Why is Now the Right Time for Medical and Estate Planning?

If you haven’t started your estate planning yet, we don’t hold it against you. There are so many reasons why individuals might choose to put it off. At the end of the day, you’re still healthy and will have plenty of time to get to your estate planning down the road. This may be true, but that doesn’t make your estate planning unimportant. In fact, there are many reasons why now is the perfect time to take action and get started!

Taking Advantage of Your Current State

Many people believe they shouldn’t start medical and estate planning since they’re perfectly healthy at the moment. On the contrary, we believe you should begin planning because of your excellent health.  There’s no need to wait for a medical scare to remind you it’s time to start the process. In addition, Medicaid support is largely based on your means at the time of your application. This means that qualifying for the care you deserve will be impossible unless your assets are properly redistributed. Taking care of such matters now, rather than after a medical crisis, is ideal for going about this.

Considering Major Risks

What are the most significant risks to our health at this very moment in time? COVID-19? While you might think so, since the pandemic is still such a major factor in our lives, the virus was actually the third most common cause of death in 2020. At numbers 1 and 2 were Heart Disease and Cancer, respectively. So these risks are still very much present, and we need to do everything possible to ensure we receive proper treatment in the unfortunate event that these risks become our reality.

Giving Yourself Options Down the Road

The earlier you start your medical and estate planning, the more financial flexibility you will be granted in the future. An experienced attorney has the means to help you open accounts and trusts that can help finance your medical care and retirement when the time comes for you to settle down. Getting an early start actively helps you maximize the chances of living comfortably and securely as you move into the later stages of life.

Start Your Medical and Estate Planning with NY Elder Law Group

We offer a complete range of estate planning, long-term care, elder law, Medicaid planning and asset protection services. Our goal is to prevent problems before they occur, and we work with hundreds of families to develop care options that work for their goals and budgets. Interested in learning more about our services? Just pick up the phone and call us at (718) 878-6732!