Collin County Living Well Magazine Winter 2013 | Page 25

Give the Gift of
Empowerment
This Holiday
Season
By Lori A. Leu & Erin W. Peirce

A

s we get older, the gifts
we cherish most don’t
come wrapped in a
box. It is peace of mind
and time with loved
ones that make the greatest presents.
This holiday season sit down with a
senior you care about to discuss his
or her plan for the future. There is
a lot more to it than just an estate
plan, and informing them about Elder
Law topics will put them in control
and give them some peace of mind.
Elder Law is first and foremost about
empowering seniors.
Elder Law is not a new type of law,
but it is a relatively new way to bring
several areas of the law together to
benefit a particular group of people
– older adults. Elder Law services enable you to make your own choices
and decisions about managing life as
you age. Everyone wants to have some
control over the future, and Elder Law
helps you do just that. The main areas
that Elder Law affects include your
living arrangements, your financial
well-being, your healthcare options,
and your ultimate disposition of assets.
Helping a senior learn about these Elder Law issues may be the most valuable gift you give this year.
Housing – No one knows exactly
what the future holds, but the key to
feeling secure is to keep all of your options open. There are a wide range of
living arrangements for seniors, from
retirement communities to assisted
living facilities to skilled nursing facilities. Some people want to stay in
their own homes as long as possible
and bring in outside help to make that
possible. Others want the freedom
from home maintenance that a senior
residence complex can offer. Elder
Law services can help you weigh all
the options and make sure you have
the right plans in place so you can have
control over your living arrangements.
Finances – Money matters can be
especially complex for seniors. It’s so
important to plan carefully and preserve your assets for when you need
them the most. If you have a pension
or other private retirement fund, will it
be enough to pay all of your expenses?
If you plan to rely on government
benefits, such as Social Security or

Veterans Benefits, do you know how
much you are eligible for each month
and how to access what you are entitled to receive? Have you designated
individuals to act on your behalf in
financial and legal matters through a
proper Durable Power of Attorney so
that your desires can be protected if
you cannot act for yourself? Elder Law
encompasses all of these decisions
within the context of planning for longterm care – a very different financial
and legal arena.
Health – Healthcare in the United
States has become one of the most
confusing and uncertain issues we
face. If you have private insurance that
covers medical expenses or long-term
care, you need to be sure that changing
laws and regulations won’t affect your
coverage. If you rely on Medicare and
additional Medicare supplements or
advantage plans to pay your healthcare costs, what will happen if these
programs are affected by budget cuts
or new eligibility requirements? Veterans may be eligible for additional
government programs to cover their
medical expenses. Elder Law covers
these issues, and can also help you
outline your wishes for health-related
decisions through a Medical Power of
Attorney and Advance Directives.
Disposition of Assets – Elder Law
includes estate planning issues such
as wills, trusts, and property transfers.
As time passes and circumstances
change, it is often necessary to make
changes to your plans for the disposition of your assets. Further, depending upon the government benefits for
which you may be eligible, changes
may be needed to your plans for disposition of assets to ensure your longterm desires are met.
If you think a senior you care about
would benefit from a review of the options in any of these categories, consult
a qualified Elder Law attorney in your
area. This security will be the gift that
keeps giving for years to come.
Lori A. Leu and Erin W. Peirce are
Elder Law attorneys with Lori A. Leu
& Associates in Plano, Texas. They
help clients sort through these issues
every day and can be reached at 972996-2540.

Collin County Living Well Magazine • Winter 2013

23