You went to an attorney and had a revocable living trust created. That’s great! Estate…
Many aging Americans depend on family members or friends to help manage their health, finances, and other affairs during retirement and beyond. They often believe their family members will be able to take care of any issues that arise. While consulting with loved ones about plans and wishes can be beneficial, relying solely on them can cause problems in the long run for both seniors and their families. Relying on them without providing clear guidance is certain to prove problematic for all involved.
So, what can you do? Putting proper planning into place can alleviate many of the issues facing families when you are no longer able to manage your own affairs. That is where the advice of an elder law attorney can help. The issues around health care, finances, wills, and general estate planning are often complex. Working with a legal professional can help seniors navigate these details. Ensuring your specific decisions and plans are relayed to your family is part of this process.
Through legal arrangements you can appoint who will be responsible for your health and financial welfare. You can go further and specifically decide for retirement benefits and other assets. This can help avoid family disputes and ensure that assets are preserved as intended. Although we’d like to assume family members always have our best interests at heart, legally binding arrangements also protect against abuse and financial exploitation.
But it isn’t just you that can benefit from working with a legal professional. Elder law attorneys also assist heirs and beneficiaries by ensuring that assets don’t fall into wrongful hands due to debts, divorces, or other extenuating circumstances. We can also help beneficiaries avoid the potentially long and complicated probate process.
Elder Law Attorney Expertise
Elder law attorneys have the expertise to help you and your loved ones navigate all the legal issues impacting the elderly. Helping clients better understand all the legal aspects of planning; drafting wills or trusts and powers of attorney, is critical.
Below is a list of some of the services elder law attorneys provide:
- Medicaid Eligibility, Applications, and Planning
- Financial pre-planning for long-term care
- Drafting Wills
- Drafting Revocable Trusts
- Drafting Irrevocable Trusts
- Drafting Medical Power of Attorney
- Drafting Financial Power of Attorney
- Managing Estates and Trusts
- Probate services
- Asset protection
Seniors tend to procrastinate planning due to the unpleasant associations of illness and death. As Elder law attorneys, we can alleviate that discomfort by facilitating family conversations and shifting the focus to the positive benefits of planning and preparedness.
Cost can also deter seniors from seeking legal advice and services, however, failing to plan can ultimately end up being far more expensive.
No matter the issue at hand, seniors and their loved ones will benefit from working with a legal professional. If you’d like to learn more about how elder law services can help you or an aging loved one, contact our firm today.