Your Local Estate Planning and Elder Law Resource
The Law Office of Shawn M. Pierson is conveniently located in Lititz, Lancaster County, Pennsylvania. Our firm is dedicated to offering value added, lifetime estate & elder law planning services. Lifetime & estate planning services offered include Wills, Power of Attorneys, Living Wills, Trust Planning, and Beneficiary Designation Planning. Elder law services include assisting older adults with Qualification for Medicaid, Medical Assistance & other benefit programs, as well as guidance with Assisted Living and Nursing Home Placement and Planning.
We recognize that taking steps to secure you and your loved ones future, well-being, and security can be a challenging and overwhelming process. Understandably, these challenges and the perception that legal planning is expensive may cause many individuals to postpone the initiation of effective lifetime and estate planning, which can often lead to unfortunate results.
A durable power of attorney allows you to carry on your financial affairs in the event that you become disabled. Unless you have a properly drafted power of attorney, it may be necessary to apply to a court to have a guardian or conservator appointed to make decisions for you when you are disabled. This guardianship process is time-consuming, expensive, often costing thousands of dollars and emotionally draining.
Medicaid planning is legal. Elder law attorneys work to protect clients’ assets within the bounds of the law. Congress allows citizens to qualify for Medicaid after meeting certain requirements, and those requirements could be changed if Congress felt they were being abused. Medicaid planning is not any more illegal than planning to avoid taxes.
Many of us avoid initiating an estate plan for many reasons - including the thought that estate planning is expensive, or perhaps that their assets are not substantial enough to warrant the preparation of a Will, or maybe even that estate planning brings up the unpleasant thought of death.
Wills
The cost and duration of probate can vary substantially depending on a number of factors such as the value and complexity of the estate, the existence of a Will and the location of real property owned by the estate. Will contests or disputes with alleged creditors over the debts of the estate can also add significant cost and delay. Common expenses of an estate include executors fees, attorneys fees, accounting fees, court fees, appraisal costs, and surety bonds. Most estates are settled though probate in about 9 to 18 months, assuming there is no litigation involved.
Trusts
Over the past few years, the 'Living Trust' concept has been advertised in direct mailings to many older adults throughout Pennsylvania. In addition, there have been numerous newspaper advertisements for Living Trust seminars. These advertisements have left many older adults
Power of Attorney
An elder law attorney is familiar with important planning tools like Wills, Powers of Attorney and Trusts. In addition, elder law attorneys assist older adults in evaluating options available to pay for health care costs like a nursing home stay. As we age, the probability of a health issue impacting our independence and financial stability substantially increases. Given the cost of just a month in a nursing home, an elder law attorney can help older adults feel that "there is a light at the end of the tunnel." Where a husband and wife are concerned, an elder law attorney can ensure that the spouse in need of care can receive the good care he or she deserves, without depleting all of the couple's assets. For single older adults, an elder law attorney can similarly assist them in understanding their options in regards to paying for a stay in a health care facility.