FREQUENTLY ASKED QUESTIONS

Frequently Asked Questions About Life in Retirement

How can I protect my assets from long term care expenses?

You can ensure your assets are protected by setting up trusts, which can be easily done when you have a knowledgeable expert to guide you in the process.

 

I don’t want to become a burden and I want to remain independent as long as possible. How can I do that?

Make sure your legal documents are in order, and you have made arrangements to cover long term care expenses.

I am concerned that my parents have not given me legal authority to make decisions and their health is starting to deteriorate. What do I do?

Get them to meet with an elder law attorney like us. They will listen to a professional in a way they won’t listen to their own children.

I am veteran or a widow of a veteran who served in war time. Do I have a way to get additional government support?

You may qualify for a benefit called Aid and Attendance that pays for long term care expenses for veterans and widows of veterans who served during war time. We are able to help you find out if you qualify.

Is there a right time to start pre-retirement planning?

Ideally you want to start thinking about the planning stages in your early 50s, but anyone from the age of 50 to 65 would fall into this category.

How do I ensure that my assets will be protected from the government and other predators?

You can ensure your assets are protected by setting up trusts, which can be easily done when you have a knowledgeable expert to guide you in the process.

I want to make sure my spouse is provided for but also that my children receive assets, how do I do that?

We can create a trust for your spouse to pay income for life, and have the ability to spend principal for health and support, but the assets remaining at the time of your spouse’s death will go to your children.

I don’t understand all these different type of legal documents or what I need.

You shouldn’t have to! This is why you need an expert who is willing to take the time to look closely at all areas of your life, to help you understand what will best serve your needs. It is important to us to take the time needed to understand our client’s needs and recommend the legal tools that will serve those needs. We take the time to explain all of our plans extensively so you have the peace of mind of knowing exactly what measures we are putting into place.

Frequently Asked Questions About Families in Transition

I’m in a new second marriage and should something happen to me I want to provide for my spouse, but also make sure that my children are provided for. How can I do this?

You can create a trust to provide income to your spouse for life, with the ability to spend principal if needed for health and support, but at your spouse’s death, the assets will go to your children.

 

I am divorced and I want to make sure that my children receive my assets should something happen to me, and not my ex spouse. How can I make sure that happens?

You can create a trust for your children, with a family member, friend, or professional as trustee. Your trust can say that no funds are to be paid to your ex, even if your ex has custody.

How can a trust really help me with my child who has special needs?

A person with special needs who is receiving government benefits, or who might be eligible in the future, will immediately lose those benefits if there is an inheritance. You can make sure your child still qualifies for government benefits by leaving the inheritance in a trust called a “special needs” or “supplemental needs trust.” Read more on how we can help you with a special needs trust here.

Are there ways to make sure that assets can be protected even if there are issues with a beneficiary such as mental health issues, addictions, estranged children, or even an impending divorce?

The way to protect assets for a beneficiary who has mental health issues or addictions is through a trust, with someone else managing the assets. If you are estranged from a child, and want to disinherit that child, it is important to avoid probate and pass your assets through a trust. If you are concerned that your child may divorce, and don’t want the ex in law to walk away with half of what you’ve left to your child, you can protect your child’s inheritance through a trust.