What is the Difference Between Elder Law and Estate Planning?
Elder law focuses on guiding and counseling senior citizens with the issues that arise due to aging. Our Denver elder law attorneys help aging people with long-term care, choosing an estate plan, choosing retirement plans, creating wills, and more. While elder law specifically focuses on the elderly, estate planning is applicable to everyone else. It helps people make a plan in advance to control who receives the things you own after you die.
Should I Hire An Elder Law Attorney?
At the law firm of Phillips and Blow, PC, we believe that realistic planning for elder law is always better than buying someone’s “magic beans” that may or may not work and could even be harmful. Our elder law lawyers take a conservative and prudent approach, utilizing all of the tools and techniques legally available to you, such as special needs trusts and long-term care insurance. We practice in the south Denver metro area and throughout Colorado.
Colorado Medicaid Planning for People Over Age 60
Nursing home and long term care costs can easily take all of the assets you wanted your beneficiaries to have. Medicaid will cover the costs of this care, but only after you have spent down your assets to become eligible for Medicaid.
Over the years, many tools and techniques, such as asset transfers, have been tried to gain eligibility for Medicaid. Almost all have been disallowed by the government. While there are some Medicaid-planning techniques that still work (at least until their use is ruled out), you need to be careful not to be taken in by anyone promising wondrous results.
What Questions Should I Ask An Elder Law Attorney?
When you are over age 60, estate planning and tax planning become increasingly urgent. The Will that made sense for you at age 40 may not make sense when you are older, especially if you or your spouse are in a position where you may become incapacitated and need long-term care. We will help you prepare for questions such as:
At what age should someone contact an elder law lawyer?
What will happen if you move to a different state when you retire?
What will happen if one of you (either you or your spouse) needs to be admitted to a nursing home?
How can you avoid the need for guardianship if one of you should become disabled?
Do you need a living trust?
No one plans to fail. However, many people fail to plan. At the law firm of Phillips and Blow, PC, we provide a comprehensive approach to estate planning for all stages of your life.
Call Today for a Free Consultation
Call (303) 741-2400 or fill out the contact form on this website to schedule a no-cost, no-obligation consultation with a Denver elder law lawyer today!