Estate planning is important for those who want to protect their assets from a nursing home, avoid federal and state taxes at death, protect their finances should they become disabled, either physically or mentally and need other persons to take care of their assets. People are concerned about what will happen to their estate before they die, or at the time of their death, if they, or their spouse, need to enter a nursing home, and receive Medicaid. An elder attorney can analyze their estate from different angles and can provide sound advice that may save that family thousands of dollars.
Additionally, Attorney Nancy Busch can prepare legal documents to place someone in charge of that person’s finances should they become disabled and cannot take care of their financial responsibilities. Through a Durable Financial Power of Attorney an agent whom they select can be appointed for this purpose who can take over their financial affairs on a moment’s notice. Attorney Nancy Busch can also prepare a Healthcare Power of Attorney appointing the person of choice to make health care decisions if the person becomes incapacitated. If the individual becomes incapacitated and has no valid power of attorney, a guardianship proceeding can be instituted on their behalf.