How Can an Elder Law Attorney Help Me?

An elder law attorney can help you plan for many of the financial and legal concerns that accompany aging. An elder law lawyer can offer advice and assist you with issues such as estate planning, asset protection, long-term care planning, and Medicare eligibility.

If you are nearing retirement, it is a good time to begin establishing documents such as your will and medical and financial powers of attorney, even though you may not need them for many years. An elder law attorney can draft these legal documents and help you plan for the future.

It is wise to choose a knowledgeable attorney for your elder law needs. Our team has over 120 years of combined experience.

Call or text (800) 562-9830 or complete a Free Case Evaluation form

Long-Term Care Planning

Your future healthcare needs could include in-home care, assisted living, personal care, or nursing home placement. An elder law attorney can help you and your family plan for these possible needs and avoid potential crises.

Without proper planning, long-term care costs can deplete your savings and compromise your assets, such as a family home. An elder law attorney can help you understand options like long-term care insurance, veterans’ benefits, and government programs.

By planning ahead and working with an elder law attorney, you and your family will be better prepared emotionally, legally, and financially for the healthcare challenges that sometimes accompany aging.

For a free legal consultation, call (800) 562-9830

Power of Attorney Documents

Power of Attorney (POA) documents legally grant another person, appointed by you, the authority to make decisions on your behalf in the event you become incapacitated. There are typically two types of power of attorney relevant to elder law:

Durable Financial Power of Attorney: This gives your appointed agent the authority to manage your financial matters, such as paying your bills, handling your investments, and filing your taxes.
Healthcare Power of Attorney: This authorizes someone to make medical decisions on your behalf when you are unable to do so.

An elder law attorney can draft your POA documents and ensure they clearly express your wishes. Power of attorney documents can minimize family conflict when it is time to make important decisions.

Medicaid and Medicare Planning

Medicare and Medicaid are two of the most important government programs for people as they age, but they serve different purposes and have different eligibility rules. An elder law attorney can help you understand the difference and potential roles they may play.

Medicare

Medicare is a federal health insurance program for people aged 65 and older, but also includes some younger individuals with disabilities or certain medical conditions.

If you are over 65 and have paid Medicare taxes for at least 10 years, you are generally eligible for Medicare Part A without a premium.

Medicaid

Medicaid is a federal and state program that provides health coverage for low–income individuals. It can cover long-term care services, such as nursing home stays, but eligibility depends on income and asset limits.

Medicaid planning is one of the most complicated areas of elder law. Strict eligibility rules determine how much income and what types of assets you can have.

An elder law attorney can assist you in restructuring your finances so you can qualify for Medicaid.

Asset Protection

Asset protection is among the top priorities in elder law, especially for people who are facing the possibility of expensive long-term care. Without planning, you may lose your home and life savings to qualify for Medicaid.

An elder law attorney can use legal strategies to protect family wealth while complying with federal and state laws. Some common asset protection tools your attorney may suggest include:

Irrevocable Medicaid Asset Protection Trusts: These are trusts that allow you to transfer assets out of your estate so they will not be counted for Medicaid eligibility, as long as the transfer is made at least five years before applying.
Life Estates: A life estate is a legal arrangement that allows you to remain in your home while transferring ownership to another person, such as a family member. This can protect your home from Medicaid recovery, as long as it’s done at least five years before you need to apply.
Spousal Protections: Your elder law attorney can help you understand which income and asset allowances are exempt from Medicaid when your healthy spouse remains living in the home.

Estate Planning

Estate planning is about specifying what happens to your assets after you die and ensuring your wishes are honored. Your elder law attorney can help you draft an estate plan that aligns with your values, family needs, and financial goals.

Important estate planning documents include:

Wills: Your will outlines how your assets will be distributed after death and names guardians for any dependents under your care.
Trusts: A trust can provide control over how and when your beneficiaries receive assets, as well as help them avoid estate taxes and probate.
Advance Directives: Sometimes called a Living Will or incorporated into your Medical Power of Attorney, your advance directives state your preferences for end-of-life care and life-sustaining treatments.
Beneficiary Designations: Your attorney can review assets such as retirement accounts, investments, and life insurance policies to ensure designations are up to date with your current wishes.

Get Help From an Elder Law Attorney

An elder law attorney can help you plan for complicated legal and financial issues as you get older. This can include what happens when you need skilled nursing care, how you can protect your assets as you age, and who is named in your will.

Our team at Marc Whitehead & Associates can assist you with concerns such as Medicaid planning, wills and trusts, and estate planning.