It is never too late to discuss and plan for future long-term care – to make sure you receive the quality care you deserve when needed.
With the cost of nursing home care increasing all the time, it is wise to talk to an experienced Riverside Estate Planning attorney now regarding your financial situation and care plan for down the road. There are many options available, starting with long-term care insurance policies. However, premiums can be high and not affordable to some. When this is the case, proper estate planning is necessary to qualify for Federal and California funding.
If you are thinking about quality care for yourself in the future, contact an experienced Riverside Estate Planning attorney who will discuss every available option pertaining to long-term care planning.
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I have been asked what is included in a basic estate plan.
The most important document is the Will. It is a legal declaration by you that names the person you want to manage your estate and transfer your property and assets after your death - to the individuals you desire. Having a Health Care Directive or Living Will allows you to express what kind of health care you want or do not want if you become terminally ill.
A Power of Attorney naming an individual to handle your finances is important. This person will handle all of your financial decisions if you are unable to do so while you are still alive. A Health Care Power of Attorney is a document that appoints a person to make your health care decisions if you cannot. Naming the same person to handle both would entail only one document.
If you are considering an estate plan or want to change an existing one, contact an experienced Riverside Estate Planning attorney who will provide you and your family with the service and peace of mind you deserve.
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Some of my clients have asked me, “What is involved in estate planning?” Before sitting down to plan your estate, make a list and include:
· Who you want to receive your assets – the beneficiary or beneficiaries?
· List your assets and what you think they are worth
· Who do you want to manage your estate or make decisions on your behalf if you cannot during your lifetime or once you have died?
· Do you have minor children – who should take care of them?
· Where do you want to be laid to rest – buried or ashes scattered – where?
Once you have answered the questions, contact an experienced Riverside Estate Planning attorney for advice on how to proceed, and determine what your next steps should be.
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Have you ever noticed that most people do not want to talk about death, especially if they are young and healthy? Of course, some older folks do not want to talk about it either. By not discussing the inevitable, many people do not take the time to draw up legal documents pertaining to their financial affairs and their care if something happens to them. Statistics show that only 20-30 percent of individuals have filled out these forms.
An experienced Estate Planning Attorney can discuss your options with you. Examples include a living will – details your care if you become incapacitated. A health care proxy will name a person who can make decisions for you.
With a living will, you will still be in charge at the end.
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