A Massachusetts estate planning attorney that is knowledgeable in elder law can assist in all legal and financial issues pertaining to your parents’ needs.
The Sandwich Generation
Millions of Americans are facing an unprecedented situation in having to deal with the needs of their parents, their children and their own retirement all at the same time. The increased life expectancy of the current senior population has created what many demographers and planners refer to as the “sandwich generation.”
A number of new laws and regulations have come into effect over the past few decades in recognition of these new demographics. Many of these laws pertain to the care of those over 65 years of age and create the special area of legal practice called elder law.
Working with a Massachusetts estate planning lawyer who is knowledgeable in elder law is an important resource to adequately deal with your parent’s financial, legal and medical needs. There are significant issues that require attention to ensure that the most effective and efficient approaches to dealing with each of these key areas are utilized. The failure to exercise the proper diligence can cost tens of thousands of dollars and create serious legal consequences.
Maintaining a Difficult Balancing Act
Those children that find themselves caring for elderly parents often face a number of difficult decisions in a variety of areas. These individuals are called on to balance their love and concern with practical issues that have serious consequences. Just a few examples of these include;
- If a parent can no longer drive safely, who takes the initiative in taking away the car keys? What are the legal liabilities if the parent is your responsibility and you fail to do so?
- What financial decisions are best if it comes to the time to place a parent in a long-term care facility? What advance planning is essential?
- When and how should legal guardianship of the parent(s) be sought?
A qualified and experienced Massachusetts estate planning attorney fully understands the impact of elder law on these areas of concern. They will be able to provide important information and guidance on these and many other issues, and with those insights, you will be well-prepared to face these challenges.