The Elder Law and Estate planning attorney serve two different — but equally vital — functions.
The main difference is that elder law attorney is focused on preserving your assets during your lifetime, while estate planning concentrates on what happens to your assets after you die.
Elder law planning is concerned with ensuring that seniors live long, healthy, and financially secure lives. It usually involves anticipating future medical needs, including long-term care. Elder law attorneys can help you develop a plan to pay for future care while preserving some of your assets.
They can also assist you with designing a plan to qualify for Medi-Cal or other benefits to pay for long-term care. In addition, elder law planning can ensure that you are protected from elder abuse or exploitation when you get older or become incapacitated. Finally, elder law covers assistance with guardianships and conservatorships.
While elder law is focused on older adults, estate planning is for everyone of all ages. Estate planning attorneys help you determine what will happen to your assets and beneficiaries after you die. Estate planners use wills and trusts to make sure your wishes are carried out after you are gone. Your estate plan can also include naming a guardian for your young children or provisions for pets. In addition, estate planners can help you avoid probate and save on estate taxes.
Estate plans can change as your circumstances change, so it is important to keep revisiting your estate plan over the years. For example, marriages, divorces, births, and deaths, as well as changes in finances. Your estate plan may need to be changed as your life evolves.
We at Copenbarger & Copenbarger are both Elder Law and Estate Planning Attorneys. If you have any further questions about strategies to shield your wealth, or if you’d like to have your current Trust plan reviewed to make sure it still meets your needs, please contact us at our California office at 800-244-8814 to set up a consultation.