Seeking Legal Advice for Your Parents Going into Assisted Living
Elder Law Attorney | You might be wondering if you need the help of an elder law attorney when dealing with your aging parents. If your parents are getting ready to enter in to an assisted living facility, the help of an attorney could give you piece of mind and ensure you are properly managing the situation.
If you do not have a durable power of attorney, or have previously filed one incorrectly, you will need the help of an elder law attorney to help put one in place. This will allow you to make decisions on behalf of your parent in the case that they are no longer able to make their own health or financial decisions.
Additionally, when parents are getting ready to enter in to a care facility, the question of what to do with the real estate or home that they own. Depending on how long they own it, and if it’s been paid off, there are a few options. Consulting with an elder law attorney will educate you on the tax benefits or penalties with selling the family home. Keeping or selling the home could present Medicaid issues that affects eligibility.
Lastly, if your parents have liquid assets over $100,000, it’s important to speak with an elder law attorney that can advise you on how to manage this money with a parent in assisted living. Protecting the assets or converting from countable to non-countable assets can help you and your family as you prepare for the future.
If your parents are preparing to go in to assisted living, speak with an attorney that cares. The Law Office of Michelangelo Mortellaro can help you along the way, no matter what stage of the estate planning process you’re at. Contact us today for a free consultation!