Most individuals are generally familiar with what estate planning entails. It involves a person sitting down with an attorney to draft a will, power of attorney, health care directive or other legal documents. These guide your loved ones, doctors and financial institutions regarding your final wishes. A concept that you may not yet be familiar with is that of long-term care planning. It's a process through which you can decide how you want to be cared for as you age.
Many people don't think about the possible need for long-term care until it's too late. This type of care is costly, and most people won't be able to pay out of pocket for it. Instead, they'll need to have some measure of financial assistance for the costs that come with this type of care. Some individuals hope they'll be able to qualify for Medicaid, but ensuring this can happen may require some special planning.
In short, and elder law attorney is simply an advocate for the elderly and their loved ones. He or she works to plan and administer a multitude of matters specifically affecting the elderly population, or disabled persons. These issues can include long-term care planning, end of life directives, health care issues, retirement accounts, Social Security, Medicare or Medicaid, guardianship matters and more.
For some, the future is full of possibilities and opportunities for exploration, self-development, and growth. However, others take a more sober approach to the future and worry about what they cannot anticipate or control. Regardless of what mindset a Michigan reader has about the coming years, they should be aware that they can take some action to protect themselves, with a long-term care plan.