Elder law is the practice of protecting a senior citizen’s assets from long-term care expenses (like skilled nursing facilities, memory-care units, and assisting living facilities) and from the government. The costs of these three facilities range from approximately $40,000 a year to $80,000 a year. Below, you’ll find more information about this situation from our estate planning attorney in Cary NC.
Guardianship in Elder Law | Estate Planning Attorney in Cary NC
There are generally two scenarios applicable to elder law. The first involves emergency scenarios, while the second applies to non-emergency situations. Emergency scenarios are when a senior is unexpectedly required to stay at a long-term care facility and that senior had not planned for the costs of the care.
In the second scenario, senior citizens come to us prior to an emergency. With enough time to plan, we are able to help them protect their assets from long-term care expenses and the government. By placing the assets into an irrevocable trust, the court will not have control over their assets, even if a guardianship becomes necessary at some point.
A guardian may be responsible for the following regarding an elder:
- Making living arrangements for the ward
- Arranging for other services such as counseling or food delivery
- Making end of life decisions
- Acting as representative payee and managing federal funds the ward receives
Estate Planning Attorney in Cary NC
Meeting with an estate planning attorney in Cary NC in either an emergency or non-emergency scenario is beneficial in light of guardianship. This is because the elder law attorney may be able to limit the amount of costs and governmental control that could be placed on a person’s assets.
We hope this information helps you better understand elder care and law. If you have questions, contact our attorney.
For those that do not have an estate plan in place, or haven’t reviewed theirs in several years, now might be the best time to start. Our estate planning attorney in Cary NC is here to help you get your estate plan in order should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact our office.
As always, feel free to contact us at our office to schedule a consultation if you are looking for a lawyer to represent you in other legal matters. We are here to assist you with small business needs, trademarking, copyrighting and DWI issues.