As we grow older, several family, health, and financial issues come to mind and most of us could use some sound advice and help in confronting and solving these issues. Many families are concerned about how to obtain and pay for long-term medical and health care, and how to make decisions about such care if the patient has diminishing mental capacity. Unfortunately, many people fail to deal properly with these issues because they are confused or because they are overwhelmed.
Problems and issues are often solved by breaking them down into smaller parts. Many long-term care issues can be solved the same way.
Advance directives are intended to answer the question of who decides for someone with diminished mental capacity. Many people believe that their spouses or their children will be able to make the necessary decisions, but unless a spouse or a child has been properly authorized under a Durable Power of Attorney or a Health Care Proxy.
Many people fear that they will be giving up control when they sign these documents, which allow another person to make decisions about their money and property, or their medical and health care. In fact, the opposite is true. Those People who have not selected their own agent to act under a Durable Power of Attorney, or their own heath care agent to act under a Health Care Proxy, may find that a judge is required to select a guardian for them. The selection might not be the person they would have chosen and may be subject to a costly court proceeding. In some guardianship proceedings, the fees and costs involved consume a majority of the assets that the proceeding was instituted to protect.
So, what to do? With proper legal advice and planning, you or your family member or friend may be able to conserve your life’s savings and your income, and your home, for yourself and your Estate. Without proper advice, under the Medicaid guidelines, you or your family member or friend may not qualify. Our office can answer these questions and work with you to determine what will work best for YOUR particular needs.
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