Happy New Year! With the holidays behind us and a new year beginning, many of us are feeling a renewed energy for productivity and self-improvement. As a brand new decade begins, it is the perfect time to take stock of all we have achieved and make a promise to ourselves to achieve even more in the year (and years) to come! At Loganzo and Mantell PLLC, we believe that one of the most valuable resolutions you can make for the new year is to get your personal legal affairs in order. We’ve created this checklist to help our clients make sure their personal legal matters are all on track for a great 2020.
Review your medical, disability and long-term care insurance policies.
Make sure you are familiar with your insurance policies. Check to see that they are still appropriate and suitable. Does your current coverage still meet all the needs you have now and foresee having in the future? Now is the perfect time to assess whether or not you might need more, less, or different coverage entirely.
Plan for potential health and custodial care costs.
It is essential to have a plan in place to handle the expensive bills people often face as they age. What will happen if you have a medical emergency or need to move into an assisted living or nursing facility this year? Every year, many people find themselves in these expensive scenarios with no way to afford the care they need but to spend down their assets in order to qualify for public benefits like Medicaid. Plan now to preserve assets to be prepared for your own care and also to leave a legacy for your loved ones.
Create or review your powers of attorney and health care directives.
Powers of Attorney give a representative the ability to make legal and financial decisions on your behalf if you are unable to do so yourself. Health Care Directives describe your wishes regarding medical care and appoints a proxy to communicate those wishes if there comes a time when you are unable to express them. It is extremely important that these documents are comprehensive, current, and properly signed and witnessed and that the individuals appointed by your are provided with copies and understand your wishes.
The attorneys at Loganzo & Mantell PLLC have extensive experience drafting Powers of Attorney and Health Care Directives, reviewing insurance policies, helping clients plan for the future, and more. We are eager to partner with you as you get your personal legal affairs in order. Call us today at (646) 791-2240 to get started!
Loganzo & Mantell PLLC
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