What Can an Elder Law Attorney Do For Me?

Most of us are familiar with estate planning. Perhaps on your own or with the recommendation of your financial advisor or CPA, you’ve met with an attorney to create a plan to ensure that your hard-earned assets are distributed according to your wishes after you die.

The typical estate plan includes a will, a durable power of attorney, and a health care directive. A revocable trust is often used in tandem with a will — also known as a pour-over will — to facilitate the transfer of control upon the incapacity or death of the original trustee (you) to a successor trustee whom you choose.

A well-crafted trust can also keep your estate assets out of the often unbearable court-administered probate process, which in many states drags on for months and is costly.

So why would you need an elder law attorney?

While estate planning focuses on what happens to your assets after you die, elder law planning focuses on how to structure and legally protect your assets to take care of you while you’re alive.

The focus of your will and trust is your beneficiaries. The focus of elder care planning is YOU.

In 2020 insurance titan Genworth, which has tracked assisted living and nursing home care costs nationally for seventeen years, estimated that the median monthly cost of an assisted living facility in the United States was $4300; that estimate almost doubled to $7,756 for a semi-private room in a skilled nursing facility.

In addition to enhanced estate planning services, elder law attorneys provide long-term care asset protection planning, help you apply for Medicaid and VA benefits, and create Special Needs Trusts for family members with disabilities.

Elder care planning can be done at any age. The purpose of estate planning is to provide a financial legacy for your loved ones. But without elder care planning, you may end up without a legacy to leave.

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