Elder Law Firm in Jenkintown, PA
Getting older means making changes, and one of those changes should be the way you think about the future. By taking certain steps now, you can help your family navigate complex end-of-life decisions in the future. If you pass away or become incapacitated, they will have many legal requirements to grapple with, and if you take the time to make your wishes known now, while you are healthy and able to do so, you can ensure this process goes smoothly.
At Yorkway Law Group, we help residents of Jenkintown, PA, and surrounding areas tackle a range of complex legal issues. Here are some of the legal considerations you may want to discuss with our team:
The Importance of a Will
Throughout your life, you have been a provider for the people you care about. Writing a will now ensure you can continue to provide for them no matter what happens to you. Not only does a will control the disposition of your assets after you pass away, but it can also designate who will care for your children if the need arises. Learn about the nuances of wills by clicking this link.
A Living Will Gives You Control
Modern medical science has allowed us to extend life even in cases of severe injury or illness. While some people would want doctors to do everything possible to keep them alive, others may not want to extend their suffering. Your living will is a legal document that will make your wishes known about this matter. With your living will in place, doctors will know exactly what types of treatments they can provide when you are in the end stages of a terminal illness or have life-threatening injuries. Find out more about living will here.
Powers of Attorney in Jenkintown, PA
When you grant a power of attorney, you can choose the person who will be empowered to make medical and financial decisions for you if you become incapacitated, whether mentally or physically. If you do not designate someone to hold your power of attorney, the courts will appoint someone. This is a crucial decision, and if you don’t want the courts to make it for you, speaking to an elder law lawyer about powers of attorney should be a top priority.
Types of Trusts
Setting up a trust offers many advantages for your loved ones after you pass away. Not only can they avoid unnecessary taxation on their inheritance, but they can also protect their assets when they are gone. There are many types of trusts you may want to consider, so click the link to find out more.
Medicaid (Asset Protection) Planning in Jenkintown, PA
The costs associated with receiving skilled care in a nursing facility can quickly drain your savings, leaving you with nothing to pass on to your loved ones. While most health insurance plans and Medicare offer only limited coverage for this type of care, Medicaid can cover your skilled care costs. Unfortunately, qualifying for Medicaid requires you to spend down a significant portion of your assets. An elder law attorney can help you with Medicaid Planning and develop an asset spend-down strategy that works for you and your family.
Under a guardianship arrangement, another person can make decisions for you if you are physically or mentally incapacitated. Without a power of attorney in place, the courts will appoint this person for you, and you will lose the right to act on your behalf. Wouldn’t you rather choose your guardian? When you speak to an elder law attorney about guardianship arrangements, you can designate someone to be your guardian now, while you are healthy enough to do so.
Probate and Estate Administration in Jenkintown, PA
When your will is executed, your beneficiaries may have to go through the probate process to prove that it is valid. This process can be complicated and fraught with pitfalls. In addition, if you are the executor of an estate, you will have the responsibility to execute the will once it is proven valid. The probate and estate administration attorneys at Yorkway Law Group can assist you in both of these situations.
Plan Your Estate Now
If you have been putting off your estate planning in Jenkintown, now is the time to get started. You can protect the financial security of your loved ones and make life easier for them if you should pass away or become incapacitated. It may not be pleasant to think about, but an accident or illness could leave you unable to work or even take care of yourself; sometimes your life can change in the blink of an eye. Don’t leave your loved ones’ future at risk; start your estate planning in Jenkintown today. Get in touch with the team at Yorkway Law Group right away. We can give you advice about a range of elder law topics, including wills, powers of attorney, Medicaid asset protection, or anything else related to your estate planning in Jenkintown.
At Yorkway Law Group, our attorneys are dedicated to helping residents of Jenkintown, PA, and surrounding areas make a plan for the future. Our team can help make things easier for you and your loved ones if you pass away or become incapacitated. Get in touch with us for more information about any of the following elder law topics:
- Living Wills
- Powers of Attorney
- Medicaid Asset Protection Planning
- Estate Administration
- Nursing Home and Long-Term Care Matters
We have multiple law offices in communities near you. If you live in Jenkintown, PA visit our contact page today to set up an appointment.