of these issues are related to health or wealth. Overcoming these obstacles can be difficult for an elder, especially if they never encountered anything similar in the past. In order to make things simpler for older generations, a great number of laws and regulations have been drafted and established with the specific needs of the elderly in mind. This grouping of laws is commonly referred to as elder law.
Important Facets of Elder Law You Should Know
Overall, elder law is a term used to describe any legal statute that pertains to the elderly. To this end, elder law can be quite extensive. There are, however, a few key topics in elder law that come up often and can make large impacts in an elder’s life.
Six crucial aspects of elder law are:
- Advance directives: An elder should create an advance directive to provide instructions to family members regarding the medical treatments they would like to receive, or not receive, should they become incapacitated. Many advance directives are coupled with living wills with further or accompanying instructions.
- Healthcare planning: The many nuances and intricacies of both Medicaid and Medicare can make it difficult for an elder to know how to set aside money to pay for assisted living and nursing in their later years. Healthcare planning typically involves sitting down with an elder law attorney to gain an understanding of Medicaid/Medicare in order to avoid unjust exploitation on behalf of third parties and to best establish a plan to pay for long term care
- Durable power of attorney: Some elders prefer to give direct power or responsibility of their property, duties, and care to a specific individual. Using a durable power of attorney can legally establish this relationship.
- Wills: Elders may create extensive written instructions, or wills, for family members to follow as best they can after they pass away. Wills are a common tool in estate planning, as they can be quite versatile in function and may easily distinguish who should inherit what and why.
- Estate planning: The plan for all of an elder’s property, assets, finances, and debts after they pass away can be summed up in estate planning, arguably the largest bulk of elder law. With a variety of legal tools, estate planning can solve most any legal concern of an elder, given they work with an elder law attorney for guidance.
- Guardianship: It is not pleasant to contemplate the possibility of one day being unable to make your own decisions to advancing health issues, however, there is comfort in proactively selecting who you want to be your Guardian and/or Conservator should you be unable to make your own financial or health care decisions. The alternative can result in numerous friends or family members fighting in court over who may make decisions on your behalf.
Phoenix Elder Law Attorneys – (602) 900-9860
Moving towards the future as an elder will feel much more comfortable if you have given yourself a plan to lean on and the ability to overcome unexpected legal challenges. You can find the legal assistance, guidance, and representation you need by working with Taylor & Lihn, PLLC and our Phoenix elder law attorneys and estate planning lawyers. With us by your side, you can feel confident that you are prepared for tomorrow.
Would you like to know more about Taylor & Lihn, PLLC? Contact us today for a free consultation.