It’s difficult for parents to become dependent on their adult children as they age. The role reversal from caregiver to the patient isn’t an easy one. Instead of leaving everything to chance, take advantage of estate planning attorneys who specialize in elder law. These firms are well versed in protecting seniors and their families and can help ensure a smooth transition for adult children and aging parents. Click over here to know more about estate planning attorneys.
First, Find A Will Attorney Who Specializes In Elder Law
Not all firms are the same. While it’s possible for a lawyer to help with elder law issues, it’s best to find one that specializes in creating a will and other legal documents such as a medical directive. An attorney with this experience will know what documents are needed and will be able to help preserve a client’s assets and manage estates and trusts.
Long-term care is expensive and no one wants to be a burden on their family. There’s a gap between Medicaid eligibility thresholds and being able to pay for long-term care completely out of pocket – even wealthy families can have problems paying up to $130,000 a year for a long-term care facility.
Estate planning attorneys can help you distribute your assets appropriately and legally in case you need professional care.
Third, Spell Things Out With The Help Of Estate Planning Attorneys
No parent wants to think of their children fighting over medical directives or assets. To ensure this doesn’t happen, parents should sit down with their children before meeting with a lawyer to draw up a will.
An attorney may suggest other legal documents, including a durable power of attorney, a medical directive, trusts, and more. The important thing is to keep children and their spouses informed about your choices so there’s no surprise when these documents become necessary.