When your loved one loses the ability to manage her personal needs and/or financial affairs and hasn't planned in advance for this unfortunate situation, a court proceeding called a guardianship may be necessary. Why? Because your loved one no longer has the ability to act for herself, someone must be appointed by the court to act on her behalf. Our caring and experienced attorneys will help your family get through this difficult time and guide you through the process. We will file a guardianship petition in court and a judge experienced in such matters will hear the case and decide whether your loved one has the capacity to make decisions. If the judge decides that your loved one needs help, the judge will decide what type of assistance is needed, i.e., managing personal needs and/or managing property/financial affairs, and the judge will appoint a guardian to assist your loved one. A personal needs guardian makes decisions related to your loved one's personal needs such as medical treatments, living arrangements and/or social environment. A property management guardian will collect, organize and protect your loved one's assets, collect income, pay bills and engage in Medicaid planning and/or file a Medicaid application.
The high cost of long term care in New York makes planning extremely important for most seniors and their families. The average cost of a nursing hone on Long Island is presently $12,811 a month!! The high cost of paying for such care usually spells financial disaster for families who haven't taken the time to properly prepare. Although Medicaid may pay for such care, Medicaid eligibility rules are complex and require expertise in complying with regulations, look back periods, income caps, transfer penalties and waiting periods. Our office has the experience necessary to guide you and your family through this process and will identify and develop appropriate asset protection strategies tailored to your needs so that you are eligible for Medicaid if and when you need it.
You have to plan ahead if you want to protect your loved ones when you pass away or become disabled. A good estate plan includes a Will, Power of Attorney, Health Care Proxy, Living Will and, perhaps, a Medicaid Asset Protection Trust. At a minimum, you may need:
a Will which dictates the division of your assets when you die according to your wishes
a Power of Attorney which enables someone you trust to step in and help you manage your financial affairs should you become incapacitated while you are still alive
a Health Care Proxy which allows you to appoint someone in advance to make your health care/ medical decisions while you are still alive should you not be capable of making those decisions
a Living Will which provides guidance for your doctors and loved ones regarding your wishes should you become terminally ill
a Medicaid Asset Protection Trust (a type of Irrevocable Trust) if you own your home or have assets that you want to preserve for yourself or for your family. As Elder Law Attorneys in Copiague and Medicaid Planning Attorneys in Copiague we are here to help you with all your Elder Care and Medicaid Planning Needs.