FLORIDA – November 6, 2020
Elder law provides for the protection of an elderly person’s assets, and their mental, physical, and emotional well-being as they progress in age and certain limitations leave them vulnerable to unsavory acts of representatives, or caregivers. The legal field covers situations that many people encounter as they age, including medical and financial planning, long-term care, and the ability to pay for these services without depleting lifetime savings, and other assets.
Elder law attorneys assist with financial planning specific to the needs of aging individuals, as opposed to the activities that will be considered after death regarding estate planning. The financial planning involved in elder law addresses:
- The preservation of assets to secure financial security in aging, sometimes accomplished by setting up a trust,
- Researching and securing long-term care in the case of disability, or incapacitation,
- Taking measures to qualify for all applicable government benefits.
Long term care.
Many Americans require assistance in their activities of daily living as they age and need to hire either home care services, or move into a nursing home, or assisted living situations that can be quite costly. Long term care insurance is beneficial to cover these types of costs and an elder law attorney can explain the importance of setting up insurances before the actual need exists. Medicaid is another option through the government program that covers the costs of nursing home care, but it is based on financial need. Attorneys can explain all of these options and help individuals structure their assets so they meet the qualifications outlined in Florida State Medicaid Law, as well as Medicare, Veterans Affairs Benefits, Social Security Benefits, and other applicable elder support programs.
An elder law attorney can also explain the benefit of adult protective services, who assist when an elder has been abused, neglected, or exploited. Any person who knows of the corrupt behavior causing harm to an elderly person should contact the abuse hotline at 1-800-96-ABUSE (1-800-962-2873), press 2 to report suspected abuse, neglect or exploitation of the elderly or a vulnerable adult. This toll free number is available 24/7 to report the occurrence, or suspicion, so it can be properly investigated.
Seek legal counsel to address questions and concerns about how aging individuals will be taken care of when they have difficulty managing their own finances, or activities of daily living. Contact an experienced attorney at The Estate, Trust & Elder Law Firm, P.L. in Vero Beach Florida to assist with plans for finances and available care options.
The Estate, Trust & Elder Law Firm, P.L.
IRC Chamber of Commerce
1216 21st Street
Vero Beach, FL 32960