Arizona Long-Term Care System, or ALTCS, is a branch of Arizona’s Medicaid program that covers long-term health care for qualifying individuals. As long as applicants genuinely need daily, hands-on assistance, they should not have difficulty meeting ALTCS medical requirements.
They may find more difficulty, however, in preparing to meet ALTCS financial requirements. JacksonWhite can help navigate the process and help you decide if your loved one is eligible and can qualify for ALTCS.
The process of determining the distribution of assets after someone’s passing is called probate. More often than not, their assets must pass through probate before getting to beneficiaries. Somebody close to the decedent generally bears the responsibility of properly distributing the assets. This person is bound by Arizona probate law to exercise a great deal of oversight and attention.
Special needs trusts are used to provide protection and security to disabled persons who may need supplemental income or more financial independence. Special needs trusts are ordinarily used to supplement the assistance provided by Medicaid (AHCCCS and ALTCS) or SSI. Once placed in a special needs trust, funds are set aside for certain uses, and they are not counted for public benefit eligibility purposes.
Powers of attorney can be quite effective at allowing individuals to designate somebody else to make their medical and financial decisions.
However, they cannot override a person’s financial and placement decisions, and sometimes a person becomes unable to exercise sound judgment when it comes to such decisions. Family members presented with this type of a dilemma can protect their loved one by applying for a guardianship or a conservatorship.
Estate planning is the process of anticipating and arranging for the management of one’s estate – home, cars, bank accounts, investments, jewelry, and more – upon the end of their life. Thoughtful estate planning may include wills, irrevocable or revocable trusts, advance directives and more.
In addition to the basic assurances typical estate planning offers, additional layers of security can be implemented for unexpected medical crises and long-term health care needs.
An individual with a sizeable estate may need to take special precautions to avoid probate, to minimize tax liability, or to leave conditional or staged inheritances.
There are a variety of estate planning strategies available that can help a person accomplish these goals, trusts and wills being the most effective. With proper planning, however, a person can effectively weigh the pros and cons to both types of estate planning tools.
Planning for incapacity with advance directives can help a person accomplish two very important goals. Advance directives may contain Health Care Power of Attorney, Mental Health Care Power of Attorney, Financial Power of Attorney, and Living Will.
A person who makes advance preparations can designate a trusted individual to act on his or her behalf and the type of medical care he or she wishes to receive.