When is the Appropriate Time to Seek Legal Advice for my Parent if They are Going into Assisted Living?
Assisted living is a unique type of housing facility made for elderly persons or those requiring medical care and help with their daily activities. People with physical or mental illness also find skilled nurses in these facilities to help them with bathing, dressing, taking medication, using the toilet, and performing other tasks. It is crucial to involve an attorney for legal advice when your parent is going to the Assisted Living. Therefore, you should know when it is appropriate to seek legal advice concerning this. Provision of elder care is quite expensive hence;
- Can drain your assets at 10k a month
- Can burden the children to pay for all the care
- Members of the family may run out of money
- Bring issues with inheritance other than who to care for the parent
There are critical legal issues that you should consult from an attorney before moving a loved one into assisted living. Hence, it is vital to seek legal advice as soon as possible.
- Durable Power of Attorney: Ensure that the family member, caregiver, or whoever has a durable financial power of attorney to sign anything in case the parent needs someone to act on their behalf. The need always arises when the parent may need assistance and special care. Without a durable power of attorney, and your parent not able to have a legal capacity of signing it, there could be a guardianship hearing if legal instruments are not in place. Therefore, it is crucial to ensure that the durable power of attorney is obtained earlier before your loved one is moved into assisted living.
- What to do with the House: There are various options to choose from when you think of what to do with the house of your loved one in care. Some people decide on selling it while others prefer renting it out. However, some people choose to leave the house empty as it is; they neither sell nor rent it. These will be guided by what you intend to workout with the assisted living and the level of care needed. The Mattar Firm will guide you on making such a decision, guided by the discussion on what period your parents owned the home. Tax issues may kindle the loss of tax exemption from the person who will buy the home. Also, it may involve losing homestead exemption and the tax basis on purposes of the capital gains. The attorney should advise on whether to sell the house because it could interfere with the eligibility of Medicaid. Contact us in case you need assistance on decision-making pertaining what to do with a home when moving loved ones into the assisted living.
Kindly contact our elder law lawyers at The Mattar Firm for more information. We are here to serve you!