Did you know that over 40% of people over age 65 in the United States will spend some time in a nursing home and/or need care at home? In many cases the action steps those approaching retirement try to take to minimize their risks can actually backfire.
Many people today are living well into their 70s, 80s, and even 90s. This means planning ahead for your future while being mindful of potential risks you could face during that time. Balancing the need to have sufficient assets to support yourself and also passing on wealth to your loved ones can be challenging without the right help.
In their nervousness about depleting an inheritance intended for children or grandchildren, or concerns about funding long term care, many senior citizens can take steps that could harm their futures. This is why it is important to work directly with an experienced Massachusetts elder law attorney to cover all of the bases.
From estate planning to tax planning and succession, Medicaid planning, conservatorship, leaving behind a charitable legacy, special needs trusts and more, all of these issues are covered by the umbrella of elder law planning. If you find yourself in the situation of having many questions about how to protect your assets and to provide for your loved ones after you pass away, consulting with a knowledgeable Massachusetts elder law attorney is an important first step.
Retaining a lawyer is instrumental and helping you to consider all of these issues and to ask the right questions to protect your interests. With so many different things to think about. It can be difficult to navigate this process on your own, contact Susana Lannik, Certified Elder Law Attorney with offices in Needham, MA and Mashpee, MA for support. We will help you create an elder law plan that protects your interests.