5 Reasons You Need This Kind of Lawyer To Protect Your Family’s Money (and Your Peace of Mind)
Written by
Gabriel Vito
Edited by
Amen Oyiboke
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Most families don’t realize how quickly a health crisis can wipe out savings, trigger disputes, and leave them scrambling through a maze of legal headaches.
An elder law attorney can help protect assets, reduce conflict, and guide families through difficult transitions. Unlike general estate lawyers, they specialize in addressing the unique issues that arise with aging.
Here are five reasons to consider working with a general estate lawyer.
They Put Decision-Making in Trusted Hands
If you lose the ability to manage your affairs, someone still needs to pay bills and make medical choices. Without the right documents, a court may end up deciding who takes control.
“Having a power of attorney is crucial, as it empowers someone you know and trust to step in and manage your property,” said Dana Walsh Sivak, partner and chair of the Elder Law Group at Falcon Rappaport & Berkman. A durable financial power of attorney and a health care proxy are simple safeguards that keep decision-making in the family’s hands, not the court’s.
They Build a Tailored Estate Plan
A good estate plan is more than just a will. It coordinates wills, trusts, and beneficiary designations to ensure everything works together. Without that coordination, assets can end up stuck in probate or lost to disputes.
“Without an estate plan, families can lose up to 10% of the value of the assets of an estate to legal and court fees,” said Renee Fry, CEO of Gentreo. An elder law attorney ensures your plan reflects your family’s real needs and keeps as much of your money as possible in the family.
They Protect Assets From Long-Term Care Costs
Most families are blindsided. Nursing home care can cost $10,000 to $20,000 per month. The median annual cost of a private room now tops $127,000, according to Genworth’s 2024 Cost of Care Survey. Without early planning, savings can drain fast.
Elder law attorneys step in with strategies most people don’t know about to keep your money from being wiped out by long-term care. One example is an irrevocable trust, which allows assets to be moved out of your name so they won’t be counted against you when applying for Medicaid.
“An irrevocable trust is a common tool to protect assets, but it must be created and funded at least five years before care is needed,” said Joseph Fresard, attorney at Simasko Law. He added that families have other options as well, but the right plan depends heavily on each person’s situation. That complexity is exactly why an elder law attorney matters.
They Guide Families Through Medicaid and Care Planning
When a loved one suddenly needs assisted living or nursing home care, the rules around Medicaid can feel overwhelming. Strict lookback periods and state-specific eligibility requirements make mistakes costly.
“There is a lot of misinformation shared, I’ve lost count of how many clients have told me ‘I was told I need to sell my home to qualify for Medicaid,’ or that they ‘make too much money’ and then end up paying privately for care that Medicaid likely could have covered,” said Sivak.
An elder law attorney helps families cut through that confusion, avoid costly errors, and find the strategies that preserve assets while still getting loved ones the care they need.
They Reduce Family Conflict in Stressful Moments
Money and caregiving decisions can easily spark old tensions. Without clear direction, disputes over finances or care often boil over into lasting conflict.
“I recommend ‘family meetings with a purpose,’ gathering everyone with the attorney to discuss wishes openly while parents can participate,” said Phillip Reed, estate and asset protection attorney at Reed Law PLC. Having an attorney present also provides a neutral voice. As Sivak explained, “simply having another person to talk through options with can help lower the temperature, keep families focused, and make sure each member feels heard.”
Attorneys add structure and neutrality, which helps preserve both money and relationships. That peace of mind is invaluable for families when the unexpected happens.
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