When long-term care is needed suddenly, timing matters. Medicaid crisis planning often involves transferring or repositioning assets. But those steps can only be taken if someone has legal authority to act.
A standard financial power of attorney is often not enough. To implement certain Medicaid planning strategies, the document must specifically authorize gifting and asset transfers. Without gifting authority, an agent may be legally unable to carry out the planning, potentially forcing the family into guardianship.
Unfortunately, many powers of attorney lack the language needed for Medicaid planning. Reviewing your documents before a health crisis occurs ensures that your agent can act if care becomes necessary. The right authority in place today can make all the difference tomorrow. Call today to schedule an appointment to have your power of attorney reviewed.
