After decades of working, many Delaware couples look forward to retirement. However, at the same time, they may begin to wonder whether they have enough financial security should one of them pass away. Fortunately, making use of elder law could provide some peace of mind in their retirement years.
Like many other Delaware residents, you more than likely do not want to think about a time in your life when you will not be able to make decisions for yourself. However, as you age, you may wonder if such a time could come. This eventuality makes powers of attorney so important in elder law.
When creating an estate plan, there are many factors to consider beyond how to divide one's assets after death. In fact, with proper elder law guidance, an estate plan can be a valuable resource in many stages of life. One example is by establishing a power of attorney against the possibility that the testator should become incapacitated by age or illness. However, few people in Delaware take advantage of this tool, which may require loved ones to seek legal guardianship.
While multi-generation households may have been the norm in the past, they are less common these days. Aging parents prefer to stay in their own homes, and adult children often need two incomes to support their families. Just a few years ago, a decline in health may have meant an older parent ended up in a cheerless nursing home, with little room for personal belongings and less concern about a resident's preferences. However, by revisiting elder law reforms, some Delaware nursing homes are striving to bring about positive changes.
Instead of finding a Delaware nursing home to care for your aging loved one, you may decide to provide the care he or she needs yourself. However, you may be concerned about much needed Medicaid benefits. Fortunately, that does not have to be the case, and elder law could help make your arrangement happen.
It seems as though there is always someone out there trying to get something for nothing. These people tend to prey on vulnerable members of the population here and around the country. Those here in Delaware who work in elder law see far too many residents who believe that an elderly loved one could fall victim -- or already has fallen victim -- to financial exploitation.
No one wants to envision a day when making health care decisions has to be passed to someone else. Losing that kind of autonomy is frightening for many Delaware residents. However, what would be even more frightening is for that to occur without you having the chance to make those choices in advance. For this reason, the creation of a living will is a crucial part of elder law and estate planning.
The financial resources of an elderly loved one are often limited. Even so, another family member or someone who claims to be a friend might still attempt to take advantage of an aging Delaware resident's kindness or compromised mental state for personal financial gain. Elder law does provide ways to help protect his or her assets and income from those who would prey on a vulnerable individual.
The death of a loved one is almost always a difficult time for a family. Oftentimes, family members would rather dedicate their time and energy toward grieving and supporting each other through a trying time than dedicating that same time and energy toward legal matters.
Between 1946 and 1964, an estimated 78 million babies were born in the United States. Since that time, baby boomers have gone on to run corporations, cure diseases and serve as U.S. presidents. Today the oldest boomers are in their early 70s and increasingly struggle with physical ailments and chronic medical conditions. In the coming years, a significant percentage of boomers and their loved ones will likely be forced to make decisions about nursing home care.