Financial and legal planning is essential to preparing for the later years of life in Texas. One important step in this process is meeting with an elder law attorney, who can provide guidance and advice on various issues related to aging and long-term care.
Preserving assets in the long run
An elder law attorney can help with financial planning by providing advice on retirement savings and investment strategies, as well as helping to create a plan for managing and preserving assets. They can also advise on government benefit programs such as Medicaid and Social Security and help navigate the complex rules and regulations surrounding these programs.
When meeting with an elder law attorney, it is recommended that you bring the following documents:
- A copy of the individual’s current will
- A list of the individual’s assets and debts
- Information about the individual’s income and expenses
- A copy of the individual’s advance medical directive or living will
- Insurance coverage, including health, life and long-term care insurance
- Information about any government benefits the individual is receiving, such as Social Security or Medicare
- Documents related to the individual’s power of attorney or guardianship, if applicable
- Any other relevant documents or information that the attorney may request
It’s important to note that these documents may vary depending on the individual’s situation and the specific issues the attorney will address.
Legal planning, wills and trusts
Elder law attorneys can also assist with legal planning, including the creation of documents such as wills, trusts and powers of attorney. This is especially important for those nearing the end of their lives, as it ensures that their wishes are followed and that their assets are distributed accordingly.
Proven guidance in these matters
Meeting with an elder law attorney can be a valuable step in the financial and legal planning process for older adults and their families. They can provide guidance and advice on a wide range of issues and help to ensure that the aging process is as smooth and stress-free financially as possible.
