In most families, there are certain professional resources that have served multiple generations. For example, you may have a long-term dentist that your children went to when they were very young. Years later, the dentist’s office may actually provide dental care for your grandchildren. This is a phenomenon that can definitely enter the picture when it comes to a relationship with an inheritance planning attorney. Plus, there are actually tangible benefits that can be added to the trust factor. We will take a look at some of the details here.
The First Step
If you decide that it is time to put an estate plan in place, and you have never been referred to a family inheritance planning attorney by your parents, you have a big decision to make. One thing to look for when you are looking for the right lawyer would be affiliations with highly regarded entities within the estate planning and elder law arena.
The American Academy of Estate Planning Attorneys was established over 25 years ago and the organization has become synonymous with integrity and a high level of legal acumen. Our firm has been a member of the Academy for many years so our attorneys always have access to this think tank of peers to stay up to date when it comes to changing estate planning laws and current strategies.
Once you have worked with an estate planning law firm to put your first estate plan in place, your attorney will have a thorough understanding of the nature of your family and your financial situation. You have choices when it comes to asset transfer devices, and your attorney will explain these so you can make fully informed decisions.
Estate Administration
Executing the right inheritance planning documents to express your wishes will be part of the equation, but you have to be concerned about the things that will happen after you are gone.
If you use a will, it will pass through the legal process of probate while will require certain actions. Trust administration can also be complicated for the uninitiated.
To provide continuity for your loved ones, you could engage our firm to help during the estate administration process, regardless of the overall nature of your strategy. When the time comes, your family and/or your estate representative could contact us, and we will be there to provide the appropriate assistance.
Elder Law & Medicaid Planning
A very high percentage of senior citizens will eventually need nursing home care, and Medicare will not pick up the tab. Medicaid will pay for a stay in one of these facilities, but there are low income and asset limits that govern eligibility. In many instances, adult children will have to try to help a parent qualify for Medicaid to pay for long-term care.
This is another area where multi-generational communication is key. When you engage our firm as a family, we can put a completely holistic plan in place that provides optimal protection.
Since the relationship will build over the years with the involvement of the second-generation, it is logical to continue it over the long haul. When you get ready, your family’s attorney will be very well-positioned to help you put your plan in place as a legal professional that has known you for years.
Attend a Free Seminar!
Our Huntersville inheritance planning attorney is holding a number of seminars in the near future, and we urge you to attend the session that fits into your schedule. There is no admission charge, and you can get all the details if you visit our estate planning and elder law seminar page.
John’s practice focuses on the use of Wills and Living Trusts in Estate Planning to help individuals protect their families and preserve their legacies after their deaths, but his practice also focuses on the critical issues of protecting individuals with dementia or other diminished capacity, assisting individuals in qualifying for Medicaid and other government benefits to offset the costs of long-term care, and providing special needs planning.
John is admitted to practice law in North Carolina, South Carolina, Kentucky, and Ohio, and he is accredited by the Department of Veterans Affairs.
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