Power of attorney forms are a crucial part of planning for future health care needs and financial decisions, but it is important to understand how these legal documents can be drafted and the effects they can have on family relationships.
An advance directive is a legal document that identifies a person’s health care preferences in the event that they become unable to make decisions for themselves. Advance care planning provides invaluable guidance and peace of mind for family members.
Seniors and their caregivers are prone to many unique legal challenges. The issues these family caregivers face highlight the importance of obtaining legal documents and having an elder law attorney on your care team.
Two common scenarios are when a caregiver no longer wishes to be POA and when a family member wants to challenge the legality of a POA’s actions. Changes are dependent on the principal’s competency, how the document is written and the desired outcome.
Find out how annuities play into Medicaid planning for your elderly parents. It may seem hard to believe that annuities can help the elderly qualify for Medicaid - yes, Medicaid. This is sometimes called the "Half-A-Loaf" approach, and in certain cases, it can be a lifesaver for those who need the help the most.
Regardless of who moves in with whom, the decision to cohabitate with aging parents is a serious one that affects all relationships within a family, careers, finances, and the physical and mental health of everyone involved.
For many families, navigating Medicaid eligibility seems like more of a hassle than a source of help, and the spend down process is one of the trickiest parts. Use this caregiver’s experiences to inform your own Medicaid planning strategy.