Older individuals and people caring for loved ones with special needs have a unique set of estate planning concerns. Even if the potential need for nursing home or other long-term care seems far off, the Medicaid and Mass Health rules make it a good practice to begin to think about estate planning strategies as much as 10 years in advance of when you think you might need long term care assistance.

Important consideration include:

• How to protect assets and prepare for the contingency of long term nursing home care.
  
  
  • How should assets be divided among older spouses
  • How does gift giving or other asset transfers to children or loved ones impact qualification for benefits
  • How can you minimizing or avoid the Commonwealth of Massachusetts’ right to recover assets from a deceased Medicare recipient’s assets.
    
    
• How do I apply for MassHealth (Medicaid)? Will I qualify?
  
  
• What steps can I take to provide for the care and wellbeing of a child or loved one with special needs or disabilities when I am unable?
  
  
• Planning for unexpected incapacity through a health care proxy and durable power of attorney including specifying:
  
  
  
  • Who will manage your bank accounts and other property if you are unable
  • Who will make medical care decisions if you are unable
  • What type of care you would like to receive under certain circumstances
    
    
• If the value of your assets (including real estate and any potential life insurance proceeds) is of sufficient size, you should consider planning strategies that allow you to:
  
  
  • Optimize utilization of estate tax deductions and exemptions for married couples
  • Deferring or avoiding payment of state and federal estate taxes
  • Avoid the time and expense associated with probating an estate

Free Initial Consultation

To schedule a free initial consultation please visit our Appointment page. Weekend appointments and home visits are possible.