Staying in a nursing facility can be extremely expensive. Nearly half of all Americans at some point may be required to stay for an extended period of time in a nursing facility. To ensure you will have the necessary funding for such care, while still being able to provide for your heirs, it is best that you plan ahead.
Prepare before a crisis arises. Advance planning affords individuals the luxury of knowing their desired legal status will be put in place ahead of time through documents such as advance medical directives and powers of attorney for financial and legal matters. Documents can be drafted in such a way that they do not go into effect until a person becomes incapacitated, if so desired.
We can assist. With the help of our experienced legal counsel here at Cornerstone Estate Planners, we can advise you on the best steps to take regarding estate planning, long-term care insurance, and other options to service any elder care needs you may have. In many instances, Medicaid will be the primary source of funding for medical and assisted living expenses for many seniors. There are income and asset limits for Medicaid eligibility. However, certain assets are not counted toward the limit, such as your primary residence and the car you drive in most circumstances. Many people elect to spend down their assets to qualify for Medicaid, but you do not have to with proper planning in place. We can advise you of the best way to protect your assets for your heirs while maintaining eligibility for Medicaid and other benefits.
When a loved one has a disability or needs care for an extended period of time, long term care planning is utilized.
With a long term care plan, we will work with you to create a custom strategy and cater to the needs of your loved one. This will allow them to go on living their life with as little disruption as possible.
The long term care plan will take into account medical expenses, housing, personal care, and other areas so you won’t have to go into this period of time blindly.
Contact us today, and we can start creating a plan shaped to your or your loved one’s needs.
When it comes to Medicaid planning, there is no detail that can be overlooked. Each state has a say in who can be eligible for Medicaid benefits within their borders, and we have extensive experience at dealing with these requirements.
Our planning will allow you peace of mind as we create a personalized plan for your specific medical needs.
Getting Medicaid benefits can be an emotionally trying process, but with us as your trusted advisor, rest assured that you will have a friend to help guide you through it all.
With tens of thousands of people reaching retirement age every day in America, it’s no secret that the children of the baby boomer generation are being met with an increasing number of challenges when it comes to caring for their aging parents.
At some times, a parent no longer has the physical or mental capacity to care for themselves. In these situations, a guardianship or conservatorship may be needed.
We can help guide you through the process of being named a guardian for your loved one so that you will have the right to speak on their behalf and make decisions in their best interests.
Contact us today, and we can begin the conversation.
We are experienced
VIRGINIA ELDER LAW ATTORNEYS
Here at Cornerstone Estate Planners, we take a thorough and anticipatory approach to life care planning, ensuring that every available resource is provided to create a custom plan to pay for a continuum of care if necessary in the future.