Long Island Elder Law & Estate Planning

power of attorney in smithtown new yorkIf you are planning ahead for retirement and the twilight years that will follow your active years, you may want to consult with an elder law attorney.

Elder law attorneys handle matters that are of particular interest to seniors. Most elder law attorneys also specialize in estate planning. It is wise to look at the eventualities of aging and your ultimate passing in a holistic manner, because one thing leads to another.

If you do decide to consult with an elder law attorney, you should think about the questions you’re going to ask. One thing that you should certainly discuss with your attorney is long-term care.

How Will You Pay for Long-Term Care?

When you are younger, you may go forward with the assumption that you don’t have to plan ahead to be able to address medical expenses as a senior citizen. After all, you are working and paying taxes. Part of your taxes are going toward future Medicare coverage.

Under current laws you will in fact be eligible for Medicare coverage when you reach the age of 65. However, you would do well to understand the fact that Medicare does not cover everything, and there are out-of-pocket expenses for the things that are covered.

In addition to this, if you need living assistance late in your life, you will have to make other arrangements because Medicare won’t pay for long-term care.

Elder law attorneys help people who are concerned about addressing long-term care costs. In the state of New York the average length of stay in a nursing home would cost you over $200,000.

Most people would find it difficult to write a check of this magnitude. Even if you could do it, you may be giving the nursing home money that you had hoped to give to your children and grandchildren.

Medicaid pays for most of the long-term care that people receive in the United States. Because it is a need-based program, you have to take the correct steps in advance to be able to qualify for the program without losing everything that you have worked to accumulate.

Elder law attorneys assist clients who are interested in Medicaid planning.

Elder Abuse Questions

When you consult with an elder law attorney you should also ask questions about elder abuse. Physical elder abuse is a problem, and elder financial abuse is running rampant these days.

These are not pleasant subjects to discuss, but you should be aware of the trends that we are seeing. When you know the facts you can protect yourself by taking certain precautions.

Prepare to Communicate Openly

You are going to be discussing sensitive subjects when you consult with an elder law attorney. Your attorney is used to this level of interaction. Communicate openly, and feel free to ask any and all questions that may come to mind.

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About Eghrari Wealth Training Law Firm

Mark S. Eghrari is an attorney in private practice in Smithtown, New York. He has been in practice since 1988. Mark S. Eghrari provides extensive estate and tax planning services to individuals and businesses. Mr. Eghrari’s primary focus is helping clients avoid probate, minimize or eliminate Federal and State Estate taxes and protect their assets from the high cost of nursing care, if they become ill.