One’s Golden Years are sure to feature some of life’s most celebrated and cherished moments. Nevertheless, today’s seniors may still face complex and daunting legal matters. Whether it be affording the ever-increasing cost of long-term care, establishing who will make important financial and medical decisions for them when they are no longer able, or how they will protect their legacy after they are gone. These are crucial matters.
Fortunately, our team of dedicated elder law attorneys stand ready to ensure you navigate this phase of life with confidence. Our team is experienced with all aspects of elder law and will be able to assist you, whatever your individual needs may be.
Schedule a consultation with King Law to discuss your concerns with an elder law attorney. Call 888-748-KING (5464) or fill out our online form to set up an appointment at one of our eighteen office locations in North Carolina and South Carolina.
Long-Term Care Planning
With the importance and ever-increasing costs associated with long-term care, there has never been a better time to establish a long-term care plan. While maybe not a pressing need now, the earlier an earlier an individual starts the long-term care planning process, the better positioned they will be in the future regarding options and quality of care. Our elder law attorneys can help you feel confident while navigating this often-intimidating process and ensuring you maintain the quality of life you want and deserve.
For many clients, private insurance represents a great tool in creating their long-term care plan. This is especially true given that Medicare does not cover the majority of costs of long-term care. Additionally, private insurance demonstrates the importance of planning early as individuals who purchase insurance while they are young and in good health will position themselves to pay lower premiums. This means one’s money goes further in providing for their future care. By waiting too long, individuals may struggle to find an affordable plan capable of meeting their needs and desires.
In cases where individuals do not have access to private insurance or the ability to pay out of pocket, Medicaid may be available to help meet long-term care needs. Medicaid however is viewed as a last resort due to its complex eligibility requirements.
Regardless of your current financial situation, our attorneys are invested in ensuring you have a long-term care plan capable of serving your needs. Call us at 888-748-KING (5464) to schedule a consultation at one of our North Carolina or South Carolina offices to discuss your situation.
As the need for long-term care arises and clients lack private insurance or the ability to pay out of pocket for care, Medicaid planning may be an alternative for them. Medicaid will pay some long-term care costs but is viewed as a last resort alternative given its complex eligibility requirements and strict rules regarding the ownership of assets.
Due to Medicaid planning being viewed as a last resort, our attorneys will want to make sure you have exhausted all other possible alternatives to pay for long-term care. If it is determined that Medicaid planning is the best route to pursue, our attorneys will walk step-by-step through this complex process whose rules will vary from state to state.
To qualify for Medicaid, one’s financial situation must adhere to strict asset limits. Additionally, one must balance Medicaid’s rules on asset transfer in the process of trying to comply with the asset limits. Our attorneys will be able to help you determine which assets you own that will be exempted for Medicaid eligibility purposes as well how to arrange those assets that will be counted.
Regarding Medicaid planning, we strive to ensure you can qualify while also retaining as many assets as possible. The earlier you begin your Medicaid planning, the more likely we can meet this goal.
While unfortunate, due to a decline in mental faculties an individual may at some point lose the ability to care for themself. When this happens, a court may have no choice but to appoint someone to serve as that individual’s guardian.
This special relationship means the court appointed party will be solely responsible for making both medical and financial decisions for the incapacitated individual. Often this can be uncomfortable as disagreement can exist between the guardian, the incapacitated individual, and other family members about the necessity of a guardian and/or proper decision making.
Ideally, individuals who through proper estate planning, have a valid durable and medical power of attorney may be able to avoid the guardianship altogether. This arrangement allows a pre-appointed individual to make financial or medical decisions on your behalf if needed. This arrangement however must be made before one loses their decision-making capabilities.
Once an individual’s mental capacity is diminished, guardianship may become a necessity. If this is the case, it is still beneficial to go through the court process and seek to be appointed as your loved one’s guardian so that responsibility does not fall to a stranger.
Our elder law attorneys can explain and help you explore your options when it comes to the guardianship process. Call us at 888-748-KING (5464) to schedule a consultation at one of our offices located in North Carolina or South Carolina.
Powers of Attorney
One of the most critical documents in estate planning is a power of attorney. This specialized document allows loved ones to act as an agent on one’s behalf in the event they become incapacitated or incapable of making decisions for themselves.
Without a valid power of attorney, one’s loved ones may not be properly positioned to ensure they are cared for. Instead, it may become necessary to go to court and seek to be appointed as a guardian for their loved one.
Power of attorneys are highly customizable to fit your exact needs. These documents can be limited in scope to cover only specific activities or can be general in their use. Additionally, these documents may take effect immediately or in the future given the occurrence of an event (ex. the loss of one’s capacity).
One of the foundations of elder law is estate planning. Accordingly, our attorneys can help ensure the legacy you leave behind is protected.
In addition to pre-set estate planning packages, we also offer customizable estate planning services tailored to your specific needs. This level of flexibility guarantees you will be able to find the perfect plan for you and your loved ones.
Already have an existing estate plan? We can review your documents to make certain there are no gaps in your current plan. Additionally, we strongly recommend having your plans reviewed every few years or after a major life event to ensure they are up to date and in line with your specific needs.
Contact us to discuss your estate planning needs specifically. Call 888-748-KING (5464) to set up a consultation with one of our dedicated elder law attorneys.