Elder estate planning ensures that senior citizens have long, healthy, and secure lives. Typically, it entails planning for future medical requirements, including long-term care. A plan to pay for future care while retaining part of your assets might be created with the assistance of elder law professionals.
Additionally, they can help you get approved for Medicaid or other benefits to cover the cost of long-term care. Further, elder estate planning can ensure that you shield yourself from exploitation or abuse as you age or lose the ability to care for yourself. Finally, elder estate planning provides support from an estate planning lawyer, if needed, with conservatorship and guardianship.
Estate planning and elder law serve two distinct but equally important purposes. First, they focus on what happens to your assets after you pass away, while elder law primarily protects your assets while you are still alive.
Estate planning is for everyone, regardless of age, but elder law focuses on senior citizens. Attorneys for estate planning assist you in deciding what will happen to your possessions after your death. Wills and trusts are tools used by estate planners to ensure that your desires are carried out after your passing.
Additionally, you can designate a guardian for your young children or make provisions for your pets in your estate plan. Estate planners can also assist you in reducing estate taxes and avoiding probate.
It is crucial to review your estate plan periodically because it may need to be modified as your circumstances change. For instance, changes in finances, births, deaths, weddings, divorces, and other life events may all necessitate updating your estate plan.
What does an elder estate planning do with an estate planning lawyer?
Elder law attorneys represent the elderly and those who care for them. The majority of elder law practitioners deal with a variety of critical legal issues affecting an older or disabled person, such as concerns with health care, long-term care planning, guardianship, retirement, Social Security, Medicare, and Medicaid.
Elder law attorneys focus on the needs of older persons, frequently distinct from and more specialized than younger adults, making them “specialists” in many ways. For example, they can manage significant financial and estate planning difficulties and address day-to-day concerns affecting senior care, like assisted living and life planning.
Elder law attorneys can also handle several challenging scenarios. Since they frequently better prepare to take the delicate emotional and physical demands of elderly or disabled persons.
How can a lawyer specializing in Elder estate planning help you with estate planning?
Any of the following situations can help by an elder law attorney:
- The significance of wills and estate preparation, including considerations for a child or adult with special needs, probate procedures, and other issues, should discuss.
- Make an adequate power of attorney.
- Assistance with long-term care options, patient rights, Medicare, and health care power of attorney will be available.
- Financial advice: housing opportunities and planning, income, estate, gift tax issues, financial planning (including durable financial power of attorney).
- Assistance with choosing and appointing a guardian ad litem.
- Locate long-term care facilities and control the expense of assisted living.
- Describe the rights of nursing home residents and assist in submitting claims.
- Create a durable power of attorney, a living will, or other advance directives, such as long-term planning paperwork.
In straightforward situations, you can make a living trust, power of attorney, or will using DIY forms.
What Type of Fees Does Elder Law Attorneys Charge?
Most elder law attorneys bill by the hour, depending on the work. Depending on the type of work, such as document review and signing, tax return filing, and will require preparation, elder law practitioners may, in some circumstances, charge a predetermined flat rate fee.
What Are the Best Questions to Pose to an Elder Law Attorney?
Employing a lawyer with experience in your area of concern is crucial because most elder law attorneys do not focus on all legal issues that impact elders. You should be confident that the elder law attorney you choose will represent you or a loved one in a compassionate and caring manner before making your choice.
Here are some inquiries you ought to make:
- How long have you been in the legal profession?
- How much time will you spend practicing elder law?
- Do you place more attention on a particular area of elder law than others?
- What details should I gather in advance of our initial meeting?
- How do you determine costs?
How to Find a Lawyer for Elder Law?
There are many ways to locate an experienced elder law lawyer. Online research or recommendations from friends and relatives could be a wonderful place to start.