It is very hard for parents to become dependent on their adult children as they age. Reversing roles from caregiver to patient is not simple. Rather than leaving everything to chance, take the benefit of Saint George Estate Planning Attorney who specializes in elder law. These companies are knowledgeable in protecting older people and their families, as well as can help make sure a smooth transition for aging parents and adult children.
Find a Probate Lawyer Who Specializes in Elder Law
Not all companies are similar. While an attorney may help you with matters related to elder law, it is best to find one who specializes in making a will as well as other legal documents like a medical directive. A will attorney with this experience will identify what documents are required as well as can help preserve a client’s assets and manage trusts and estates. Click here to learn more about common estate planning mistakes.
Before selecting one to work with,it is a good idea to interview some companies. Ask if they are members of professional organizations,for example -the Special Needs Alliance orThe National Academy of Elder Law Attorneys, Inc. The attorneys for these organizations have demonstrated their commitment to older people and their families.
Plan for Long-Term Illnesses
Have you ever thought about a long-term illness?The truth is that by 2020, twelve million older Americans will need various forms of long-term illness care. Recently the US Department of Health and Human Services published a study that found that people over the age of 60 have a 30% possibility of entering a nursing home. 10% of these people are expected to stay for more than five years.
Long-term care is very expensive, and nobody wants to burden their family. There is a break between Medicaid Eligibility Thresholds and being capable of paying for long-term care entirely out of pocket. Even wealthy families can have trouble paying up to $ 140,000 a year for a long-term care facility. Saint George estate planner can help you distribute your properties properly and legally should you need professional care. visit https://www.health.gov.au/sites/default/files/australia-s-long-term-national-health-plan_0.pdf to learn more about long-term illnesses.
Spell Things Out with the Help of Saint George Estate Planning Attorney
A parent never wants to think of his children fighting over directives or medical assets. To make sure this doesn’t happen, parents ought to sit down with their children before meeting with an estate planning attorney to write a will. A lawyer can suggest many other legal documents, including a durable power of attorney, trusts, medical directives, and many more. The vital thing is to keep children as well as their spouses informed about your options so that you are not surprised when these documents are essential.
Aging is a reality and it is not easy. But a little advanced planning of your medical directives as well as how your assets should be distributed before it is necessary can assist your family knows all of your desires whether you cannot tell them. Estate planning is the best gift that you can leave for your family. Contact a Saint George Estate Planning Attorney today.