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How Can an Elder Law Attorney Help Me?
Elder law attorneys can help with a wide variety of legal matters, including:
- Estate planning, drafting wills, and creating trusts
- Establishing a durable power of attorney
- Establishing financial and medical power of attorney
- Healthcare and long-term care planning
- Drafting advance directives
- Financial, housing, and gift planning
- Selecting and appointing legal guardians
- Researching long-term care or assisted-living facilities
- Explaining elder and nursing home resident rights
- Filing claims against nursing homes and assisted-living facilities in cases involving abuse or neglect
Care Plans for Elders
A care plan addresses a person’s medical, financial, and support needs and outlines how those needs will be met. As people get older and plan for retirement, they must decide how they will cover costs of living, healthcare, and other expenses going forward.
One of the most important considerations is the cost of long-term care. Many people don’t believe they will ever need it. But according to the American Association of Retired Persons (AARP), roughly 70 percent of Americans over the age of 65 require long-term care at some point. On average, people need this type of care for about three years at a cost of approximately $90,000 per year.
Guardianship and Conservatorship
When a loved one can no longer manage their affairs due to age or illness, guardianship or conservatorship may be necessary. We provide legal guidance for these arrangements, ensuring that they are set up in the best interest of the individual.
- Establishing Guardianship: Our Shelby elder care attorneys help you navigate the legal process of becoming a guardian, including court proceedings and required documentation.
- Conservatorship Management: We offer support in setting up and managing conservatorships to safeguard your loved one’s financial interests.
Asset Protection
Protecting assets from risks, including the high costs of healthcare and nursing homes, is crucial for older adults. We use legal strategies to help safeguard your assets, ensuring they are preserved for future generations or used according to your wishes.
- Trust Creation: Irrevocable trusts can protect assets from being counted toward Medicaid eligibility.
- Gifting Strategies: We advise on legal gifting strategies that allow you to transfer assets to loved ones without compromising Medicaid eligibility.
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Elder and Special Needs Law
When people have special needs, they may not be able to care for themselves or make important life decisions as they age. Long-term care planning for those with special needs is essential.
Loved ones can ensure relatives with special needs receive appropriate care and avoid potential complications by creating and preserving important documents, such as:
- Asset and trust documents that benefit the person with special needs
- The person’s medical records, birth certificate, and guardianship records
- Clearly worded letters of intent and healthcare directives
- Durable, medical, financial, and other powers of attorney documents
Elder Medicaid, Medicare, and Social Security Planning
Many seniors receive benefits from Medicare, Medicaid, and Social Security. However, each of these programs has different qualification criteria that you should understand when creating a long-term elder care plan.
Medicare is available to nearly all adults age 65 or older. Medicaid benefits are generally limited to those with lower income and fewer assets. Since Medicaid can provide substantial assistance with the costs of chronic conditions and long-term care, qualifying for benefits can be an important part of eldercare planning. An attorney can help you plan ahead to reduce your income and transfer assets to help you qualify for needed Medicaid compensation.
Similarly, the value of the benefits you could receive from Social Security can vary based on your work history, retirement age, and other factors. A lawyer can help you decide the best time to file so you can maximize your long-term benefits.
Long-Term Care Plans
One way older adults can plan for long-term care needs is by purchasing long-term care (LTC) insurance. This type of insurance can provide coverage for at-home care, nursing home care, and elder daycare. According to the American Association for Long-Term Care Insurance, nearly 2 million people currently receive care in nursing homes, and more than 7 million receive needed care at home.
LTC insurance can be expensive and isn’t the best option for everyone. However, there are unique advantages to this type of insurance, such as personalized coverage options and the ability to retain your assets.
Elder Daycare Plans
Adult daycare centers provide medical care and social activities in a structured setting for older adults who need assistance during the day. This can allow caregivers to keep their loved ones at home while they work or manage other daytime responsibilities.
Medicare coverage alone usually will not pay for adult day care programs. However, Medicaid and certain combinations of Medicare and Medicaid often do. Additionally, several veteran’s programs and state assistance programs can help pay for adult daycare.
What to Consider When Making a Long-Term Care Plan
Long-term care involves more than just medical concerns. When establishing a person’s long-term care plan, you should consider factors such as:
- How likely they are to require care
- How much the care will likely cost
- The state of their assets and resources
- Creating a long-term care fund
- Long-term care insurance options
- Medicare, Medicaid, and other government resources
Get Help from a Shelby Elder Care Attorney
Eldercare planning may seem daunting. But establishing a long-term care plan is the best way to reduce potential future costs and avoid placing unnecessary burdens on loved ones. The Shelby elder law attorneys of Teddy, Meekins & Talbert, P.L.L.C., can help.
If you are in the process of creating a long-term care plan for yourself or a loved one, contact us today to discuss the details of your situation in a free case review.
Call our Shelby elder law attorneys at (704) 396-5155 today to set up an appointment. You can also use our online contact form.
Elder law faq
1. What is elder law, and why is it important?
Elder law is a specialized area of law focused on issues affecting seniors, such as estate planning, long-term care, and Medicaid. It’s important because it helps older adults protect their assets, ensure their wishes are followed, and plan for the future.
2. When should I start Medicaid planning?
Ideally, Medicaid planning should begin several years before you anticipate needing long-term care. Early planning allows for more options to protect assets. However, even if care is needed immediately, we can still help with Medicaid planning.
3. How can I protect my assets from nursing home costs?
Through careful estate and Medicaid planning, our attorneys can help protect your assets. This may involve creating trusts, restructuring assets, or using other legal strategies to qualify for Medicaid while preserving your property.
4. What’s the difference between a will and a trust?
A will is a legal document that outlines how your assets should be distributed after your death. A trust is a more flexible tool that can be used to manage and protect assets both during your lifetime and after your passing. We can help determine which option is best for your situation.
5. Can I change my power of attorney if I change my mind about my agent?
Yes, you can change your power of attorney at any time, provided you are mentally competent to make that decision. We can assist with revoking a previous power of attorney and establishing a new one.
6. How do I know if I need guardianship for a loved one?
Guardianship may be necessary if a loved one is unable to manage their own affairs due to age, illness, or disability. Our attorneys can help assess the situation and advise on whether guardianship is appropriate.
7. What happens if I don’t have a healthcare directive?
Without a healthcare directive, medical decisions may be made by family members or appointed healthcare providers. A healthcare directive ensures that your medical preferences are followed if you’re unable to communicate them.