Elder Care Asset Protection Explained

As people age, they usually are in need of specialized legal services called elder care. These are attorneys that have completed special training that helps them understand the legal matters that affect the elderly or disabled. They won’t be experts in divorces, car accidents, or corporate law, but will have a firm understanding of wills, probate, senior care, Social Security, pensions, long-term care, and estate planning. One particularly important area is elder care asset protection since many older people have accumulated wealth and property. Let’s take a look at some of the aspects of caring for the elderly, you may also check this on facebook.com.

If You Don’t Have A Will You Might Be Surprised At Who Gets Your Estate

To really know all of the different aspects of inheritance, you would have to study some law yourself. However, there are many nuances that can be surprising when it comes to the protection of assets. There are so many variables that even lawyers will disagree but the one thing that is very clear is that having a well-written will is the best place to start. That alone will help the court and judges know your intent and wish for your property and assets.

The problem that seems to arise in many cases is there are almost always certain family members that think they’re entitled to something they’re not. They’ll rush in and take aggressive action and only someone with money or legal knowledge will be able to stop them. When there are valuable assets at stake there will always be people trying to get a piece of that pie. A detailed will written by an attorney, notarized and safely kept will go along ways towards stopping any aggressive action by an unscrupulous relative. It’s not always family members that you have to worry about either. There are plenty of cases where an attending nurse or health care provider has weaseled an inheritance out of their client in a weak moment.

Another Problem With Elder Care Asset Protection Is Con Men

There are a certain group of con men that specialize in separating the elderly from their money and assets. They are experts at making people feel they’re entitled to whatever they can steal and they’re good at it. There are plenty of documented cases where assets are siphoned off little by little until there is nothing left after death and the family is surprised.

A good elder care asset protection attorney can put a lot of assets out of reach so they can’t be accessed or controlled by anyone not authorized. This may be pensions, loans, real estate, bank accounts, cars, jewelry, or antiques, anything of value that a thief would desire. These items can be stored in locked storage with only special people having access or their titles can be put under court protection. That would make them have to go through an attorney in order to change possession.

Having a good elder care attorney, one that specializes in that area of law, can help in much more ways than you can imagine. If you know of a loved one that needs that type of representation you should help them find a competent local attorney to get them started writing a will, planning for long-term care, and eventually protection of their assets when the time comes.