Estate Planning and Elder Law Attorneys
Although Elder Law strategies often involve abuse, taxes, and estate planning, the two practices are distinctly different. If you need a nursing facility or long-term home care, your needs will best be met by an Elder Law attorney.
One other critical consideration is an Elder Law firm will have in-depth and unique insight into the rights of a senior citizen. For instance, in a true story, a significant bank had convinced a client to put a substantial amount of money into an annuity. This specific investment was absolutely inappropriate for an elderly person in their unique financial circumstances.
Usually, once money is put into an annuity of the kind this client invested in, most of the cash is not allowed to be withdrawn for several years without incurring a penalty. However, the bank was contacted and informed that the client needed their money for Elder Law planning. The bank was told that the bank’s recommendation was wrong, and then they were asked for the funds to be returned to the client without any withdrawal penalty. The bank did comply without a fight.
In another case, a client had accumulated a high dollar amount in credit card debt. Although this is a separate ordeal, we believe it is entirely inappropriate for credit card companies to solicit elderly people with particular economic profiles as customers. In this particular situation, the client was given advice that rapidly resolved her debt issues.
We’re Here to Help
All this is here to let you know that there’s no substitute for getting the right advice. For more information, contact Hudack Law today at (877) 314-4309 Toll-free, please visit areas of service (open link in a new tab) or hudacklaw.com (open link in a new tab).