The Importance of Finding the Right Elder Law Lawyer
When a certain person is getting on in years and he has decided that he is in need of a reliable elder law lawyer to assist him with his present as well as post-life finances, trust, wills, and many more, it is very crucial to find a trustworthy and experienced professional.
You are probably a grandparent or a child of an elderly parent. You must keep in mind that poor financial decisions can devastate the necessary medical or even the end-life expenses that might have been allocated for several years prior. It is not necessary to see a senior’s savings, as well as assets, deplete over time. This is where a lawyer who specializes in the elder law becomes more significant. This professional can assist the seniors along with their families in managing and protecting their assets and homes during their golden years.
Areas of Focus of an Elder Law
Elder law is the field of legal practice that primarily encompasses the issues that affect both seniors and aging adults. It has become a very fast-growing specialty mainly because the baby boomers have reached the retirement age and the medical advances keep many people live much longer than ever. Here are the major areas of this kind of specialty.
- Medicaid, long-term care issues, and disability
- Estate planning and administration
- Guardianship, fiduciary and conservatorship administration
Elder law is a wide-ranging field. The legal issues that fall under the umbrella of the categories include protection against the elder abuse, wills, trust, end of life planning, fraud, and all the levels of disability. The elder law lawyer may practice in all the areas or even specialize in just one or two. A certain elder law firm is more likely to have a staff of skillful attorneys who have the ability to cover all the areas among them.
Elder Law Lawyer can help plan for the long-term care
Long-Term care is very expensive and there are families that do not have the means to pay for it by themselves. Talking with an attorney to formulate a plan right before it is needed is a great idea for a family. An elder law lawyer knows how to legally transfer the assets in order to help someone to qualify for the Medicaid. Aside from that, this professional also knows how to preserve the assets to protect the spouses and at the same time provide them with enough amount of money to live on. Long-term care facility can cost from $100 to $500 each day, which mainly works out to be about $40,000 to $150,000 per year. Even those families who have the means can have problems in affording this kind of ongoing medical treatment and this is where an elder law lawyer can really help.
Elder law lawyers are specially trained in order to assist their older clients and their own families. However, they are not limited to helping seniors. If you are among those who are interested in drawing up a will, outlining what should happen if you are unable to make any medical decision for yourself, or determining guardianship for a child, contact an estate planning lawyer.