Elder Law Estate Planning
Elder Law Estate Planning is a specialty area of the law which combines the features of elder law and estate planning that pertain most to the needs of families. Ferriter Law has been assisting individuals and families for decades in this important area.
Estate planning was originally for the wealthy few. Most families did not consider themselves as having “estates” to plan. During the 1980’s, a great economic expansion occurred, raising the asset level of the middle class into the realm of estate planning. With many people suddenly exposed to “estate taxes”, the need arose for estate planning, to reduce or eliminate those taxes.
A few years later, in 1991, the American Association of Retired Persons (AARP) published “A Consumer Report on Probate” which concluded that probate was a process to be avoided, in all but the most exceptional cases. This marked the beginning of the end of traditional will planning and started the “living trust revolution”. AARP recommended that families start using trusts rather than wills, to avoid probate and save their beneficiaries tens of thousands of dollars in the estate settlement process.
Since then, millions of people have set up trusts to:
- Save time and money in settling the estate
- Avoid legal guardianship if they become disabled
- Avoid having their personal and financial matters made public
- Reduce the chance of a “will contest”
- Keep control in their family and out of the court system
Elder Law Estate Planning is vital to many individuals and families today. To secure your life’s work today and for tomorrow, you need the best representation possible. By doing so, we help you to:
- Get your assets to your heirs, with the least amount of taxes and Probate fees possible
- Keep those assets in the Family for your grandchildren and, in the meantime, protecting those assets from your children’s divorces, lawsuits, and creditors
- Protect your assets from the costs of long-term care and qualifying for government benefits available to pay for care