When should I hire an elder law attorney?

You should consult with an elder law attorney if you want to plan ahead for your own needs as you age, such as putting in place powers of attorney and advance directives in the event you become unable to manage your own affairs. An elder law attorney can also help when an older family member becomes legally incapacitated, needs to enter a nursing home on an urgent basis, or has been the victim of elder abuse or financial exploitation.

What does an elder law attorney do?

An elder law attorney focuses on areas of the law that affect older people, such as estate planning, long-term care planning, Medicaid planning, and guardianship and conservatorship.

Should I create a will or trust?

Whether you need a will or a trust (or both) depends on your circumstances. If you want to avoid probate, a trust will achieve that, but a will does not. If you are leaving property to minor children, a trust allows you to appoint someone to manage their inherited assets until they are adults and mature enough to do so. There are many different types of trusts for specific purposes such as tax planning or special needs planning. While trusts do have many advantages, not everyone needs one, so consult with an estate planning attorney about what’s right for you.

Who needs to create an estate plan?

All adults need an estate plan, regardless of the size of their estate or their family relationships. Even young adults without many assets need, at a minimum, powers of attorney and advance directives to allow a trusted person to make decisions for them in case they become incapacitated. Of course, it’s also important for families with young children and people with significant assets or complicated family relationships to have an estate plan.

How much does estate planning cost?

As you can imagine, the cost of estate planning depends on a number of factors, including the complexity of the assets in the estate. In general, though, will-based estate plans are less expensive than trust-based plans. At Beaton & Kiers, we use the initial consultation to evaluate your unique needs, after which we can quote you a flat fee for your planning so you’ll have certainty about your legal costs. Estate planning is an investment, but most people are pleasantly surprised to learn how reasonable a customized estate plan is.