As individuals get older, they must start thinking about the future. Whether it’s creating a will or trust to distribute assets or navigating potential health challenges that may arise, working with an elder law attorney in New York can provide valuable insight and guidance to streamline the process.
What Is Elder Law?
First and foremost, let’s explore what elder law is and why it’s vital. Elder law is a multi-disciplinary field covered by many NYC law firms. They aim to work with aging individuals in various areas, including financial planning, legal issues, and interpersonal needs. These New York lawyers can create wills and trusts, assign powers of attorney, and build advanced directives to guide medical care when individuals can no longer make these decisions.
Working with an elder law attorney in New York allows individuals peace of mind that they are making the best decisions to protect their futures. Whether they are expressing their wishes for their loved ones in a will or trust or appointing someone to make critical health decisions in their stead, elder law is one of the most vital aspects of the legal field.
Elder law lawyers can help individuals plan their long-term care goals when they can no longer safely remain in their homes. They can also help the elderly understand Medicare and make the best decisions to ensure optimal coverage for future medical care.
Why Expertise Matters
There are many NYC law firms you can turn to, but it’s important to find one you can trust with your elder law needs. Experienced lawyers understand the nuances of legal matters affecting the elderly, from wills and trusts and probate to powers of attorney, long-term care planning, and medical insurance. The elderly have unique needs, and you deserve to work with someone with extensive experience providing services to clients like you.
Experienced elder law attorneys in NYC have dealt with many possibilities that aging individuals may experience. Knowing how to handle these situations can be invaluable in helping you feel at ease. Elder care attorneys can answer all your questions and guide you through the process.
The Primary Focus Of Elder Law
As individuals get older, their needs change, and they have many questions about what the future may hold for them. By answering these questions, seniors can get peace of mind and overcome their fears. Some of the most common issues individuals face in their later years include the following:
- Paying for nursing home care or assisted living
- Preserving money for the future
- Making medical decisions when the patient is unable to
- Caring for seniors with cognitive issues
Experienced attorneys will answer all questions to help their clients make the best decisions.
The Value Of Estate Planning
Estate planning is one of the most vital roles of an elder law attorney. Everyone should have a will or trust in place that dictates how their assets are distributed after their passing. These legally binding documents provide individuals with peace of mind and help their families understand their loved one’s wishes.
Wills and trusts help reduce tax burdens for family members and can help avoid probate when distributing assets. In creating a will or trust, an elder law lawyer can help individuals name an executor who will take control when needed.
Medicare And Long-Term Care Planning
When it’s time for seniors to enroll in Medicare, there are often more questions than answers. Working with experienced NYC law firms can help individuals make the necessary decisions when choosing Medicare options. They can get answers to their questions and personalized guidance that will ensure they have proper coverage to keep their finances under control. Medical care becomes expensive as individuals age and experience medical issues. With the right Medicare plan, seniors can reduce out-of-pocket costs without sacrificing other things in life.
In addition to Medicare, seniors should think ahead to their long-term care plans. Some individuals do well in assisted living, where they can maintain independence while having access to the assistance they need. However, some individuals may require more extensive care, such as a nursing home. Saving money for these situations and knowing what you plan to do can give you peace of mind.
Staying On Top Of Changes
Elder law matters aren’t something you do once and then forget about them. Life changes frequently, especially as individuals age. Unexpected medical problems can arise, or you may acquire or sell assets. No matter what happens, it’s vital to know when to review your estate plan with your elder law lawyer.
In general, most seniors should expect to meet with a New York lawyer at least once every other year to evaluate changes that have occurred during that time, including from a legal perspective. However, if a significant life change occurs, such as a newly diagnosed medical condition or a change in assets or family makeup, it’s important to schedule an appointment with your elder law attorney to make changes as soon as possible.
If you’re ready to start working on your elder law planning, Gordon & Gordon is prepared to help you work through the process to get the best results. Our experienced elder law attorneys in New York can guide you through all the decisions you must make to prepare for your senior years. We invite you to consult with our team to make all the important decisions in life, from allocating your assets with a legally binding will or trust to choosing the most cost-effective options for your Medicare and long-term care needs.
Contact Gordon & Gordon today to schedule a consultation with one of the top law firms in NYC offering the best in elder law services.