Elder law attorneys specialize in laws related to senior citizens. As such, they can help with Medicaid, managing property and assets, and estate planning for the elderly. Simply put, elder law attorneys deal with medical and estate planning issues unique to the senior citizens.
There can be several areas where the elder law attorney’s services are useful. They can help senior citizens set up a durable power of attorney to deal with their financial and medical needs, help with estate planning, deal with probate court, help with Medicaid planning, etc.
These services can be especially useful where long-term care is needed or where the senior citizen has a debilitating disease and would want to plan for their assets, medical instructions, and ensure care.
Many senior citizens may need to “spend down” to be eligible for Medicaid. An elder law attorney can help protect your assets even as you spend down for eligibility.
The charges for elder law attorneys can widely vary. Some do it for a fixed price, others for an hourly price, and of course, the price depends on specific factors like location, your requirements, and the time the attorney will have to spend on your work.
In most cases, elder law attorneys charge the equivalent of what a nursing home for the elderly charges for a month of care. This cost is location specific, but it generally falls between the range of $8000 to $11000.
But not all work is the same, so elder law attorneys may also make it possible to hire them on an hourly basis. Again, the specifics will change depending on your location or your choice of lawyers. However, estimates suggest that the average price of hiring an elder law attorney is $241 per hour in Oklahoma.
A good elder law attorney will cost significantly more than the average. A competent attorney can easily cost upwards of $500 per hour. While the cost is steep, the fee can justify itself in cost-savings with Medicaid, estate planning, and other services.