While it can be an uncomfortable subject to think about, it is important to write down instructions for what medical care you wish to receive if you are incapacitated and unable to communicate near the end of your life. However, this planning process can be a procedurally complicated one, since you need to determine not just what types of treatments you want but also how you—or loved ones acting on your behalf—will pay for them.
Assistance from an experienced estate planning attorney could make every step of long-term care planning in Manhattan much easier. Even if you are not yet sure what healthcare directives you would like to include or what your options are, discussing your unique situation with qualified legal counsel could be a critical first step to making an enforceable and comprehensive plan.
What Should a Long-Term Care Plan Address?
While identifying a preferred care facility and creating a budget for related expenses is an important component of any long-term care plan for a Manhattan resident, these are not the only factors that such a plan should cover. For example, it can be crucial for long-term care plans to define exactly what kinds of medical treatment the testator does and does not want to receive, especially when it comes to end-of-life or hospice care.
In addition, it can be helpful to name a specific person or specific people who will be responsible for executing upon the directives included in a long-term care plan. It could also be valuable to grant permission for certain family members to make decisions regarding medical care on an incapacitated testator’s behalf. An estate planning attorney could provide further clarification about options like power of attorney and advance healthcare directives, all of which could be included in a comprehensive estate plan.
Finally, it is important not just to establish how long-term care plans will be financed, but also to consider how paying for those plans could impact loved ones in the future. For instance, if a long-term care plan includes a directive that would require a family member to take time off work to carry out, it might be a good idea to set aside funds to compensate that family member for lost wages, or for other expenses they might accrue.
Medicaid Eligibility in Manhattan
Many families throughout New York depend on Medicaid to pay for various healthcare services, and funding from Medicaid can be factored into the long-term care planning process in Manhattan. However, there are strict eligibility requirements set by federal law for coverage under Medicaid, and any assets or properties a person owns when it is time to execute their long-term care plan could count against their Medicaid eligibility.
Because of this, it may be necessary to specify within a plan how specific assets will be distributed, sold, spent, or put into trusts to ensure that funding from Medicaid is available for specific end-of-life services. Guidance from a seasoned lawyer can be especially crucial in situations like this.
Contact a Manhattan Attorney for Help with Long-Term Care Planning
Even if you have enough money saved up to ensure you receive the care you want at the end of your life, establishing plans regarding the specific care you wish to receive and how it will be paid for can be complex. Having help from capable legal counsel can take a lot of stress away from you and your loved ones, and may be key to setting up a comprehensive and enforceable plan.
If you have questions about long-term care planning in Manhattan, you should reach out to one of our attorneys sooner rather than later. Call today for an initial consultation.