Protecting Your Assets While Preparing for Long Term Care

As you get older you may begin to worry about the quality of medical care you’ll receive. If you don’t have family or friends who are willing to care for you, then you’ll need to consider some type of long term care. Even if you do have family that can care for you, it may become too overwhelming for them to provide proper care and you will need to rely on a nursing home or assisted living facility in the later years of your life.

An elder law attorney in Tampa can help you arrange for the best type of long term care, including advice on investment policies related to long term care. An attorney can also help you arrange your assets and ensure that all of your assets are protected and allocated to the correct people later in life.

Establishing Trusts and Wills
One area where you may need legal help is establishing trusts or a will. A trust is something you can establish for children in your family and dictate that they do not receive the money until a certain age. It’s the best way to ensure that your children or grandchildren receive the money or assets that you want them to have. A will is a legal document that dictates which assets go to which members of your family, to friends, or even to organizations. You can leave your assets to anyone or any entity that you wish, and your elder law attorney in Tampa can help you understand the laws surrounding the establishment of a will or trusts.

Setting Up Long Term Care
You may not realize how an elder law attorney in Tampa can help you arrange long term care, but you can benefit greatly from seeking the advice of an attorney. For many families, long term care can drain most of your savings and you may fear being left with nothing in your later years. A lawyer can explain your different options and even help you with Medicaid eligibility in an effort to help secure your money. There are different legal options you can take that can reduce the amount you will owe for long term care and an attorney can show you how to put your money into safekeeping.

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