Ageing is inevitable, and after having worked hard for decades, you deserve to live an independent life with dignity. For the unversed, elder law is a specialized area of law that focuses on seniors. Starting with financial planning to offering legal solutions for immediate concerns of seniors, it covers everything. If you are wondering whether you need a Cherry Hill NJ elder law attorney, we have stated a few reasons to consider.
- Estate Planning: No one wants to think about death, but it is important to consider what would happen after you are gone. No matter the wealth you have amassed over the years, you need to have an estate plan in place. There are elder lawyers who can guide you on wills, trusts, and other estate planning documents, such as powers of attorneys. They can also explain your rights and how you can protect the interests of your loved ones.
- Business succession planning: If you own a business, you need to prepare for the future because there will be a point when you wouldn’t be able to care for the organization as before. Would you want to transfer the business to a partner? Would you want your children to acquire it? Or is it better to sell it off? When it comes to business succession planning, you need an estate planning lawyer.
- Medicaid Planning: Many seniors take long-term care for granted, often not realizing that the cost of care has increased manifold in the last decade. If you need future nursing care or home care, you need to focus on Medicaid/long-term care planning. An estate planning attorney can guide you on how to protect assets and get the care you deserve.
- Adult Guardianships: If there comes the point when you cannot make decisions regarding your legal and financial matters, you will need someone to do that for you. If you have chosen an adult guardian, they will do your work in case you cannot do so. There’s no denying that adult guardianships are extraordinarily complicated and would require the expertise of a lawyer.
- Probate and Estate Administration: Another big reason to engage an attorney is to seek help through the probate process, which is complicated in NJ. If you can plan early, your family doesn’t need to go through the probate process.
When it comes to legal guidance and seeking advice on key estate planning matters, hire a reliable lawyer.