Long Term Care Planning and More

Each morning I go online to read the several daily elder law updates I receive from various sources. This morning I read that Legal Zoom "one of the most prominent sellers of do-ityourself wills and other estate planning documents, in the target of a class action lawsuit in California charging that the company engages in deceptive business practices and is practicing law without a license".

I write this article to make note of what I observe to be a growing trend. Often I am presented with documents by new clients that have been prepared by such online providers, or by actual lawyers who do not concentrate in this area of law. The result is that the documents prepared for an individual who is now either deceased or incompetent do not create the results intended. Increasingly I see powers of attorney that do not provide for such things as Medicaid planning if the principal is no longer competent, health care proxies including living wills that are improperly executed and ineffective, wills that leave assets to family members who are now on Medicaid or some other form of public assistance thus simply paying that individual’s debts,
and trusts created to avoid probate that are either completely unfunded or only partially funded, or not Medicaid compliant.

We all live in a much different world these last few years, a world that is increasingly driven by the long term and health care needs of ourselves and our heirs. To make provisions for ourselves and our families takes time, focus, and an ever growing level of expertise. You may save thousands of dollars on the front end in your planning process, but lose hundreds of thousands of dollars on the back end when the plan simply was not thought out and property executed.

So, be cautious, be thoughtful and be thorough.

We serve clients from New York City (Manhattan, Bronx, Brooklyn, Queens), Westchester, and Nassau and Suffolk Counties.  To set up a free consultation with an attorney, contact Cormac McEnery at 1-888-368-4329.