New Yorkers with concerns about loved ones and want to make certain they are taken care of when they are incapable of taking care of themselves should understand the alternatives they have under the law. One method is through a guardianship. This is especially important when it involves senior citizens who might need long-term care. Having a grasp about the basics of a guardianship is a fundamental aspect in any situation. As always, legal help is also a critical aspect of ensuring an elderly and infirm loved one is cared for.
As New Yorkers grow older, they will inevitably need to pay stricter attention to their healthcare requirements. This often results in high costs that are not covered by insurance and Medicare. A prime example of this is when an elderly person needs to receive long-term nursing care either in a facility or elsewhere. Since it can be so costly and most people do not have the assets or income to pay for it, Medicaid is needed. There are frequent misconceptions about Medicaid. Those who believe they might need it should seek legal assistance when trying to be approved.
When New Yorkers are confronted with the reality that an elderly loved one is no longer fully capable of handling their own affairs, it might be necessary to consider a guardianship. While it might sound intimidating to think about guardianship elder law, the law is relatively straightforward. There are certain criteria that must be met, but, if it is in the best interests of senior citizens or anyone else who is unable to adequately care for themselves, it is wise to understand how it can be done.
Dealing with an aging loved one in New York is never easy. So many issues will come to the forefront when it comes to protecting loved ones who are senior citizens. Deciding on whether assisted living or a nursing home is the best possible living arrangement, assessing financial ramifications and if Medicare can cover the payments, and taking estate planning steps are all part of the process. People who are dealing with this situation and all its inherent issues should be aware of the need to have legal advice.
Many residents of Rochester, New York, both those who are independently wealthy and those who have been working and saving all of their lives, will likely need to stay in a nursing home or other assisted living facility near the end of their lives. However, these facilities can be quite expensive, with total bills for an extended stay running easily in to six figures.
A previous post on this blog urged Rochester, New York, residents who were thinking about drafting a will to resist the temptation to just give away property to his or her loved ones immediately. As that post pointed out, the problem with doing so is that it leaves a person without the ability to control his or her own property. This can be a scary prospect even for families that seem to be loving and close-knit.
Many people in the Rochester area recognize as they continue to age that one day, they will not be able to continue to handle their own financial affairs without some assistance. In some cases, the person may not even be able to make sound decisions about their own living arrangements and basic needs.
As previous posts on this blog have discussed, many middle class residents of Rochester, New York, who have worked hard all of their lives may find themselves in a bind as they approach old age and retirement. They will either have to fork over tens and possibly hundreds of thousands of dollars to pay for medical and nursing home care, or they will have to rely on Medicaid for help once they stop earning income.
Long-term care in a nursing home or other facility, or even in-home care, is very expensive, so expensive that it can put an elderly or ill Rochester resident in dire financial straits. It is therefore important for Rochester residents, in the course of their end-of-life and estate planning, to account for these expenses that many people in New York have to undertake since they need the medical care.
Most people in New York face health issues as they age that could lead to an increase in their health care expenses. This is especially true for women. In fact, according to a 2016 report, health care costs women age 65 will incur while they are retired total about $314, 673. This amount is 18 percent higher than that men of the same age would pay. This means that when it comes to long-term care planning, health care expenses should be kept in mind.