The Role of Financial Services and The Elder Law Office of David Wingate, LLC

For years, our role as Elder Law Attorneys was fairly straightforward. We would counsel our clients and help them with the appropriate legal documents. This might include Powers of Attorney for Finances and Healthcare, and perhaps a Last Will and Testament, and in some instances a Revocable or Irrevocable Trust.

Once clients had the appropriate documents in place, then we advised them to let us know if their situation changed and one of them needed additional care. In that event, we would show them the best ways to pay for that care.

With the recent economic difficulties and the aging of society, money to pay for the cost of care has become tighter. That’s especially true given the fact that there are now nearly 9,000 Baby Boomers turning age 65 each and every day… and that’s a trend that will continue for another decade.

Over the last few years, we have broadened the focus of our practice to help our clients cope with the twin concerns of (1) what happens to my assets when I pass away? and (2) What if I don’t die but become sick along the way and need help paying for the cost of care?

Most of the financial advisors with whom our clients work do a great job in helping their clients accumulate assets to provide for a comfortable retirement. A smaller number of those advisors work with their clients to determine how to pay for care in the event they become sick and need long term care.

The Elder Law Office of David Wingate, LLC assists our clients to ensure they have the appropriate legal documents in place while also reviewing their situation to determine whether there are funds available to help pay for the cost of long term care if needed.

If clients already have a solid relationship with a financial professional, we will work with the clients and their financial advisor.

Other times, we may find that our clients do not have a financial professional involved who is knowledgeable in the area of long-term care asset protection. In that case, we work with trusted financial advisors to set up the appropriate asset protection plans.

Whether we work with our client’s own financial professional, or whether we bring in others to assist in the planning, sometimes the financial advisor receives a commission from an insurance company for the design of the plan and the placement of the financial services solution.

Understand, we consider our primary role to be your attorney first and foremost. We will always operate from a strictly fiduciary perspective which means that we will only recommend solutions that we believe are in the best interest of you, our valued client.


For a complete list of upcoming seminars, visit our website at

Peace of mind is only a call or click away! For an Initial Consultation call The Elder Law Office of David Wingate at (301) 663-9230 or visit

David Wingate is an elder law attorney at the Elder Law Office of David Wingate, LLC. The elder law office services clients with powers of attorneys, living wills, Wills, Trusts, Medicaid and asset protection. The Elder Law office has locations in Frederick, Washington and Montgomery Counties, Maryland.

Notice: this Blog is published as a free service of the Elder Law Office of David Wingate. The information is for general informational purposes only and does not constitute legal advice. For specific questions, please consult with one of our experienced attorneys. We encourage you to share this newsletter with anyone you think may be interested.

Posted on: No Comments

Leave a Reply