Elder Law Attorney Dennis Toman founder of The Elderlaw Firm in Greensboro, NC discusses the importance of preparing for rising health care and long-term care costs as people age. For more information please visit https://www.elderlawfirm.com
-- Elder Law attorney Dennis Toman, of The Elderlaw Firm in Greensboro, NC, emphasized the importance of addressing legal complexities that arise with age during a recent interview. Growing older can introduce new challenges, particularly in health care and financial planning, Toman explained.
For more information please visit https://www.elderlawfirm.com
"Health care is a critical area of concern as we age," noted Toman. "Physical and mental health may decline, while the costs of assisted living and nursing homes continue to rise. Without proper planning, one's financial resources could be quickly depleted, impacting their ability to enjoy life or leave assets to loved ones."
Toman highlighted the importance of proactive legal advice to manage personal, financial, and health matters effectively. He mentioned various strategies to protect assets and finance long-term care, including utilizing government programs like Medicaid while minimizing the impact on assets.
"In addition to government programs, seniors can benefit from resources provided by the Older Americans Act," Toman added. "These services range from nutrition programs to adult daycare and nursing home supervision, offering valuable support to seniors and their families."
Toman emphasized the importance of creating an estate plan in advance to provide peace of mind and allow for adjustments as circumstances change. He also underscored the significance of legal structures to manage affairs if one becomes incapacitated, such as appointing executors or seeking legal guardianship when necessary.
He added: “There are options that can kick in to reflect a person’s wishes if there comes a time when they can no longer manage their estate and financial affairs independently. These include executors and decision-makers being appointed or loved ones seeking legal guardianship, if necessary.”
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Contact Info:
Name: Dennis Toman
Email: Send Email
Organization: The Elderlaw Firm
Address: 403 W Fisher Ave, Greensboro, NC 27401
Phone: 336-378-1122
Website: https://www.elderlawfirm.com
Release ID: 89208008
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