Disability Planning For Yourself

A Disability can be either a physical disability or a cognitive disability. In both circumstances, the person with the disability may need the help of other people to pay bills, talk with physicians, etc. In order for another person to have the legal authority to provide that help, they should have validly executed powers of attorney.

A Durable Power of Attorney for Health Care will permit an agent to speak with physicians and gain access to medical records when the principal can no longer personally do these acts.

A Durable Financial Power of Attorney will permit an agent to continue paying bills, have access to bank accounts, talk with insurance companies, etc.

For people who are older and needing long-term care, special provisions should be placed into the power of attorney to provide for the possibility of selling specific real estate, creating a Miller Trust, or engaging in Life Care Planning, Veterans Benefits Planning, or Medicaid planning. A generic general power of attorney is rarely sufficient in these cases.

Disability Planning For Others

Many people would benefit from planning for the disability of others, such as a spouse who has a disability or an adult child who has disabilities. It is becoming more common that elderly parents are the primary caregivers of adult children with disabilities. A plan must be put in place to ensure the adult child with disabilities is taken care with regard to financial, health care, and residential issues in the event the elderly caregiver passes away.

This specific type of planning may include powers of attorney, special needs trusts, and wills with special language to protect the beneficiary who has (or is projected to have) disabilities. In many cases a person can preserve all their assets to provide for the health and well-being of the person with disabilities, while that person is also receiving government assistance to pay for long-term care.

For people under the age of 65 who are disabled, they may benefit greatly by placing their own assets into a special needs trust, naming themselves as beneficiary, and then qualify for Medicaid benefits to assist in paying for the cost of their care.

If you have a spouse, child, or grandchild who has disabilities, or if you are under the age of 65 and are disabled, call The Elder & Disability Law Firm of Victoria L. Collier, PC to schedule a consultation to discuss your options.

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