Advanced planning can be essential in protecting your assets

| Feb 19, 2016 | Long-Term Care Planning |

Michigan residents may understand the importance of creating documents that protect their assets once they pass away. These documents, such as the person’s will, allow the probate court to make determinations on what to do with a person’s property once the individual has passed. However, individuals should also recognize that there may be other times when they need to protect their personal property before they pass away.

There are times when individuals need special protections for their assets prior to their death. In particular, individuals need to protect their property when they are suffering from serious and life-threatening illnesses. In many cases, people may lose their mental faculties and be unable to make decisions on their own. With the right documents in place, individuals can still rest assured that their property is being used in the way they want.

Long-term care planning is an important aspect of the estate planning process in Michigan. Individuals cannot rely on their health forever. Instead, they need to make plans for how to respond should they face a long-term illness. With the right planning, individuals can protect their right to Medicare and Medicaid while making the most of the assets they have available.

In many situations, an attorney is necessary in order to make and meet these goals. The attorneys at our law firm have years of experience in working with Michigan residents to preserve and maintain a person’s lifestyle even during a health crisis. We can help people understand their legal rights and options prior to any issues arising. With our help, long-term care planning is possible and can be successful. For more information about long-term care planning and our law firm, please see our estate law webpage.