Elder Law addresses the unique legal issues affecting you as you age. In addition to Estate Planning, it includes long-term care planning and asset protection as well as major life decisions, such as planning for future health-care needs. At Schroon Law PLLC, we pride ourselves on blending elder law and estate planning to create a comprehensive approach that caters to the specific needs of each client and their families. We find planning often involves family members, caregivers, and other loved ones and is multigenerational in its approach. We work to empower our older clients with the support and resources they need through our holistic approach.
Our Approach
- Estate Planning Expertise: We recognize that proper estate planning goes beyond the realm of the wealthy. Middle-class families now find themselves exposed to estate taxes, and we are here to guide you in reducing or eliminating those taxes. Our seasoned attorneys specialize in utilizing trusts to avoid probate, save on estate taxes, and plan for disability.
- Elder Law Advocacy: In the dynamic field of elder law, our expertise extends to navigating the complexities of state Medicaid rules, addressing the soaring costs of long-term care, and ensuring that your assets are shielded from nursing home expenses. We proactively plan to protect your interests, whether you're at the threshold of nursing home care or already in a nursing facility.
The History of Elder Law and Estate Planning
- A Revolution in Estate Planning: The landscape of estate planning underwent a revolution in the late ‘80s and early ‘90s. Middle-class families, now suddenly exposed to “estate taxes,” found the need for strategic planning to reduce or eliminate these financial burdens. Revocable living trusts (“RLTs”) gained momentum, endorsed by reputable organizations such as the American Association of Retired Persons (AARP), leading to the “living trust revolution.” In fact, in 1991, AARP published “A Consumer Report on Probate,” which concluded that probate was to be avoided in all but the most exceptional cases. This marked the end of wills dominating the estate planning world, with RLTs becoming the main planning tool for most estate plans.
- Elder Law Emerges: Simultaneously, the field of elder law emerged to address the increased complexity of state Medicaid rules and the challenges posed by longer life expectancies.
- Bringing It Together: At Schroon Law PLLC, we bridge the gap between estate planning and elder law. Our holistic approach ensures that you receive the best of both worlds. Whether your estate falls within the middle-class range or you have a high asset estate, we tailor our services to meet your specific needs.
Our Goals in Planning with You
By combining our knowledge of elder law with our estate planning practice, we work to meet the following goals:
- Getting your assets to your heirs with minimal taxes and legal fees.
- Keeping assets within the family lineage, protecting them from divorces, lawsuits, and creditors.
- Safeguarding assets from the financial impact of long-term care while qualifying for government benefits.
While estate planning tools often cater to affluent families and elder law addresses the diverse needs of seniors, our approach of looking at both areas of law focuses on the concerns of the vast majority in the middle class.
Our Commitment
At Schroon Law PLLC, we make it our mission to provide you with unparalleled guidance in elder law and estate planning. Let us help you through the complexities, ensuring that your assets are preserved, your family is protected, and your legacy endures.