Worcester elder law attorneys can provide help to protect your assets and to prepare for your future. Our firm can assist you in understanding the risks to your wealth and in taking steps to minimize and mitigate those risks. We can also help you to plan ahead in case you get sick or in case you pass away unexpectedly and want to provide protections for your family.
Many of your plans for asset protection, incapacity and end-of-life issues must be made long before the time when something actually goes wrong in order for those plans to be effective. This is why it is so important not to wait to get help from Worcester elder law attorneys.
The Law Offices of James A. Miller, P.C. will assist you with addressing the issues that matter. Give us a call today to find out how our firm can help you. You should also consider some of the key reasons why you shouldn’t wait to get the proper legal help in order to better understand why you shouldn’t wait to reach out to an attorney for personalized advice.
Waiting too Long Could Mean You Cannot Protect Assets
One of many services that an elder law attorney provides is assistance identifying risks to your wealth and taking steps to protect your assets. To protect your wealth, you often have to take action long before the time when there is a threat to your financial security. For example, one of the biggest risks many people face as they get older is that they will require long term care, which is very expensive to pay for.
Medicaid could cover long term care costs, but it will only pay for nursing home care or other care services in situations where you can qualify for the program because you have limited means. If you own too many assets, you could be forced to spend down your wealth. However, if you can work with an experienced attorney to make a Medicaid plan at least five years before the time when you need care, you can generally qualify for Medicaid coverage without having to lose your life savings.
The Law Offices of James A. Miller, P.C. can assist you in using the legal tools that you need to protect your wealth in case you require nursing home care, but if you wait too long to make your Medicaid plan, you may not be able to protect all of the assets that you otherwise could have kept safe.
Incapacity or Death Could Happen at any Time
Elder law attorneys also help you to use legal tools like a power of attorney, living trusts, and advanced directives to plan ahead in case of incapacity. If you have not made an incapacity plan, you could find yourself in a situation where you become sick or hurt and it is too late to control what kinds of medical care you receive and what kinds of decisions are made on your behalf.
You could put your family in a difficult situation where your loved ones are forced to go to court to secure guardianship or are forced to make life-and-death decisions about approving or withholding life-saving medical care. You don’t want to force your family to make choices about your life without your input and you don’t want the court putting someone who you wouldn’t have chosen in charge of your assets. Unfortunately, if you’ve waited to make your plans, it could be too late for you to do anything to control your destiny in case of incapacity.
Waiting too long could also mean you’re without an estate plan if you pass away. This could mean that heirs or beneficiaries end up fighting over assets and, if you have a larger estate, estate tax could substantially reduce the assets that you are able to pass on. You need to make an estate plan even if you are young and healthy, because no one knows what the future will bring.
Getting Help from Worcester Elder Law Attorneys
Worcester elder law attorneys at The Law Offices of James A. Miller, P.C. can provide the help that you need to protect your assets and to plan ahead in case of incapacity. We also help to ensure your family is provided for if you pass away. To find out more about the services that we offer, join us for a free seminar. You can also give us a call at 866-370-3888 or contact us online today to talk with an attorney about the steps you should take to make your personalized plans.
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