Woods Elder Law - Shelby Township, MI
Michigan Elder Law Attorney
Veteran's Law Attorney
At Woods Elder Law, we council clients on veterans benefits and planning for the elder years, which is known as life planning. Many of our clients will have an increased need for medical, nursing, or attendant care services in the immediate future, for either themselves, a spouse, or parent. We also have clients that plan for the future, and want to put in place a strategy that will outline their financial stability and legal authorizations, so that their wishes will be prominent. Many of our new clients are surprised to learn that their existing estate plans are limited to the avoidance of Michigan probate, and may only hinder their needs and wishes for life planning. Others unknowingly possess inadequate or often voided Designation of Patient Advocates or Power of Attorneys.
Trusted Michigan Asset Preservation
Life expectancies of Americans continue to increase, and so has the need for advanced medical care and advanced estate planning. The importance of medical and financial planning is at the forefront of our society, as many of our seniors are faced with catastrophic medical events in their golden years. The decisions our families must face on behalf of their loved ones is becoming more and more complex. Elder care, or life care and estate planning, is a balance of not only the goals of the family unit, but also of the laws surrounding inheritance, longer term care medical assistance (Medicaid), minimization of taxes (Internal Revenue Code), and an overall strategy of providing for dependents and keeping the integrity of anticipated inherited assets (such as the family cottage).
Long Term Planning and Elder Law Answers
Our priority is to educate and arm our clients with the information and legal advice they need to tackle the never-ending web of obstacles that are often encountered by families throughout the duration of their lives. We pride ourselves in being your counsel for life. Ideally, planning for long-term care and the disposition of an estate occurs before the need arises. However, the majority of our clients come to us when a loved one is already in the hospital or nursing home. Using Michigan elder law there are strategies that can be accomplished whatever the situation may be. Assets and income of the family unit are looked at by the Department of Human Services when payment for Long Term Care (nursing home) placement is necessary. Hiding assets at this juncture is not an option; a very specific and personalized plan must be set into motion to ensure that spousal impoverishment, or unnecessary “spenddowns”, do not occur. With the care plan in place, we can then work with care providers to conserve assets to the extent possible, while seeking the best care in the most suitable environment. We seek to provide peace of mind for our clients.
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