In last week’s Blog, we identified certain topics in Elder Care that play a large role in our comprehensive personal financial planning practice. Today’s topics are no less serious and pertain to a wide variety of our clients, radio listeners, and community residents. Keep in mind that these are areas of practice for Elder Law Attorneys and that we are not lawyers. We will, however, work with your attorneys when we have a client relationship.
Before we address any issues, it is wise to address the 800-pound gorilla in the discussion – cost. Qualified Elder Law practitioners will discuss your situations at no initial expense, and either make an offer to help or direct you to charitable agencies that render low or no-cost assistance. There is truly no reason to ignore an important issue due to cost expectations. In fact, most people have much more to lose than the cost of receiving assistance.
Veterans’ Benefits is an area of concern for a significant portion of Northeast Florida’s population. Most veterans (and their families) are unaware of the vast array of benefits available to those who have served in the armed forces. The U.S. Government is not the greatest communicator with respect to available veterans’ benefits. Certain Elder Law attorneys are qualified to direct veterans to the panoply of available benefits.
Veterans, their families, and surviving spouses should seek assistance not only with available benefits but also in navigating the interaction between veteran-only benefits and generally available programs. Of particular importance to older vets is the VA Aid & Attendance Program, which provides Long-Term Care benefits for nursing care, either at home or in a facility. For many families, this makes the difference between financial comfort and poverty. For many, it facilitates staying in a personal home, as most prefer.
Estate Planning is a complex area of personal finance and one that our clients take seriously. Elder Law can be an integral portion of overall Estate Planning, depending on the status of family members. Factors such as age, health, veteran status, asset levels and types, tax considerations, and a host of other considerations interplay in Estate Planning.
Among the most complex topics in Elder Law is Special Needs Planning, although the affected individual can be of any age. Providing a lifestyle, including comfort and safety, can be a complex endeavor. Elder Law Attorneys are a valuable source of information and may be assisted by your Certified Financial Planner®.
Never assume that before you can receive help you need to spend all your money and liquidate your assets. We can assist you with recommendations.
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