The Estate & Asset Protection Law Firm Managing Partner, Shannon Pawley, Writes About The Important Planning And Legal Needs Of “Elder Orphans.”
Estate & Asset Protection Attorney and Managing Partner, Shannon Pawle, writes about Agent and Trustee strategies for childless seniors and those whose families have pre-deceased them.
DECATUR, GA, January 04, 2020: Shannon Pawley, Managing Partner of The Estate & Asset Protection Law Firm, has posted a new article on the law firm’s website entitled “Helping Elder Orphans Plan For Long-Term Care,” in which Ms. Pawley goes over some of the most important considerations.
Pawley writes, “When you hear the word “orphan” it typically conjures up images of young children whose parents have either died, are unknown or have permanently abandoned them. However,” she continues, “the word is starting to be used for a growing segment of adults. I recently read a Kiplinger article stating that, “As baby boomers age, the number of childless seniors, both couples and singles, is rising. Close to 19% of all women ages 80 to 84 will fall into that category in 2050, up from 16% in 2030, according to a study by the AARP Public Policy Institute. Recent research by a geriatrician at the North Shore-LIJ Health System in New York coined a name for these seniors: “elder orphans.” https://www.kiplinger.com/article/retirement/t023-c000-s004-childless-seniors-need-to-build-a-safety-net.html
As Pawley points out, “This is an important demographic statistic since these men and women do not have the safety net that many other seniors take for granted. They don’t have adult children who monitor the signs of aging, nor anyone to help them navigate the complex system of health care, housing and social services.” She states, “It is very important, if you are an elder orphan to plan ahead for your elder years and establish legal documents that will protect you should you become incapacitated.”
According to Pawley, “As an elder orphan, the most important first step is to create a durable power of attorney and choose an agent to manage your financial, legal and tax affairs if and when you become unable to handle these tasks.” She adds, “Sometimes childless seniors will choose a relative, a niece or nephew, cousin or sibling or a trusted friend for this role. If you end up going this route, it is also important to consider the potential work that may be involved. With this in mind, you’ll want to include in your legal documents that the person handling your affairs should be compensated.”
The entire article can be read at https://www.elderlawgeorgia.com/articles/helping-elder-orphans-plan-for-long-term-care/
About The Estate & Asset Protection Law Firm
The Estate & Asset Protection Law Firm was established to serve the legal needs of retiring citizens. The Firm focuses its entire practice on providing strategies to protect independence, privacy, assets and taxes from the government. Victoria Collier and Shannon Pawley have grown their law practice by providing excellent customer satisfaction with personalized wealth protection plans.
About Victoria Collier
Victoria L. Collier, CELA founded The Estate & Asset Protection Law Firm to serve the legal needs of retiring individuals. In our firm, WE BELIEVE that people should not have to lose everything they’ve worked a lifetime to earn and that every person is an individual who deserves respect and the highest quality of life possible, regardless of age or ability. We also believe that privacy and protection are the keys to personal peace.
Victoria enlisted in the U.S. Air Force during Desert Storm, 1989-1995, and also served in the U.S. Army Reserves, 1Lt. 2001-2004, JAG Corps. Victoria is a national expert on the VA Wartime Pension for veterans and their widows who need additional assistance with activities of daily living and helping them qualify for and receive tax-free income from the VA to pay for it. Victoria graduated from Valdosta State University with a B.A. in Psychology and then University of Nebraska, College of Law. In 2014, Victoria was awarded with the Alumni Master Award from the University of Nebraska.
Victoria is a Certified Elder Law Attorney (CELA) through The National Elder Law Foundation and has been named as the only attorney in Georgia as “Fellow” of the National Academy of Elder Law Attorneys (NAELA). Victoria was appointed by Governor Perdue to the Georgia Council on Aging, 2010 – 2016 and was awarded Dekalb County Veteran of the Year, 2013. She is the author of 47 Secret Veterans Benefits for Seniors; Paying for Long Term Care – Financial Help for Wartime Veterans: The VA Aid & Attendance Benefit. Victoria has co-authored several books: Blooper Episodes in Estate Planning, Don’t Go Broke in a Nursing Home, and Protect Your IRA: Avoid the 5 Common Mistakes. Most notably, Victoria co-authored the National Best Seller, The Road to Success, with Jack Canfield, author of Chicken Soup for the Soul series.
About Shannon M. Pawley, J.D., LL.M
Shannon is the firm’s Managing Partner. Born and raised in the Tidewater area of Virginia to a tightknit family with strong military service roots, Shannon learned from an early age the value of hard work and the importance of social awareness to ensure you always leave a situation in a better place than how you entered it. In her junior year of high school, Shannon served as U.S. House of Representatives Page during the 101st United States Congressional Session in Washington, D.C. This experience exposed her to numerous new cultures and worldly issues. Walking away from her experience as a U.S. House of Representative Page, Shannon knew that she wanted to pursue legal studies and be able to assist others in obtaining the best results available in difficult situations.
Shannon earned her undergraduate degree at North Carolina Wesleyan College and pursued a law degree from Michigan State University College of Law. After obtaining her law degree and becoming a licensed attorney in Michigan, she continued her educational pursuit by acquiring a LL.M. (Master of Law) in Taxation from Wayne State University.
In her professional tenure, Shannon has represented the full spectrum of clients from international blue-chip companies to single parents. While she prospered as a litigator, Shannon began to realize her natural talent was as a mentor by developing others in their practice and procedures. That led her to focusing more on the operational aspect of the legal practice. Prior to joining The Estate & Asset Protection Law Firm, Shannon was the Vice President of Litigation Operations with a national law firm overseeing the litigation offices across the United States.
Through her partnership with Victoria Collier, Shannon has found a professional peer who shares her passion to assist others to age with dignity, grace, and independence. Together, they strive to improve the life of each client they interact with while preparing both the client and their family for the difficulties that come with aging. Shannon is licensed to practice law in both Georgia and Michigan. In addition, she is a VA Accredited Attorney.