The Value of Consulting an Elder Law Attorney for Your Estate Planning Needs
Estate planning is a critical aspect to ensure your assets are properly protected, your wishes are met, and your wealth is preserved. While estate planning can benefit individuals of all ages, estate planning becomes especially vital as we age. In these circumstances, consulting an attorney that specializes in elder law can offer unique advantages that can significantly enhance your estate plan.
Elder law attorneys focus on serving the needs of older adults and their loved ones, such as long-term care planning, estate planning, and guardianship/conservatorship. Elder law attorneys ensure seniors receive the care they need in their desired setting, while fully maximizing their quality of life. Elder law works hand in hand with estate planning, ensuring that important needs, specific to seniors, are addressed, while focusing on leaving a lasting legacy and support for their loved ones. This specialized knowledge allows them to tailor estate plans to address your unique concerns according to your wishes.
Estate planning typically encompasses the creation of a Last Will and Testament, Living Trust, Power of Attorney, Health Care Surrogate, and a Living Will. By consulting with an elder law attorney, an additional layer of specialty is added to these documents by incorporating Medicaid and incapacity planning into the estate plan. Medicaid, an entitlement government benefits program, covers some of the cost of medical services (basic medical care, hospital inpatient and outpatient services, and home healthcare) for individuals who fall into certain asset/income restrictions. With the cost of long-term care averaging $10,000.00 or more a month, a long term stay at a nursing home without Medicaid coverage can completely wipe out one’s savings. To avoid this, it is important to consult an elder law attorney, who can use a variety of legal tools in your estate plan to protect your assets and wealth, while ensuring future Medicaid eligibility.
With their specialized expertise, the attorneys at SAMUELS WOOD PLLC can help you navigate the complexities of estate planning with confidence, ensuring your legacy is preserved and your wishes are honored. When it comes to protecting your future and maximizing your life, an elder law attorney is your trusted partner in this important journey. Call our firm at (561) 864-3371 or fill out the consultation request form on our website.