Bill Nolan was recently featured on Care Across America. Youtube.com/@careacrossamerica
Listen or watch as he explains the importance of planning!
Video: https://youtu.be/GYTm4dHxVGs?si=LqIPlxYpG81NjJTu
What’s the difference between elder law and estate planning? According to attorney Bill Nolan, it’s about timing and focus. While estate planning looks toward what happens after death, elder law concentrates on protecting assets and ensuring proper care while you’re still alive but potentially unable to manage your own affairs.This eye-opening conversation reveals why having a simple power of attorney could save your family thousands of dollars and countless headaches. As Nolan explains, even married couples need these documents – especially when it comes to accessing individual retirement accounts during a health crisis. Without proper planning, a spouse might be unable to use funds to pay for necessary care, despite decades of marriage and joint financial planning.We explore the concept of “red flag moments” – those life changes that should trigger a conversation with an elder law attorney but often don’t. From selling a family home to experiencing a health scare, these pivotal moments represent opportunities to protect assets that might otherwise be vulnerable to Medicaid spend-down requirements. The discussion also covers special needs planning, how to navigate blended families with multiple sets of adult children, and why dying without a will costs heirs approximately ten times more than creating proper documentation.Perhaps most surprising is learning how affordable preventive legal planning can be compared to the alternatives. A power of attorney costs about one-tenth what a conservatorship would, while proper asset protection strategies can preserve a lifetime of savings that might otherwise go to nursing home costs. With free consultations and fixed-fee services, there’s little reason to postpone this critical planning.
Don’t wait until you’re facing a crisis to get your legal affairs in order. Schedule a conversation with an elder law attorney today to protect yourself and provide your loved ones with clear guidance when they need it most.