When someone you love is living with multiple sclerosis or another disability, it is natural to worry about their future. You want to make sure they have the care they need, their financial security is protected, and their quality of life remains as strong as possible. But where do you start? Many families struggle to balance their desire to provide for a loved one with the complex rules surrounding government benefits and long-term care costs. The good news is that with the right legal planning, you can take steps today to secure their future while preserving financial stability.
One of the biggest concerns families face is how to provide financial support without affecting eligibility for essential programs like Medicaid or Supplemental Security Income (SSI). Many assume that leaving money directly to their loved one is the best option, but this could unintentionally disqualify them from benefits. Instead, a special needs trust offers a way to set aside funds for their care while ensuring they continue to receive the assistance they rely on.
Legal protection should be considered just as important as financial planning. Health care planning tools and durable powers of attorney allow you to designate a trusted person to make decisions if your loved one is unable to do so. Without these documents, families often face stressful legal hurdles when trying to access medical records or manage financial matters on behalf of their loved one. Taking the time to put these plans in place now can help avoid complications down the road.
Another key part of planning is considering long-term care needs. As conditions progress, care requirements may change, and having a plan in place for home care, assisted living, or skilled nursing can prevent last-minute decision-making under stressful circumstances. Medicaid planning can be a powerful tool to help cover these costs while protecting family assets.
While planning for a loved one’s future may seem overwhelming, you do not have to navigate it alone. Understanding Florida’s estate planning and Medicaid rules can be complex, but with the right guidance, you can make informed decisions that provide stability and peace of mind for your family.
We know this article may raise more questions than it answers. At Britton G. Swank, P.A., our mission is to guide you in the right direction to help you provide for yourself and your loved ones no matter what the future holds. We want to help you control the assets you have, leave them to people and causes you care about, when you want, in the way you want. We can help you take care of yourself and those you love in the event of disability due to illness, injury, or old age. No matter what risks unfold, we can help give you the comfort of knowing you are prepared. We want you to feel good about your future and the future of your loved ones. We encourage you to contact us and schedule a meeting.