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| Elder Law Questions & Answers |
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QUESTION: I’m a 36 year old man, married, with 3 children. Why would I need an Elder Law Attorney?
ANSWER: You may not want to think about this, but you will die someday. If you are lucky, it will not be for a long time, but it will happen. Thus, you have all the same estate planning needs of a 50-year old, except that at 36, you have much broader flexibility. Here are examples:
- Long term care insurance is inexpensive because you are young and healthy.
- You can start a whole life insurance policy, which will avoid inheritance tax.
- Certain properties and interests are exempt under Medicaid standards. You can determine the exemptions now or plan for them to remain exempt, so you will qualify for Medicaid.
- You need a well-considered and well-drafted Will and/or Trust no matter what your age because you have a family.
- You also need a durable Power of Attorney with broad powers – you don’t want to be in a situation where your wife cannot make medical decision for you.
- Depending on your assets, you might consider the re-titling of assets (to assure assets/interests get to whomever you choose at a lower inheritance tax or none).
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| Contact Attorney Roger Gaydos: 724.745.4030 |
|  Roger J. Gaydos,
Attorney at Law
407 Oak Spring Rd.
Canonsburg, PA 15317
TEL: 724.745.4030
FAX: 724.745.6117 © Roger J. Gaydos, Attorney At Law. All rights reserved. Disclaimer: The information provided in this site is not legal advice. It is only general information on legal issues commonly encountered. Use of GaydosLegal.com is not a substitute for consulting with Roger J. Gaydos the Attorney. All of the content available at GaydosLegal.com, including sample legal documents is for self-help and informational purposes only, and in no way does your use of this site or the content or documents herein constitute the exchange of actual legal advise or a establish a client-attorney relationship in any way. |
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