Wills and trusts can both be used to direct where and to whom your property passes once you have passed on.
Trusts can also be used to allow someone else to manage your property during your lifetime if you wish to have someone else do this, or if you become incompetent.
There are a variety of situations in which other people may make decisions for you.
It can be very important to have a valid Advance Directive for Health Care in place, so that if you are unable to direct your own health care, the person you want to make health care choices for you will be able to direct doctors and hospitals, and will be able to have access to your health care information.
In order to qualify for Medicaid, one must generally be over 65 years old. One must also be sufficiently ill, and need sufficient assistance to qualify for Medicare pursuant to what is referred to as one’s service priority level.
Consider contacting an Elder Law attorney before you, your spouse, or your parents make any significant transfer of property. Consider getting the advice of an Elder Law Attorney:
The cost of long term care and medication can easily exceed $6,000 per month per individual. Even in lower cost long term care situations, the cost often exceeds $2,000 per month.
Ten years of long term care at these rates, thus, ranges between $240,000 and $720,000.
There are two major government programs which provide medical benefits for senior citizens, some children, and certain persons with disabilities. One of these, Medicare, provides various hospital and outpatient physician and other health services. This can be compared to the health insurance that some employers provide.
Elder Law includes a wide range of subjects, including matters relating to Medicaid, including asset protection, Medicaid spend down, look back periods, avoiding or dealing with disqualification for Medicaid, and planning for a situation where one spouse needs to enter long term care, but the other may be able to remain in the home.
In order to qualify for Medicaid, one must generally be over 65 years old. One must also be sufficiently ill, and need sufficient assistance to qualify for Medicare pursuant to what is referred to as one’s service priority level.
What People Need to Know to Protect Themselves and Their Families
There are two major government programs which provide medical benefits for senior citizens, some children, and certain persons with disabilities. One of these, Medicare, provides various hospital and outpatient physician and other health services. This can be compared to the health insurance that some employers provide.
Elder Law includes a wide range of subjects, including matters relating to Medicaid, including asset protection, Medicaid spend down, look back periods, avoiding or dealing with disqualification for Medicaid, and planning for a situation where one spouse needs to enter long term care, but the other may be able to remain in the home.