Stenger, Glass, Hagstrom, Lindars & Iuele LLP Provides Numerous Elder Law Services
Aging is a natural part of life. It happens whether we want it to or not, so it’s best to be prepared for it. Stenger, Glass, Hagstrom, Lindars & Iuele LLP can help you plan for your later years, as we offer many elder law services, including Elder Law, Wills & Estate Planning. We have two offices in Dutchess County, NY, one in Wappingers Falls and one in Poughkeepsie. We help clients make a plan for the future and protect their assets from many different obstacles, including taxes, family disagreements, long-term care expenses, and more. Though it may feel uncomfortable to talk about a time when you can no longer take care of yourself, we firmly believe it is best to take care of these matters as soon as possible. Please reach out to us for more information.
We Are Here to Help You Plan for the Future
Most people will require some sort of long-term care in their elderly years, whether it’s assisted living or a nursing home. These services can come at a high price and are often not covered by insurance. For this reason, it’s essential to make a plan early about how to cover these expenses. We can help develop a plan for you and your family, assisting you in qualifying for Medicaid benefits. In addition, we can help you plan for life after your passing. Doing so will ensure your final wishes are followed and will help to prevent feuds among surviving family members. Our team is here to help you make a clear plan for the future.
What Is Estate Planning?
Estate planning is a service that creates a detailed but flexible plan for how to manage your assets while you are still alive. In addition, elder law, wills and estate planning helps you determine what to do with your assets if you become ill and how to distribute your assets after your death. Everything you own, including real estate properties, investments, personal effects, and more, will be handled by a representative you name. A well-drafted estate plan will ensure your final wishes are met and that your estate and personal items are passed to who you want, and in the manner, you have chosen. Some of the documents and services included in estate planning are:
- Wills: A will is a legal document that will list all of your assets and explain how and who they will be distributed to upon your death. This document will also name an executor who will manage your estate following your passing.
- Trusts: A trust may be set up to protect assets upon your passing. These documents control when and how your money or assets left behind will be distributed and received. You can choose to have your family members receive assets in payments over several years, rather than giving them one lump sum.
- Powers of Attorney: There may come a time when you are unable to make decisions on your behalf, either in regard to finances or your care. For this reason, it’s crucial to have a power of attorney set up that will grant a person of your choice permission to act on your behalf. You can choose the level of control they have and set up specific rules.
What to Consider When Planning Your Estate
There are many pieces to an estate plan, and it’s important that all pieces are completed appropriately to ensure your wishes are followed. At Stenger, Glass, Hagstrom, Lindars & Iuele LLP, we have experienced estate planning attorneys to help you develop a thorough estate plan. Some of the things that we’ll discuss during the process of planning your estate include:
- Your Possessions: You’ll want to think about all of your possessions. This includes real estate, investments, personal property, vehicles, and more. What do you want to happen to them?
- Your Loved Ones: You’ll also want to consider the people in your life. If you have a spouse and children, do you have a plan for how they’ll be cared for in your absence?
- Ability to Make Decisions: If you become incapacitated, who would you trust to make decisions on your behalf? It’s crucial that you find someone that will honor your wishes.
- Extended Family: Family dynamics today are more complicated than ever. Many people have multiple marriages and sometimes have kids from more than one relationship. You’ll want to think about everyone in your extended family and how they’ll be affected by your passing, as well as which of them will be included in your will.