As we get older, it may become more difficult for us to take care of ourselves physically and financially. A long-term care plan can prepare you for the future and make sure your wishes are adhered to, even if you are incapacitated. Long-term care plans can also take some of the pressure off your family members if the time comes to make decisions on your behalf.
What is included in a long-term care plan?
A long-term care plan typically addresses everything from your medical care to finances. Many plans include:
- Durable power of attorney: Document legally authorizing someone to act on your behalf, if necessary.
- Medical power of attorney: Document legally authorizing someone to make medical decisions on your behalf, if necessary.
- Will: Document that details how your assets will be distributed when you pass away.
- Living will: Document that specifies whether you would like artificial life support to keep you alive, if needed.
- Trust: Placing your home and other assets into an irrevocable trust may be one way to protect your assets.
- Medicaid: Medicaid provides needs-based financial support for nursing home care.
- VA benefits: Benefits available for veterans and surviving spouses.
An elder law attorney can help
While you may not end up needing all parts of your long-term care plan, being well-prepared can give you and your family much-needed peace of mind. The experienced elder law attorneys at Kentucky ElderLaw PLLC are ready to help you put together the perfect long-term care plan. Your attorney can make sure you cover all your bases, while also tailoring your plan to fit your specific needs and making sure your wishes remain a priority.
