It’s true what they say about planning being the key to success. For instance, attorneys come up with a plan, based on evidence they’ve collected, on how they’re going to fight for their client in court, and win the case. Every person has some kind of a plan in place while they were climbing the ladder of success. Once a person reaches the top, has put money away and paid off their home, it becomes necessary to take a moment and think of what the future holds for them. Every person knows that as they grow older, any number of things can occur.
It makes sense to call an attorney and talk to him/her about protecting the assets they’ve accumulated through the years. An attorney knows all the government rules concerning Medicaid and Medicare. They know the time period in which a couple can endow their children with the family home and other assets, and when to spend down assets in order to qualify for Medicaid.
Facer Law Offices is one attorney that has worked with the elderly and their families for over 25 years. Attorneys put a Family Protection Plan in place that will help their elderly client obtain the best care, but they’ll still be able to leave their children many assets. Some assets like the home, car and personal possessions are not even counted when applying for Medicaid.
A good lawyer knows the state’s laws regarding assets when applying for Medicaid. They take a time to talk to each elderly couple about why it’s good to have a power of attorney naming a spouse or loved one to make important decisions on their behalf. These decisions may regard a health care or financial power of attorney if either spouse should become incapacitated in some way.
Some powers of attorney are set up to be temporary, and end when a spouse’s health gets better, such as being rehabilitated after a stroke. An attorney that sets up a Family Protection Plan will go over items that need to be taken care of while the client is living, and items that should be completed that will take effect upon the death of the client. You can also like them on Facebook for more information.
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