The term “elder law” refers to a diverse area of legal practice — in essence, any legal matters that affect senior citizens fall within this category. For instance, an attorney who practices elder law is likely to be knowledgeable about wills and trusts, powers of attorney, Medicaid planning, retirement planning, long-term health care directives, and many other concerns that tend to arise as clients reach senior status.
The practice of elder law has become increasingly common in recent years, especially since members of the baby boomer generation started reaching retirement age. People in general are living longer, and, for this reason, it’s more critical than ever to put an appropriate plan in place to provide health care for them as they age. And, for the sake of their families, it’s also prudent that they create a plan to protect their assets for the next generation.
Of course, most of us don’t think about these types of legal concerns until we hit retirement age or have to help our own elderly relatives. But the truth is, it’s never too early to begin building a plan that protects your legacy and accounts for your health care needs now and in the future.