When Should I Hire an Elder Law Attorney?
Choosing the right senior care option can be complex. With over 30 years of experience, our CarePatrol team helps families navigate senior care solutions. We understand your loved one’s specific needs to recommend solutions, resources, and information to help you make informed decisions. Building a care team, including an elder law attorney, can help support you and your aging loved one. Working with an elder law attorney can be beneficial when dealing with legal matters concerning older adults. The closer you are to retirement, the more benefits there are to seek assistance from an elder law attorney. CarePatrol proudly works with local elder law attorneys to help support you and your loved ones as you navigate senior care solutions.
- Estate Planning
Preparation of wills, trusts, powers of attorney, and other estate planning documents is important. Your overall estate plan should provide contingencies if you cannot manage your finances alone.
A complete estate plan helps your family members understand your wishes for your end-of-life care and addresses how someone should distribute your assets upon your death. As your life circumstances change, your estate plan may require updating.
- Durable Powers of Attorney and Health Care Directives
A durable power of attorney remains effective if you become incapacitated and is specifically designed for long-term decision-making when you cannot act on your behalf. While a general power of attorney is also a valuable estate planning tool, having a durable power of attorney is important.
Life is full of uncertainties. Should you be involved in an accident and unable to communicate your wishes, plans can be communicated by the person who is appointed your attorney, through a durable power of attorney.
If you have only a general power of attorney and no health care proxy in place, your family members may have to go to court to get authorization to handle your health care needs and finances.
Depending on your state, you may also need advance health care directives. This document can give your loved ones the authority to make healthcare decisions on your behalf if you cannot speak for yourself.
- Advance Medicaid Planning
Medicaid can help offset the costs of skilled nursing home care later in life or for disabled family members. However, this program is based on financial need. Each state has different requirements and asset caps. While the program is a joint program offered by the federal and state governments, the Medicaid application process can be confusing.
Planning for the possible need for Medicaid in the future can help preserve your assets for your family. An experienced elder law attorney can help you make the decisions you need to make to help ensure your eligibility for this valuable program should you need it later.
Medicaid planning strategies, such as asset protection trusts, income strategies, and spend-down plans, can help qualify for Medicaid benefits while preserving assets for aging loved ones.
- Long-Term Care Planning
Working with an elder law attorney specializing in long-term care and financial planning ensures that your plans are legally sound, comprehensive, and tailored to your unique needs and circumstances.
Your own certified elder law attorney can assess your current and potential future care needs, considering factors such as health status, mobility, daily living activities, and family support. In addition, they can provide insight on paying for long-term care, including Medicaid and long-term care insurance.
Elder law attorneys can provide valuable guidance, advocacy, and support throughout planning to help you achieve peace of mind and financial security for long-term care.
- Protection from Financial Exploitation
Protecting assets from financial exploitation is crucial, especially for older adults who may be more vulnerable to scams, fraud, and undue influence. There are several ways an elder law attorney can help avoid financial exploitation, including:
- Power of Attorney (POA)
- Trusts
- Asset Titling
- Guardianship/Conservatorship
- Financial Monitoring
- Estate Planning
Working with an elder law attorney, individuals can take proactive steps to protect their assets from financial exploitation and ensure their financial well-being and security as they age. Older adults often have more complex legal issues than their younger counterparts. Fortunately, elder law legal professionals are here to help.
- Guardianship and Conservatorship
Guardianship or conservatorship can be beneficial methods of protecting an incapacitated person. These steps may be necessary when no other means are available to assist a person when they need to make informed decisions.
A guardian or conservator can be appointed for any person who needs assistance making decisions. Both guardians and conservators can only be appointed if a court hears evidence that the person lacks mental capacity in some or all areas of their life and needs help.
Elder law attorneys are trained to help aging adults and families deal with situations where these actions may be required.
- Trusts Versus Wills
Depending on circumstances, you may wish to have a will on file. Wills are specifically designed to spell out your wishes for the disbursement of your assets after your death. However, in some cases, you may prefer a trust.
A trust is another legal document designed to distribute your assets after death. However, there are some significant differences between these two estate planning legal documents, including:
- Probate — in nearly all cases, a will has to go through probate court. This means your assets and disbursement of assets will all be public. Trusts offer privacy and do not have to go through probate. This means your estate can settle faster.
- Asset Protection — you may put assets into your trust during your lifetime. Your trust may also serve as the beneficiary of your retirement accounts and life insurance policies.
There are many factors to consider when deciding if a will or a trust is a better option for your estate. A qualified elder law attorney can help you make the right decision based on your unique circumstances.
- End-Of-Life Planning
End-of-life planning involves making decisions about your healthcare, financial matters, and personal wishes for when you can no longer make those decisions yourself. Having a plan to ensure your wishes are honored and reduce stress for your loved ones during a difficult time is important.
Your end-of-life planning is unique to you. There is no one-size-fits-all. You can use health care directives, wills or trusts, and durable powers of attorney to ensure your wishes for medical care, distribution of your assets after death, and your wishes for burial.
- Disability and Social Security Benefits
Family members unable to care for themselves because of a disability may qualify for social security benefits. However, the application process can be confusing and requires significant documentation. The best option for most people is to work with a qualified elder law attorney with experience dealing with these matters.
Qualifying for Social Security disability payments can be complicated, and any mistakes in the original application can result in being rejected for benefits. Working with a qualified elder law attorney may result in a better outcome since these professionals have a working understanding of the process and required documents.
- Veterans Benefits
The Department of Veterans Affairs (VA) provides pension benefits to eligible wartime veterans and their surviving spouses who have limited income and assets. This benefit can help cover the costs of long-term care.
Additionally, there is an aid and attendance benefit, which is an additional pension benefit available to veterans and their spouses who require assistance with daily living activities or are housebound due to a disability.
Navigating veterans benefits and elder law can be complex, so consulting with professionals who understand these areas can be invaluable for veterans and their families.
The benefits of working with an elder care lawyer
Some of the benefits of working with an elder care lawyer include specialized expertise, personalized planning, legal navigation, asset protection, advocacy, peace of mind, family harmony, benefit maximization, prevention of financial exploitation, and comprehensive end-of-life planning.
Each of us has concerns about retirement, end-of-life, advanced health care directives, and our estate planning documents. Having an elder care lawyer who can help you navigate these challenging topics can be beneficial to you and your family.
Whether it is time for you to consider estate planning, dealing with long-term care planning, or helping understand Medicaid eligibility, an estate planning lawyer can help. In addition to tax planning, you can get help managing investments, retirement planning, or protecting assets from potential risks.
Navigating retirement benefits, pension plans, and related legal matters can also be managed by an elder law planning attorney. Health care proxies, living wills, and end-of-life planning are also services offered by elder care attorneys.
The Significance of Early Planning
Early planning provides peace of mind, reduces the burden on your loved ones during difficult times, and allows you to leave a meaningful legacy according to your wishes.
Early estate planning is not just about distributing assets; it also involves making decisions about healthcare and financial matters in case you become incapacitated. Creating documents such as a durable power of attorney, a healthcare directive, and a will or trust early on allows you to appoint trusted individuals to make decisions on your behalf if you’re unable to do so.
Early estate planning allows you to take advantage of various legal strategies to reduce estate taxes and maximize the inheritance your loved ones receive. It can also help protect minor children or family members with special needs.
Regardless of your age, an elder law attorney can be an invaluable advisor and help you navigate the complexities of estate planning.
When Should I Hire an Elder Law Attorney?
Hiring an experienced elder law attorney is crucial for ensuring your loved ones receive the best possible legal protection and assistance as they age. Before hiring an attorney, educate yourself about elder law and the specific issues you or your loved one may be facing. This could include topics such as estate planning, long-term care planning, Medicaid, Medicare, guardianship, and elder abuse.
Understand the attorney’s fee structure upfront. Some attorneys may charge hourly rates, while others may offer flat fees or contingency fees for certain services. Make sure you are comfortable with the fees and billing practices.
The right elder law attorney can help you make very important decisions that will impact you during your golden years and help your family deal with your end-of-life care and final wishes. The sooner you hire a qualified elder law attorney, the better your overall estate plan will be.
Your local CarePatrol Senior Care Advisor partners with various local professionals and works closely with elder law attorneys. We can help provide the resources and information you need as you navigate senior care options for you or your loved one. Reach out today to learn how we can support you, as our services are available at no cost to you or your family.