Planning for the future is important, but it can be overwhelming. There are many areas within estate and retirement planning that should be considered and require attention. As you steer through the intricate path of planning for your retirement and estate, it is essential to seek the legal assistance of a knowledgeable elder law attorney in Newton Square, PA who can help guide you through the complex system known as elder law and planning. Elder law and planning consist of organizing the legal matters that affect elders, disabled individuals, and families. It includes establishing an effective plan that will help thwart any future legal, medical, and financial issues that may arise. Being prepared for the future is wise. Adequate preparation can significantly deter or diminish unforeseen difficult life events. At DeFino Law Associates, we have years of experience helping clients with their elder law and planning needs. We will provide the advice and support you need to get you and your family ready to face the future with ease.
Elder Law and Planning
Elder law and planning is more than planning for your retirement and estate. It includes planning for the events that can alter your life as well as your family’s life while you are still living. It involves the areas of social security, Medicare, Medicaid, healthcare directives, long-term care, special needs planning, disability planning, guardianship, powers of attorney, estate planning, and financial planning. Trying to solve and navigate all of these areas requires the expertise of a Newtown Square, PA elder law attorney who can walk you through each of the challenging areas of elder law and planning. Your elder law attorney in Newtown Square, PA can assess your unique situation and determine the solutions that will best fit you and your family.
Durable Powers of Attorney and Guardianship
As we age, our needs and concerns change. Questions regarding health, finances, and care can become reoccurring themes in our life, and it is important to address them. It is especially important to address concerns that involve the possibility of having someone else act on your behalf in case you are no longer able to make legal, financial, and health care decisions. When a person can no longer make their own legal, health care, and financial decisions, it is necessary to have a trusted designated person who can make those decisions for you.
While planning for your estate, your elder law attorney in Newtown Square, PA can help you designate a durable power of attorney who can help you with your needs in case you become incapacitated. Since financial and health care decisions are treated separately, it is essential to have both a durable power of attorney for health care and a durable power of attorney for finances. It is also important to note that a durable power of attorney is different from a power of attorney. If you only have a power of attorney designated, they will not be able to act on your behalf if you become incapacitated. Only a durable power of attorney will be able to act on your behalf in the event that you are no longer able to make decisions.
Having a conversation with your Newtown Square, PA elder law attorney may not be easy. No one wants to think about the possibility of not being able to take care of their own legal, financial, and health needs, but it is much better to be prepared than unprepared. If you do not designate a durable power of attorney and you become incapacitated, the matter will be taken to probate court. At probate court, the judge will assign a guardianship over you to take care of your affairs. The guardian will most likely be someone that you do not know. They can be an individual, agency, or institution, and will have the court’s approval to manage your affairs. The majority of people prefer to have someone they know and trust to manage their affairs. Thus, it is vital to talk to your elder law attorney in Newtown, PA to ensure that you have someone you trust designated in your estate as your durable power of attorney.
Long-Term Care Planning
It is not easy to think about the possibility of needing long-term care, but similar to the other areas in elder care law and planning, it is a very important topic to discuss with your elder law attorney in Newtown, PA. As much as we want to stay independent and stay living in our own homes, life may have other plans and take unexpected turns. Unlikely as it may seem, health concerns may arise where you may need the assistance of long-term care. And, even if you are lucky and do not obtain any life-altering health issues, the natural process of aging can eventually lead you into requiring long-term care.
Therefore, long-term care is a significant concern for aging senior citizens and their families. It is costly, and without adequate preparation and planning, it can become a financial burden to you and the ones you love.
Long-term care can be facilitated privately at home with a loved one, in an assisted living facility, or in a nursing home. Regardless of where you choose to have long-term care, it is important that you feel that it is the right choice for you, and planning for it in the present can help make the transition much easier later. To assess the different options, costs, and measures available to you for long-term care, it is advised to consult an elder law attorney in Newtown, PA. Your elder law attorney can advise you on whether you qualify for Medicaid and government financial support. Your attorney can also inform you on how to qualify and walk you through the process to make sure that you are eligible and able to receive Medicaid and any government financial assistance.
It is highly recommended to discuss your long-term care needs with an experienced Newtown, PA elder law attorney. Your Newtown, PA elder law attorney can talk to you about the best options that can beneficially serve you and your family when it comes to elder planning and long-term care. At DeFino Law Associates, we are here to make sure that all of your concerns are addressed throughout the entire process of elder planning.