No one likes to imagine themselves dying or requiring assistance in their old age; however, there is something that you can do to help yourself and your loved ones face these difficult parts of life. Taking the time to plan for your elderly years can help you and your loved ones in the event that you require long-term care.
Elder law
Elder law matters often involve estate planning and long-term care planning. At Stillman & Associates, LLC, a large portion of our Connecticut law firm is devoted to elder law. Our attorneys understand the high costs associated with long-term care, which is why we take the time to help our clients create a plan that protects them and their loved ones.
Our law firm understands that we are not all on the same timeline. For some, planning and preparing for this well in advance is possible and ideal for their situation. Others may not be so lucky. They are forced to quickly make these decisions because they unexpectedly require long-term care.
Planning for long-term care
When planning for long-term care, it is important to gain a full perspective of your situation. Because the Medicaid program has strict eligibility requirements when it comes to assets, some estate planning measures may be necessary. Also, because the Medicaid program in Connecticut has a five-year look-back period, this needs to be taken into consideration as well.
When it comes to Medicaid and long-term care, there are other services and benefits available that coincide with them. Thus, you may have several options available to you. For example, veteran’s benefits may be applicable. Additionally, if you have long-term care insurance, you may use this in conjunction with other options.
Even if you are young and well, it is never too soon to consider planning for long-term care. We do not know what the future may hold, and the sooner you begin this planning, the more options you will have.