Practicing Elder Care Law is one of the most enjoyable and professionally rewarding careers an attorney may choose.
At the Victoria Law Group, make sure that the result of this challenging process is a client who feels safe and secure with the knowledge that, in the event of death or disability, they have all their bases covered. Having achieved peace of mind that their future is well planned and in good hands, they can get on with the business of enjoying their lives.
For us, a happy and satisfied client has been added to the practice, and another potentially lifelong and mutually rewarding relationship has begun.
Please don’t hesitate contact us for a consultation about your Elder Care Law needs.
Top Questions For Elder Care:
“We help great people achieve the American Dream.”
Top 10 Questions For Elder Care:
Just like Will, a Trust is a method for exercising control over your assets and is an effective tool by which you decide how to enforce it.
A Trust does not require a Probate. This is often understood as an advantage of people using a Trust over a Will to distribute their assets. Trusts are considered less expensive than a Will, and the terms of a Trust are private compared to a Will and Probate process whose terms are public.
The method of distribution of assets through the formation of a Trust is quicker. In a Trust, the Trustee is authorized to distribute assets without the requirement of filing documentation and exercising formalities with the Probate court. When compared to Wills, Trusts also eliminate costs by saving estate taxes.The elderly or senior citizens face a number of issues in terms of Estate Planning.
One of the ways that we help clients is in setting up a comprehensive plan so they may avoid court proceedings upon death or in the event of a disability. Trusts are used in place of Wills for older persons since they do not require court proceedings to settle their estate. Trusts also avoid the foreign probate proceeding, known as ancillary probate, required for property owned in another state. This saves the family time in settling the estate as well as the high costs of legal proceedings.
In addition, since revocable living trusts, unlike Wills, take effect during the grantor’s lifetime, the client may stipulate which persons take over in the event of their disability. Planning helps maintain control in the family or with trusted advisors. It avoids a situation that may not be in the client’s best interest. For example, in the event of a disability where no plan has been put in place, a court application may be required in order to have a legal guardian appointed for the disabled person. This may not be the person the client would have chosen. In such a case, assets may not be transferred to protect them from being spent down for nursing home costs without court permission, which may or may not be granted.
Any existing Estate Planning documents a client may have, such as a Will, trust, power of attorney, health care proxy and living will should be reviewed, at a minimum, to determine whether they are legally sufficient. The should also be reviewed to make sure the documents reflect the client’s current wishes, and whether they are outdated or not.
An Elder Care Law attorney often deals with legal issues that tend to improve or maintain the client’s health and personal care. This area of law practice includes planning for future health care needs through advance directives, such as durable powers of attorney and living wills. The Elder Care Law attorney is also responsible for ensuring the client’s eligibility for public benefits and insurance necessary for long-term custodial care. Elder Care Law encompasses all aspects of planning for aging, illness, and incapacity. Elder Care Law clients are predominantly seniors and their loved ones, and the focus requires a practitioner to be particularly sensitive to the legal issues impacting these clients.
By contrast, an Estate Planning attorney advises people of all ages from young to old. They assist in creating the legacy the clients want for themselves and their loved ones. This practice of law deals with all aspects of planning for the conservation and disposition of estate assets while giving prior consideration to the applicable tax consequences, both federal and state. The Wills, trusts, and estates lawyer advises and then prepares legal instruments for clients to effectuate his or her estate plan, appropriately fund the estate plan, administer estates, and protect the estate in the event of probate litigation.
An Estate planner helps in the following ways:
- Minimize taxes, court fees, and other expenses.
- Draft health care directives, including instructions on what you should do if you become disabled.
- Provide for special needs of relatives.
- Help provide instructions regarding who gets what and when so that your wishes are carried out.
- Include insurance planning, including life, disability, and long-term care.
- Ensure wishes are carried out as to any business plans, including transfers of ownership.
- Take care of minor children by naming guardians and ensuring the right person will manage any inheritance.
Elder Care Law is very broad and encompasses many areas of law. Elder Care Law can include all the functions of Estate Planning, but it goes further. Special financial and life concerns come along with all stages of life.
People are living longer, healthier, and more active than ever, and this means people need to plan more carefully for themselves and their families. Many people are thinking ahead and thoughtfully planning out their lives, whether it is budgeting finances so they can travel, understanding veterans benefits, or figuring out how to finance their housing. At any age, you should be planning your finances and making arrangements so that none of life’s twists and turns will catch you off guard.
It is crucial to understand that Elder Care Law is not just for the elderly, and in fact, the process can be most effective when initiated before advanced age. Elder Care Law focuses on providing a plan to continue living according to one’s wishes as one ages while remaining in good financial standing. Depending on the individual’s circumstances, this plan can include trusts, gifts to family members, the purchase of long-term care insurance in anticipation of potential future needs.
Elder Care Law planning also possesses many of the Estate Planning tools, such as Wills and Trusts, as well as a Power of Attorney, should the individual lose capacity at any point. A proper Elder Care Law plan should be a comprehensive, holistic plan that considers the specific current and future needs of the individual.
Estate Planning focuses on an individual’s assets, how they should be held while the individual is still living, and how they should be distributed after that individual dies. The ability to make specific choices regarding the beneficiaries on each of his/her assets is an important decision for most people.
With the help of an Estate Planning attorney, an individual can create a Will or Trust that reflects the client’s desires regarding how his/her estate should be allocated after their passing. Without a proper estate plan in place, assets will be distributed according to the strict requirements of the law, which may run counter to the true wishes of the individual.
Additionally, an Estate Planning attorney can provide a plan inclusive of the needs of minor children or family members with disabilities. The plan ensures that those family members are provided for according to their unique and individual needs.
Elder Care Law is the only area of law defined by the clients we serve rather than the areas in which we practice. We like to deal “holistically” with our clients in talking about long-term planning for health care, long-term care, financial viability, family dynamics, healthcare and long-term care decisions, personal values, and personal preferences.
With 80 million baby boomers moving into their “golden years,” and one person attaining age 50 every seven seconds, there is a great demand for information and pre-planning. Elder Care Law is one of the fastest-growing areas of law, which should come as no surprise.
It takes a dedicated team of attorneys to stay on top of the changes in legislation which impact the law.
The Victoria Law Group provides services in all areas of Elder Care Law and Estate Planning, which includes:
- Asset Preservation
- Estate and Tax Planning
- Real Estate
- Lifetime Planning
- Probate Administration
- Trust Planning