The law has long recognized that the elderly and those with special needs require specific attention and consideration. As such, the areas of elder law and special needs planning have blossomed over past decades. If you or a loved one is approaching the golden years or have a disability that requires special care, you should consult with an attorney that handles legal matters for individuals in these specific populations. The attorneys at Hutchings Barsamian Mandelcorn, LLP regularly assist clients in a wide range of matters involving the elderly and those with special needs.
As the average person’s lifespan continues to increase due to developments in medicine and other technologies, it becomes more likely that you will live to a ripe old age. Therefore, it becomes essential that you plan for the later years of your life.
Living to an older age makes it more likely that you will need long-term care at some point. While long-term care is often all inclusive, it is increasingly expensive. Paying for long-term care costs could easily erode your life savings in just a few short years. Luckily, Medicaid covers many, if not all, of these expenses. But you must qualify for these need-based benefits. An experienced elder law attorney can assist you in Medicaid planning so that it is much more likely that you will be entitled to this government assistance. While our attorneys are skilled in crisis Medicaid planning, it is always better to prepare ahead of time. If you are concerned about long-term care in the future, you should contact our office right away to set up a consultation.
Living longer also makes it more likely that you will become incapacitated and unable to make your own decisions at some point. While it is possible to have an individual appointed as a guardian or conservator after you have become incapacitated, it is more cost efficient to make these decisions for yourself using a durable power of attorney. A power of attorney can be used to appoint someone to handle your care and manage your property in these types of situations. You should also prepare a living will and health care proxy that will allow someone you trust to make medical decisions for you in the event you are unable to do so yourself. Hutchings Barsamian Mandelcorn, LLP will advise on all aspects of the above-mentioned matters and will work with a team of elder advocates to meet your specific needs.
Special Needs Planning
If you have a loved one with a disability or special need, you are likely concerned about his or her care and financial status should you become incapacitated or pass away. Luckily, there are ways to plan for his or her future in advance. Most commonly, this involves the execution of a special needs trust. A special needs trust allows an individual to preserve their eligibility for government assistance while also benefiting from your estate. This allows them to be provided with the basics of food, shelter, and medical care while also living a full and complete life.