An Overland Park elder law attorney can help you plan for the future in ways you might not expect and these issues faced are not limited only to seniors. An experienced elder law attorney can help you achieve financial security, protect your assets, plan for end of life issues, and assist in preparation of your legacy for future generations after your death.
There are many life circumstances after which it becomes important to consult with an experienced elder law attorney. One of the most important times to meet with an elder law attorney comes after a divorce. Married couples enjoy many estate planning benefits. When a marriage ends, however, many benefits are lost and you should work with an experienced elder law attorney to ensure you have the right plan in place.
Parman & Easterday has helped many divorced clients plan ahead so that they not only retire with enough money, but also ensure they have an appropriate written plan in the event they suffer an injury, illness or death. We can work closely with you to create a personalized plan that is right for your situation. So, give us a call to find out how our experienced elder law attorneys can assist you after the dissolution of a marriage. You may also find out about some other key tasks an elder law attorney can help you resolve after your divorce.
Making A Retirement Plan
Divorce can be financially devastating and you may have lost some of your hard-earned assets during the divorce process. Further, because you are no longer married, you may also lose the chance to benefit from your spouse’s pension or social security benefits (depending upon the length of your marriage and the terms of your divorce). If you are now dependent on your own retirement savings, you will need to make appropriate plans to put aside enough money.
Parman & Easterday can assist you in setting retirement goals and taking advantage of both IRA and Roth IRA accounts. Because the rules for IRAs are different for married couples and singles, our legal team will ensure you are aware of how much you are allowed to contribute now that you are on your own.
Creating A Plan For Incapacity
If you become incapacitated while married, your spouse will likely be able to make your medical decisions, manage your assets, care for the kids and you. If you are not married, however, you still need someone to tare care of these things, but the decision of whom it will be may be more difficult.
If you want to have a say in who takes care of you and your assets, you need to make a written incapacity plan. Parman & Easterday can help you take advantage of current laws to dictate who you want taking care of you and acting on your behalf.
You may also need to address who should become the guardian of your minor children, who will care for your pets, and how you will pay for long term care if you need help caring for yourself. Our Overland Park elder law attorney will help you understand the issues that arise due to incapacity and assist you in addressing those issues.
Making A Legacy Plan
A proper legacy plan allows you to control who inherits your financial and non-financial assets after you pass away. As a single individual, you may need to take certain steps to avoid the estate tax if you have a larger estate. You will also need to ensure your former spouse is not the named beneficiary on any accounts or insurance policies.
Getting Help from an Overland Park Elder Law Attorney
Parman & Easterday provides the comprehensive experience to help you get your affairs in order and plan for your future after a divorce. To find out more about how our Overland Park elder law attorney can help you, join us for a free seminar. You can also give us a call today at (405) 843-6100 or (913) 385-9400 or contact us online to get personalized advice regarding your plans.
Latest posts by Larry Parman, Attorney at Law (see all)
- Baby Boomers – It’s Time to Update Your Estate Plan - November 12, 2019
- Tips to Keep Your Parent from Becoming the Victim of Financial Exploitation - November 7, 2019
- How Do I Choose the Right Trustee for My Trust? - November 5, 2019
