My last You Tube covered legal assessment of older people as part of a psychosocial assessment. I mentioned hiring an elder law attorney. What is an elder law attorney and why do you or your aging family clients need one ? Check out the National Association of Elder law attorneys web site and find out http://www.naela.org/. After visiting parents over the holiday season, you may need one.
After are some ways an elder-law attorney might work with you to:
Structure assets to minimize taxes and avoid the inconvenience of probate.
Develop a plan to efficiently utilize available health insurance options, including Medicare and Medicaid
Establish trusts to protect assets and reduce inheritance taxes
Organize a house transfer to secure family property
Assist in developing a plan to manage finances, including development of joint accounts and trusts and completion of a power of attorney
Complete advance directives as applicable to relevant state laws
Collaborate with their elderly client and family members to consider available and appropriate living arrangements
Advise government programs for which a client may be eligible
The Larger Picture: Elder-law attorneys, familiar with the medical and psychological issues associated with aging, typically work with other eldercare professionals in the community and can help to determine if additional services are needed and then link clients to the proper agencies. The elder-law attorney can, and often will, bring together a team of individuals with highly specialized capabilities to work on the person’s overall needs. This group might include the person’s doctor, a social worker, a geriatric case manager, an accountant, a financial planner and an insurance agent. An elder-law attorney can serve as the coordinator of these other professionals and provide a personalized legal plan that is tailored to the unique demands of the situation.