Elder Law Attorney Near Me Kane County IL – Law Offices of Anthony R. Scifo – Free Consultation – Call 847-628-8311
Elder law attorneys serve as advocates for the best interests of elderly people and their families. At our law firm, we handle a range of legal matters that can impact older or disabled people like health care and long term health care plans, retirement, legal guardianship, social security, Medicare and Medicaid.
In some aspects, the practice of elder law is specialized because it focuses on the distinct needs of older people. Those areas are often different and more specific than those of younger people. An Elder Law Attorney Near Me Kane County IL advises on financial and estate planning issues for their clients, in addition to practical matters that affect the care of seniors like assisted living and life planning. Generally, elder law attorneys have expertise in managing the sometimes sensitive emotional and physical requirements of seniors or the disabled.
Just some of the issues that an Elder Law Attorney Near Me Kane County IL can provide expert advice include:
-Review the significance and role of wills and smart estate planning. This can include plans regarding care for a minor or care for an adult who has special needs.
-Create power of attorney.
-Provide assistance with health care long term care options, patient’s rights, Medicare and the issue of health care power of attorney.
-Financial representation for planning – including durable financial power of attorney – housing, income, estate planning and gift tax issues.
-Guardianship, including assistance with the choosing and naming of legal guardianship.
-Assistance with locating a long term care facility and managing the cost of assisted living.
-Explanation of nursing home resident’s rights and help with filing nursing home claims.
-Drafting a living will or advance directives such as power of attorney and long range planning documentation.
Elder Law Attorney Near Me Kane County IL – Power of Attorney for Financial Matters
Having power of attorney for an elderly relative basically means that you can manage their financial affairs. For example, complications can arise if other relatives object to the decisions you make. Disputes over fiscal matters can sometimes lead to audits or leave you exposed to liability. But applying power of attorney doesn’t have to be risky. With the help of your Elder Law Attorney Near Me Kane County IL, you’ll gain an understanding of your legal obligations and take basic steps to have the right documentation of your actions.
It is important to keep resources separate and well-organized. If you combine power of attorney funds with your personal finances it can become confusing which expenses are yours and which are related to the beneficiary.
To help steer clear of this potential problem, consider opening a bank account in your elderly relative’s name. With a separate account to handle their financial matters, it is much easier to monitor bill payments and other activity. It is essential to maintain your power of attorney funds separate from your personal funds in the event there are questions regarding your management down the road. It can be an unpleasant experience to account for expenses related to power of attorney after the fact.
Bank practices may vary, but it is generally advisable to put the account in the name of the individual over which you have power of attorney. This keeps all matters separate, but you’ll still have control over the account. It will also be beneficial when tax season comes around and save you from hassles later on if the Internal Revenue Service ever contests your power of attorney status. While your bank’s policies may be different, usually you can sign checks in your elderly relative’s name as long you include the term “power of attorney” and also sign your own name.
Handling an estate under power of attorney entails some complex practical matters. To avoid any legal conflicts, it is important to assure that all of your actions are fully appropriate. If you have any questions about power of attorney or other related matters, call our firm for a free and confidential consultation.
Elder Law Attorney Near Me Kane County IL – Guardianship, Conservatorship, Advance Directives and Living Wills
Elder Law Attorney Near Me Kane County IL frequently involves matters of guardianship because incapacitation due to illness most often afflicts the elderly. Courts in Illinois are frequently called on to name a guardian for an incapacitated or disabled individual. This entails a legal procedure in which a court determines whether to declare a guardian to manage the affairs of the incapacitated elderly person. This usually includes providing for the person’s fundamental needs, making medical decisions and handling their financial affairs. A conservatorship is similar to a guardianship but it is usually restricted to management of financial affairs only.
Is your estate plan up-to-date? An Elder Law Attorney Near Me Kane County IL can help update your existing estate plan or create a new one for you. Estate planning is essential for ensuring that distribution of your assets goes according to your wishes after you die.
Some of the key benefits to sound estate planning include:
-Control of your finances. With a sound estate plan that starts with a will at the minimum, you’ll know that at least your assets will have protection and that your wishes will be followed. A will allows you to make plans for distributing your property and assets after your passing and to name your beneficiaries.
-Safeguard your privacy. Some people are not aware that a will is actually a public document that has to be probated in a court room. In some cases we may suggest that our clients create a revocable living trust. This helpful estate planning tool takes over ownership of your assets and property but still permits you to keep managing your financial affairs in your lifetime. Also, this kind of trust allows you to plan for incapacitation and to avoid the delay and expense of probate after you die. Basically, a trust is a private document that doesn’t get filed in a probate court.
-Planning for incapacity. People tend to live longer these days, but many also experience some form of disability in their elder years. A good estate plan includes a power of attorney for healthcare, which means that you can name a dependable person to make decisions relating to your healthcare in the event you cannot communicate on your own behalf. This also permits you to name someone to manage your financial affairs in the event you suffer incapacition.
Talk with an Elder Law Attorney Near Me Kane County IL about Estate Planning – Call our Law Offices at 847-628-8311
-Protects your family business. If you’re a small business owner, you know how much hard work it takes to succeed. With that in mind, an estate plan is necessary for protecting your business partners and family members from the impact of your death. Specifically, it is important to select an individual who will assume leadership of your business.
These are just a few key reasons to create an estate plan. By using the services of our experienced law firm, you can shield your assets, provide for your family, and relieve them of the burden of making these tough decisions.
Count on our firm for all your estate planning and elder law needs. Speak to an Elder Law Attorney Near Me Kane County IL at 847-628-8311.