Many of us are concerned about the high cost of lawyers, and the feeling that we can now go online and all forms of free and free advice we need. While it is admirable to arm itself with information provided by older Law and Medicaid planning is not a do-it-yourself project!
A simple example: You find a form for a power line and then sign it, or have your parents sign it. It was either free or $ 10, so you feel pretty good about them. Because not only you can save a large legal fee? But what you do not it should be noted that several important provisions were not taken into account by this "generic" power of attorney form, and when the time comes, you must fill out the form, it is too late to be fixed. Her mother is now incapacitated and unable to make a new proxy form, forcing you hire an attorney represent you in a guardianship / conservatorship proceedings. So now you are spending thousands of dollars, while the attorney's fee for the preparation of its top-of-the-line general durable power of attorney is only $ 150 or so.
Another example is with Medicaid planning. You heard or read somewhere that there is a good idea to gift your father away his fortune, so that he described as "poor" applies for Medicaid if he so to protect his money. But you did not know about the recent amendment of federal laws on the calculation of penalties. So, now your father is disqualified from Medicaid eligibility for many months or years, than by a proper and careful planning by a specialized Medicaid lawyer, he could easily have saved half, if not all, of your father the money!
Attorney Billing Methods
It should be noted that not all elderly lawyers the same amount or even with the same method for calculating their fees. First, there is the traditional method of settlement, which is by the hour. Most lawyers charge 1 / 10 of an hour increments x their hourly rate. Be aware that although an inexperienced lawyer is usually a lower hourly rate than that which for many years been concentrated in this area of law, the inexperienced lawyer will undoubtedly much more to find out what to do and do. So that the charges may not be much different at the end of the case, and you will have paid for the education of the less experienced lawyer.
A second method is the settlement, a flat fee for a particular project. The advantage for customers is that they know up front what the costs and are not on the clock to see how carefully. The advantage for the lawyer is that he can be a reward for efficiency and hopefully will be for the many unpaid hours, craft effective solutions to the problems of its customers.
A third approach combines the two, so that the arrangement is $ X for the following documents or legal work, with a maximum of Y number of hours. The idea is that if something comes after the project started, or the customer is very demanding and requires several changes to documents, you have a zillion questions, etc., the lawyer will not be stuck, for free.
In any case, you as a potential customer have every right to ask the lawyer about the setting, what the costs can be for your legal work. Given the facts of each case differ, it may be impossible for the lawyer to give you an exact figure, but you should at least find out what hourly rate and other similar cases, the costs. Also take into account the experience and expertise of the lawyer you are considering. It's no bargain if you saved $ 1,000 in attorney's fees if a less-than-optimal document or plan wind cost you $ 10,000 years from now!
© 2007 by K. Gabriel Heiser
Attorney K. Gabriel Heiser has in his practice to Medicaid planning, elderly law, and succession planning for the past 23 years.
NOTE: For more information about this topic and other Medicaid planning techniques, see http://www.MedicaidSecrets.com, which describes an exciting new 256-page book written by attorney Heiser, "" How do you protect your family's assets from disastrous Nursing Home Costs: Medicaid Secrets. "" You do not have to go broke to Medicaid to pay nursing home bills, you just need to know the rules and techniques of planning. For the first time you can use the insider secrets of the costly estate planning and elderly law attorneys, in attorney Heiser's new book.
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