No matter where we live, our income, or what political views we hold, all of us face the prospect that we are growing older in a constantly changing world. Navigating this changing economic and cultural environment can create anxiety and uncertainty for the elderly.
Seniors provide a rich source of untapped knowledge, experience, and wisdom, yet; many fail to plan adequately for a time when they may be faced with challenges unique to an older population. Aging can be more difficult if adequate planning hasn’t been done to anticipate expected future life chances.
The Importance of Understanding Long-Term Care Planning in Florida
Long-term care is designed to meet health needs for an extended time. These services help aging Americans live as independently and safely as possible when they can no longer perform everyday tasks and activities on their own.
Florida long-term care planning is a legal strategy that helps aging Americans plan for the high cost of different health care services as they age into their golden years of life. Proper long-term care planning can assist you or a loved one avoid the worry and drain that Florida healthcare costs will have on your savings and your hard-earned assets you may have planned to pass down to your family members.
FLORIDA ANNUAL MEDIAN COST OF CARE (2020)
|IN-HOME CARE||COMMUNITY/ASSISTED LIVING||NURSING HOME FACILITY|
|Homemaker Services $53,768||Adult Day Health Care $19,240||Semi-Private Room $93,075|
|Home Health Aide $54,912||Assisted Living Facility $51,600||Private Room $105,850|
What is Florida Medicaid Planning?
Medicaid planning can be complex and overwhelming. But with the right elder law attorney, like The Law Office of Dana Bowie, can help you prepare for the future possibility of long-term care in Florida. Medicaid can be a massive benefit towards protecting your assets, especially if you need Florida nursing home care or in-home care. An experienced Florida elder law attorney can assist with Florida Medicaid eligibility while protecting your assets.
To receive Medicaid benefits in Florida, you or a loved one must meet eligibility requirements. To qualify for benefits, you must:
- Be over the age of 64; or
- Be pregnant or have a child 18 or under; or
- Be blind or disabled; or
- Have a child, parent, or spouse in your household who is blind or disabled
Without the aid of Medicaid, the cost of a Florida nursing home can wipe out your family’s savings, retirement funds, or an inheritance for your loved ones. Our Longwood, Florida law firm can help you plan to protect your hard-earned savings from being spent down to pay for long-term care.
How a Florida Elder Law Attorney Can Help Plan for Long-term Care
Most elder law attorneys in Florida have a specialty; they still have an overarching understanding of the legal issues that impact your aging. Things you may have never considered as important can significantly impact your senior years’ success. Some areas of long-term planning our Florida elder law attorneys can help you or a loved one navigate includes:
- Preservation/transfer of assets seeking to avoid spousal impoverishment when a spouse enters a nursing home.
- Medicaid and Medicare claims.
- Disability planning, including use of durable powers of attorney, living trusts, “living wills,” for financial management and health care decisions, and means of delegating management and decision-making to another in case of incapacity.
- Conservatorships and guardianships.
- Estate planning, including planning for the management of one’s estate during life and its disposition on death through the use of trusts, wills, and other planning documents.
- Administration and management of trusts and estates.
- Assistance with long-term care placement in nursing homes and life care communities.
- Nursing home issues including questions of patients’ rights and nursing home quality.
The Law Office of Dana Bowie is here to help you and your loved ones understand Estate Planning, Elder Law, Probate, and Trusts at our Longwood, Florida law firm. We welcome you to contact us to learn more about how we can help meet your Elder Law needs in Orange County, Seminole County, and surrounding Central Florida areas.