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Veterans of the U.S. armed forces may be entitled to benefits for Medicaid and estate planning

Vero Beach, FL – The U.S. government provides veterans of all military branches and certain family members with access to programs and assistance that can help with issues related to Medicaid, retirement, and financial planning. There are some firms that focus on assisting veterans with these kinds of issues and providing advice and guidance while planning for the future. 

A brief overview of estate planning, healthcare issues, and Medicaid can be useful for anyone who may need assistance in these areas in the near future. 

Benefits that depend on military service

The Department of Veterans Affairs has been known for providing long term care and other forms of healthcare assistance to former service members at hospitals, nursing homes, and other facilities. However, there may also be additional benefits available depending on the particulars of the veteran’s service records and their eligibility. Professionals that are able to assist with these kinds of issues should be accredited with Veteran’s Affairs. 

Estate planning issues

Estate planning encompasses a number of different areas related to property distribution, inheritance, and financial planning for various contingencies and events. Typical estate plans include legal instruments such as trusts, wills, power of attorney, insurance beneficiary designations, and healthcare directives. These documents work in concert to protect the testator and their family from financial issues that may be related to sudden emergencies, incapacity, healthcare costs, and the passing of a family member. The most basic form of estate planning is to simply have a will executed that complies with the state’s laws so that it can go through the formal probate process. However, many families and individuals will also benefit from looking into other issues. 

Legal advice is necessary for a family to create an estate plan that meets their specific needs and addresses many of these life changing contingencies. Some veterans may also qualify for special programs that will help with their estate plan.  

Healthcare costs

As people age, their healthcare costs tend to increase drastically, which can result in all kinds of financial problems. Medicaid planning is one way of trying to offset these costs, and there are also other things that can be done to protect a family’s wealth and assets. Standard health insurance may help in some situations, but additional steps are often needed, especially if any required treatment or procedure has a high deductible. 

Learning more from an experienced estate planning firm

Anyone who wants more information about these issues can contact a respected firm in the Vero Beach area for assistance and guidance. The Estate, Trust, and Elder Law Firm helps veterans and others with their plans for the future. 

Firm contact info:

The Estate, Trust, and Elder Law Firm

850 NW Federal Highway, #1004, Stuart, FL 34994

772-261-8556

www.etelf.com

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