The difference between these two fields is that the eldercare attorney will handle Medicaid planning, while the estate planning lawyer will be focusing on estate planning. In general, an elder law attorney focuses on estate planning and medical care planning for seniors.
Dec 08, 2021 · The main difference between estate planning and elder law is that an elder law attorney will work with a Medicaid lawyer and will. The attorney will not be involved in planning for the future. While both types of lawyer will assist with estates and Medicaid, the eldercare lawyer will focus on eldercare. They will not do advanced estate planning.
Jan 31, 2022 · The estate plan does not address this need. An estate plan can help you answer the first question, but only a long-term care plan can help you answer the first and the second question. Let’s put it another way. An estate plan ensures that if you have assets when you die, they will be passed in the manner you wish. The key word is “if”.
Jul 23, 2018 · Anyone at any age should be planning their finances and making arrangements so that none of life’s twists and turns will catch you off guard. An elder law attorney can represent, counsel, and assist individuals across many areas of law including: Estate planning: wills, living trusts, insurance; Conservatorship / Guardianship
Feb 23, 2018 · The difference between an estate planning attorney, and an estate attorney is that an estate planning attorney meets with an individual before they pass away. An estate attorney often deals with legal issues after an individual is deceased. On the other hand, an elder law attorney focuses on the specialized needs of senior citizens.
An elder law attorney is often privy to long-term care legalities like nursing homes, Medicaid, conservatorship, and other things that are specifically related to legal issue an older population faces. An elder law attorney is often familiar with state specifics surrounding things like wills and trusts. These laws differ from state to state.
An estate lawyer, and an estate planning lawyer, is someone who specializes in allocating and itemizing how an individual would like their estate handled after they pass away. This includes dividing things like physical property, stocks and bonds, real estate and suggests how to handle things like estate taxes.
Estate planning attorneys write the blueprints for a future event, the passing of his or her client, and help that client protect his or her assets along the way. Elder law attorneys help seniors navigate their changing needs as they age. Many lawyers find that these areas of law often overlap, both in skill and clientele. Because of this, many estate planning attorneys find it useful and beneficial to also offer elder law services. Their existing client-base likely needs elder law services now or in the future. Why not offer more services to existing clientele, with whom the attorney already has a good rapport? It would be advantageous to both the attorney and the client if these additional services were available. Attorneys could increase their workload while the client can stay with the same trusted attorney over their lifespan, as their needs change.
Elder law involves many of the same issues, but for an aging population. As we age, our needs change – both health and legal needs. For example, in elder law, attorneys often help clients plan for the possibility of needing long-term care and how to pay for it without depleting all of their savings. Elder law can also involve helping clients ...
Estate planning, in part, deals with helping clients plan for disability, minimize taxes at their death, and to help their estate pass to their desired beneficiaries under conditions set by the client. Estate planning can also involve asset protection, retirement planning, and business succession planning. Elder law involves many of the same ...
Estate plans should be updated whenever the client experiences noteworthy life changes. Acquiring a rental house, selling an existing home, buying stocks, new children or grandchildren, marriage or divorce are all significant reasons for the estate planning lawyer to recommend revisiting the existing plan.
For an estate planning attorney, it would be a practical choice to expand their practice to include specialization in elder law areas. Estate planning clients will develop elder law needs at some point during their lifetime. Why not be ready to satisfy them? Even younger clients can succumb to illness or disability and the skills used in elder law could be helpful for their needs. Estate planning attorneys often find it easy to expand on their skills to include elder law, since there are similarities and overlapping between the two. Expanding to include elder law in an attorney’s practice can mean the difference between getting that additional business or the client being referred to someone else that does.
An estate planning attorney will likely draft a durable power of attorney and medical power of attorney for their clients, as a part of their estate plan. These documents give a named person the authority to make medical or financial decisions for the client, should the client become incapacitated.
An elder law attorney can help a client preserve assets, fill out and submit the Medicaid application, handle any Medicaid hearings or appeals, talk with Medicaid or nursing home employees, and ensure the client continues to qualify for Medicaid.
As we’ve mentioned, as adults progress in age, there are certain “new” things to think about and consider. What if you find yourself with a health crisis and you need someone else to make your financial or medical decisions? Who will make them? How can you be sure they’ll do what you want?
There is often a great deal of stress that accompanies this question. In many states, the answer on the books is, “Yes.” What is often up for debate or even interpretation is whether or not this filial responsibility can lead to civil or criminal penalties.