Your Adviser In Asset Preservation Planning
Of the many elder law issues, one of the most important is asset preservation planning, especially as health begins to deteriorate. A careful review of current and anticipated needs, including the potential for incapacity, combined with a frank discussion of finances will compare your Social Security benefits and Medicare benefits with realistic nursing home, assisted living costs. We can explore possible health care, chronic care and long-term care needs, whether residential or in a nursing home or assisted living facility (ALF).
Clear, Intelligent Counsel Helping You Prepare For The Future
At Teiger Law Center, P.C., we can help you find extra funds, arranging special needs trusts for gifts, settlements and other nonincome funds, as well as planning for VA Aid and Attendance eligibility. When and if the time comes, advance Medicaid planning will protect your assets, minimizing your exposure to disqualification of benefit programs you are legally entitled to receive. We can show you how “spending down” doesn’t have to mean “broke” when protecting your assets so that they will last your lifetime and your spouse’s.
We’ll explain transfer penalties and their calculations, as well as the exceptions. If you incur a penalty, there are often ways to undo the mistake, either partially or entirely.
Appointing conservator/guardianship now will ensure that your wishes will be carried out when you are unable to speak for yourself. We’ll discuss probate and ways to shield your loved ones from having to deal with it after you are gone. How and when to distribute assets will be addressed, as well as other end-of-life planning, including estate tax savings.