Colorado Estate Planning And Estate Settlement Legal Blog

Options for long term care in Colorado may seem plentiful, but choosing the right residence to fulfill a loved one's needs can nevertheless be frustrating. Determining whether a family member needs long term care in the first place can also prove to be a challenge. While the choice in facility depends on individual situations and health needs, qualifying for Medicaid has a specific set of qualifications in the state of Colorado.

Colorado Access, a nonprofit health plan that provides access to behavioral and physical health services for Colorado residents, provides information regarding long term care and support. The CA's website offers a list of personal health circumstances individuals may assess when deciding whether they need elder care or another type of service. The network of organizations called Long Term Services and Supports offers care for for those with a chronic illness or are limited and cannot care for themselves for long periods of time. Services may be medical or non-medical, and can come to an individual's home, in the community, in an assisted living facility or in a nursing home facility. 

A common misconception in Colorado and across the nation is that young people do not need to worry about planning what happens to their estate until they are older. In fact, this could not be further from the truth.

A recent report from USA Today states that 58 percent of adults in America have no will or trust in place, and among parents with minor children, the number was a staggering 64 percent without a formal estate plan in place. Among older Americans, age 53 and higher, many more have made arrangements for their financial futures. Sixty percent of those between the ages of 53 and 71 have completed a will or trust and 81 percent of Americans over the age of 71 have arrangements in place. Those who have young children especially need a will in place to ensure that in the worst case scenario a guardian has been appointed who is able to properly care for them.

Researchers are closing in on the secret to a long and happy life. It may not be the fountain of youth, but a 16-year study has identified specific behaviors that lead to prolonged independence.

It is well known that physical activity and family relationships may allow you to live a long time. However, many people are far more concerned about maintaining their independence than they are about living forever.

Have you been patting yourself on the back because you have an estate plan? It feels good knowing that you have done all you can to prepare for what is to come.

As a part of your comprehensive estate plan, your attorney probably explained the importance of completing your beneficiary designations on life insurance policies, bank accounts, pension plans and the like. Whether you set up your estate plan a decade, three years or six months ago, let this serve as a reminder to verify that you designated primary and secondary beneficiaries and that you should recheck your designations on a periodic basis.