Two issues of high priority in many people’s lives often intersect as one may impact the other financially or otherwise. However, just the thought of trying to devise a sufficient long-term care and estate plan is enough to cause many Georgia readers stress. Keeping a few key points in mind may help avoid major problems.
Long-term care is expensive in most cases. There are often government benefits available to help pay for such care. It is generally a good idea to research such options in order to protect one’s estate assets from being used to meet such expenses. Asset protection is one of many issues for which an experienced long-term care planning attorney can provide guidance.
Avoiding guardianship proceedings may be of paramount importance to one or more Georgia readers as well. A living will is a valuable tool that can be used to designate a power of attorney or health care proxy to act on behalf of an elder who becomes incapacitated. This option is often chosen by those who wish to avoid substantial costs associated with the guardianship process.
When researching elder law and long-term care or estate planning issues that may affect the lives of family members, it may also be helpful to look into long-term care insurance plans. Any number of life situations may impact an estate plan or long-term care provisions, such as divorce, another family member’s death or a decline in health that leaves an elder no longer in a sound state of mind. In order to create a long-term care plan and also avoid estate planning problems, a Georgia resident can turn to an experienced attorney for assistance.
Source: recordonline.com, “Bonnie Kraham: The two major failings of elder law estate planning“, Bonnie Kraham, Dec. 14, 2017