Peace of Mind Starts Here
Written By: Rachael Rode
Summary: Ever wondered about the difference between planning your estate and planning for your later years? It’s a common question! Imagine you’re looking for guidance on how to navigate the complexities of long-term care or need help understanding Medicaid’s rules – that’s where an elder law attorney shines, going beyond typical estate planning. They’re like a friendly guide, helping families protect their loved ones and their assets while ensuring a comfortable and secure future.
Elder Law is the area of law that focuses on the issues facing the aging population, and an elder law attorney specializes in helping seniors and their families navigate the complex legal issues associated with aging. However, it is much bigger than that. Are you in your early thirties, just had a child, and want to make sure that you have designated someone to care for your child if something were to happen to you? An estate planning and elder law attorney can help with that. Are you in your fifties, the kids are all grown, and you are planning for retirement? An elder law attorney can help put a plan together to help you avoid probate and make the generational transfers of wealth occur smoothly after you pass. Are you in your seventies and worried about how to pay for your long-term care needs? An elder law attorney can help you protect your assets during your lifetime and get you eligible for Medicaid. Do you have an aging parent who suffers from dementia and failed to name a power of attorney before they became incapacitated? An elder law attorney can help you navigate the court process known as guardianship so that you can provide the necessary care for your loved one. Have you recently lost a loved one after a hard-fought battle with cancer and now you aren’t real sure how to handle their assets? An elder law attorney can determine whether a filing in the probate court would be necessary and assist you in navigating that legal process.
WHAT MAKES US DIFFERENT
Estate planning and elder law attorneys are a dime a dozen; I’m sure you all know someone who prepares Wills and Powers of Attorney, so what makes Indiana Estate and Elder Law different? We are people first and attorneys second. By conducting ourselves as people first, our clients can see and feel the difference. We take the time to get to know our clients from the very beginning, which allows us to put together the best plan possible that meets their needs and fits with their goals. Here at Indiana Estate and Elder Law, we take a wholistic approach to the area of elder law.
The differences continue in the types of plans we put together for our clients. When clients create a trust, it is imperative that the clients transfer ownership of their assets into the trust. Otherwise, the trust is not worth the paper on which it is written. This process of transferring ownership of assets is known as funding. At IEEL we take funding so seriously that we fund the trust for you. We are with you through every step of the process.
When people create irrevocable trusts with other firms, they give up ownership and control of their assets. They are no longer in the driver’s seat, and they forfeit the right to make any decisions about how the funds in their trust are managed. That is not the case when they work with us. They retain the ability to steer the direction of their assets even while they are in an irrevocable trust.
Finally, the way we charge for legal work is a bit different than most firms. A number of firms charge by the hour, so every phone call, every email, every meeting with your attorney or their team generates a bill. This can get incredibly pricey very quickly. It also prevents open communication between the clients and the attorney. If a client is constantly worried about getting a bill for their phone calls or emails, they may not provide all the information the attorney needs to accomplish the client’s goals. At IEEL we charge a flat fee. This fee includes all the meetings needed to create a plan to meet their needs, any follow-up emails or phone calls or communication with the whole team. As a result, clients are not afraid to tell us their whole story, what their desired goals are, and they are comfortable knowing they won’t get nickeled and dimed for every little thing.
If you would like the opportunity to come and talk with one of us, feel free to give us a call or complete this form.