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Navigating the challenges of in-home care can be a little easier with an experienced guide by your side.
Here are 9 ways an elder law attorney can help if you or your loved one has in-home care:
1. Set up caregiver agreements and in-home caregivers.
There are a lot of pitfalls to watch out for with in-home care. As elder law attorneys, we are familiar with all these pitfalls and help people plan for, and avoid, these pitfalls everyday. One of the best ways to do this is through the use of a caregiver agreement.
2. Analyze how long your funds will last.
Because elder law attorneys do this sort of thing all the time, we are very familiar with what aging costs, the resources available to fund it, and how best to use the tools available to get good care for as long as possible.
3. Set up trusts for protection.
Years ago trusts were only thought of for the very rich, but that is no longer the case. These days, trusts are one of the most powerful tools in our legal toolbox. They can be used to help qualify for VA or Medicaid benefits, which translates to more resources to pay for care for you or your loved ones.
4. Draft powers of attorney or revocable living trusts.
These powerful and necessary documents help guide decisions during a disability – that time when we need to take away your checkbook because of a stroke or dementia. These legal tools help preserve dignity and quality of life. They also help you to stay in control as long as possible.
5. Help you qualify for VA benefits.
VA planning can be complicated, but qualifying for benefits can really make it worthwhile. Many people don’t realize they are eligible for in-home benefits through the VA, or how to prepare legally and financially to get the maximum benefit as soon as possible. We help families every month to qualify for VA benefits. We know the ins and outs of getting you qualified for the benefits you earned in service to your country. Learn more about that here.
6. Give feedback on care options.
Like I’ve said before, many people go to friends for advice on these issues, but chances are your friends have only dealt with these issues once or twice. We work in this field everyday which means we are very familiar with, not only legal issues surrounding in-home care, but other issues like which facilities and companies are the best to work with — and we’d love to be your resource in situations like this.
7. Plan for potential nursing home costs.
While everyone wants to stay in their own home as long as possible, the reality these days is that most people will spend some time in a nursing facility. Planning ahead now can help you be prepared for later. Suddenly being surprised by the need for Medicaid is not the kind of surprise you want.
8. Understand tax implications.
Sometimes good planning for long term care requires rearranging your finances. With IRAs and annuities, those changes could result in income tax. Working with your accountant, we help you understand the tax impact of long term care planning options.
9. Preserve your wishes upon death.
Sometimes, as we age, our current reality can jeopardize any plans we might have for the future. Consulting with an experienced estate planning and elder law attorney can help maximize benefits now, providing good care during life, without jeopardizing your wishes for the future after you are gone.
There is a lot to keep in mind when considering home healthcare, but we help guide people in these decisions everyday, weighing the pros and cons. Our Elder Care Advisors help families everyday to navigate this stressful time of life. If you need to speak to someone right away about your current situation, we would be more than happy to talk with you at 217-726-9200.