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Medicaid

One of the two principal health care programs operated and funded by the government. Medicaid differs from Medicare in three important ways:

  1. It is run by state government
  2. It is based on financial eligibility requirements, rather than the age of the recipient
  3. It covers all “necessary” medical care. Medicaid provides care at a skilled nursing facility

Long Term Care Insurance

An insurance policy intended to meet the medical and non-medical needs of a disabled or chronically ill patient.

Incapacity Planning

Planning for the possibility of incapacity or disability regarding the control of your property, finance, and health care decisions.

Incapacity

A person who is unable by reason of any physical or mental condition to receive and evaluate information or to communicate decisions to such an extent that he is unable to provide himself with food, clothing, shelter, safety, or other care such that physical injury, illness or disease is likely to occur.

Guardianships

The appointment of a person to have care and custody of a minor or legally incapacitated person by the probate court.

Guardian

Someone who is appointed to have custody of a person who is incapacitated or is a minor. Court appointed guardians must periodically make a report to the probate court regarding the individual for whom they are guardian. Parents are natural guardians for their minor children.

Elder Abuse

The physical, financial, or emotional abuse of an elderly person, usually one who is disabled or frail.

Estate Planning

The preparation of a plan of administration and disposition of one’s estate using a will, trusts, gifts, power of attorney, etc.

Durable Power of Attorney

Power of attorney that does not terminate upon the incapacity of the person who made it.

Division of Assets

When a married person enters a nursing facility, a provision which may help protect some of the couple’s resources for the spouse who is not in a nursing facility.

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