A common misconception that we frequently hear is the notion that Estate Planning is Elder Law. Both are important. But they are not the same.
Protecting the Senior Population
Elder law covers a broad sphere of legal issues faced by a maturing population, including the rights of our elderly family members. This includes protecting seniors from abuse, preserving their assets in the face of significant elder care and living expenses, and ensuring access to medical care.
Elder law often involves long-term planning for a client’s future medical needs. It is important to take steps to ensure your that family members’ financial and care issues are addressed if they should become unable to make decisions on their own. By working with an elder law practitioner, you make plans for medical care you may need should you become incapacitated in the future.
Another central focus of elder law is preparing to qualify for Medicaid, VA benefits or other benefits earned or the may become available. In some cases, programs will have strict income or asset tests. Elder law attorneys help make long-term plans to take program qualification into account.
Estate Planning Is Implementing The Client’s Wishes After Death
Estate planning is proactive; taking steps so you can plan for the distribution of your property and valuables after you are gone. Failing to develop an estate plan leaves the possibility that someone else will make these decisions for you. It is important to you to direct who will receive your gifts, protecting their inheritance when the time comes, avoiding court delay and additional expense. And more. . .
Estate Planning Is Planning For Lifetime Issues
Talking with an Estate Planning attorney should also include considering how property and health care decisions can be made for you if there is a time that you are incapacitated (permanently or temporarily).
And of course, there are tax considerations, and many other important events in your life that are also worthwhile to discuss with your Estate Planning Attorney — like business succession planning, preserving or selling your home or investment property.
Finding the right “fit” between you and an Attorney for these important discussions is the first step. Reach out to Attorney Marc Sherman or Attorney Maureen Meersman, https://mshermanlaw.com/contact/. Start the conversation. There’s no reason to wait.
