Most of us will need legal advice at some point in our lives. For older adults – or those anticipating their retirement years – an Elder Law Attorney can be invaluable in all matters that impact senior adults and their families. From the complex issues of financial planning to the emotional decisions that accompany end-of-life planning, Elder Law Attorneys help seniors and their families make plans that support autonomy and financial freedom.
Elder Law Attorneys aren’t just about the future. They are all about the right now. No matter your age, an elder law specialist can help you visualize a roadmap to healthy aging. Once you’ve established your vision for the future, your attorney works with you to get those wishes in writing.
An Elder Law Attorney not only pre-plans for the distribution of assets after death but strives to preserve your assets and protect your legacy during your lifetime. An Elder Law Attorney will be with you for a lifetime and might become one of your favorite professional relationships.
5 Reasons to Embrace Elder Law
- Dynamic estate planning
- Special care planning and coordination
- Support and guidance for grey divorce
- Financial planning
- Trust, probate, and estate administration
1. An estate plan is not always one-and-done.
You are unique. The roadmap for your life is not one straight line from Point A to Point B. As you experience milestones events and health changes, you can rely on your Elder Law Attorney to update your plan and keep you on track with your aging plan.
Dynamic Document Changes
Milestone events
Relocation
Changes in laws
If you have been a snowbird and now call Florida your full-time home, it’s time to review your advance directives. If your estate plan was completed before 2011, schedule an appointment to update your documents. Births? Deaths? Divorce(s)? Milestone events can prompt changes in who will make decisions on your behalf and beneficiary designations. From life events to updates in the laws, Elder Law Attorneys keep up with the changes, ensuring that your plan isn’t sidetracked by outdated information.
2. Elder Law Attorneys understand your life is not a template.
Sure, you can get a fill-in-the-blank document online or at an office supply store, but you can’t customize that DIY document to fit your needs. Whether you need a care contract to provide for a special needs family member or asset protection from a divorcing child’s spouse, an Elder Law Attorney understands the laws unique to you. Life can be messy; drafting documents that work for you and keep your goals clearly defined is exactly what an elder law specialist is prepared to do.
Life changes may require special care planning and coordination. Your Elder Law specialist is uniquely qualified to utilize strategies coordinating financial, legal, and health care decisions that older adults encounter. For an attorney who specializes in elder law, it is all about partnership and trust.
3. Your Elder Law specialist can help guide you through a “grey divorce.”
Identified as a phenomenon in the 1980s, grey divorce has been an increasing trend, creating new challenges to be navigated. Older couples have often accumulated assets, including real estate, retirement savings, and benefits intended to fund their lifestyle after retirement. Unlike divorce at a younger age, this trend creates critical financial considerations, including the division of real estate and other assets the couple has amassed during their marriage.
Retirement savings divided between two households, rather than supporting just one, can greatly change aging plan goals. Living together as a married couple provides mutual live-in assistance when care needs increase. Grey divorce can increase the demand for social services, professional caregiving, and affordable housing due to the higher expense of a couple divided.
Unique Challenges of a Grey Divorce
Housing
Finances
Benefit pension plans
For couples over 55, the divorce rate has doubled and for those 65 and older, the rate has tripled. An Elder Law Attorney is uniquely qualified to provide guidance before, during, and after a grey divorce to protect assets and adjust an aging plan. Sensitive to the difficulty that any divorce brings, your elder law specialist is prepared to refresh your roadmap and keep you moving forward.
4. Consult an Elder Law Attorney for a financial plan beyond retirement.
Before and after retirement, a strong financial advisor manages your money and keeps you invested in the right funds. A savvy elder law specialist helps you create a comprehensive estate plan that manages your assets before and after death. Additionally, they will draft wills, establish trusts, and designate beneficiaries to carry out your wishes effectively.
Your elder law specialist works with you to create a strong plan for long-term care and end-of-life decisions. This often includes consideration of Public Benefits such as Medicaid and, if eligible, Veterans Benefits. Applying for public benefits is a timely process, and having your Elder Law Attorney explore those options with you in advance can be far more efficient.
5. Hire an Elder Law Attorney for Trust, Estate, and Probate Administration.
You work tirelessly to create a sustainable lifestyle for yourself and your family. Protect the administration of your trust, estate, or probate by hiring an experienced Elder Law Attorney. These matters include complex legal guidelines, and an elder law specialist is uniquely qualified to optimize your finances and assets.
For older adults who don’t have children – or their children aren’t trustworthy – an Elder Law attorney is an ideal advocate to administer an estate. The long and complicated process of probate can be hard on even the closest of families. Avoid placing additional stress on a family member when you hire a neutral third party – your trusted attorney specializing in Elder Law.
In Florida, representation by a lawyer is a requirement in most probate processes. This is a good thing because, with so much to know, it’s hard to imagine going through the process alone after losing a loved one. Without a strong understanding of Florida Probate Rules, you don’t want to represent yourself in such an important matter.
Hiring an Elder Law Attorney is an Important Decision
Your Elder Law Attorney will be with you for a lifetime and with your family for even longer. Choose a lawyer who makes you comfortable, allowing you to be honest and communicate openly so that they can understand your needs. These professionals will celebrate your successes and mourn your losses with you, adjusting your aging plan and refreshing your roadmap to protect you and all you hold dear.
The best time to get familiar with your local elder law specialist is now. It is never too early to start planning for your future; peace of mind for you and your family is invaluable. Read more about the services of Elder Law Attorneys in the Legal and Financial Section of our Blog.