There is a Catch-22 of sorts that is applicable to elder law issues, and it is something that should be addressed although it is a rather tricky and sensitive subject. A limited percentage of people are willing to confront this reality head-on, but memory loss which leads to the inability to make sound decisions is something that must be prepared for when you look at the statistical probabilities. It is easy to make the statement that "you must make plans for possible incapacity due to … [Read more...] about Elder Law Issues Require Open Communication
Considering the rising costs of nursing homes and assisted living communities, prudent long term planning is necessary to make sure that you are prepared financially for all of the eventualities that you will face as you enter your twilight years. It is likely that you or your aging parents will need long term care at some point in time, and this is something to address both as an individual and as a family. The current national average cost for a year in a nursing home is over $83,000, and … [Read more...] about Paying For Long Term Care
Most estate planning attorneys consider themselves to be experts in the larger specialty of elder law, and it is indeed a rapidly burgeoning legal niche. Many people are surprised when they hear that senior citizens are the fastest-growing segment of the society in the United States. But they are even more stunned when they hear just how fast the senior population is growing. It is estimated that the number of seniors in America will double by 2030. Some 10,000 Americans are applying for Social … [Read more...] about Alzheimer’s Disease, Dementia, & Elder Law
When you look at the statistics, the rapid increase in the numbers of people who are 85 years of age and older is really eye catching. The fact is that you may well live into your mid to late eighties and beyond, and this makes incapacity planning a vital component to any comprehensive preparatory strategy. If you are a widow or a widower and you were to become incapacitated, your various family members may have different ideas about the the way that you would choose to proceed if you were … [Read more...] about Incapacity Planning, Advance Directives, & Your Family
When you are engaged in estate and retirement planning you want to stay right on top of the things that you have control over. But no matter how meticulous you may be there is always going to be some uncertainly involved due to the things that are out of your hands. This having been said, the financial meltdown that occurred a couple of years ago threw a lot of long term plans off course. There are those who don't have the liquidity that they expected to have, and some people who are in this … [Read more...] about Reverse Mortgages At A Glance
We like to point out the reasons why estate planning is something that is relevant to virtually all adults regardless of their stage of life on at least some level. But there is no getting around the fact that estate planning and other elder law issues are going to become more and more relevant to you as you age. As the years pass you see family members, friends, co-workers, and acquaintances experience some of the eventualities of aging, and it is human nature to consider the possibility that … [Read more...] about Older Americans Should Aim For The Stars
Many people hear the term "elder law" and are not certain about all that it entails, so we would like to provide a brief overview. In essence, elder law involves helping people make preparations for all of the eventualities of aging. One of the primary areas of focus for most elder law attorneys is going to be estate planning. You might think that passing along your assets to your heirs should be a very simple matter that doesn't take a great deal of expertise. Unfortunately, this is not the … [Read more...] about What Is Elder Law?