What Elder Law is not – Elder Law is not “estate planning for old people.”
Deirdre R. Wheatley-Liss, Crystal West Edwards and Ryann Siclari are Certified Elder Law Attorneys (CELA) by the American Bar Association- accredited National Elder Law Foundation. Less than 75 attorneys in New Jersey have this designation. Pursuit of a CELA designation reflects their commitment to empowering families to use the law to their advantage to maximize their wealth.
The costs of long-term care are astronomical. In New Jersey, the average cost of an assisted living facility is 00 – 45 a month. Think you’ll get savings with a home health aide? That average cost is $4385 – $5243 a month. Looking at a nursing home? The average cost of a private room is $11,102 – $11,199 per month.1
Even when a family is set for a comfortable retirement, paying month after month of long-term care costs can wipe out a family’s wealth and savings. Even scarier, what happens when these costs are for one spouse? How is the other spouse supposed to live independently?
Money isn’t the only issue. As people age, they may need help living independently and with decision-making. Who will do that? Who will help with visits to the doctor, writing out checks, deal with 18 inches of snow, or a broken water heater?
If a person does get sick, what does Medicare, Medicaid, or other insurance pay for? How do you know if it’s “best” for someone to live at home versus in an assisted living facility? How do you apply for government benefits you may be entitled to, like Medicaid and Veteran Benefits?
What happens if someone moves into an assisted living facility and then runs out of money? What happens if mom gives the house to one child who is “supposed to take care of her” and then doesn’t? What happens if a nephew takes advantage of his uncle, and now the uncle has no money left?
Elder Law is devising a unique plan which considers a person’s assets, income, physical condition, mental condition, current and desired living arrangements, and the availability of government benefits to minimize the drag long-term care costs have on a person’s wealth and maximize their security.
When working with us on your Elder Law issues, we:
Against the backdrop of a health care situation you never wanted to find yourself in, we empower you to make the best decisions for you and your family with the assets you have.
Many families have limited experience working with Us. Learn more about our Who We Are and What We Do.
Porzio’s Wealth Preservation attorneys serve New Jersey families with offices in Morristown NJ, Princeton NJ, and New York City. We provide legal counsel on Estate Planning, Elder Law, Asset Protection Planning, Special Needs Planning, Wills and Trusts, Powers of Attorney, Health Care Powers, Living Wills, Probate, Estate Administration, Estate and Trust Litigation, Guardianship, and Tax Planning to families in Bergen County, Essex County, Hudson County, Hunterdon County, Mercer County, Middlesex County, Monmouth County, Passaic County, Somerset County, Sussex County, Union County and Warren County.
1.Genworth Cost of Care Survey 2018
* Certified as an Elder Law Attorney by the American Bar Association accredited National Elder Law Foundation. The National Elder Law Foundation is not affiliated with any governmental authority. Certification is not a requirement for the practice of law in the State of New York and does not necessarily indicate greater competence than other attorneys experienced in this field of law.
