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Preparation is key to entering your golden years with confidence and peace of mind. You wouldn’t leave your most important affairs in the hands of just anyone. A qualified elder law attorney can help you establish a plan that will protect you no matter what life has in store. Whether it’s arranging your finances or preparing for the possibility of becoming mentally or physically incapable, having someone who understands this important aspect of law can help you navigate what is often a complicated and complex process.
Hiring an elder law attorney goes beyond just preparing for the end of your life. The nuances of elder law allow you to prepare your finances and other assets in a way that is still beneficial to you and your family while you are still alive. Even in the worst-case scenario, if you are unable to make sound decisions about your personal finances and assets, elder law will keep your interests protected.
In a related field, estate law focuses on the assets you leave behind when you pass and how you can minimize things such as estate tax liabilities.
As you get older, managing your assets, finances, and the unique circumstances in your life can be complicated. Picking the right people to have control over these important facets of your life can be difficult as well. Having an elder law attorney can help you navigate these complex situations so that you can create a plan that suits you. An elder law attorney can help you with a variety of situations, including the following:
If these situations apply to you, an experienced elder law attorney will help you maintain full control over your finances and assets all while allowing you to decide who can control what if you are no longer able to. Not proceeding appropriately could leave the future of your finances to someone who is overworked, uninterested, or incapable, or even to the state.
In the event that you require long-term care, Medicaid can be a helpful resource. However, there are strict guidelines for Medicaid eligibility. Eligibility for Medicaid benefits is dependent on your income level and the assets you own.
The rules governing Medicaid can be complex as well. Unless you are working with an attorney who specializes in elder law, it can be a complicated and confusing process to obtain the benefits without giving away all of your assets. Hiring an elder law attorney who understands these rules as they operate in your state can give you peace of mind that you are moving forward in a way that’s most beneficial to you and your family.
Every state has its own laws and guidelines about what an individual can include in their will, trust, or financial power of attorney. If you own property in another state but reside in Florida or reside elsewhere but own assets here, you’ll need an experienced attorney knowledgeable in these common but complex legal situations.
The rules governing Medicaid also differ from state to state. This federally authorized program is run at the state level, and the guidelines can vary. An experienced Florida elder law attorney will help you understand these rules so that you can avoid costly mistakes.
Elder law is a very specialized field. It’s important to have an attorney by your side who understands this field in all its complexity. The National Academy of Elder Law Attorneys is a nonprofit organization that consists of lawyers who have that expertise. Our lawyers are also some of the most qualified when it comes to elder law, including having Florida Bar Board Certification in Elder Law. Reach out to Shalloway & Shalloway for questions or concerns about your financial affairs and assets as you begin to plan your future. Call 561-686-6200 to schedule a consultation today.