Stuart, FL – Elder law is a term for a number of different legal issues that become important as people age and need to plan for things like healthcare costs and giving their families inheritance. There are some legal professionals and law firms that dedicate their practice to these kinds of problems and providing solutions for their clients. A brief overview of elder law can assist potential clients who are thinking about getting help as their family members age and need to make important decisions.
Property disposition and wills
Most individuals who are reaching their final years will create a will so that their property and inheritance can go to certain family members through the probate courts. A will is a basic document that can accomplish these goals, however there are also more advanced forms of estate planning that can be done through trusts and other legal instruments. Each family should get advice from a legal professional regarding what forms of property disposition will function best for their situation, as a complete estate plan is usually necessary for families with larger amounts of assets and property.
Some people become incapacitated and cannot handle all of their financial and legal affairs on their own. There are documents such as power of attorney and advance healthcare directives that can be used to indicate what will happen in these situations, or which family member can start to make decisions regarding money and property on behalf of the incapacitated person.
Healthcare costs can become very expensive if someone needs long term or full time care in a nursing home or similar facility. The Medicaid program can help with these costs, but serious planning should go into paying for healthcare costs, otherwise the family’s inheritance and other sources of money can quickly be absorbed by additional healthcare costs.
A trust is a very versatile legal instrument that can start to distribute money and property to family members or charitable organizations while the testator is still alive, and continue after the person passes away if necessary. Because trusts can accomplish so many different goals, it is helpful for anyone considering using a trust to get legal assistance to set one up and discuss their plans for the future. A trust can even be modified if plans change at a later date and time to accommodate new circumstances.
Getting more information about estate planning issues
Individuals or families who need estate planning assistance should contact an experienced local attorney who focuses on these matters. The Estate, Trust, and Elder Law Firm helps local clients in Stuart and nearby areas in Florida.
Firm contact info:
850 NW Federal Highway, #1004, Stuart, FL 34994