On Father’s Day, we often reflect on all the selfless actions our Dad’s have taken over the years. As we watch our parent’s age, we start to ask ourselves what we can do to help them age successfully. You’d prefer that there were no hiccups, bumps or unexpected turns along the way. So what can you do to help now in order to make the road ahead easier?
The simple answer is, you can help plan ahead. Helping Dad plan for long-term care is the ultimate gift for future success. Let’s be real, long-term planning can feel morose at times, but having it out of the way will be a huge benefit to your family. Here are 3 reasons to help Dad with his long-term care plan this Father’s Day:
When your father is in need of elder law or estate planning, it’s best to have prepared prior. We know from years of meeting with families that if Dad is not feeling his greatest, he most likely does not want to be dragged back and forth to sign papers and sort out legal issues at the law office. The sooner you can have this out of the way, the better. Getting it done while everyone is healthy and of sound mind can be a total lifesaver.
Most people start planning for Medicaid only when they think they need benefits. This is a costly mistake, as Medicaid has strict asset limits, and any transfer of these assets within their “look back” period of 5 years could leave Dad without benefits for a certain period of time. For this reason, it’s smart to plan for Medicaid at least five years prior to need.
3. VA Aid & Attendance
Is your Dad a Veteran? Planning ahead may help him qualify for VA Aid & Attendance. Aid and Attendance is largely unheard of, but it could provide Dad with up to $2000+ in cash benefit each month. While the VA does not have a look back period, having too many assets can disqualify you from receiving this benefit when you might need it. Curious if Dad qualifies? Click HERE to find out.
The Ultimate Father’s Day Gift
This Father’s Day, give the gift of peace of mind by helping Dad create a long-term care plan. You can schedule a consultation online today: https://smithbarid.com/contact