical care, and plans for incapacitation. If you want to prepare for the future, starting as early as possible is best. Your attorney at The Millman Law Group can help you decide what is needed for your unique plan and specific concerns. The following tips can help you craft your ideal long-term care plan.
Realistically Evaluate Your Health
Most people cannot predict the need for long-term care, but evaluating your health now can help create your plan. This is especially true if you have chronic conditions or a family history of serious health conditions. For example, if you have a history of diabetes, high blood pressure, or a family history of heart disease, you may have a higher likelihood of requiring long-term care.
Research Long-Term Care Options
Around-the-clock care in a nursing home is one type of long-term care; it is not the only option. Other options people prefer include assisted living, community care, home health aides, and family caregivers. Planning for long-term care requires you to have some idea of what the care will cost. Once you know what type of care you would prefer, you can judge the costs and decide what you can do to pay for the care. This is where your estate planning attorney can help.
Discuss Options with Your Family
Most seniors would prefer to age in place and not have to move to a care facility. They may choose to have family members care for them rather than nurses. However, when making your plan, you should sit down with your family members and discuss what they may be comfortable with. This can help you decide which plans are most feasible and start making plans for those scenarios.
Incorporate Medicaid Planning Into Your Estate Plan
Many senior citizens use Medicaid to pay for long-term care services. However, this program has strict qualification requirements that can alter from state to state. Your estate planning attorney at The Millman Law Group understands how to help clients apply to this program and how to simultaneously preserve your assets and estate plan. However, the application and approval process for Medicaid can be lengthy, so it is best to start the process as soon as possible.
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.