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Lifestyles over 50

What Is the Difference Between Elder Law and Estate Planning?

Aug 15, 2023 10:08AM ● By Stanley M. Vasiliadis, Esquire, CELA
Elder law and estate planning serve two different—but equally vital—functions. The main
difference is that elder law 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 qualifying for Medicaid 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 guardianship and conservatorship, if needed.

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 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, can all call for updates to your estate plan.

Contact Vasiliadis Pappas Associates for assistance with your elder law AND estate planning
needs. We do both!