Before we provide some tips for finding the right elder law attorney, we would like to explain why you need one.
Elder law attorneys are focused on legal matters that directly impact senior citizens. Everyone should be aware of elder law matters. Certain legal steps must be taken if you want to be prepared for the eventualities of aging.
Long-Term Care Costs, Medicare & Medicaid
A lot of people are not worried about medical expenses during their senior years because they expect to be qualified for Medicare coverage. It is true that most seniors will qualify for Medicare.
The way that you qualify for Medicare is by accumulating retirement credits while you are earning income and paying taxes. You can earn up to four credits per year. Once you have 40 credits, you will qualify for Medicare when you reach the age of 65.
These are relatively modest requirements, so most people are going to be eligible for Medicare coverage as senior citizens.
Medicaid on the other hand is a government health insurance program for people who have significant financial need. It is not something that you earn through the accumulation of retirement credits. People of all ages can qualify for Medicaid.
The reason why Medicaid is relevant to senior citizens who are enrolled in the Medicare program is because Medicare will not pay for long-term care. If you have to stay in an assisted living community or nursing home late in your life, you are looking at a huge expense.
Medicaid will pay for long-term care. With the proper planning it is possible to qualify for Medicaid without losing everything, even if you were never poor throughout your life.
Elder law attorneys assist people who want to aim for future Medicaid eligibility while simultaneously retaining assets for the benefit of their loved ones.
Finding an Elder Law Attorney
If you are looking for an elder law attorney, seek out word-of-mouth recommendations. Since we live in the age of the Internet you can also do research online.
There is a highly respected organization that is comprised of elder law and estate planning attorneys called the American Academy of Estate Planning Attorneys. Their website has a database containing members who are located all over the country. This is a good resource to tap into if you are looking for an elder law attorney.
If you live in or around Oklahoma City or Overland Park, Kansas, you may have found a good resource already since you are visiting this website. Our firm practices in both of these metropolitan areas.
We would be glad to provide you with a free Medicaid planning consultation. To request an appointment, simply click this link: Contact Parman Law.
Parman & Easterday