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OLDER SIGNALS: Older Legal professionals Can Save You Cash – The Bristol Press

Dear attorney Tully: My husband has Alzheimer’s and is in a nursing home. I want to get the best and most unbiased advice possible, but am concerned about the cost. Some say hiring an older law attorney is too expensive. I’m not sure I can afford it and I don’t want to drain the money I have left.

ANSWER: If the planning of the older law was only going to drain your funds, I would advise you to spend them in a nursing home instead. Many married couples can protect everything they have without spending any money.

Most single people diagnosed with Alzheimer’s disease spend all of their money on long-term care. They are reduced to about $ 1,600 in savings and $ 75 per month in income. That’s it. That’s all they are allowed to have.

Now you can imagine that in the event of an accident – if a hearing aid is stepped on or glasses are misplaced – the money for the replacement has to come from somewhere. What about haircuts? How many of these can you get for $ 75 a month? You can see that $ 1,600 won’t go that long.

And when it’s gone, the financial burden ends up either with the spouse – who also has limited income and savings – or the children. Most people don’t want this for their spouse, and especially not for their children. They have worked hard to give their children everything they need and don’t want to burden their children’s bank accounts with medical expenses.

Now that a lawyer comes into play, you might be surprised to find out. You see, hiring a senior law attorney can actually save you money. In fact, it can save you many times the amount you spend planning.

Incredible, is not it? Let me explain how it works.

When a skilled Elder Law attorney comes into play, he or she follows the rules to help you save as much as possible of what you already have. The truth is that the money that is spent on an Elder Law attorney is money that would have been spent on medical expenses anyway. Additionally, in many cases, a senior law attorney can help you save tens of thousands of dollars on care. This is money to keep.

The rules say that for many people, some of the money saved must be spent. But instead of spending everything on care, an Elder Law attorney can help you figure out what will be considered an allowable expense to help your family and healthy spouse live at home.

So the reality is, you cannot afford NOT to spend money on an older law attorney.

Attorney Daniel O. Tully is a partner in the law firm Kilbourne & Tully, PC, members of the National Academy of Elder Law Attorneys Inc., with offices at 120 Laurel St., Bristol. (860) 5831341 or ktelderlaw. com.

Posted in The Bristol Press, Bristol on Sunday 24 October 2021 at 6:34 p.m. Updated: Sunday, October 24, 2021 6:37 PM.

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