Why Should I Meet With a Certified Elder Law Attorney (CELA)?

I often hear “I don’t know why I’m coming to see an elder law attorney, I just know I was told I really need to.” So, why should you meet with a Certified Elder Law Attorney (CELA)?

To review your estate plan

Your estate planning should change as you age. I often describe estate planning as the foundation of elder law. Without the proper foundation it is hard to achieve the goals my clients often have. For instance, if your power of attorney does not explicitly authorize the agent to create a qualified income trust you may face a barrier to Medicaid eligibility later. The trouble is that provision is not included in most powers of attorney. Even if you have existing estate planning documents, it is likely that those documents should be updated to include elder law specific provisions as you age.

You need to understand your estate planning documents and how they will work after your incapacity and death. I also frequently see clients who are surprised to learn how their estate planning documents really work. It’s not uncommon to have documents that were prepared many years ago that no longer serve the client’s current needs. For example, our estate tax laws have dramatically changed over the past 25 years (especially this year). A client who needed high net worth planning 25 years ago may not need such planning now. In fact, leaving that planning in place could create a more costly and burdensome outcome.

Sometimes clients are surprised to learn some of the provisions included, or provisions that are not included, in their estate plan. It is important to understand the ins and outs of your plan while you are able to make adjustments as needed. You may find your current plan does exactly what you think it does and reflects your current wishes. You may also find that your plan needs to be updated to do work in the way that you intend.

To plan for incapacity

As life expectancy increases so does the incidence of cognitive decline, which means more people are facing incapacity. Do you have a clear plan in place if you are incapacity? Traditional estate planning has focused on planning for your death. The reality is the events that happen during incapacity can decimate an estate plan if proper incapacity planning is not in place. A CELA can help ensure that you have a strong plan in place for incapacity.

To plan for long-term care needs

Do you have a plan to pay for long-term care? Whether you have a long-term care insurance policy you want to understand better or if you have no plan in place, a CELA can help guide you through available options. In particular, a CELA can help you make a plan to access available public benefits. While Medicaid is rarely a plan A, many people are surprised to learn that they may be eligible for benefits much sooner than they thought.

To learn about resources you may not know about

You don’t know what you don’t know: Certified Elder Law Attorneys bring a wealth of knowledge and resources to the table. Clients often have questions about funding long-term care either by utilizing available public benefits or with long-term care insurance, social security planning, Medicare benefits, and much more. CELAs are able to not only advise clients on these unique issues that they face as they age, but they are also able to connect clients with resources to serve these needs.

Whether you are starting to think about retirement or facing long-term care needs, a CELA can help with the issues you are facing. The best time to address elder law and estate planning is before a crisis happens. Schedule a consultation today with Ruth-Ann to create a clear, proactive plan in place before deadlines or unexpected events take that choice away.