Protect Your Assets with Long-Term Care



Long-term care can bring significant financial and legal decisions for individuals and families. Planning ahead gives you time to consider how care may be paid for, who can make decisions on your behalf, and how you want your assets handled.

At Katz and Baehre, we help families in Amherst, Buffalo, Clarence, Erie County, and Williamsville, NY, work through elder law and estate planning matters with a focus on their individual circumstances.

Why Plan for Long-Term Care Early?

Care needs can change over time, and waiting until a crisis may limit the choices available. Long term care planning can help you review your resources, prepare important legal documents, and understand potential care and payment options. An estate lawyer can help you consider how your plan fits with your will, trusts, and other arrangements.

Planning early can also help loved ones understand your preferences and responsibilities. While no plan can predict every future need, putting instructions and decision-making authority in place can make it easier for family members to act when needed.

Ways a Plan Can Help Protect Your Assets

A thoughtful plan considers both your care needs and your financial goals. Depending on your circumstances, planning may include:

• Reviewing assets, income, and existing estate planning documents.
• Considering how long-term care costs may affect your financial resources.
• Preparing legal documents that identify who can make financial or health care decisions if you cannot.
• Discussing whether trusts or other planning tools may fit your goals.
• Learning whether Medicaid planning is relevant and what rules may apply.

A trust attorney can explain how a trust may fit into a broader plan, while a will lawyer can help ensure your will reflects your wishes. The right approach depends on your family, assets, health, and timing.

Understanding Medicaid and Eligibility

Medicaid may help pay for certain care for people who meet applicable eligibility requirements. Those requirements can be detailed, and financial decisions made without guidance may affect eligibility or other options. A Medicaid planning lawyer can help you understand the rules that apply to your situation and discuss planning choices before you make significant changes to your assets.

Avoid relying on general assumptions about eligibility or transferring property without first understanding the potential consequences. A nursing home planning attorney can help you consider care arrangements alongside the legal and financial steps that may be involved.

Include Your Family and Decision-Makers

Long-term care planning often involves conversations with the people who may help carry out your wishes. Clear documents can identify who is authorized to make decisions and provide direction about your preferences. These steps may also help families understand how a plan relates to estate administration and probate.

Some families have additional legal considerations, including kinship cases or questions about a relative’s care and decision-making. An elder law attorney can help identify which issues may need attention and explain how they connect with your broader plan.

Create a Plan That Reflects Your Priorities

There is no single long term care planning strategy that works for everyone. Reviewing your goals with an attorney can help you understand available options and coordinate care planning with your will, trusts, and estate administration documents. Katz and Baehre assists individuals and families throughout Amherst, Buffalo, Clarence, Erie County, and Williamsville, NY, with elder law and estate planning matters.

Contact Katz and Baehre to discuss your long-term care planning goals and the steps that may help prepare you and your family for the future.