Elder Law
Elder Law can be defined as preparing aging adults for their futures. It generally applies to planning and preparation for those over the age of 65. Advancing age brings health care problems and other legal challenges that need addressing. This broad area of law can encompass numerous issues that affect the elderly population including but not limited to: estate planning, pensions and/or retirement plans, Medicaid, Social Security, and guardianship.
Maintaining Independence
Most individuals are concerned with two fundamental threats to their independence:
- Becoming incapacitated, and losing control to the court system over their personal, health care, and financial decisions
- Running out of money due to the catastrophic costs of long-term care.
Fortunately, these threats may be minimized, or even avoided, through properly coordinated legal and financial planning.
While you may not need more advanced care in the future, the majority of older individuals in America do. Unfortunately, many care facilities have predatory costs which can harshly affect your assets. Your elder law attorney can help you establish trusts and protected accounts to ensure care is paid for without compromising your estate.
Elder Guardianship
As your physical or cognitive capabilities begin to degrade, guardianship can help you maintain more control of your independence. If you become certifiably unable to care for yourself in an official capacity, the court may assign someone as a guardian. Generally, this is a family member. By working with your elder lawyer ahead of time, you can be more in control of who your guardian is. This may be a different family member, a partner, a trusted friend, etc. Appointing your choice of guardian can help limit cases of elder abuse.
Medicaid and Social Security Planning
Approval for Social Security and Medicaid can take time and a lot of paperwork. If you need to apply for coverage adjustments, most people will not get approved without an attorney’s assistance. Some elderly individuals do not qualify for Medicaid because their retirement fund is just above the threshold. In these cases, your elder attorney can help you establish trusts and other accounts to store these savings away. This will allow you to move within the threshold for Medicaid without risking financial ruin.
Planning For Your Estate
The experts at Danna & Associates are also experienced in estate planning. Our team can help you develop a Will and other necessary plans for your estate should you pass or become incapacitated. Our team can help you and your family move through as much of your estate as possible while navigating the tricky system of estate taxes and probate.
Tackling Elder Law Early
You do not need to be 65 or older to start planning for elder care or your possible future needs. Having a solid elder law plan in place allows you to be prepared for what may come. An experienced elder law attorney can help you plan for any eventuality. Early planning can mean that you start building care funds for the future through strategic plans and trusts.
The knowledgeable attorneys at Danna & Associates Elder Law Firm Staten Island NY, won’t make a ‘one size fits all’ recommendation. Instead, we work with you to learn your specific circumstances and create the best plan for you. Our goal is to set you up for the best possible future while planning for any potential changes in your life. Contact us to get started.