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Elder Care

Elder Care and Medi-Cal Planning

If you have an aging parent who is starting to need help managing her affairs, then it’s very important that she does her estate planning sooner than later. Preparing a revocable living trust will save you and your siblings lots of money, time and hassles when it’s time to administer your parent’s estate.

But as important as a living trust is, it may be even more important for your parent to execute a comprehensive durable power of attorney. A durable power of attorney will authorize a loved one to manage your parent’s finances and assets if she is no longer able or willing to. Without a durable power of attorney, your parent could be subject to a very intrusive and expensive court supervised conservatorship.

If your parent needs skilled nursing care, it may be possible for her to qualify for Medi-Cal. If she qualifies for Medi-Cal, the state of California will pay for her care. The average California skilled nursing facility costs approximately $8,000 per month. Depending on your parent’s assets, it may not be easy to qualify for Medi-Cal benefits, and it may take a good amount of planning. The earlier your parent starts the Medi-Cal planning process, the easier it will be to position her assets to qualify and preserve the family assets.

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