In recent years, the elderly population in the United States has exploded, and this trend is anticipated to continue in the future decades. Shockingly, less than 4% of elder abuse cases are reported in New Jersey every year, while the rest get buried in the soil. Seniors can achieve complete peace of mind as they age with efficient, proactive planning and the assistance of an elder law counsel. If you are looking for reasons you might need an elder law attorney, let us give you five. Read more here.
1. To keep your partner safe
When a person gets admitted to a care facility, the spouse at home cannot maintain their existing standard of living if there’s no planning. In such cases, elder law experts help protect or transfer the funds to prevent spousal poverty.
2. To Mitigate a disability
To manage finances, make medical decisions and transfer responsibility to another person in the event of impairment, elder law practitioners employ durable powers of attorney, living trusts, and “living wills.” When there’s no planning, the court may appoint somebody to handle these matters.
3. To make an estate plan
Elder law attorneys help with estate planning procedures such as trusts, wills, and other legal documents. A personalized estate plan guarantees that fortunes stay in the family and therefore are not acquired by the undesired. Seniors can regulate how inherited assets get used if the recipient has a dependency or debt, provided they have a plan. Elders in stepfamilies can make sure their present spouse and kids from past partnerships are cared for when they pass away.
4. To address estate and fiduciary concerns
Seniors are more susceptible to scammers, theft, and extortion. Seniors and relatives who suspect someone abusing an elder can seek representation from elder law attorneys.
5. To seek guardianship
Elder law attorneys represent families seeking guardianship of an elderly or an individual with special needs who cannot handle their affairs. A person whose family has made a custody request can also get representation.
Hiring an elder law attorney to preserve the assets of your loved ones and organize your documentation can save you time and money in the long run. You might not get enough time to act when their health worsens or when they require extra care from a senior care center. Make sure your lawyer is aware of the circumstances ahead of time, and you’ll be safe from troubles for years to come.