Incapacity — While no one wants to consider the possibility of suffering from diminished capacity, taking action now to prepare for future incapacity can provide real peace of mind.Property or financial power of attorney, agent designations (limited or full powers) allow you to choose someone to look after your property, and manage your finances. Health Care power of attorneys allow you to designate someone to make health care decisions for you.
Medicaid and Nursing Home Assistance:
Given the high cost of nursing home care, it can be critical that you take measures in advance to ensure that you are able to take the greatest advantage of the nursing home benefits provided through Medicaid. This may include setting up Miller trusts as well as ensuring that your assets and income meet the guidelines through permissible transfers or by spending down assets.
Medicaid is a need-based government health insurance program that will pay for long-term care. The Medicaid program actually pays for most of the nursing home expenses that are incurred by senior citizens. Elder law attorneys help clients position their assets with future Medicaid eligibility in mind. It is possible to divest yourself of assets in a measured fashion well in advance of applying for eligibility.
Court Supervised Guardianship or Conservatorship.
When a family member becomes incapacitated for any reason, a guardian can be appointed through the court to assume legal responsibility for an incapacitated person's physical care and/or financial matters, and a conservator can be appointed to help manage the property; all with Court supervision.
