LEGAL ASPECTS OF LIFE CARE PLANNING
Legal Documents:
Power of Attorney: General Durable Power of Attorney to handle financial, property and/or other matters in the event you are unable to do so.
Health Care Power of Attorney: Authorizes agent to obtain and discuss your medical information with your doctors or to make arrangements for your care in the event you are unable to do so.
Living Will/Advance Directives: Documents your wishes regarding the use of life support systems or procedures in the face of an irreversible terminal condition.
Last Will and Testament: Expresses your wishes as to how your property and assets should be distributed after your death.
Revocable Living Trust: Employed as a means of avoiding or minimizing probate procedures and estate taxes. May be advisable depending on your personal, financial and health situation.
Other Trusts: Irrevocable Insurance Trusts, Special Needs Trusts.
Implementation:
Ownership of Assets: How should your assets be held?
Joint Ownership and Designation of Beneficiaries
Benefits, considerations and drawbacks
Setting up Trusts: To Fund or not to Fund
Accessibility of Documents and Information
Programs & Strategies:
Spectrum of Care: In-home Care, Life Care Communities, Assisted Living, Nursing Homes
Fine-tuning Your Life-Care Plan: Taking the necessary steps to insure that your future plan can be properly implemented
Define Your Priorities: Staying in the Community, Protecting Assets
Title 19 (Medicaid) Programs and Eligibility Rules:
Home Care Programs
Nursing Home Program
Assisted Living Pilot Program
Money Follows the Person Program
Other Programs:
Veterans Administration – Aid and Attendance Pension
Reverse Mortgages
Long-Term Care Insurance
Annuities
