Full Address:
Phone:
212-547-8971
Website:
Category: Elder Law Attorney
Hours:
24h
Payment:
cash,
all credit cards, check
Description:
To
ensure all goes well later in life, there are several important reasons to
retain the services of an elder law attorney. For example, if you are concerned
about your current long-term care plan, or have yet to construct a plan, an
elder law attorney can advise you on the various options. In addition to this,
an attorney can also help lay out a plan to make sure your wishes are carried
out if you become disabled or incapacitated later on, and helps you decide who
will be in charge of your care if you are unable to care for yourself.
When
a person has to move into a nursing home, they are required to divest
themselves of their assets in order to pay for their care. However, by placing
their assets into an Irrevocable Trust, the assets can be protected from high
nursing home bills. However, it’s important to remember that this type of
transfer must be done at least five years before a person goes into a nursing
home.
For
many people, the best choice for long-term care costs involves setting up a
Pooled Income Trust. Open to people of any age, it allows them to become
financially eligible for insurance programs such as Medicaid, while at the same
time preserving their monthly income in a trust to cover living expenses and
other needs. By taking advantage of this option, a person can obtain Medicaid
home care services for their long-term care needs, while continuing to have the
money available to support themselves while at home. A variety of people can
greatly benefit from establishing a pooled income trust, including recipients
of personal injury settlements, elderly people who are ill and living at home,
younger people who have special needs, and people who are applying for or
already receiving government benefits.
Keywords:
Guardianship Law Attorney,
Elder Law Attorney, Probate Lawyer, Will Preparation Lawyer
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