1) The Do It Yourself Last Will and Testament that does not work because it is improperly executed, has inconsistent clauses and/or fails to address tax issues, children with special needs, children who cannot handle money.
2) The Do It Yourself Power of Attorney that does not work because it is in the wrong form, lacks successor agents, is improperly executed, lacks modifications for Medicaid planning, lacks a statutory gifts rider, contains language that creates a general power of appointment in the agent thus raising serious asset ownership and tax issues;
3) Trust and Estate Attorneys Who Do Not Recognize Asset Protection Issues common to senior citizens and ignore asset protection in the Wills and Powers of Attorney drafted for their clients.
4) Do It Yourself Long Term Care Asset Protection Schemes based on urban legends, rumor and neighbors’ stories. Usually these strategies have no basis in law, provide no asset protection and actually reduce the options available for asset protection due to the delay in taking steps that will actually work.
5) People Who Shop for an Attorney Based on Price rather than the legal skills and value a qualified attorney can bring to the client’s situation. If you call enough attorneys, you may eventually find one who will work for a bargain basement price. That attorney may not be the one best able to address the your Elder Law issues.
When looking for an attorney for Estate Planning, Medicaid Planning, Asset Protection or other Elder Law issues inquire whether the lawyer is a member of the New York State Bar Association, Elder Law Section and whether the lawyer is a member of the National Academy of Elder Law Attorneys [NAELA]. Attorneys who are members of these two organizations have the resources available to properly counsel you in how to address your Estate Planning and Elder Law needs.