Asset Protection & Estate Planning
Protect and Preserve Your Assets
Proper asset protection planning will protect your home, investments and other assets from the spend down requirement of nursing home Medicaid. This planning is not for the rich, but rather for the rest of us, to protect property and savings from the potentially devastating cost of long-term care.
Northland Elder Law has handled hundreds of these cases, and each one is handled uniquely. The correct legal strategy used will depend on the individual circumstances of each family, because no two cases are exactly alike when it comes to nursing home Medicaid.
Proper legal planning allows you to provide for your loved ones after you pass away, in accordance with your desires. It also allows you to maintain control of your assets while living, and provide for your care if you become disabled.
Estate planning is not only for the wealthy or elderly. Anyone with a desire to leave assets to loved ones will benefit from proper planning. Northland Elder Law has helped countless families properly plan for their future and their loved ones as well.
Proper planning must consider the unique circumstances of each family so that the documents are drafted in the correct way to insure the planning will work. We have read financial power of attorney documents created by other professionals that are worded in a way that do not allow for nursing home Medicaid planning. Unfortunately in some of these cases, it was too late to get a proper financial attorney document signed as the individual became incapacitated, and therefore the families were forced to spend down all of the assets. Avoid this devastating result by obtaining correct legal advice from Northland Elder Law.
The following are some of the legal documents utilized in estate planning:
- Health Care Power of Attorney
- Financial Power of Attorney
- Revocable Trusts
- Irrevocable Trusts