While both areas of law share similar concerns, the differences make all the difference.
The Concerns are Similar
As the old adage goes: Hope for the best, but plan for the worst. Life is full of surprises and not always for the better. We can get into accidents, especially when we’re young and under the impression that we’ll live forever. Whom would we like to be there for us if we can’t speak for ourselves? If we can’t pay the bills? Decide about our health care?
Both estate planning and elder law attorneys can help you choose people you trust to stand in your shoes when you can’t speak for yourself.
As adults, we start families, work hard, and acquire personal belongings and things we may want to pass on to our loved ones. If we’re thinking realistically, we want to make sure our families are taken care of and our possessions are allocated properly if the worst happens to us.
Both estate planning and elder law attorneys help you with those questions. Both kinds of attorneys also know how to protect your estate from unnecessary tax burdens and to avoid the expense and delay of court proceedings.
The Differences Make All the Difference
Elder law expertise becomes crucial when we get older. We’re living longer, healthier lives, but nobody knows when we, or those whom we love, will get too sick to make decisions or to live independently.
It’s understandable that many people postpone thinking about these things, but delay or denial could mean that entire savings get wiped out paying for nursing homes. Misconceptions about government benefits can forfeit eligibility. If you want to retire from your own business, do you have a plan for a smooth and profitable transition? What quality of life can you protect? What housing arrangements can be made? What is the wisest allocation of financial resources to protect against as many foreseeable contingencies as possible?
This is where elder law attorneys excel. We can help you work through these difficult questions with your and your families’ best interests at heart. Our specialized training can go far to spare you the distress and anxiety if you were caught unprepared. We can steer you to financial arrangements necessary if you or your family need long-term nursing care.
These are difficult, complicated questions that require particular knowledge to answer. Elder law attorneys have studied long and hard for that knowledge. We have learned how to help you plan to enjoy the life you have, plan for when life becomes harder with age, and have something left over for your legacy.
Estate planning is only the beginning. The team at Hodgkins Law has extensive experience in elder law, including MaineCare and long-term care planning, as well as planning for incapacity. For more information, please visit our website or give us a call to attend a free educational seminar or schedule a consultation with our team.