Saturday, November 18, 2017

Longstreet Elder Law

If you or a loved one have recently been diagnosed with Alzheimer’s disease, it’s important to start planning for the future as soon as possible.

Planning for your future can be the most empowering thing you do to make sure your final wishes are honored by loved ones and health care providers.

In this blog post, we explain what goes into Alzheimer’s planning and why you should hire a Hastings elder law attorney to help you get started.

Estate Planning

The best time to make a comprehensive estate plan is when you are of sound mind and body. During the beginning stages of Alzheimer’s disease, you have a window of opportunity to express your final wishes for how you want your property distributed to loved ones or your preferences for end-of-life care. An estate plan can reduce family tension by leaving behind clear instructions. You’ll also have peace of mind knowing that your family members will be provided for after you have passed away.

Long-Term Care Planning

Since the main symptoms of Alzheimer’s disease are confusion and memory loss, there will come a time when you require long-term care. Alzheimer’s is a progressive disease, which means that your symptoms will only worsen with time. According to the Alzheimer’s Association, Alzheimer’s disease is the sixth leading cause of death in the United States.

After being diagnosed with Alzheimer’s disease, you’ll want to start making long-term care plans. Long-term care is for people who need help with everyday things many people may take for granted such as being able to manage personal hygiene, cook meals, pay bills, go to doctor appointments, and much more.

We recommend researching what types of facilities would best suit your current needs. For example, many assisted living communities specialize in memory care. You may also want to look for a facility that allows you to age in place so you can get an increasing level of care as the disease progresses.

Asset Protection

After you spend a lifetime saving for retirement, the last thing you want is to spend down assets for nursing home care. When you work with an Alzheimer’s planning attorney, they’ll be able to help you put in place certain protections that will protect assets from a Medicaid spend down. Your attorney will be able to share strategies with you so that you can protect as much retirement savings as possible while still qualifying for Medicaid.

Medicaid Planning

According to a 2012 survey from MetLife, a private room in a nursing home costs $248 a day. Since most people don’t have long-term care insurance, they end up spending their life savings to get the care they need. While Medicaid covers the cost of nursing home care, you’ll need to be below certain limits for income and assets before becoming eligible. A Medicaid law attorney can help you strategize ways that help you keep the maximum amount of money possible while still qualifying for Medicaid.

Attorney Rob Longstreet at Longstreet Elder Law & Estate Planning P.C. works hard to make sure you are legally and financially protected during the progression of Alzheimer’s disease. We have a special Alzheimer’s planning team that is comprised of a geriatric care manager, various paralegals, and asset protection specialists. If you are interested in our Alzheimer’s disease planning services, schedule your initial consultation with us at (269) 945-3495.