Yakima Elder Law Attorneys
As you grow older and approach retirement age, you will encounter a number of legal, financial, and health issues that might require some adjustments in your life. Together, these concepts comprise a body of law in Washington known as elder law. They could affect you personally, but elder law topics might enter the picture if you have concerns or want to support an aging loved one. Like many aspects of your life, proper planning can alleviate some of the challenges of elder law.
Elder law consists of a multitude of state and federal laws, regulations, and rules. The complexities are significant, so you should make it a priority to retain legal representation for assistance with your own or a loved one’s situation. Moulton Law Offices assists clients and their families with elder law matters and planning, easing the transition into a new era of life. Please contact us to schedule a case review with a Yakima elder law attorney, though some background is also useful.
Overview of Elder Law Concepts
A few of the topics that may affect your life as you or a loved one grows older are:
Medicaid covers long-term care, unlike Medicare. However, there are strict limits on net worth. Thinking ahead with Medicaid planning helps you take advantage of benefits while still preserving your assets.
It is important to consider incapacity planning, which enables you to make arrangements if you cannot make decisions regarding your health care or finances. A power of attorney or POA for health care are options, along with a living will / advance directive.
If you have not already, you should prepare a will. It is also an advantage to consider options for different types of trusts, including a revocable living trust that you manage during your lifetime.
Gifting is a way to spend down your estate during your lifetime, which is an effective strategy for minimizing estate tax when you pass.
How Our Firm Can Help
Moulton Law Offices is well-versed in all aspects of elder law, so we can counsel you in the above areas and many others. Our approach starts by learning all the details about your situation, so we can make recommendations for the current circumstances and the future. Our Washington elder law team will advise you on:
- Medicaid Asset Protection Trusts (MAPTs) as an option to qualify for long-term care;
- Preparing powers of attorney, which allow you to appoint an agent to manage your health care and financial decision making;
- Creating a last will and testament; and,
- Options for estate planning through trusts, which can help avoid probate, maintain privacy, minimize estate taxes, and achieve many other goals.
Get Legal Assistance from a Yakima Elder Law Attorney
You might not realize the various issues that impact your life as you grow older, which is why you should rely on our team at Moulton Law Offices for help with elder law issues. To learn how we support your family, please contact us today to set up a consultation at our Washington elder law firm.
