Age-related issues in estate planning
Elder Law is a practice area that helps Seniors address age-related issues in estate planning. It also addresses estate planning for those with a disability. In this area of practice, Sheri Tucker works with Seniors and their families in a range of issues that affect their care, finances, and their estate plans. Your Estate Ally helps families find critical legal solutions for long-term care planning, estate planning, powers of attorney, and special needs planning. Estate Planning may include Asset Protection for VA benefits and Medicaid plans. Areas addressed include the following:
Two types of Medicaid Planning exists. First there is Medicaid Pre-Planning, which is a 5-year plan for the “look-back” period to qualify for Medicaid. Second, there is Medicaid Crisis Planning. Crisis planning means a family member needs immediate long-term care. The attorney provides the family with different strategies to navigate the complex process for a Medicaid crisis plan.
Veteran PlanningIf a loved one served in the military, he or she may have access to a range of veterans’ benefits but needs a Veteran Asset Protection Trust (VAPT) to help qualify for benefits. There are times a Veteran may also need to qualify for future Medicaid. Veteran Asset Protection is a 3-year Pre-Plan for a penalty period “look-back.” There are solutions to immediate veteran benefit qualifications. There are solutions to immediate veteran benefit qualifications. Qualifying for Veteran benefits and Medicaid is a two-step process that involves different solutions in estate planning.
Powers of Attorney
In Elder Law, enhanced powers of attorney are important. Seniors and people with disabilities need enhanced powers of attorney. Boiler-plate powers of attorney do not adequately address elder law issues in estate planning. Care is needed to make sure Seniors choose a trusted fiduciary to help in case of a future diagnosis of dementia or Alzheimer’s.
Special Needs Trusts are for seniors under 65 and people with disabilities. If you have a child with a disability, are an adult with a disability or you receive government benefits, consider a consultation. More information is provided for at the following: Special Needs Trust