Today, Americans are living longer than they did 50 years ago, and with proper legal planning, they can have the opportunity to live full and rewarding lives well into old age. Everyone deserves to retain as much independence as possible, which is why it’s so important for you and your family to meet with an elder law attorney to discuss legal strategies to ensure that happens.
Attorney Robert Slutsky has focused his practice on elder law for more than 30 years. Following are some strategies to help you plan for the possibility of encountering disabilities, cognitive impairment, health conditions, and other issues so you can age with dignity.
Powers of Attorney
Certain health conditions, like dementia or physical disabilities, can make it difficult for seniors to manage their own affairs. They may need help paying bills, making financial decisions, or making decisions about their personal care or medical care. If a senior becomes physically or mentally incapacitated due to an injury or illness, they still deserve to have some measure of control over what happens to them while they are being treated. If you haven’t named a trusted friend or family member to hold your powers of attorney, it could be others making these decisions for you.
You can appoint a single person to hold both your medical and financial power of attorney, or you can choose different individuals to have each. The person who holds your financial power of attorney (they are your agent) will be able to make financial decisions on your behalf should you be unable to do so. This can help prevent elder financial abuse by allowing a trusted proxy to review any purchases or transfers before they can go through. A financial power of attorney can also allow a person to make important decisions on your behalf, like selling your house to pay for your medical care.
The person holding your medical power of attorney will be empowered to make decisions about your care if you cannot do so on your own. This can allow seniors who are living with dementia or other conditions to maintain their dignity, knowing that they trust the person who is making their medical care decisions for them.
Guardianship
A guardianship functions similarly to a power of attorney in that someone is granted agency to act for another. The major difference is that while you choose your agent in a power of attorney, a judge determines you lack capacity in a guardianship and appoints someone to act as your guardian. You can revoke a power of attorney. Only a judge can revoke a guardianship. While the courts will generally prefer to grant guardianship powers to a close family member or friend, there are situations where other individuals or organizations can be appointed as guardians. That’s why appointing people you trust to serve as agent under power of attorney in your estate plan is so essential, and you should do it as soon as possible. It is the difference between making the choice or having the choice made for you.
Medical Care Planning
Receiving medical care as a person with disabilities or mental incapacity can be very expensive, and planning for this possibility will give you the most choice over what happens to you. Planning for medical care can include ensuring you have some money set aside to pay for it on your own, having the right health insurance policy, or taking steps to qualify for Medicaid, which provides coverage for long term care both at home and at a nursing facility.
If you are concerned about needing long term care in the future, talking to an experienced elder law attorney is the first step you should take. An elder care attorney can look at your current estate plan and suggest updates you may want to make. They can also tell you more about how to qualify for Medicaid and other programs that will help you pay for your long term care in the future.
If you are researching guardianship lawyers in Montgomery County, PA, or nearby, Rob’s experience will allow him to give you the best legal advice about powers of attorney, guardianships, and other estate planning and elder law concerns. Please call (610) 940-0650 or visit our website to request a consultation.