Many people hear the phrase “elder law” and may not know exactly what it means. The field of elder law addresses myriad issues such as financial planning, estate planning, and health care decision making.
In terms of health care decision making, you should consider planning for your own incapacity and deciding what decisions you would want made and who you want to make them. Your wishes can be given effect through documents such as health care proxies and living wills. In a health care proxy, you choose someone to stand in your shoes to make decisions for you if you are not able to do so for yourself. The proxy’s role is to make health care decisions consistent with your personal beliefs. A living will sets forth the types of decisions you would want your health care proxy to make, and can provide guidance regarding your desires and beliefs for that proxy or others providing care for you.
Payments for health care by Medicare and Medicaid are also considered in elder law planning. Medicare is a government program of health coverage for those 65 and older. Medicaid is government program of needs based health coverage based upon strict financial criteria with income and resource limits. Our elder law attorneys can assist in the preparation of Medicaid applications and providing advice regarding the eligibility standards for Medicaid.
Elder law planning also includes many other estate planning techniques, such as the use of powers of attorney, last wills and testaments, and trusts. A power of attorney allows you to appoint someone to act in your place with regard to financial matters. A last will and testament is a document which allows you to decide how your property will be divided after your death. Trusts are used for many different planning purposes such as avoidance of probate, avoidance of estate tax, Medicaid eligibility, or general estate planning.
If you need assistance with Elder Law issues, our experienced attorneys are ready to help you. Our Elder Law attorneys are well versed in the use of all the necessary planning documents and offer a compassionate, knowledgeable, and superior level of personal service. If you need advice about Elder Law, please call O’Connell and Aronowitz today at (518) 462-5601.
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Our Trust and Estate lawyers work throughout the capital region to help individuals and families protect their assets and prepare for the future. With offices in Albany and Saratoga Springs, our location allows our attorneys easy access to all areas of the state.
Our Trust and Estate law practice serves several counties throughout upstate New York including Albany, Columbia, Greene, Saratoga, Schenectady, Rensselaer, Warren and Washington Counties. Our attorneys can help provide peace of mind by developing a personalized plan just for you.
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