Elder law not only focuses on the planning for the individual when they pass, but also what can be done for them when they are alive. In addition to traditional estate planning tools like wills, trusts and powers of attorney, elder law can also utilize other tools to facilitate a smooth transition into one’s later years. Some examples of these tools and tactics include Special Needs Trusts, Qualified Income Trusts (aka Miller Trusts) and assisting the family with care options, be it at home or in an outside facility.
Elder law is becoming increasingly more important as health care law changes and the fact that the Baby Boomers are fast approaching the age of retirement. Statistics say roughly one person turns 50 every seven seconds! Add to that the advances in medical technology and the longer life expectancy of Americans, and one can see the importance of elder law.