Elder Law Planning

Elder law planning encompasses a wide range of legal and financial matters that are unique to seniors. As people age, there are a different set of issues that need to be dealt with. While elder law planning does contain an estate planning component, there are different goals and objectives for the elderly such as planning for long-term care, health issues that may affect their ability to manage their affairs, powers of attorney, and other matters.

It is essential to begin looking into elder law planning sooner rather than later. Waiting until a crisis strikes to make financial, healthcare, or personal preparations can mean that there will be fewer options and remedies available. It is important to look ahead and consider what preparatory measures need to be taken for certain issues. For example, if a senior wishes to receive long-term care through Medicaid, they should consult with an elder law attorney to plan for “spending down” and asset protection at least five years before applying to the program.

Listen to the on-demand recording and learn about:

• Power of Attorney: an important, powerful, and necessary planning tool
• Spousal Refusal: why one should not run out of money caring for an ill spouse
• Homecare Medical: eligibility rules, how to keep your loved one at home
• Income or Pension Trust: how to protect your assets as well as your income
• Veterans Benefits: eligibility requirements
• Trusts: how to protect your most valuable asset—your home
• Current Estate Tax Rules: how to develop an estate plan that will avoid probate

Whether you are planning for yourself or a family member, or simply preparing for the unexpected, Elder Law Planning and Estate Planning are critical steps for the securing your future or that of a loved one. Proper and timely planning can help avoid financial ruin. Seek counsel as early as possible