I prefer the term “Life Law” to “Elder Law”, because one need not be elderly for this area of law. In fact, it’s better to plan ahead – WAY ahead – for challenges you and your family might face. Here are just a few things we all need to think about, no matter how old or young we are:
- Serious medical issues (Who do you want making medical decisions on your behalf? What kinds of decisions do you want them to make? What kinds of instructions would you like to give to medical personnel?)
- Financial concerns (Is there a possibility you’ll need Medicaid to help pay for nursing home coverage? Are you aware of what property you can keep? What property can’t you keep – and when you have to dispose of it?)
- Financial planning (If you were unable to make financial decisions, who would you want making them for you? Who would you want to be able to pay your bills? How much power are you willing to give to that person?)
- The inevitable: we all have to die sometime. What do you want to happen when it’s your turn? (If you have children, either young or dependent on you, what provisions would you like to make for them? Who would you like to get your financial assets? Property assets? Household items? Do you want investigate whether your heirs can avoid probate? Have you considered “payable on death” provisions? Do you need a will? A trust?)
I’d like to have a no-obligation conversation with you about these matters, and give you a questionnaire that may help your to clarify your thoughts on the difficult topics.