Elder Law Attorneys Serving Beavercreek, Ohio
According to seniorcare.com, about 14 percent of those living in Beavercreek, OH are senior citizens. Further about 69 percent of those turning 65 this year will need long-term care—but only about half that many think they will ever need long-term care. Because planning for long-term care or our death is not something we like to think about, having an experienced Beavercreek elder law attorney to guide you through the process can be an invaluable resource.
Seniors in Beavercreek, OH may currently be living the good life, enjoying their retirement, perhaps taking trips, or visiting grown children and grandchildren. Beavercreek is a picturesque area that is among the most desirable locations in the Dayton area for its outstanding quality of life. Planning for the future does nothing to change that. On the contrary, you will likely be very surprised at how you feel once you have taken the necessary steps to plan ahead.
At Lovett & House, we never want you to think of elder law and estate planning as simply planning for your death because it is so much more. While no one wants to think of being in long-term care, isn’t it better to plan for something that might not happen than to not plan for something that does happen? What you do not want is to leave your loved ones struggling to determine what steps you would have wanted them to take. At Lovett & House, we will guide you through every step of the process, making sure all your bases are covered.
Why You Should Choose Lovett & House for All Your Elder Law Needs
We know you have many choices when choosing an elder law attorney. We hope you will choose Lovett & House as your Beavercreek elder law attorney because we believe we truly are the best choice. We can answer all the questions that are keeping you up at night, then deal with those issues taking them off your worry list altogether. This allows you to move forward with your life unfettered by worry about the future. Just a few reasons you should choose Lovett & House:
- We have more than 100 positive Google Reviews.
- We offer a free 5-minute phone appointment that fits into your busy schedule.
- As a Board-Certified Specialist by the Ohio State Bar Association, Attorney George Lovett can ensure your planning for the future suits your unique needs.
- Our decades of experience allow us to comprehensively answer all your questions and address any concerns you might have.
How is Elder Law Different?
Elder law is a subspecialty of estate planning. Elder law attorneys practice estate planning law but specialize in helping seniors and their families plan for retiree benefits, healthcare, long-term care, home care, nursing home care, and Medicaid and Medicare coverage. Elder law attorneys provide legal guidance for seniors for all these issues and more. Typically, an elder law attorney really gets to know their clients as they must spend plenty of time learning about the clients’ needs and goals. Most people that are age 60 or older could likely benefit from speaking to an elder law attorney, starting the planning process. The longer you put off planning, the more likely you will find your money is unprotected in the event you or your spouse must go into long-term care. In some cases, individuals may lose their capacity to properly plan due to health issues.
Does Elder Estate Planning Take a Significant Amount of Preparation?
The answer to this question depends entirely on how complex your estate is and what your goals for the future are. At Lovett & House, we will want to know whether you receive VA benefits, whether you have a supplemental insurance policy, how long you plan on working, when you will start receiving Social Security, who you want to leave your assets to, and even whether you want to leave access to your online accounts and social media to a friend or family member.
Once we know about you and your family, we can begin helping you plan for the future. If you want to avoid probate and estate taxes, we may suggest that you have a Living Trust set up. We will help you plan for unexpected incapacitation, as well as for a long, healthy life. In other words, the goal is to plan for all eventualities so your family is not left struggling to determine what you would have wanted them to do.
How Can I Protect My Assets in the Event I Need Long-Term Care?
There are few people that can self-pay for long-term care, as it can be from $55,000-$100,000 per year. Because of this, it is important that you begin planning for long-term care well in advance of when you might potentially need it. Medicaid has a five-year look-back period that must be taken into consideration.
For this reason, it could be beneficial to create a Medicaid Asset Protection Trust or MAPT. A MAPT holds assets for the benefit of your beneficiaries, and if your home or other assets are transferred to a MAPT at least five years prior to your application for Medicaid, these assets would be protected from nursing home costs and permit Medicaid eligibility. There are downsides to using a MAPT to protect your assets, such as loss of control over the assets (normally a son or daughter would control the assets as Trustee) and the trust would be irrevocable. You could also purchase long-term care insurance, although the cost is prohibitive for many. Your elder law attorney from Lovett & House can help you protect your assets in the best way possible, finding solutions that fit your unique situation.
How a Beavercreek Elder Law Attorney from Lovett & House Can Help
At Lovett & House, we help you and your loved ones plan for the future, including the possibility of long-term care. If you are just now facing a permanent nursing home situation, or considering assisted living, we can help you accomplish those things in the best way, while protecting your assets to the extent possible. Our goal will be to help you retain your hard-earned dollars, rather than spending what you have worked a lifetime for on nursing home care. Do not face the future on your own—contact an experienced elder law attorney at Lovett & House, LPA today.
