However, it’s vital to do so. According to the U.S. Department of Health and Human Services, 70 percent of people over 65 will need some type of institutional care, and that care won’t come cheap. The average cost of a nursing home tops $50,000 per year, and assisted living facilities cost about $3,000 per month.

For many, the cost of long-term care can deplete your assets and any property you had hoped to leave to family members. Plan now so you can protect your estate.

1. Consider long-term care insurance
Many long-term care insurance plans pay not only for care in a nursing home, but also for care at home or in an assisted living facility. The plans can be expensive for many seniors, but the premiums will be lower the earlier you purchase coverage. There’s a lot of variability among long-term care policies, so be sure to explore all your options and get expert advice before selecting a carrier.

2. Identify a healthcare and durable power of attorney
Have an attorney draw up a durable power of attorney and one for healthcare. These documents identify the person(s) who will make decisions on your behalf if you are incapacitated or become unable to manage your affairs.

3. Learn how to protect your assets
The majority of people who need nursing home care rely on Medicaid to foot the bill. However, this option means you’ll have to spend your existing assets on your care first before Medicaid begins paying. An experienced elder care attorney can help you protect your assets by developing an estate plan. If you wait until you’re in a nursing home, it’s probably too late.

Thanks to changes in healthcare on both state and federal levels, the field of medicine is constantly changing, making it difficult for the average person to keep up with the latest policies. These policies affect private health insurance programs, Medicaid, Medicare and veterans’ benefits, making it essential that you have a trusted person who can give you the correct information that you need to know. While the future of the healthcare system is uncertain, like potential spending cuts in government programs that many seniors rely upon, it’s important to have someone on your side to guide you through the maze of regulations.

Although you can’t predict the future, your Massachusetts estate planning attorney can help you make plans for the future so that your wishes are met every step of the way. They can help you decide on potential options such as whether you’d prefer in-home care by private caregivers or if living in a residential facility is better for your needs.

Your elder lawyer can also help you make important decisions related to your healthcare, and draw up the proper documents such as a power of attorney and advance directives, to ensure that you’re well taken care of. Making these decisions now allows your loved ones to focus on spending quality time with you, and without heavy burdens weighing on their minds.

For assistance with your estate planning, or to find out how a Massachusetts elder attorney can help you, contact us today!

By hiring a Massachusetts elder law attorney, you can avoid some of the common pitfalls that cause people’s estates to nearly vanish into thin air:

Document Wording and Proofreading- It doesn’t take long for an estate lawyer to draw up a will that uses legally accurate terms, is error-free and will stand up in court. They can point out errors in wording or figures, which would have helped to poor person who left $200.000, instead of $200,000, to her sister!

Witnesses and Signatures- With a DIY will created on the internet, there’s thepossibility that it’s validity is challenged since witnesses may not have been presentwhen it was signed. Also, the court could question whether the signatures are real or not.

Tax Advantages- Intuitive as it is, a piece of computer software can’t understand all the complexities of the financial and tax laws in the United States. A professional estate planning attorney can help you understand the best ways in which you can leave your money to your heirs without them incurring hefty fees and taxes.

Many people avoid hiring a Massachusetts estate planning lawyer because they believe they won’t reap the benefits. But it’s far better to spend the money now and protect your assets so that your heirs get all of your assets, and without unnecessary complication. Contact us today for help with your estate planning needs.

Contact your Massachusetts Estate Planning Lawyer for more information.

The year 2012 ended with many Americans wondering how their estate plans might change when the “Bush Era Tax Cuts” expired at midnight December 31. Fortunately a quick act of Congress, otherwise known as the The American Taxpayer Relief Act, was put into effect in the pre-dawn hours of January 1, 2013. While not all of the old laws remained in effect, as your Massachusetts elder lawyer will tell you, there was good news for seniors and their estate plans.

• Start by choosing who you want to receive certain items and monetary inheritances. It is important that the people you wish to include are included in your estate plan. Be sure to specify when and how they should receive their inheritance, whether it is monetary or a tangible item.
• Keep in mind what personal property items might have sentimental value to specific heirs. You will want to outline everything as explicitly as possible. Once you or your loved one has passed away, the only binding document that will be left is the will.
• Make sure you have selected a trustee who is responsible, honest and trustworthy. This will be the person who helps to distribute the estate to the rightful heirs. You will want to select a person who you know personally, and who you can trust will be objective when it comes to dealing with all of the heirs involved.

Your personal Massachusetts estate planning lawyer can help you maneuver through this difficult process, but these three basic tips will help you get started. When you come to your first planning meeting prepared, you will find that the process of dividing your assets and planning your estate will be much less cumbersome. It is important that involved parties such as living spouses attend these meetings as well, so that everyone is on the same page and is prepared when the time comes.

Yes, Alzheimer’s Disease is a horrible medical condition, one that you never want to see any family member suffer through. But the reality is that it’s a real condition and there’s only one real long-term outcome from people that are diagnosed with it.

That’s where we come in. We understand how difficult it can be to see a parent or elder family member worsen as the disease runs its course. And that’s why it’s a good idea to plan wills and estates with your loved ones while they’re still in the early stages of the disease. Here’s a closer look at why it’s a good idea to begin planning sooner:

• Planning in the early stages of Alzheimer’s still allows your loved one to be involved in the process, thereby permitting your loved one to weigh in one future health care decisions as well as finances and real estate decisions.
• It allows the loved one to sign a power of attorney, thereby giving legal power to someone other than themselves when Alzheimer’s Disease worsens.
• You and your family member are both able to meet with an elder attorney, have your questions answered and be advised by a professional, so that you both can rest assured that things are in good hands. Taking action early can help avoid a lot of confusion, stress and frustration later on as the Alzheimer’s condition worsens.

While it’s never fun to have to think about things like wills, power of attorney and estate planning, taking action and planning ahead is a crucial step toward avoiding problems down the road.

Cost: This is perhaps the most important item on the list. Make sure you have a break-down of all the costs associated with the nursing home, to include the room or apartment, meals and any other costs your loved one will incur.

Amenities: Find out what amenities are available at nursing homes in the area, and compare. A home may cost a little bit more but have activities and other things that will make your parent happier.

Aide Ratio: The aide to patient ratio at a nursing home is important. If there aren’t enough aides to handle the patient load, your parent may not have the best care and will be unhappy. Make sure there is enough staff to care for patients’ needs.

Security: Ensure that your parent’s belongings will be secure. As well, make sure that your parent will be secure and feel safe at all times. Open rooms with access to any member of the public or other residents can be scary.

Discharges: Find out what the nursing home’s discharge policy is. When can you have your parent discharged, and what paperwork needs to be completed? Can your parent sign their own discharge paperwork and leave at will? This is a huge safety issue and must be handled properly.

Visiting: What is the nursing home’s policy on visiting hours? Do they have a liberal window for you to come see your parent?

Reviews: Check out reviews and complaints that have been filed with governing boards and the Better Business Bureau in your area. Choose a nursing home that is rated highly.

Make sure you choose a nursing home wisely – it is stressful enough to put a parent into a nursing home, but even worse to have to move them to another facility later. And while cost is important, never sacrifice your parent’s happiness for the sake of sheer finances.

A living will gives people the opportunity to record their desires about medical care if they become incapacitated due to illness or injury. The document becomes their voice and ensures personal wishes are known when they can no longer speak for themselves. It is important to record these wishes before mental acuity starts failing.

The first step is to write down instructions for family and medical providers. Then consult a professional attorney with elder law experience. A legal expert can help you put the information in a legally binding document that the courts will recognize as valid.

In order to protect your rights, consulting with a Massachusetts estate planning attorney is advisable. Massachusetts is one of only three states that do not have specific living will legislation. However, the court may still consider the contents if a lawsuit is filed regarding medical treatment.

Today is a good day to start the conversation. Contact the law offices of Adam Tobin, Elder Law Attorney, for more information about living wills and elder law matters.

Introduction of New Probate Terms – For instance, the person who is in charge of overseeing the probate process for the estate is no longer called an executor but instead a personal representative.

New, Informal Probate Process – This new probate law allows an executor (personal representative) to be appointed in as few as seven days.

Intestacy Laws – When someone dies without a will, the old laws gave half the estate to the children and half to a surviving spouse. Now if the surviving spouse is the parent to the children, he or she gets 100% of the estate.

Exempt Property – There is a new concept of exempt property, which is not part of the claims of creditors. Certain family members are entitled to receive this property and a family allowance. A Massachusetts probate lawyer can help you figure out the eligibility requirements.

Time Limit Shortened – The time limit for probating a will is shortened from 50 years to 3 years. This is important as it can cause a will to more quickly move into Intestacy, even if there is an executor declared.

Planning for Your Life

Seek the services of a living trust attorney to help you set up a trust to take care of your finances now. All your financial obligations will be handled, and you will have money to enjoy and spend without worrying about tomorrow. Be sure to factor in your living expenses, and expenses you will have after you pass, such as funeral expenses and other obligations.

Wills and Trusts

Seek the services of an estate planning attorney, such as the Law offices of Adam Tobin, to set up a living will and trusts to manage your funds while you are alive. This will also allow you to take care of your loved ones after you pass away. You might also wish to seek the services of a probate lawyer to head off any problems that may arise.