Elder law is the general term used to refer to helping people understand the issues that they may face as they age. This is a very broad topic, which encompasses everything from avoiding guardianships and dealing with guardianships when necessary, to powers of attorney, bank accounts, retirement accounts, Medicaid, Veterans issues and many other issues that are faced not only by the elderly but also by their children and family as they seek to assist them.
In addressing elder law, we work with guardianships and issues facing everyone, not just the elderly. A guardianship is a court supervised proceeding where a guardian of the person is appointed to make decisions regarding living arrangements and health issues of the ward. A guardian of the estate is appointed to make decisions regarding the financial affairs of the estate, to collect the estate and pay the debts of the estate.
Attorney for financial affairs (Durable Power of Attorney) and a Power of Attorney for healthcare.
Without these very basic documents, it may be necessary for the court to appoint a guardian. This
can be a very costly procedure, which will result in the estate paying initial fees to set up the
Guardianship, and additional annual fees for maintaining the Guardianship and bonds.
Guardianships are cumbersome and require court approval. In all of these issues, consideration must be given to the particular situation of the individual, the impact of the financial options on the retirements plans, possible Medicaid issues and the other family relationships. Failure to seek the advice of an attorney can cause unwanted problems with income taxes and ineffective results.
Material presented on this website is intended for information purpose only. It is not intended as professional advice and should not be construed as such. The services of a competent professional should be sought if legal or other specific expert assistance is required.