As people age their needs change, both in terms of medical care and in legal protection. Sadly, many families are caught off guard by the need for long-term care and other needs, resulting in people losing a lifetime of assets in a short time in order to pay medical bills and nursing home expenses.
By speaking to an attorney now about your potential needs, you may be able to ensure that you are financially prepared for the future and limit your out-of-pocket costs, allowing you to leave more of your hard-earned assets to your spouse, children and other beneficiaries.
Blish & Cavanagh, LLP: We Have Answers To Your Elder Law Questions
We cannot stress enough how important it is to have an estate plan to protect your assets and avoid complications for your loved ones. Our elder law practice goes beyond basic estate planning, focusing on health care-related issues, such as the need for long-term care in a nursing home or assisted living facility.
Medicaid planning is a crucial component of elder law, using trusts to protect assets while allowing the trust holder or spouse to qualify for Medicaid assistance. This can literally prevent an estate from going broke, with the average monthly cost of nursing home care nearly $7,000 according to the most recent statistics by the U.S. Department of Health and Human Services.
Living Wills And Health Care Powers Of Attorney
We can also help you establish a health care power of attorney, a durable power of attorney and/or a living will, providing you with peace of mind that you will be in good hands should you be incapacitated.
Estate Tax Issues
The estate tax can be a beast looming over your estate, waiting to feast on what you have worked so hard to accumulate throughout your working years. We can guide you on your options for minimizing estate taxes while experiencing the full benefits of trusts.
Learn More About Your Options. Contact Blish & Cavanagh, LLP.
Contact our firm in Providence, Rhode Island, to learn more about your elder law options. If you are unable to come to us, our lawyers can make arrangements to come to you.