As you age and think about your future are you concerned that you may need someone to care for you or need Medicaid or some type of long-term care? Have you completed any planning for the future, including long-term care? Actually, with less than half of all Americans today having an estate plan, it is not surprising that even fewer have planned for their long-term care needs. Long-term care planning, or elder law planning, addresses the need for a possible future when you may need to rely on another person each day due to physical impairments or mental cognitive issues. Included with long-term care planning is looking into the need for Alabama Medicaid. We highly recommend meeting with an Alabama elder law attorney who has expertise in successful planning for Alabama Medicaid.
When it comes to long-term care planning, we often meet and speak with seniors and their loved ones in our law office about what it means to need long-term care and how to plan successfully to meet those needs, including looking into Alabama Medicaid. We want to share 6 tips you need to successfully use to both educate yourself and begin to get the answers that you need about long-term care and Alabama Medicaid.
1. The time to start long-term care planning is now. Unfortunately, many people put off planning until it is too late. Give yourself peace of mind for the future and have a plan in place so that should the time come you are prepared and not at risk. As part of your planning you need to know that long-term care does come at a cost. What will you be able to afford? Prepare yourself for the future by understanding where you stand right now. This information will also help you when you discuss your long-term care needs with your Alabama elder law attorney and whether you should look into Alabama Medicaid planning.
2. You need to be sure your Alabama estate plan is up-to-date. It is very important to have an Alabama estate plan in place along with a long-term care plan in place. With your Alabama estate plan you can give legal authority for healthcare and financial decisions to another person who you trust. You can also designate this person or persons with the authority to make decisions when you are not able to do so independently.
3. It is essential to be prepared for your future by knowing the cost of care. Be aware that the cost of long-term care in any setting is expensive. You can learn the cost for the type of care in our state by using this link from the Genworth Cost of Care Survey. By sitting down and planning with your experienced Alabama elder law attorney now you can both decide whether Alabama Medicaid planning needs to begin based upon your finances.
4. Research the different types of long-term care that are available. Most people do not want to live in a nursing home, but did you know that there are many steps in between nursing home care and home care? From homebase care to independent care to assisted-living care and skilled nursing home care, there are many options. You can use this link that we want to share with you from the AARP website.
5. You need to start looking into long-term care insurance now and decide whether it is an option for you. Long-term care insurance is a type of insurance that can provide financial assistance should you need long-term care. Do not put off speaking with a long-term care insurance agent to learn more about what your options are. Also, if your finances cannot cover the cost, speak with an Alabama elder law attorney about other options, including Alabama Medicaid.
6. Decide as soon as possible to make an appointment and meet with an Alabama elder law attorney. An experienced Alabama elder law attorney knows and understands Alabama Medicaid planning is essential. He will be able to educate you on what your options are in numerous circumstances and come up with a plan to make sure you, your family, and what you care about most, is protected. Do not hesitate to make a list of what you are concerned about and the questions you need answered.
We know this list may seem daunting. We also know you may have more questions now that you have read it. Our firm specializes in estate and elder law planning. At the end of the day, legal planning is not just for you. Instead, it is for the ones you love most. If we can answer any questions for you on putting this estate planning in place, please do not hesitate to let us know. For more information, please reach out to our office and schedule a time to meet.