Alzheimer's and Dementia, Elder Law, estate planning, Financial Planning
Estate Planning Problems
By elder law estate planning attorney Rick Law. Managing partner at the Estate Planning Center at Law Elder Law in the West Chicagoland suburb of Aurora, Illinois in Kane County. Issues of representation can be murky in Alzheimer’s cases. It is almost inevitable that the medical interests of the individual with disabilities and the financial interests of the heirs will conflict because the more money spent on caretaking, the less there will be to inherit. An objective third party, such as an experienced estate planning attorney, can always be appointed guardian to avoid family conflict. When planning, consider hiring professional care managers. Care managers, such as nurses, social workers, and licensed clinical counselors, are licensed clinical professionals, usually with advanced degrees, with extensive knowledge of health care, aging, and different issues that affect people with disabilities. They understand the health-care system and they know the right people to contact for specialized services. Some of the issues that are the most difficult arise when there are multiple marriages and multiple sets of children. There is often a pre-existing conflict in those sets of children, and your lawyer needs to have great caution in counseling and representing them. When dealing with large families and there are multiple adult children with multiple views about what a parent needs, the children need to pick a spokesperson. The children need to have all their arguments with themselves, and the spokesperson is the only person that may speak with the lawyer. This strategy forces the family into a situation where they have to come to a consensus, and it can reduce fees, which diminish the estate of the ward. If you’re ready to start getting your estate in order and secure your assets for the “worst-case” scenario, please give our office a call at 800-310-3100. Your first consultation is absolutely free. We’ll let you know what steps you need to take, right now, to protect yourself and your family. Call now. Sincerely, Rick L. Law, Attorney, Estate Planner for Retirees. Rick was named the #1 Illinois elder law estate planning attorney by Leading Lawyer Magazine. He has been quoted in the Wall Street Journal, AARP Magazine, TheStreet.com, and numerous newspapers and articles. Rick is the lead attorney for Law Elder Law, LLP, focusing in Estate Planning, Guardianship, and Nursing Home Solutions. His goal is to give retirees an informed edge when it comes to dealing with an uncertain future. Get flexible retirement strategies that work during good times and bad, plus information on how you can save your home and assets from being used to pay for long term care. Call 800-310-3100 for your free consultation now!