A personalized estate plan is critical to protecting your assets and your loved ones should you pass away or become incapacitated. Estate plans maximize the benefits that your assets can provide during and after your life. At RMSHC, we will create an estate plan that will ensure that your wishes are carried out with kindness and compassion.
We will do this by creating one or more of the following:
Guardianships are a legal process, utilized when a person can no longer make or communicate safe or sound decisions about his/her person and/or property or has become susceptible to fraud or undue influence. Because establishing a guardianship may remove considerable rights from an individual, it should only be considered after alternatives to guardianship have proven ineffective or unvaluable.
Conservatorships are another legal process to assist an individual in need. The individual must have capacity and must consent to have the conservator appointed on their behalf to manage their property.
Long-term care planning utilizes a variety of services designed to meet a person’s health and personal care needs during a short or long period of time. These services help people live as independently and safely as possible when they no longer can perform everyday activities on their own. According to the National Institute on Aging (NIH), long-term care is provided in different places by different caregivers, depending on a person’s needs.
Long-term care planning requires an in-depth analysis of an individual’s financial circumstance coupled with their care needs. In assessing same, our goal is to create a plan that is as least restrictive for the individual while balancing their care needs and finances to fund same. We look at the individual’s personal assets and any long-term care insurance that they may have purchased to finance their care and any possible government benefits that may be able to help assist. Long-term care insurance covers care generally not covered by health insurance, Medicare or Medicaid. Individuals who require long-term care are generally not sick as traditionally defined and are not able to perform activities of daily living (ADLs), such as dressing, bathing, eating, toileting, continence, transferring (getting in and out of a bed or chair), and walking. Age is not a determination in needing long-term care.