elder law basics
DESCRIPTION
Know what is elder law in New York - what is an elder law, what are the issues elder law attorneys help their clients and their families plan for and deal with, and why it affects not just the elderly.TRANSCRIPT
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ELDER LAW BASICSCOMMON ISSUES, QUESTIONS AND ANSWERS
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ELDER LAW
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What does elder law cover?
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Elder law is not a single area of the law
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Rather, it’s a collection of issues that most commonly affect elderly
people and their families
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ESTATE PLANNING/ESTATE ADMINISTRATION
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What is an estate?1
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Your ESTATE is the property you leave behind after you die
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ESTATE PLANNING involves making choices about what you want to happen to that property
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while ESTATE ADMINISTRATION is the process of managing someone’s
estate after that person dies or becomes incapacitated
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ESTATE TAXES
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Do I need to worry about estate or inheritance taxes?2
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Probably not, but it’s possible
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You can structure your estate to minimize any potential tax
issues that might apply
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ELDER ABUSE
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Can I protect myself from someone who wants to take advantage of me
when I’m older?3
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YES
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You can develop a plan that will protect you and your interests
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You can also speak to an elder law attorney if you suspect that you
or a loved one has been victimized
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INCAPACITY PLANNING
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What happens if you become incapacitated?4
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An incapacity plan will address who manages your affairs when you’re not able to do so yourself
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It will also allow you to express your medical wishes
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OTHER ISSUES
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What else is covered under elder law?5
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Age discrimination lawsuits, Medicaid planning, Medicare issues, Veterans
benefits, retirement and long-term care planning, guardianships, and more are
all common elder law issues that people have to deal with
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ELDERLY AND NON-ELDERLY ALIKE
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Who should talk to an elder law attorney?6
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Any elderly person who has thought about the future but who hasn’t taken the time to talk to an elder law lawyer should do
so as soon as possible
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MANY ELDER LAW ISSUES ARE TIME-SENSITIVE, requiring you to act as soon as possible
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Anyone worried about an elderly family member’s health or legal well-being
should also take the time to talk to an ELDER LAW ATTORNEY