Planning Your Estate with an Elder Law Lawyer
Everyone thinks about their future at some point in time. They may think about the legacy they’ll leave behind for their family and friends, and they might think about how their children and grandchildren will remember them. Unfortunately, we worry about our future as much as we think about our future.
If you want to care for your family, it’s a smart decision to get in touch with an elder law lawyer. Elder lawyers have valuable experience with estate planning, and when you reach out to a qualified attorney, they can help you ensure the best future possible for your loved ones – even after your death.
As an elder law lawyer, wills and trusts are very important – but that’s not all an elder law lawyer can do. Read on to learn a little more about powers of attorney and guardianship, and why your elder law lawyer can provide valuable peace of mind.
Understanding Durable Power of Attorney
“Power of attorney” gets thrown around a lot when you’re trying to plan out your estate, but what does it mean? At its simplest, power of attorney means an individual (aside from yourself) is authorized to act on your behalf. Your lawyer can walk you through the process of granting a trusted person power of attorney, and it’s an important conversation to have if your family has a history of mental health issues that become prevalent with age.
There are two types of powers of attorney. An ordinary power of attorney expires if you become mentally unfit, but a durable power of attorney remains in effect if you’re incapacitated or no longer able to care for yourself. Even if your family doesn’t have a history of health issues such as Alzheimer’s or dementia, a durable power of attorney can ensure your wishes are carried out in the event of a serious accident.
A durable power of attorney ensures you are looked after, and your instructions are carried out by a trusted individual in the event of your incapacitation. But what happens to the people you care for if you are no longer able to care for yourself? Fortunately, an elder law lawyer can help you plan for guardianship, as well.
With power of attorney, you’re granting someone legal permission to act on your behalf. With guardianship, you’re granting someone legal permission to care for people that you would normally care for if you were able to do so. This applies to elderly relatives, children, and other relatives with disabilities.
Nobody really exists in a vacuum. Everyone is looking out for someone else, and everyone needs someone to look out for themselves when they aren’t able to. If you grant an individual guardianship of the person, they will be responsible for providing care for your dependent. This means food, shelter, clothing, and everything else that comes with responsibilities of care. On the other hand, you could grant someone guardianship of the estate, which grants them responsibility for finances.
Get in Touch with an Elder Law Lawyer Today
Elder law is a broad field, and it’s difficult to understand how to best plan out your future without an experienced legal team at your back. If you want to keep your family and friends looked after – even when you aren’t around to do so – get in touch with an elder law lawyer today.