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Estate planning after death & elder law for those with aging issues

 

Estate planning happens after death and elder care law plans for those facing aging issues, according to board-certified elder care attorney Scott Solkoff.

He spoke about the ethics and benefits of long-term care asset protection planning at a recent session of the ACE Lifelong Learning Center at Mandel JCC of the Palm Beaches, 8500 Jog Road, in Boynton Beach.

Solkoff joined his father Jerome Ira Solkoff’s law firm 22 years ago. His father co-founded the Elder Law Section of the Florida Bar in 1991, serving as chairman from 1991 to 1993. Scott Solkoff was chairman from 2003 to 2004 when membership was 1,600. Today it is 1,700.

“Elder care laws were passed in 1980. Elder care is ‘real stuff’ helping seniors,” Scott Solkoff said. “For many, the immediate question is why they can’t simply rely on their savings, health insurance, retirement and Social Security. The assumption is that with some basic preparation and existing government programs their future is planned for.

“The problem is it fails to account for two things: the high out-of-pocket costs for the growing needs of the elderly and the difficulty of navigating the existing government programs that may be able to assist.”

Solkoff cited a 2016 Genworth study quoted in a Forbes article: “Nearly a third of Americans (30 percent) believe home health care expenses are under $417 a month, but according to Genworth’s number crunching, the national median rate is about nine times that.”

“Most people have a revocable living trust,” he said. “If incapacitated, money you have is used for your care, for your protection while still alive. It is used to avoid probate. Recommended by elder care lawyer specialists is an irrevocable trust document.”

Solkoff related a case history.

ACE Lifelong Learning Center at the Mandel JCC has over 100 classes Monday through Friday covering topics such as history, current events, entertainment and personal growth, among others. Visit JCConline.com/ace or call 561-740-9000.

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    Top elder law attorney. Both personally and professionally, I have utilized Solkoff Law for over 10 years. Personally, he has helped my dad before he passed at 101. His expertise and knowledge helped dad pass in a beautiful assisted living facility because of his work in family asset protection. He has prepare custom documents for me and my wife who is disabled. Professionally, he has helped dozens of my clients in long term care planning and for caring for a child of special needs. I have shared the podium with Scott and have been in meetings with his clients and mine. He is one of the most skilled attorneys that I have ever worked with in 30 years of wealth management practice. His staff is first rate and always responsive to my calls or those of clients. I have gone on end of life hospital visits with him to complete planning to help the family when their loved one is about to pass. Solkoff Legal is first class, knowledgeable, caring and accessible They are the team you want on your side with your planning and problems.

    Paul

    We have worked with Scott, Heather and the awesome team at Solkoff Legal for many years and have been pleased with their services. We often need a resource who is knowledgeable in elder law and special needs planning in the Delray area and we are confident when recommending this dynamic team. They are responsive, compassionate and all-around good people. I would recommend this group to anyone needing estate planning, elder law or special needs planning for their family.

    Ashley G.

    When it comes to elder law, trust and estate planning, and medicaid asset protection, there is no name that is better known throughout Florida than SOLKOFF.  I have used Solkoff Legal for a long time, as has members of my family and clients whom I have referred. Attorney Scott Solkoff and his staff are true experts in this field, are consummate professionals, and have the client's best interests at heart. In fact, I believe Solkoff has received many awards not only for his humanitarian work in his community, but from his peers for his professional excellence.  I would recommend Solkoff to anyone looking for the very best...A+++!

    Marc H.

    We went to Solkoff Legal for advice on elder law. We needed to know what we could do, what we couldn't do, what we should do and what we shouldn't do. They were great.

    Phyllis S.

    Scott Solkoff is a man of principles and integrity. Always willing to share his vast knowledge on Elder Law and is up to date on the changes of the law. I am happy to call him my Elder Law professor and mentor. You simply can't go wrong with Solkoff Law.

    Joseph L

    These testimonials contain information about the firm’s past results, and individual opinions about the lawyers and firm’s quality based on individual experiences. Testimonials are voluntarily written by those with previous experience with the firm. Because each case is different, prospective clients may not achieve the same or similar results.

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