Elder law is more complicated than you might think
How an Elder Law Attorney Can Help Elders and Caregivers
courtesy of DailyCaring.com
Helping a Parent Downsize Before a Move to an Assisted Living Facility
Helping Elderly Parents Organize Must-Have Financial Paperwork
Talking to Aging Parents about Finances
What is an elder law attorney?
Elder law is a specialized legal area focused on older adults and their adult children. This type of attorney focuses on specific needs, including:
- Power of attorney and other important legal documents
- Long-term care planning and paying for care
- Medicare and Medicaid planning
- Veterans benefits
- Estate planning
- Disability planning
How an elder law attorney can help
1. Plan for the future and protect assets
Everyone's situation is different and the law is confusing and full of state-specific "fine print." An elder law attorney can help answer questions like:
- How can I qualify for Medicaid, so it will pay for nursing home care?
- How do I protect mom's house and assets, but still afford the care she needs?
- How do I make sure my wife will have money left after all my care expenses are paid?
- What to do if I need to become dad's guardian or conservator?
- After I pass away, will Medicaid try to get money from my estate for the medical bills they paid and cause problems for my spouse or kids?
These are complicated questions and the answers will be different for each person. Consult a reputable elder law attorney to find out how they can help protect your senior's legal and financial situation and help you figure out how to pay for the care they'll need.
The fees could be well worth it if they can save your family thousands of dollars (and avoid nasty legal headaches) down the road.
Do you have enough life insurance? Get your free term life insurance quote from PolicyGenius, a Dollar Stretcher trusted partner.
2. Make sure you have all the correct legal documents for your state
A local elder law attorney can also make sure that you've completed the important legal documents for your state.
Laws are different (and very specific!) for each state, so it's important that the documents are prepared correctly, especially for things like Power of Attorney, Living Will, and other critical planning documents.
Legal planning for your older adult can be overwhelming and confusing. Instead of struggling to figure it out yourself (and possibly missing an important detail), it's better to find an experienced elder law attorney that you can trust.
Are you caring for a parent or spouse? Get free, practical caregiving tips at DailyCaring.com to help you solve day to day challenges. Get advice on finding an elder law attorney you can trust or learn why having a will is so important. Sign up for free daily emails today to get the latest information!
Take the Next Step:
- Find an elder law attorney in your area
- Subscribe to After 50 Finances. You've learned how to work smarter, not harder. This weekly newsletter is dedicated to people just like you. Subscribers get a FREE copy of our After 50 Finances Pre-Retirement Checklist, a list of everything you need to do to be ready for retirement.
Share your thoughts about this article with the editor.