When You Should Hire an Elder Law Attorney
Are you an older American experiencing issues during the estate planning process? This is one instance in which you should strongly consider hiring an elder law attorney in Denver, CO.
An elder law attorney can lend a hand to those dealing with estate planning problems by walking them through the process. They can put you in a much better place as you prepare to enter your golden years.
But this isn’t the only time you might wonder, “When should I hire an elder law attorney?” There are also other times when calling on an elder law attorney will make a lot of sense. Learn about them below.
You’re Having a Hard Time Applying for Medicare
If you’re 65 or older — or if you’re under 65 and suffer from certain health conditions — you should qualify for Medicare. You can apply for Medicare online when the time comes.
However, there is a chance that your initial Medicare application will be denied. In some cases, a Medicare application may be denied because of felony convictions on the applicant’s criminal record. In others, simple clerical errors are to blame for Medicare application denials.
Ideally, you won’t encounter issues like this when you sign up for Medicare. But if your Medicare application is denied, you can reach out to an elder law attorney for assistance.
Better yet, you might consider hiring an elder law attorney from the start to help with every aspect of the Medicare application process. They can help you:
- Collect the necessary documentation
- Fill out a Medicare application properly
- Meet the deadlines for Medicare applications
An elder law attorney can also help with Medicaid planning.
You’re Beginning To Look Into Long-Term Care Options
U.S. Department of Health and Human Services research has revealed that about 70% of Americans who are 65 years old today will require long-term care at some point. The average American will need about three years of long-term care.
Despite these statistics, studies have also shown that nearly 60% of American adults haven’t shared their long-term care preferences with their loved ones. Failure to consider these options could put your family in a tough spot.
This is another time when the answer to the question, “When should I hire an elder law attorney?” is “now.”
An elder law attorney can speak with you about the financial, legal, and medical decisions you’ll need to make when it comes to long-term care. They can also help you begin making these decisions in advance so your family isn’t left to make them without your input later.
You’re Invested in the Idea of Creating a Power of Attorney
There may come a point when you’re unfortunately no longer able to make key decisions related to your health, finances, and more. Would you like to appoint someone to make these decisions on your behalf?
According to a 2020 survey, almost half of American adults 55 or older worry about who might make decisions for them in the future. Yet, about two-thirds of this group admitted they lacked a power of attorney.
A power of attorney is a legal document that gives another person legal permission to act on your behalf. You can appoint a loved one to make medical decisions or financial choices based on the information you provide for them today.
Establishing a power of attorney can provide peace of mind. Let an elder law attorney help you discover more about what a power of attorney is.
You’re Struggling With Asset Management
The average net worth for Americans between the ages of 65 and 74 is just under $1.8 million. If you’re sitting on a nest egg worth anywhere close to this, congratulations. You’ve set yourself up to enjoy the best years of your life.
But you may find that managing your assets as you age is tricky. This is a time when you may wonder, “When should I hire an elder law attorney?”
You might decide to sell the house you’ve lived in for 40 years and collect a large sum for it. You may also choose to give away money you’ve saved to your children so they can purchase their own homes or to your grandchildren so they can attend college without racking up debt.
You’re welcome to take these steps, but they can cause complications. You might, for example, need to set up a better financial structure for your assets to ensure they last. You may also need to tinker with your will to keep it current.An elder law attorney can help you with asset protection and keep your finances in good order from now on.
You’re Interested in Establishing a Guardianship and Conservatorship for an Elderly Loved One
You don’t necessarily need to be an older American to ask, “When should I hire an elder law attorney?” Some people who are still on the younger side can also consider taking advantage of the legal assistance an elder law attorney can provide.
If, for instance, you have an elderly loved one who can no longer care for themselves, you may want to explore the idea of establishing a guardianship and conservatorship. As the guardian and conservator for your elderly loved one, you can legally help them with tasks like:
- Managing their finances
- Applying for benefits available to older Americans
- Hiring caregivers
Establishing guardianship for an elderly loved one is a strategy that some families use in elder abuse prevention. Just make sure you select the right guardian for them.
Call Our Elder Law Attorneys Today To Learn More
“When should I hire an elder law attorney?” is a question that has many answers. As you’ve seen here, you can rely on an elder law attorney to assist you in many different scenarios, and we have more than four decades of experience to show for it.
Whether you need help applying for Medicare or you would like to create a power of attorney,Thomas N. Scheffel & Associates, P.C. is here for you. Call us at 303-759-5937 to find out how we can assist you.