Can I Help My Parent Address Estate Planning and Elder Law Needs at the Same Time?
For many Gwinnett County residents who are currently in their 30s, 40s, and 50s, it is a time in life when it is becoming necessary to help with care for an elderly parent. Some older parents are still in a position where they do not need assistance with medical care, mobility, or activities of daily living, yet some are already at this point and do not have an estate plan and have not considered asset protection or long-term care strategies. Regardless of whether your elderly parent actually needs help now (or simply could need help in the future), it is essential to do what you can to ensure that your parents have an estate plan in place and that they also consider various aspects of long-term care and Medicaid planning.
If you are in this situation and have an elderly parent who needs to think about estate planning and these important components of elder law, you may be wondering if this can all be taken care of at one time. Typically, the answer is yes. Our estate planning lawyers in Norcross routinely work with elderly clients and provide asset protecting, long-term care planning, and Medicaid planning assistance.
How Estate Planning and Elder Law Intersect
Estate planning intersects with many different aspects of elder law, so it is common (and helpful) to work on certain elder law issues with an estate planning lawyer.
Estate planning attorneys, including our Gwinnett County estate planning lawyer, have experience handling various strategies for asset protection with an eye toward eventually needing long-term care or Medicaid coverage for a nursing home stay. Such asset protection strategies overlap with other components of estate planning, such as creating a trust or handling certain insurance plans.
Estate planning and elder law also both involve the creation of a Georgia Advance Directive for Health Care, through which an older adult (and adults of any age — everyone should have this document) can address their decisions about future health care treatment or its withholding, and can name a person they trust to make important health care decisions for them if they become unable to do so themselves due to incapacity.
How Our Gwinnett County Estate Planning and Elder Law Attorneys Can Help Your Parent
At Bowman Law Firm, we can help your elderly parent with many crossover aspects of elder law and estate planning, including but not limited to the following:
- Writing a will;
- Creating one or more types of trusts for asset protection;
- Handling long-term care insurance and identifying beneficiaries;
- Creating a Georgia Advance Directive for Health Care; and
- Powers of attorney for financial matters.
Contact a Norcross Estate Planning Attorney Today for Assistance
If you have an elderly parent who has not yet created essential estate planning documents or considered asset protection strategies and long-term care planning, it is important to know that all of these tasks are something that an experienced Norcross estate planning lawyer at Bowman Law Firm can help with. As we discussed above, estate planning and elder law overlap in a wide range of ways, and many estate planning tools are used to help adults plan for long-term care needs and Medicaid coverage for nursing home stays. Contact our firm today to find out more about how we can help you and your parents with estate planning and elder law needs.
Source:
law.justia.com/codes/georgia/title-53/
