The high cost of long-term care makes proper planning a critical issue for many middle-class seniors and families. Most seniors may find themselves requiring some form of long-term care. Sadly, too many are unprepared for the significant financial burdens such care places on their own finances and possibly even their family’s hard-earned savings. Financial devastation can loom large for families facing ongoing care at a rate of $10,000 or more per month.
Shinners & Cook helps both individuals and families plan for their future by making sure that they have the proper planning in place along with the best advocacy possible to protect finances as much as possible while also ensuring that their loved ones are receiving proper long-term care.
Elder law involves issues that affect people as they get older. It covers several different situations such as disability planning, long-term care, estate planning, and more. Proper planning often is requested by the elder individual themself, but occasionally a child may be looking for assistance for their aging parents assets or health care.
Our experienced attorneys can offer legal advice to help older individuals and their families properly plan and organize for their later years. So, as you and your loved one’s age, you can have the most control and peace of mind for critical decisions involving assets, health care, and quality of life.
If you have additional questions regarding elder law matters, contact us today to schedule a consultation.
While there are similarities between elder law and estate planning, there are key differences as well. Both attempt to help people plan for their future and protect their assets. Estate planning generally focuses on planning how to handle a person’s assets after they’ve passed away. Elder law may also help a person plan for what happens to their assets once they pass away, but it primarily focuses on protecting an older adult’s rights while they’re still alive. Unfortunately, the elderly can sometimes fall victim of financial fraud and even physical abuse by their family members and others. An elder law attorney can help protect an elderly person’s rights, assets, and well-being.
Elder law attorneys advocate for the aging population in many different ways. This can often involve taking a holistic approach to legal issues that an elderly person might be facing. It’s essential to look at everything going on in a person’s life, not just one problem.
An elder law attorney might deal with estate issues, advance directives, drafting wills, and setting up trusts – all for the same person. It’s essential to individualize the help for the person’s specific needs and taking into consideration their health, their family situation, and their finances and assets.
Many people wonder at what age they should consider contacting an elder law attorney. Unfortunately, people often wait too long to address issues relating to elder law.
It can often be difficult, stressful, and costly to obtain elder law assistance at the last minute. Contacting an elder law attorney beforehand can help you plan long-term care long before you need it.
Some of the most common issues in elder law attorney include the following:
Elder fraud usually entails the financial abuse of an aging person’s assets or resources, often by someone they trust. For example, a family member with access to an older adult’s bank account could be siphoning money for their own use instead of using that access to pay the older adult’s bills.
Many aging people meet with an experienced attorney to help them set up trusts or prepare a will. Trusts generally offer people a way to protect their money or other assets and distribute them as they please once they pass away. Setting up trusts often allows the heirs to avoid probate, making it more difficult for other family members to dispute how an older person’s resources are distributed.
One of the most important decisions one may have to face in their life is what to do and where to go if are no longer able to care for themself. Long-term care can be costly and can devastate one’s savings and assets without proper planning. An experienced attorney can help start setting up a long-term care plan beforehand instead of scrambling to figure out what to do after an issue arises.
Health care and income become a significant issue as we age. While Medicare and social security are supposed to be simple to navigate, they can be very confusing without help. Speaking with an elder law attorney who is experienced in these areas can be immensely helpful.
As we age, we face the unfortunate reality of discrimination in the workplace. While it’s illegal for an employer to discriminate against you because of your age, it can still happen. If you find yourself in this position, an elder law attorney can help.
Elder law is vital in many people’s lives. It allows older people to get the help they need with their finances and assets and allows them to get assistance in setting up long-term care and lifestyle planning for the best future possible as they age. If you have elder law questions or are looking for an elder law attorney in Michigan, Shinners & Cook is here to help. Contact us today by calling (989) 799-5000 to schedule a consultation.