Why Choose an Elder Law Attorney for your Estate Planning?
Elderly Mother and Daughter Embracing and Smiling
You may wonder, “What is the field of elder law and why might I want to choose an elder law attorney?”
Elder law attorneys specialize in the complex legal, financial and medical issues that older adults and people with disabilities will encounter. Their holistic perspective offers understanding and guidance that a standard estate planning attorney will probably not provide. Choosing an attorney who practices elder law brings into focus end-of-life transitions, bringing tremendous value to the estate planning process.
What is the Difference?
Elder Law supplements estate planning by considering how you should handle your finances and estate while you are still living. Many of us will reach a point when we need assistance and might even be incapacitated, unable to make healthcare or financial decisions. Without a firm plan to direct our care and desires, those closest to us will struggle with the lack of legal authority or clear directions to follow. Estate Planning generally emphasizes how your assets will be distributed at your death, with efforts to minimize the court-guided probate expenses and potential estate tax liabilities for your loved ones.
Elder Law attorneys consider additional scenarios that have important options. They can help you understand the financial steps needed to qualify for Medicaid if you (or someone close to you) need long-term care. Benefits are income and asset-based and might require preparatory “pay-downs” and awareness of the five-year “look back” regulations that can wreak havoc without prior understanding.
What are some Common Situations?
Another advantage of an Elder Law attorney is their skill in considering the complex terrain of family relationships and finances. A wide range of variables make a direct impact on how you will want to handle your planning:
Adult children with complicated problems or addictions
Family legacy properties
An incapacitated spouse in need of care
A disabled family member, or you are disabled
You are in a second marriage
Countless situations make having a trusted and competent attorney a major asset. They will be able to help you consider your best options for self-care, how to avoid setting up complicated plans that will burden others, and secure your assets in a way that will best serve you and those you love.
What We Offer
Our team at Hillsborough Wills & Trusts enjoys working with older adults and ensures that all clients are heard and valued. We offer a friendly and home-like atmosphere where we take our time and establish relationships. If questions arise, we make ourselves available for support and guidance. We ensure that you understand the range of important legal directives and tools that will protect you or your loved ones if and when additional help is needed.