Estate Planning, Elder Law, What's the Difference?

Group Meeting discussing Estate Planning

The short answer: Both share similar concerns. The longer answer? The differences make all the difference. 

The Concerns are Similar 

No matter what age, life can deliver some hard knocks. Hope for the best, but plan for the worst. We can get into accidents, especially when we’re young and under the impression that we’ll live forever. Whom would we like to be there for us if we can’t speak for ourselves? If we can’t pay the bills? Decide about our health care?  

Both estate planning and elder law attorneys help you choose people you trust to stand in your shoes when you can’t speak for yourself. 

As adults, we start families and assemble worldly goods. We want to make sure our families are taken care of and who gets our property if the worst happens to us. 

Both estate planning and elder law attorneys help you with those questions. Both know how to protect your estate from tax burdens and to avoid the expense and delay of court proceedings.  

The Differences Make All the Difference 

Elder law expertise becomes crucial when we get older. We’re living longer, healthier lives – but nobody knows when we, or those we love, will get too sick to make decisions or to live independently.  

It’s understandable to postpone thinking about these things. Delay can mean that entire savings get wiped out paying for nursing homes. Misconceptions about government benefits can forfeit eligibility for them. What quality of life can you protect? What housing arrangements can be made? What is the wisest allocation of financial resources to protect against as many foreseeable contingencies as possible? 

These are difficult, complicated questions that require specific knowledge to answer.  

An elder law attorney can help you face these difficult questions with your best interests at heart. We know how Medicaid, Medicare, and Social Security work. We can help you manage retirement income benefits. We can steer you toward financial arrangements necessary if there is a need for long-term nursing care.  

Pearson Bollman Law has offices throughout Iowa.  The attorneys at Pearson Bollman Law practice in the areas of estate planning, probate/trust administration and in elder law which includes Medicaid and VA Pension Planning.  If you have any questions, please feel free to contact us at (515) 727-0986.  

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