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It’s a common phrase — “Hope for the best, plan for the worst.” But planning for a future where someone may not be able to take care of themselves can be a distressing thought. However, this is precisely what individuals of all ages should do to feel confident about their future care and not put that stress on their loved ones who may need to make decisions without input.
Along with establishing a well-rounded estate plan, individuals and couples should consider potential elder law-related issues they may face such as nursing home costs, Medicare/Medicaid, and more. That’s where an experienced elder law attorney can help.
Elder Law Attorney Basics
Elder law attorneys are needed because the aging population is growing rapidly. According to the U.S. Census Bureau, by 2030, one in five Americans will be over 65. This demographic shift means that there will be more demand for elder law services.
An elder law attorney can help with a variety of legal issues, including:
- Medicare and Medicaid planning;
- Long term care planning; and,
- Estate planning.
While some may not be concerned about the above legal issues right now, it’s best always to be prepared should assistance be needed in the future.
Benefits of Having an Elder Law Attorney
There are many benefits to hiring an elder law attorney including having the experience to handle the legal issues listed above. A knowledgeable elder law attorney can help individuals understand their rights and responsibilities under long-term care programs and can advocate on someone’s behalf if any issues were to arise.
Many people are under the impression that health insurance will cover long-term care needs. However, this is typically not the case. While individuals can qualify for Medicare after turning 65, not everyone will be eligible for Medicaid. That’s why it’s essential to have a long-term care plan in place before needing potential custodial care.
Another advantage is an elder law attorney can help navigate the complex web of government laws and regulations related to aging. Wisconsin, in particular, has laws that differ from other states when it comes to long-term care. That’s why it’s essential to work with an established Wisconsin elder law attorney to ensure your specific needs are being appropriately handled.
An elder law attorney can also help individuals and couples plan for the future by creating an estate plan that is tailored to their unique needs. The elder law attorney can determine how to protect someone’s assets best and provide for their loved ones after they pass.
Who Needs an Elder Law Attorney?
Those who are over the age of 60, or if they have a loved one who is over the age of 60, should strongly consider hiring an elder law attorney to get affairs in order now. However, it’s never too early to start planning for the potential need for long-term care. Someone who is perfectly healthy could get involved in an accident that renders them disabled. These incidents happen without notice and can leave families scrambling to make legal and financial decisions. Individuals and families do not regret preparing for the worst as they can choose how they want to be cared for versus someone else pressured to make decisions should their loved one become incapacitated.
Contact the Elder Law Team at Krause Estate Planning
If you or a loved one is facing any legal issues related to aging, it is vital to seek out the advice of an experienced elder law attorney. The team at Krause Estate Planning can provide invaluable guidance and support during this challenging time. We are ready to talk with you about your wishes and address any concerns so you can feel confident about making informed decisions.
Our firm serves throughout Wisconsin, including Janesville, Madison, Middleton, Milwaukee, Oregon, Sun Prairie, Verona, and Waunakee. Contact us at (608) 344-5491 to schedule a consultation today.