Top Estate Planning & Probate Lawyer Ashley Sharek founder of Sharek Law Office, LLC, in PA, highlights the things that many people are unaware of when it comes to Medicaid planning. For more information please visit https://www.shareklaw.com
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In a recent interview for World Alzheimer’s Day on September 21, leading estate planning lawyer Ashley Sharek, founder of Sharek Law Office, LLC, revealed advice for Medicaid planning that many people are unaware of.
For more information please visit https://www.shareklaw.com
When asked to comment, Sharek said, "It's no secret that Alzheimer's is a life-changing disease which requires the patients to receive round-the-clock professional care in a nursing home at some point."
The great news, she said, is that many people are eligible for getting their nursing home expenses covered by Medicaid.
However, many people are unprepared to cover these expenses with Medicaid and other assets when their family members are stricken with advanced dementia or diagnosed with Alzheimer’s.
“The best thing to do is to put together a solid estate plan that includes Medicaid planning before Alzheimer's disease progresses or becomes more advanced.”
One reason that makes this so difficult, according to Sharek, is that many families are in denial when a loved one is at the beginning stages of mental decline.
“Early planning is vital when the person in question still has the mental capacity to make financial decisions and to put a robust financial and legal plan in place. This will work toward ensuring that all medical-related and other expenses are covered,” she added.
According to Sharek, if no action is taken and someone is diagnosed with Alzheimer’s, then it’s likely their family will find themselves in guardianship proceedings. This means that the court could ultimately control what happens with the person and the subsequent transfer of the loved one's assets.
When asked to explain further, she said, “One of the major downsides to this is that the court might make a judgment that runs contrary to the wishes of the person with Alzheimer’s and that person’s family.”
Sharek concluded. “It’s better to be prepared for the worst-case scenario and to secure control of your assets. An experienced estate planning or elder law attorney will be able to help you put all your legal and financial affairs in order and to create a solid Medicaid plan.”
Source: http://RecommendedExperts.biz
Contact Info:
Name: Ashley Sharek
Email: Send Email
Organization: Sharek Law Office, LLC
Address: 105 Maple Dr, Warrendale, PA 15086, United States
Phone: 412-776-6758
Website: https://www.shareklaw.com
Release ID: 89106679
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