It is a common misconception that Estate Planning is just for wealthy people, while Elder Law is only for aging adults and seniors. In reality, however, neither is true. Everyone can benefit from thinking ahead to the future and planning accordingly, regardless of age. We know that planning for the future can be overwhelming to think about, but having an understanding of your unique planning goals and needs is important for you and your loved ones. This is why we want to share with you some information about both Estate Planning and Elder Law, so you can make an informed decision about the right type of planning for your unique goals and needs.
We can all benefit from an estate plan, regardless of how much our assets are worth. Unfortunately, it is a reality that anybody can be affected by unexpected circumstances that alter the course of your life. An Estate Planning attorney can help you think ahead, prepare, and plan for emergency situations, as well as the distribution of assets after your death. It is important to start thinking about your estate plan early and update it periodically as your circumstances change. This can help minimize taxes, avoid probate, and most importantly, protect yourself and those you love in the future.
An Elder Law attorney, on the other hand, can accomplish most of what an Estate Planning attorney can, but more. As the population ages, people are living longer and healthier lives. This means, however, that you may need to be more proactive in your legal planning to account for this. An Elder Law attorney can help you accomplish this by finding solutions for your financial and medical needs as you age. Have you considered, for example, how you will pay for the rising costs of long-term care? How about how to apply for and obtain any benefits you are entitled to? An Elder Law attorney is an effective individual who will have your best interests in mind while you face unique and inevitable changes that come with aging.
These are a few of the differences between Estate Planning and Elder Law. We encourage you to ask us your questions about the types of legal services you need and gain insight on the steps you need to take. Remember, we are here to help you find and obtain the planning you need both now and in a crisis.