Assisting disabled or older clients with legal issues specific to their stages in life is what elder law lawyers do. They help in navigating complex healthcare issues, retirement, estate planning, long term care options and a lot more. While general practice lawyer might have knowledge of senior needs, a compassionate and experienced elder lawyer is the best option that you can have.
Below, I’ve listed few of the common services provided by elder law lawyer.
Number 1. Asset preservation and financial planning – no matter how much your assets or cash is, you don’t want to see even a cent of your money going to creditors, falsified nursing home bills or the government. Actually, many prefer to have choice in how their assets would be distributed after death. Experienced and qualified law firms can provide assistance to decide on what is the best possible strategies for asset preservation for your long term goals and economic situations. Avoiding probate expenses, protection from judgments, minimizing income, gift and estate taxes as well as planning for long-term care costs are some of the things that you need to discuss.
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Number 2. Trust and wills – both of these serve different purposes when it comes to your estate planning. While both can be useful to one, it is important to understand each drawbacks and benefits. The key points that you have to remember is that, Will only takes effect after the person’s passing while the trust is already effective upon its creation, a Will passes through probate or in other words, the court will overseeing the process but a trust doesn’t pass through a probate and thus, the terms of the trust stays private.
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Elder law attorneys help in determining whether one or both of the said documents are fit for your situation.
Number 3. Long term care and healthcare – no one likes to think of the likelihoods of them being disabled or sick as they start aging but, it is smart to plan in advance. You’ll want to have a plan in place in which detailing your desires for medical care if you’re not able to make medical decisions of your own. While the laws are varying from one state to another, there are basic health related instruments that you must discuss with your lawyer and some of these are healthcare proxy and power of attorney, advance directives and living wills.
It can guarantee that all your assets, finances and other important documents will be handled professionally by hiring an elder law attorney. With this, you can be sure that you are getting always the best decisions on what move should be done next.