Elder Law and Estate Planning Part 1

Elder Law and Estate Planning Part 1 (1)

Elder Law Planning Part 1

 

What is Elder Law?

 

Elder law is simply the legal practice that focuses on the issues that affect the elder or older population.   That is kind of a big answer isn’t it? Well, it is. Elder law is not just cases that involve elder abuse, but any issue that affects the elderly. I am an Estate Planning attorney here in San Diego, and many issues that affect almost all of my clients, young or old, also affect the elderly among us. Estate planning touches almost all of the elder law issues that come to mind first such as:

  • Preventing elder abuse
  • Preventing elder financial abuse
  • Protecting and preserving assets
  • Providing for and planning for incapacity
  • Passing on our property to those we wish to pass it to
  • Managing healthcare costs
  • Managing long term care

 

An Estate Planning Attorney Better Understand Elder Law Issues

 

If estate planning and elder law are not inextricably linked, they are fast becoming more and more blended. With the issues of elder law that cross-over to estate planning, and the growing population of seniors, an estate planning attorney does his or her client a disservice by not addressing these issues with the client, even if the client does not take it upon themselves to ask. The Society of Actuaries has said that the population is aging, and growing faster than the general population. The Society of Actuaries has said that from the year 2000 to 2050, those in the age group of 65 years of age and older will grow by 147 percent, while those younger than that will only grow by 49 percent. You can look at the Society of Actuaries website here.

 

This increase of longevity is concerning because for many of us it presents a “risk” to our financial well-being. It is a risk to our financial well-being because of rising healthcare costs, problems that the Affordable Care Act (or ACA or Obama-Care) created, and because long-term care costs are also going up.

 

 

All of these issues and more will continue to be addressed in my blog.

 

See lots of estate planning information on my website at: www.myestate-plan.com

 

Please feel free to give me a call today and we can review your situation and other Estate Planning goals. Everyone’s situation is different, and I can help create solutions.

 

Thank-you for reading.

 

William Daniel Powell (Dan)

619-980-2297

This email address is being protected from spambots. You need JavaScript enabled to view it.

 

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This document is for informational purposes only. Nothing in this is to be considered legal advice. Nothing in this shall create an attorney/client relationship, nor shall it create a confidential relationship. If you need legal advice (in California), feel free to contact me or someone licensed to practice in your jurisdiction. I assume no liability or responsibility for actions taken, or not taken, as a result of reading this information

Also, please remember that I speak in generalities in my blog and my website. There are so many different factors that can contribute and completely change the outcome that it would be impractical to discuss all of them here.

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