At Bill McCarthy and Associates we are not attorneys. However, we network with many fine attorneys in the area of Elder Law when necessary.
Because of our extensive expertise in the area of senior long term care issues (Veterans Benefits, Medicaid, etc.), attorneys frequently refer their clients to us for financial guidance. We use attorneys only when particular documents are necessary such as wills, living wills, powers of attorney, and trusts. This helps keep the cost down for our clients.
Most estate planning issues evolve around money. The legal documents actually play a very small, but important, role in the overall estate plan. Most of our focus is usually on obtaining funding for care, protecting assets such as savings and homes, avoiding investment risks, taxes, qualifying for Medicaid, Veterans Benefits and minimizing the cost of long term care.
Many people do not realize how the various financial issues are interrelated. It would be difficult to do an effective estate plan without considering how income, assets, taxes, Medicare, Medicare Supplements, Medicaid, wills, trusts, long term care expenses all effect each other.
Furthermore, older adults have to deal with multiple government agencies that frequently conflict with each other. It becomes very difficult to navigate between Social Security, Medicare, Medicaid, the Internal Revenue Service, Probate and the Veterans Administration. Something that might be permissible by one agency will penalize you in a different agency.
Bill McCarthy and Associates has the expertise to guide you through the maze of government agencies to your best advantage. Call us at 330-656-5580. We can help.