The legal professionals at our firm provide elder law and estate planning services. Many community members are familiar with the basics of estate planning. Tasks like designing wills, creating trusts, and putting inheritance plans into place are understood by most when thinking about “later in life” legal issues. However, elder law is a bit less clear. What does it actually mean?
While there are many definitions, a good one was put forward on a recent story on the issue published in Wealth Management. Essentially, the authors of the material suggested that elder law can be reconsidered as “quality of life planning” to maximize the value the last two to three decades of one’s life.
In general this focuses on long-term care. Securing the proper care is critical for seniors to thrive in their golden years. But even though seventy percent of Americans will need long-term care at some point in their lives, the process of obtaining it can be incredibly confusing, complex, and, in some cases, downright impossible. An elder law attorney is responsible for assisting at these times by either putting plans in place early on so that the long-term care is available in the future or working when “on the nursing home doorstep” to protect assets while ensuring the necessary care is available.