If you care for an elder, whether they’re a parent, spouse, or other family members – you know how difficult it can be for them to get the care that they need. Many factors like healthcare, financial well-being, and long-term care can all be difficult to manage.
This is where elder law comes into play.
What Is Elder Care Law?
According to the National Academy of Elder Law Attorneys (NAELA), elder law encompasses many fields of law in areas such as:
- Administration and management of estates and trusts
- Estate planning and probate
- Trusts, wills, and other financial documents
- Long-term care placements in senior living communities and nursing homes
- Medicare and Social Security appeals and claims
How can a Financial Planner Help?
If you’re looking for help with things like long-term care arrangements or preparing for future scenarios, turning to a financial planner may be the right option for you. Some ways that they help are:
- Helping with access to Medicaid and/or veteran’s benefits
- Protecting assets from financial exploitation
- Setting up a living trust
- Creating a plan for aging in place and transitional care
A financial planner that offers elder care services will be familiar with elder law, and how to protect your loved ones.
Long story short, if you need a little direction and guidance on what to do or where to go when caring for an elder, a financial planner will help.
Your family members matter and getting them the help and care that they need is important. Greater Midwest will work with you to figure out the best options for you, or the ones that you care for so that you have one less thing to worry about.
Our financial advisors at Greater Midwest Financial Group are committed to helping you balance your present and future finances so you can live comfortably and confidently well into the future.
If you’re planning for college, don’t be afraid. There are many avenues you can take to save yourself money, time, and stress during your college planning process.
Greater Midwest Financial Group is a financial advisor firm serving St. Paul, Minneapolis and the wider Twin Cities area. We specialize in wealth management, retirement planning, asset management and other personal finance needs.
Photo by Amy Hirschi on Unsplash
