New York Senior Law / Elder Law Attorneys
New York Lawyers Helping Seniors Plan for Their Futures
For more than 25 years, the lawyers at Goldfarb Abrandt & Salzman LLP have helped older people and their families plan for the future. We are here to help you plan for the medical, financial, and legal situations you may face. We can draft standard estate documents for you and also help with planning for long-term care, asset transfers or disposition of major assets or businesses, and medical directives.
Many people think that only wealthy people need help with planning for the later years. This is not true, and in fact, families of modest means may have an even greater need for qualified legal advice. According to this chart, the cost of nursing home care in New York State can range from $320 to $429 per day. Without careful planning, your later years could come with tremendous financial burdens for both you and your family.
One of the best ways to plan for your future and protect your family is to seek legal advice from an experienced lawyer. The attorneys at Goldfarb Abrandt & Salzman LLP are here to help—call us at (212) 387-8400 or send us an email to get in touch.
New York Estate Planning Attorneys
A comprehensive estate plan is critical to securing your future and protecting your family. Your estate documents must comply with the complicated laws of the state that you reside in. Not only do you need an experienced attorney who understands the law, you also need someone who can help you think carefully about the issues you need to address. A good estate plan should deal with:
- Distribution of cash, investments, and personal property
- Payment of taxes and debts
- Protection of business interests or other sources of income
- Disposition of real estate
Each person’s estate and objectives are unique, so your estate plan will need to incorporate many other items. Our experienced attorneys can help you draft a simple will, update existing estate documents, or create sophisticated trust agreements.
What if You Become Disabled or Incapacitated?
No one likes to think about what may happen as they get older, but it’s necessary if we want to save our families from significant stress and financial difficulties.
Can your family take care of you if you become physically disabled? Even a minor loss of mobility can lead to additional, considerable unplanned expenses. You may need to remodel your home to provide wheelchair access. You may need special equipment, such as a wheelchair or stair lift. A more serious disability may require in-home care or a move into a long-term or nursing home facility. Not only will your day-to-day-life significantly change, you need to consider how it will affect your family.
Mental disabilities require additional consideration. Dementia and Alzheimer’s are the two most common concerns, but other neurological and psychiatric disabilities can also play a role. Give careful consideration to these events and whom you will authorize to make decisions on your behalf. This may include designating an agent under a power of attorney and health care proxy, and naming whom you would want to act if you should need a guardian.
End of Life Planning
End of life planning is just as important as planning the distribution of your property. You may have heard the terms “living will,” “advance directive,” or “health care proxy.” All of these terms address the same concern a legal document that expresses your wishes or appoints an agent when you are no longer able to speak for yourself. These documents can include instructions concerning your medical care and help guide choices for your doctor and your family concerning the end of your life. There are also documents to memorialize your preferences concerning your remains—burial versus cremation, and organ donation, for example.
End of life planning helps to remove any confusion or disagreement regarding your care when you can no longer make decisions. It also relieves your family of the stress of making these important decisions during a time of crisis of grief.
New York State Medicare and Medicaid Planning
Medicare and Medicaid both cover healthcare costs, so many people confuse the two programs. The differences between them require appropriate planning.
Medicare is an age and disability based federal health insurance program that can cover medical expenses and healthcare costs but does not cover long-term residence in a nursing home. Medicaid, on the other hand, employs strict eligibility requirements that vary by state. Because the program is designed to help low-income people cover medical expenses, if you have even modest assets, you may not automatically qualify for benefits.
Consequently, you may have to deplete your assets or your family may have to pay for any long-term care if you can’t qualify for Medicaid. However, with the proper planning, an experienced elder law attorney will understand your options and help with eligibility for benefits.
Estate and Trust Administration
In addition to providing you with a complete set of estate documents, our attorneys can provide legal advice to the administrators of your estate or trust. Administering an estate or trust can prove complicated and time-consuming, and family members are often not equipped to meet the challenges it presents without proper advice. Failing to properly administer an estate or trust can lead to many problems, and ultimately jeopardize your wishes. Our attorneys have the necessary experience to promptly guide the people who administer your estate and take care of your family.
Call a New York Senior Law Attorney Today
The attorneys at Goldfarb Abrandt & Salzman LLP have helped people secure their futures for more than 25 years. We understand the challenges you face and are committed to helping you face the future free of anxiety and stress. If you need help planning, updating your estate, or face other legal issues as you grow older, call us at (212) 387-8400 or send us an email via our online contact form.
