Sarasota Elder Law Attorneys
What is Elder Law?
Elder Law is an umbrella term used to describe the many kinds of legal issues commonly faced by the elderly or disabled.
Of course, the term “elderly” is a slippery slope – not too many Baby Boomers would think of themselves as elderly, and many Seniors don’t consider themselves elderly, either!
But, whatever the age of the client, the term Elder Law includes things such as guardianship, estate planning, probate, personal injury litigation, financial planning, age discrimination, insurance litigation, special needs planning, and long-term care planning (possibly including Medicaid or VA benefits).
Not every Sarasota Elder Law Attorney focuses on every area of the law – many focus on just one or two areas and use their professional network to assist their clients with other areas.
Long Term Care Planning
Long-term care doesn’t just happen to the old. Many young people also end up needing long-term care due to an accident, illness, or disability.
Long-term care includes medical care or personal assistance provided by a caretaker or facility for a period of time – weeks, months, or longer. The care may be given in your home, an assisted living facility, or in a nursing home.
And it’s expensive. Very expensive.
Here are some 2018 numbers* for Florida:
|Homemaker Services||Daily $125||Median Annual $45,646|
|Home Health Aide Services||Daily $129||Median Annual $46,904|
|Adult Day Health Care||Daily $68||Median Annual $17,550|
|Assisted Living Facility (1BR, single occ)||Monthly $3,500||Median Annual $42,000|
|Nursing Home (semi-private rm)||Monthly $8,152||Median Annual $97,820|
|Nursing Home (private rm)||Monthly $9,064||Median Annual $108,770|
People tend to assume their spouse or children will take care of them if long-term care becomes necessary. But spouses divorce or die, and children move away.
Some proactive folks buy long-term care insurance while they’re relatively young and it’s still affordable. But the cost of healthcare and long-term care continues to skyrocket, and even though a good long-term care insurance policy will certainly help, it likely won’t cover all your potential expenses.
So, you have to make up the difference.
Your Elder Lawyer, working with your financial advisor, can help you plan for the worst while hoping for the best.
Surviving or Divorced Spouse Planning
As a surviving or divorced spouse, you have special planning needs.
Your life has drastically changed. The plans you made before your spouse’s death or before your divorce may no longer appropriate.
Give us a call and we’ll sit down together and review your estate plan and, if necessary, update your estate planning documents. We’ll also work with your financial advisor and insurance agent to make sure your financial planning and insurance policies are still appropriate.
Perhaps you’ve been widowed or divorced for a while, and now you’re considering living with someone or getting married. But you want to make sure your assets will be there for you and your children in the event of death, divorce, or splitting up.
Contact us today to learn about some of the options that may be available to you – such as trusts, prenups, and cohabitation agreements. Or reserve a seat at an upcoming casual, fun, and informative workshop to lear more about estate planning, elder law, asset protection, probate, and Medicaid planning.