Top Three Most Common Long-Term Care Planning Mistakes
Long-term health care plans are important preparations for the future. Unfortunately there are many pitfalls that can and do thwart execution of these plans. Many individuals believe things or take unnecessary action that can be damaging in the long run.
Here are the top three, most common, long-term care planning mistakes individuals make and our attorney has seen through the years.
1. Assuming Ineligibility For Medicare And Medicaid
Many people often believe that if they own assets or aren’t destitute, they will be ineligible to receive Medicare or Medicaid and will have to pay for the coverage themselves. This is a common misnomer.
2. Making Drastic Action To Qualify For Medicaid, Medicare Or Veteran’s Benefits
Those who do believe that they will be ineligible to receive government services if they own assets may sell, reassign or donate high assets to reduce their net value. This is unnecessary.
3. Assuming An Estate Plan Covers Long-Term Care Arrangements
An estate plan is extremely beneficial but is limited in guidance. Many people believe, for instance, that a simple will covers all necessary arrangements. Unfortunately, long-term care planning is not covered in a will, as it stipulates assistance and coverage regarding everyday tasks and daily living.
An Advocate, Advisor And Friend To Help You
Attorney J. Kevin Tharpe, P.C. has been helping seniors and others in Northeast Georgia with long-term care planning for over two decades. His personal life experience within his family has allowed him to understand the importance of truly planning for such life events like long-term care needs.
Attorney Tharpe knows the law, the courts and — as long as you are open and straightforward about all assets of your estate — he can help you make the right decisions that define your legacy.
Call Today To Schedule A Free Consultation
Let J. Kevin Tharpe provide you with the legal advice you need to successfully retain the benefits and arrangements necessary for you or your loved one’s long-term care. Call 866-253-6994 or contact us online to set up a free consult.