Elder Law
Protecting the Rights & Assets of Seniors
By Daniel Khaldarov
Elder law is a specialized area of legal practice focusing on issues that affect older adults and their families. As life expectancy increases and people live longer, the legal challenges associated with aging have become more complex. Elder law attorneys help seniors and their families navigate these challenges, ensuring that they are prepared for the future while safeguarding their rights and assets.
Key Areas of Elder Law
Elder law covers a wide range of topics, all centered around helping seniors and their families make informed decisions about their future. Here are some of the most common areas of focus:
- Estate Planning
Estate planning is the process of preparing for the transfer of an individual’s assets after their death. For seniors, this often includes drafting or updating wills, establishing trusts, and making plans to reduce potential estate taxes. It also involves preparing for incapacity by designating agents through a power of attorney and health care proxy to make their financial/healthcare decisions if they are unable to and recording their end-of-life medical preferences in a living will. - Long-Term Care Planning
Long-term care planning is one of the most critical components of elder law. With the rising cost of nursing homes and assisted living facilities, many seniors worry about how they will afford the care they need. Elder law attorneys can help seniors explore options for paying for long-term care, including Medicaid, Veterans Affairs benefits, and long-term care insurance. - Medicaid and Medicare
Navigating government benefit programs like Medicaid and Medicare can be overwhelming for seniors. Elder law attorneys assist clients in:- Understanding and establishing their eligibility for these programs;
- Applying for benefits, such as preparing Medicaid applications (read Medicaid Application: Why You Should Entrust It to an Elder Law Attorney); and
- Planning how to protect their assets from being depleted by medical expenses (read Medicaid Trusts and Medicaid Planning: Protect Your Assets).
- Social Security and Retirement Benefits
Many seniors rely on Social Security and other retirement benefits for financial support. Elder law attorneys can help individuals maximize their benefits by ensuring they understand their entitlements and by providing guidance on when and how to claim Social Security benefits for the greatest long-term advantage. - Guardianship
When seniors become incapacitated and can no longer manage their affairs, a court may appoint a guardian to make decisions on their behalf. Elder law attorneys guide families through the legal process of establishing guardianship, ensuring that their loved ones are protected and that their best interests are considered. - Elder Abuse and Exploitation
Unfortunately, elder abuse and financial exploitation are growing concerns as the senior population increases. Elder law attorneys work to protect vulnerable seniors from abuse, whether it is physical, emotional, or financial. This includes pursuing legal action against abusers and helping to recover lost assets. - Special Needs Planning
Seniors with disabilities or those caring for loved ones with special needs require specific legal planning to ensure ongoing care. Elder law attorneys can help create special needs trusts and ensure that benefits are preserved without jeopardizing eligibility for government assistance programs.
Why Working with an Elder Law Attorney is Important
An elder law attorney does not work for the government, hospital, or nursing home. An elder law attorney works exclusively for you. Various agencies and organizations may seem to offer similar services for free or at a reduced cost, but beware, those organizations are not required to inform you of your rights and are prohibited from providing legal advice or implementing legal strategies. Their services are cheap because they benefit somebody else, and they may have no liability for failing to inform you of the consequences for failing to properly plan.
If you choose not to work with an elder law attorney:
- Your assets could be lost as a result of you receiving benefits, when they otherwise could have been protected;
- You may experience delays in receiving critical benefits, resulting in huge financial losses that could have been avoided;
- You may be subject to a penalty period, requiring you to private pay before you become eligible for benefits; and
- Whoever helped you may have no liability for not advising you of all your rights and options.
Only an elder law attorney has an ethical and professional obligation to act in their client’s best interests or risk losing their professional license. They also have the training, education, and experience necessary to help you navigate the complex federal and state laws that govern these programs with the goal of protecting and benefiting you.
Planning for the Golden Years
As we age, our legal and financial needs evolve, and addressing them proactively can make all the difference. At the Law Office of Daniel Khaldarov, I offer invaluable guidance to seniors and their families, helping them navigate the complexities of aging with confidence and peace of mind.
If you need assistance with any aspect of elder law, from estate planning to long-term care arrangements, feel free to reach out for a consultation. The right legal advice can make a significant difference in ensuring your golden years are truly golden.
