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Why are financial planning documents so important for elders in Fort Pierce Florida? 

FLORIDA – February 16, 2021

As people age, or become infirmed due to age, there are certain “must-have” documents that can be prepared in advance to assure all interested parties have some security.  When these documents are in place, it saves families from difficult heart-wrenching decisions, disagreements with family members and other loved ones, and unnecessary financial worry and strain. The documents, including an advance directive, durable power of attorney for healthcare, revocable living trust, will, and a durable financial power of attorney, all of which address individual financial protections and peace of mind regarding assets and care for aging individuals, can be prepared by a Florida estate planning attorney with crucial input from clients, families, and caregivers.

Estate and financial planning. 

 Elder law attorneys can assure that estate planning documents are tailored to the individual needs of their clients, and address the concerns of family members who may be caring for them in their advanced years as well.  Financial planning is a mechanism that will set up a check and balance system to assure that funds will be available for the care of a person as they age and they need more services, or moving into an assisted living care facility.  Asset preservation is important to maintain financial security in aging and may require setting up a trust, researching possible long-term care facilities and taking steps to qualify for necessary government programs that may ease financial burdens.

An elder law attorney can explain the importance of setting up long term insurances before the actual need exists and explain the advantages of Medicaid to defray the costs of a nursing home, or paid assisted living services.

Elder protective services.

There are some circumstances where aging individuals become concerned with their physical safety, and that of their finances when other individuals take charge of their daily activities and financial business.  An elder law attorney can also explain the benefit of adult protective services, who assist when an elder has been abused, neglected, or exploited.  Any person who knows of the corrupt behavior causing harm to an elderly person should contact the abuse hotline at 1-800-96-ABUSE (1-800-962-2873), press 2 to report suspected abuse, neglect, or exploitation of the elderly or a vulnerable adult. This toll free number is available 24/7 to  report the occurrence, or suspicion, so it can be properly investigated.

Legal consultation.

Florida legal counsel understands the nuances of state and federal laws and how they impact the concerns of aging individuals regarding their care when they have difficulty managing their own finances, or performing activities of daily living. Contact an experienced attorney at The Estate, Trust & Elder Law Firm, P.L. in Fort Pierce Florida to assist with estate planning to secure finances and physical care options.

The Estate, Trust & Elder Law Firm, P.L.

2940 S. 25th Street
Fort Pierce, FL 34981
Phone: 772-828-2588

Sources.

http://www.leg.state.fl.us/statutes/index.cfm?mode=View%20Statutes&SubMenu=1&App_mode=Display_Statute&Search_String=415.1034&URL=0400-0499/0415/Sections/0415.1034.html

https://www.flsenate.gov/Laws/Statutes/2018/Chapter736

http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&Search_String=775.0877&URL=0700-0799/0784/Sections/0784.08.html

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