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Long Term Care Planning: The 4 Essential Documents You Need

Long Term Care Planning: The 4 Essential Documents You Need

Anyone faced with care-giving responsibilities should have long term care planning documents that allow them to act on behalf of the ill or incapacitated person. Without such documents family members and even spouses can be prevented from accessing or managing financial accounts. It also gives peace of mind that someone can act for you. By naming that person before you need them you avoid unnecessary delays for the decision makers and the possibility of family power struggles. In addition, having the proper documents can make long term care planning, and qualifying for public benefits such as Medicaid possible.

Long Term Care Planning Documents

Durable Power of Attorney

– Should contain special provisions that allow long term care planning by family members such as setting up a qualified income trust, contracting for services, sale of homestead, or gifting.

– Allows you to limit the authority you give the agent.

– Durable means it is effective even if you become incapacitated.

Advance Health Care Directive

(a/k/a Designation of Health Care Surrogate and/or Living Will)

– Names a “Surrogate” to make decisions for you IF you are unable to communicate your wishes.

– Can allow access to physicians and medical records.

– Can contain living will provisions that specify your thoughts regarding end of life decisions.

Last Will and Testament

– May need special needs trust provisions for an ill spouse or for a disabled child. Assets that pass via a Last Will and Testament will go through probate if titled in the deceased persons’ name alone.

Trust

-A Revocable Living Trust holds ownership to your assets with you as the trustee during your lifetime. At death it becomes irrevocable meaning your wishes must be followed with regard to the disposition of assets unless amended by the court. There is no probate for your assets as long as the trust is “funded,” meaning your assets have been retitled into the name of the trust.

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    Attorney Bowman and her entire staff were friendly and extremely professional. I was referred to her because I needed an attorney that was knowledgeable of establishing special needs trusts. She was able to guide me in establishing a will and a speci...

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    I received excellent service from this firm and staff via phone calls or email. Correspondence was always clear, all questions were answered and explained in detail. I would recommend this firm to others.

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    Rachel and the entire staff at Teresa K. Bowman P.A. firm provided friendly, professional, and quality estate planning for our family. Thank you.

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    She was very knowledgeable in preparing my will and trust documents. She was responsive and professional in her dealings with me. I would highly recommend her.

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    Working with Rachel as my lawyer was all around a great experience. She is an expert in her field, highly professional, responsive in a timely manner, and most of all I trusted her with my case. I would highly recommend her as a lawyer and would use ...

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  • "The National Elder Law Foundation (NELF) – the only organization approved by the American Bar Association to offer certification in the area of elder law, has announced that Teresa K. Bowman, Esq., of Sarasota has successfully completed its examination leading to such certification."

  • "I am pleased to announce that I have joined the firm of McLin Burnsed, based in Leesburg and in The Villages Community, as an attorney of counsel. McLin Burnsed has maintained a presence in the Leesburg and Villages area for over 45 years and are expanding their practice to include Elder Law."

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