May is National Elder Law Month – #4

ElderLawMonthLong

The National Academy of Elder Law Attorneys (NAELA) has declared the month of May “National Elder Law Month.” NAELA will be sponsoring programs throughout the United States to educate older Americans about their legal rights and to call attention to the legal resources available to them within their own communities. I am a member of NAELA, which is a professional association of attorneys dedicated to improving the availability and delivery of legal services to older Americans. In this fourth in a series of five posts, I want to talk more about the importance of planning for long term care needs and other issues.

What are the key issues for which older persons need to plan?

  • How to have sufficient resources at retirement to support a preferred lifestyle
  • Estate planning, including planning for the management of one’s estate during life and its disposition on death through the use of trusts, wills, and other planning documents
  • Preservation/transfer of assets seeking to avoid spousal impoverishment when one spouse enters a nursing home
  • Disability planning, including use of durable powers of attorney, living trusts, “living wills” for financial management and health care decisions, and other means of delegating management and decision-making to another in case of incompetency or incapacity
  • Supplemental and long-term health insurance issues

I help my clients with these issues every day.  Please contact me if I can be of assistance to you or a loved one.