As we age, it only makes sense that
our parents are aging, as well. And while watching our parents grow from the
people who took care of us into elderly adults who, in turn, need care can be
difficult, it’s important that we’re aware of what we can do to protect them
mentally, physically, and financially. Concerning the latter, there are ways to
protect elderly parents’ assets. And while it may seem complicated, there are
ways to make sure it happens.
What is elder law? And how does it
impact you? Those are important questions, especially as we age. With our
longer life expectancy, elder law is a somewhat new area of the law, and exists
to serve the needs of the elderly and disabled, along with their families.
Elder law covers a wide-range of issues, both legal and financial.
Your estate plan is in place to protect your assets from creditors and the future of your family. You are proud of the amount of work you put into your estate, and you want to make sure it is always in top condition. As the New Year approaches, most people make resolutions about losing weight or getting a new job. One of your very important resolutions should be to take the actions necessary to make sure that your estate plan is still as solid as it was the day you and your estate planning attorney finished it.
For many seniors, your house is
your largest asset, so you’re naturally looking to protect it in the event of a
medical issue or death. And while you might have a will, it may not be enough
to protect your assets. While both are legal documents laying out what you’d
like to have happen at your time of death, there are several key
If you’re the parent of a special
needs child, you probably know that there are steps that need to be taken
before your child turns 18 in order to retain legal guardianship. Those steps
need to be taken through the Florida court system, which can be intimidating
and confusing. Luckily, help is available by obtaining a special needs planning
attorney at The Mattar Firm.
Living trusts are a straightforward
way for people to pass their assets on to their intended beneficiaries upon
death, and a way to bypass probate. They’ve become more and more popular over
the last decade for these reasons. However, for some people, a question arises:
Can beneficiary designations replace a trust?
The reality of aging is a part of
life, and, as unpleasant as it may be, it may lead to needing long-term care
before we die.
Whether it’s care for a specific
cognitive illness, like Alzheimer’s disease, or any number of physical ailments
that leave us unable to care for ourselves, going into a nursing home care
requires us to examine a host of issues. Long-term care last from 2.5 years for
women, to 1.5 years for men, on average. Nearly 14 percent of people who enter
a nursing home will be there for five years or longer.
Applying for Medicaid can be a
confusing, and often daunting, task. And, while an elder law attorney is an
important resource for people who are applying, many don’t reach out to an
attorney, based on fears over the cost involved. However, an elder law attorney
can help you save money in the long-term, and ensure that your or your loved
ones are receiving the best care possible. Of course, there are a number of
reasons to consult The Mattar Firm if you’re considering applying for Medicaid.
Here are some of them.
Protecting assets from a nursing home is the new
challenge for many because they risk losing their assets if one of them becomes
a resident to a nursing home.
You should plan ahead and protect your assets. As one
grows older, the concern of losing all or some of their properties to nursing
home grows, and they start to plan and consider options available to protect
Some people have the notion that estate planning is for
the wealthy. However, it is imperative to realize that without undertaking this
process, it’s hard to choose who gets to inherit the assets you have worked so
hard for in your life.