Learn more about elder law
Elder law is the field of legal practice affecting the needs and concerns of senior citizens. Estate planning and trusteeship, asset protection and guardianship are among these concerns. They affect everyone who lives long enough and still has something to protect. With Americans living longer than ever before, more and more people are affected by elder law.
Elder law also includes the laws that govern who qualifies to be placed in a nursing home, who is eligible for Medicaid and which assets you will be able to preserve if you qualify. As a general rule, if you make a gift in the five years before you apply for Medicaid, a sanction will be imposed when you apply. This is an example of the importance of planning for the long term, and having someone at your side every step of the way who can advise you on the opportunities and pitfalls in elder law.
Elder law and asset protection
Legal counsel for the elderly is a specialized field — not just any attorney can help. If you are applying for Medicaid, for example, you will want to be able to protect as many of your assets as possible. An elder law attorney can tell you when to apply for Medicaid and what assets you can transfer, and can help you gain the most benefit from the rules of Medicaid.
There are other reasons why you might need the specialized knowledge of an elder law attorney. Suppose you want to name someone who will have the power to make financial decisions on your behalf if you ever lose the ability to make those decisions yourself. This is called financial power of attorney, and an elder law attorney can help you get the language right when designating this person. This is another way the right attorney can make a difference in protecting your house, car and other assets.
Elder law attorney in Charlotte NC
The best time to start thinking about elder law and how it might apply to you is before you ever need it. You want to know you will be eligible for the assistance you need when you need it. If you or someone close to you is approaching retirement age or showing signs of infirmity, you should begin preparing today. The first step is to find an elder law firm to assist you.
Robert C. Whitt, Charlotte attorney, servicing the areas of Charlotte, Gastonia Mount Holly and Gaston, Mecklenburg, Lincoln Counties and surrounding communities. He has helped hundreds of clients protect real estate and other personal property while qualifying for Medicaid, entering a nursing home or benefiting from assisted living services. If you are in need of elder law services or may be in need of them in the future, call today.