Long Island Elder Law Attorney
Protecting Your Family, Assets, and Future
Preparing for your own future is an important aspect of
estate planning. While it can be a difficult subject to address, it is crucial that you
make provisions for yourself and your family should you or your spouse
become unable to make these decisions or even to care for yourselves at
home. Medicaid planning is one of the main focuses of elder law. Other
sensitive aspects of elder law include financial planning, making healthcare
choosing a guardian for yourself should you become incompetent or incapacitated.
Financial Matters for the Elderly
There are many estate planning tools available to enable you to plan for
your financial future. If you are 65 years of age or older, it may be
particularly beneficial to have a will. Having a will allows you to distribute
your property to your future heirs as well as appoint an executor to
administer the estate. Trusts are also excellent estate planning devices that enable you to
pass down property to heirs either while you are living or in the future.
One of the most important aspects of financial planning is designating
a Power of Attorney, which will allow another individual to make financial
decisions for you. There are three different types of powers of attorney
- "Nondurable" Power of Attorney: used for specific transactions
- "Durable" Power of Attorney: may be effective immediately and
is used until you revoke it or pass away
- "Springing" Power of Attorney: takes effect when you are deemed
no longer competent to handle your affairs
If you would like to receive more advice and guidance concerning estate
planning tools, a Long Island elder law attorney at the Law Offices of
Steven M. Adler, PLLC would love to assist you today!
The Importance of Advance Directives
Using Advance Directives, including powers-of-attorneys, health care proxies
and living wills, our legal team can help you create a plan that ensures
you receive the best possible care should you no longer be able to make
decisions. The state of New York allows you to appoint another individual
to serve as your agent and make healthcare choices on your behalf, if
necessary, through Health Care Proxy Law. In your health care proxy you
can determine how you would like your agent to act on your behalf and
you can give them as much or as little control as you would like. A living
will also allows you to specify what kind of medical treatments you would
like should you be unable to provide instructions at the time the decision
must be made.
Medicaid is a government program that provides funding for medical and
health related services for people with low income and resources. In order
to qualify for Medicaid you must meet certain income and resource requirements
based on your marital status, age and disability status. We can help you
qualify for Medicaid for home care and for nursing home care through careful
elder law planning. The "lookback" period for transfers of assets
in the state of New York for Medicaid is 60 months, so you should start
planning to qualify for Medicaid as early as possible.
Seek Assistance from the Law Offices of Steven M. Adler, PLLC
Elder law matters can be complicated and, if incorrectly completed, can
lead to serious negative consequences and even criminal penalties, which
is why you should obtain the guidance of a knowledgeable attorney. The
Long Island estate planning lawyer at the Law Offices of Steven M. Adler,
PLLC can assist you with all areas of elder law to ensure your rights
and interests are protected. We are a boutique firm that handles each
case personally, instead of passing it off to paralegals or legal secretaries. With
over 25 years of experience in elder law, estate planning, and probate matters, you can trust that we will provide
the excellent legal counsel you need and deserve.
Contact a Long Island elder law attorney from our team to discuss your unique circumstances!