It is a significant step to meet the Attorney to know about the Elder law.
Looking at the benefits, your future self will thank you enough for doing so. Here is an elder law attorney in South Jersey you should consider if you are around this place.
Now that you have fixed your appointment with the Attorney, here are a few questions that might help you.
- Can I only go for Elder law? Or is it advisable to have separate Estate law?
Both Elder law and Estate law are different. And you should have a clear plan in your head if you want to divide your assets that fall under Estate law or to safeguard your rights as an elderly. Once this is clear, your Attorney will guide you around both the directions, and you can then decide which one you should go for.
- What age should I do an Elder law agreement?
There is no correct age for doing an Elder Law agreement but the early, the better.
The future is unpredictable, and you do not stay young forever. Many health issues crop up, and before you lose your sense, go ahead and discuss this with your Attorney.
- What preparation is required for this?
Provide the Attorney with the details, like if you have a life insurance policy and want to allot a nominee? How long do you plan to work? Are there any pets to take care of? Who should access your bank accounts if you are not in a position to do so? With these things clear in your mind, you will understand the exact process of implementing the Elder law.
- What to do in case you have a dependent child?
You should check with the attorney laws around asset protection if your child is dependent.
Do you want to have Power of Attorney until your child is an adult? If there is a disabled child, who should be the caregiver? How to do estate planning in such a case?
- Are there any taxes under this agreement, or do I get any tax benefits?
There are many situations in life where you have to travel around. If you have relocated to another state or country, there could be differences in the taxes.
However complicated it may seem, the process would be visibly easy if you had an experienced attorney in place.