When should your parents seek the advice of an elder law attorney? Should they do it by a certain age? Is it better to wait until they’re diagnosed with a chronic health condition? Should they seek legal advice before their health changes? Here’s a quick guide to understanding the best time to discuss estate planning.
Your Mom Wants to Age at Home
Your mom wants to spend the rest of her life in her current home. To make sure her goals are achievable, talk to an expert in elder law to find ways to afford any long-term care she’ll need.
She may need to have a will, powers of attorney, and advance directives drafted to ensure they meet state laws. She doesn’t want to fill out an online power of attorney to learn that it’s not valid at the worst possible moment. Her attorney can make sure everything is drafted and signed correctly.
Her attorney can also help her with a Medicaid application if she runs out of money. These applications have specific rules to follow when it comes to the past five year’s finances. It’s also essential for your mom to understand how much money is allowed to be in her bank at the beginning of the month to avoid problems.
A Chronic Health Issue Is Diagnosed
Your dad has forgotten things recently. His doctor tells him he’s in the early stages of Alzheimer’s disease. He needs to see an attorney now to get legal protections in place. He’s going to lose his cognitive skills. At some point, someone has to make medical and financial decisions for him.
Suppose you’re your dad’s agent and pay for him to enter a memory care community. Your brother finds out and is furious over the cost. He feels it would be better to bring in caregivers a couple of hours a day and let your dad be at home alone the rest of the time.
If you’re your dad’s power of attorney for financial and medical matters, it helps prevent family disagreements. It ensures that your dad receives quality care without arguments getting in the way.
It’s never too early to talk to an elder law attorney about estate planning. Maybe you’ve just had a child and want to protect your family members in case of an accident or illness. Or, you might be helping your parents make plans for aging at home. Either way, an expert in estate planning guides you through the process. Call to learn more.
If you or a loved need assistance with Elder Law in Mountain Brook, AL contact Nolan Elder Law & Estate Planning today. (205) 390-0101