What is
Life Care Planning?
What is
Life Care Planning?
Life Care Planning Explained:
Our team of VA-accredited attorneys and paralegals will craft a plan to put you on a path to successfully handling your affairs and protecting your legacy. Although some life care plans are more complicated than others, just about everyone can benefit from having one.
A quality care plan can help you with the following:
- Being in control of your own decisions
- Protecting your legacy
- Naming a guardian for your children
- Avoiding probate
- Creating a business succession plan
1. Being in control of your own decisions
Without the proper estate documents, decisions concerning your financial and medical decisions will be determined by the government. Your will allows you to distribute your assets as you wish (instead of following your state's intestacy laws).
Powers of attorney (both durable and medical) empower a trusted person to make financial and medical decisions on your behalf in the event of your incapacity, and an advance directive makes your end-of-life decisions known beforehand. The absence of these documents means those decisions may need to be brought before a court.
2. Protecting your legacy
When you consider leaving a legacy for the next generation, it may have lofty pursuits. However, those aren't necessarily reasonable goals for everyone. Leaving a legacy can also mean making certain that heirs properly respect all the effort and sacrifice that it took to save and create a retirement fund—whatever its size.
3. Naming a Guardian for your children
Naming a Guardian for your children can only be done through estate planning documents. In most states a will is the only document where you can legally name a guardian to raise your children. If your estate planning documents don't name a Guardian, the courts will name one for you, and it may not be the person you would have chosen.
4. Avoiding probate
Probate is expensive, complicated, and time-consuming. You don't have to be part of the 1% to want to avoid putting your family through the stress and expense of probate. Creating a trust and strategically placing assets within its control, eliminates many headaches.
5. Creating a business succession plan
Among the countless small businesses in the U.S., most will continue to remain viable after the legacy owner dies. A business owner can plan for this within an estate plan, which details exactly what they want to happen, if they die unexpectedly. That could include outlining specific roles and responsibilities for surviving heirs or putting into place a buy-sell agreement with a business partner and directing the distribution of the proceeds of the sale.
By working with our experienced team, we can help you avoid common estate planning mistakes that can impact your family and finances. We also work with you to update your outdated plan to make sure any life events such as divorce, the birth of children or grandchildren, and changes in tax laws might impact your initial intentions.
Contact Us Today and Make a Plan.
From wills and trusts, to powers of attorney, our team will work with you to protect you while you are alive and your loved ones after you have passed away.
Frequently Asked Questions
What documents do I need to apply for Aid & Attendance benefits?
Our team will assist you in gathering all necessary documents required by the VA, including:
- Your DD-214 Military Discharge papers
- A copy of your current Social Security Award letter
- Proof of all income and assets
- Documentation of unreimbursed medical expenses
- A medical assessment confirming Homebound Status or Permanent Need for Aid & Attendance
How long does it take to be approved for benefits?
The time frame for approval depends on the workload of your region's pension center. Our firm will ensure your application is completed thoroughly and submitted under the VA’s Fully Developed Claim (FDC) process, which minimizes delays. Most applications are processed within 4–6 months.
What happens if my application is denied?
If your application is denied for unjustifiable reasons, you can file an appeal with the VA. Although we do not handle VA appeals, you will not be charged any fees for our life care planning services.
I already receive VA disability compensation. Am I still eligible?
You cannot receive both VA disability compensation and the Aid & Attendance pension. However, you can qualify for and receive the higher of the two benefits.
Why is life care planning important?
Life care planning helps preserve the value of your assets, minimize unnecessary taxes, and ensure your loved ones receive what you intended. It also protects your privacy and gives you control over healthcare and financial decisions in case of disability.
What constitutes my "estate"?
Your estate includes all your assets, such as real estate, business interests, personal property, cash, retirement accounts, and life insurance benefits.
What documents are included in my estate plan?
Our comprehensive estate plan includes:
- A Will
- Financial Powers of Attorney
- Healthcare Powers of Attorney
- An Advance Directive for end-of-life care
- A family estate report that offering a clear summary of your current plan
How does a life care plan benefit my loved ones?
A life care plan reduces the burden on your family by clearly outlining your wishes regarding finances, healthcare, and end-of-life decisions, preventing difficult choices during challenging times.
How do I start conversations with my family about my wishes?
My Veteran Solutions can can guide you in discussing your plans with your loved ones. We provide tools like document explanations, conversation starters, and scripts to help you navigate family dynamics.
I have no spouse or children. Do I still need life care planning?
Yes, life care planning ensures your assets go to the person or organization of your choice rather than being distributed by a court. Beneficiaries can include relatives, friends, or charitable organizations—anyone except the attorney drafting your will.