Why You Should Choose an Elder Law Attorney
You have decided to take the advice of your friends, family and financial planner and have your estate planning documents prepared. Who should you hire – a traditional estate planner, or, an elder law attorney?
While most elder law attorneys are estate planners, most estate planners are not elder law attorneys. Traditional estate planners focus on the transfer of your property at your death and minimization of estate taxes. While elder law attorneys also plan for transfer of property at your death as well as estate tax minimization, in addition, the attorneys formulate plans that also help protect your assets while you are alive, both from the expense of long term care as well as from financial exploitation in your later years. Also, elder law attorneys craft plans that protect you and your estate if you become incapacitated.
Legal Planning for Living with a Chronic Medical Condition
In 1900, most people died younger from communicable diseases and after relatively short illnesses. Today, we are more likely to die older from one or more chronic conditions and after an extended period of illness. The decisions involved with planning for disability associated with chronic conditions can be difficult to make. Recognizing that developing a plan is the goal and that plans can (and should) be revised over time may help you assume a proactive role when it comes to legal matters.
Avoiding Scams Concerning Living Trusts
Not everyone will benefit from a living trust and not everyone who offers them is reputable.