Why would your parents want to hire the services of an expert in elder law? There are several reasons, but here are six of the leading ones.
They’ve Never Established Powers of Attorney
Your parents have never sat down with a lawyer to draft powers of attorney designations for financial and medical matters. They should. If something happens and they can’t speak up, they need an agent to ensure their wishes are met.
A power of attorney could make medical decisions like putting your parent on a ventilator following a stroke. The agent might have to step in and pay bills until your mom or dad is well enough to handle financial matters again.
A Spouse Passed Away
If your mom is now a widow, she may need to have her will updated to remove references of her spouse. She may need to update powers of attorney to designate a new person as her agent. An attorney can also help her figure out what she needs to do about Social Security changes and retirement funds like a spouse’s pension.
Long-Term Care Goals Are Proving Challenging
Your parents are having a hard time with long-term care planning. They know at some point long-term care will be necessary, but finding the money to cover the expense is worrying them. An attorney can help them understand their options.
They Have a Large Estate
When your parents have a large estate to divide between heirs, talking to an elder law attorney is essential. They need to make sure they’re doing everything possible to limit estate taxes and ensure there can be no disagreements on their intentions.
Applying for Medicaid Leads to More Questions Than Answers
Your mom has Alzheimer’s, and your dad admits her care drains their assets faster than imagined. They’ll be out of money in a year, and that concerns him. He’s looking at Medicaid applications, but the entire process confuses him.
With the help of an elder law attorney, he’ll have an expert to help him understand the rules and help him with the application process. His attorney can help him understand the five-year look-back period, understand when to apply, and understand what Medicaid will pay for when it comes to Alzheimer’s care.
There Are Suspicions of Elder Abuse
When it comes to elder abuse, it often goes unreported. Why? Sixty percent of the time, it’s a family member behind the abuse. Ten percent of older Americans are estimated to have been the victim of elder abuse, but only four percent of these cases are reported.
If you suspect your parents are being abused or neglected, you need to encourage them to report it. An elder law attorney can help them get help and get out of the abusive situation.
If you or a loved need assistance with Elder Law in Trussville , AL contact Nolan Elder Law & Estate Planning today. (205) 390-0101