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No trusts involved. We already have my parents' wills, living wills, and POA as I mentioned (though this attorney would re-write it if he could because what we have is rather generic; theirs would be more detailed in all major areas). But he also says he won't push it if meeting with my parents become difficult.
It's possible neither of my parents will end up in a nursing home but I'm told taking these actions to protect their assets is worthwhile. Since we're in that wait-until-something-happens phase (like so many of you), I'm anxious to try and do SOMETHING. My parents don't have a lot but I want to maximize what they do have (not for my own benefit but for their quality of life and care); this is a lot of money to spend in an area I have no expertise.
I hadn't considered a Fiduciary. Would that person also have a long view of asset protection in the event of life changes and needs of care? Forgive my naivete. And thank you all so very much.
Like others had mentioned, the cost depends on location. If you live in a large metro area the hourly rate will be much higher then that in a smaller city. Also, it depends if you use a large law firm, or an one or two person office. I went with a firm, in case our Elder Law Attorney moves away, the firm has other Elder Law Attorneys to choose from.
An Elder Law Attorney is good to have if one needs to get Medicaid [which is different from Medicare] for ones parent[s] if they should need to go into a nursing home and have run out of funds. Said Attorney can climb through the maze and explain the terms.
My parents, mainly my Mom, refused any strangers in the house, thus any hired caregiver was shooed out of the house. So I just had to wait, like many of us on this forum, for a serious medical emergency to get any changes made for the care and safety of stubborn parent(s).
The best way to do this would be to look up Certified Elder Care Lawyers in their area and call and ask what the fees are.
If they are very resistant to accepting help it may come down to possibly filing for Guardianship. (don't do this if you can possibly avoid it) But if both have dementia it might have to be done.
You don't really need an attorney to organize their assets. A Licensed Fiduciary will do as well (and by that I don't mean a money manager making his money off investing). You seem to have the paperwork. If they have wills in order that is great. You can manage their estate or you can ask a Fiduciary to do much of it, paying bills, etc, or do it WITH the fiduciary. Spend one hour (likely 350 to 450 with the attorney and ask for recommendations of Fiduciary (they work with them in Court Cases where State is appointed to manage for Seniors with families at war.) A Fiduciary in California asks approx. 90.00 an hour and are licensed. Some states don't require licensing. Once all bills are going to them, and etc. the management comes down to only about an hour a month in a simple estate. So explore that is but one suggestion for you.