| Elder Care / Medicaid Planning |
| We work with clients, their financial planners, bankers, accountants and life insurance representatives in the following areas: |
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Formulate the most favorable plan for care of the elderly including considering assets and income sources available to the client and the client’s spouse, including pension plans, IRA’s, 401-k’s and other deferred compensation arrangements as well as social security and other government entitlements |
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Review current and contemplated living arrangements |
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Consider individuals, financial and care-giving institutions available to assist the client when management of funds or living assistance is needed |
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Consider legal options available if no planning has been done, including guardianships, conservatorships, availability of government benefits; and appointing surrogates for medical decision making |
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Consider the use of revocable living trusts (trusts that can be changed), irrevocable living trusts (trusts that cannot be changed), powers of attorney, advance directives for health care; and planning for management and distribution of assets after a client’s death to care for a surviving spouse, children or grandchildren, but not lose government entitlements |
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Assist corporate and individual fiduciaries in management and administration of trusts created for an elderly beneficiary |
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Develop and implement plans for qualification of individuals for government benefits including asset protection for client and spouse, consideration of Medicaid, VA and other benefits to which the client may be entitled |
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Plan for special needs and distribution of estates - addressed separately under those practice areas |
