The practice of elder law is a fairly new field within estate planning. I have been in practice for over 30 years, and in private practice for over 20. As a Baby Boomer, my estate planning practice has evolved over the years into an elder law/estate planning practice. My parents are both gone now, but as they grew older, I adapted to their needs regarding not only regular estate planning, but asset preservation, and what I call “Life Care Plannning.” Many of my clients are now Baby Boomers who come to see me about their parents’ long term care plans, public benefits planning, etc. We also discuss the Baby Boomers’ long term care plans, as we Baby Boomers are entering our 60’s. Yikes!
Traditional estate planning involves estate tax issues, avoiding probate and distribution of assets upon death. Elder Law involves these issues, but is focused also on preserving assets and options, as we live longer lives. Asset preservation, disability planning and care planning are part of the picture. One of the goals is to preserve our assets for ourselves and our families, from the high cost of nursing home care. Government benefits planning, including Medi-Cal and VA planning, and applications for these government benefits, is part of the practice of elder law. When looking for an elder law attorney, inquire as to whether the attorney’s practice is dedicated to these areas of the law.
You may visit my web site at https://www.walnutcreekelderlaw.com/ for further information. Also, you can check out one of my newsletters on this topic at: https://www.walnutcreekelderlaw.com/Newsletters/GiftToParentsOfBabyBoomers.html Thank you, Michael J. Young, Attorney at Law