When you’re ready to put your future plans on paper, you might wonder if you need an Elder Law and estate planning lawyer. The answer depends on the law firm you choose. If your lawyer has qualifications in Elder Law and estate planning, you do not need two different lawyers. Also, it’s important to note some differences between the two services.
Make sure to keep reading because the law firm you choose will greatly impact the help you’ll receive. A skilled, trusted, and a reputable lawyer will guide you with easy-to-understand, trustworthy information so you can make the best decisions for your future. And at Auld Brothers Law Group, we’re here to assist you. This article will explain how each service works and what you should look for when selecting an Elder Law and estate planning firm.
Elder Law and Estate Planning: Find the Service That Fits Your Life
If you think you need both Elder Law and estate planning services, you might be right. We’ll explain both options so you can learn which service will fit your needs best.
Elder Law Services
The primary focus of Elder Law is keeping your assets (money and possessions) safe while you’re still living. Many adults are concerned that they could lose everything to unexpected healthcare costs later in life and seek help from a lawyer. Typically, adults retiring (or preparing for retirement) or anyone with a disability (or a family member caring for their loved one) will work with this type of attorney.
Here are a few Elder Law planning services that an attorney provides.
- Setting up any necessary legal documents:
- Wills
- Trusts
- Personal care agreements
- Contracts
- Placing money aside to cover unexpected medical costs
- Selecting a Power of Attorney and/or Medical Power of Attorney (you can select different people)
- Medicaid or Medicare planning assistance
Finding a Qualified Elder Law Attorney
Since Elder Law is complex and can change often, find a lawyer that meets the below qualifications and is licensed to practice in your state.
- Compliance, claims, and appeals regarding:
- Medicare
- Medicaid
- Disability
- Social Security
- Asset preservation and transfer
- Discrimination regarding employment and housing concerns
- Guardianship and Conservatorship
- Retirement plans
Estate Planning Services
Estate planning focuses on having legal paperwork drawn up to name your beneficiaries and the assets you want to leave to them after your passing. This process makes everything easier on your surviving loved ones once you are gone.
Adults of all ages will meet with an estate planning attorney and even make changes to their plans throughout their lifetime. Additionally, anyone needing help navigating the Probate process after a loved one passes seeks their assistance.
Here are some estate planning services that an attorney offers.
- Drafting and finalizing Last Will and Testaments
- Setting up and maintaining various Trusts:
- Credit Shelter Trusts
- Family Protection Trusts
- Irrevocable and Revocable Trusts
- Living Trusts
- Special Needs Trusts
- State and federal inheritance tax planning
- IRA and 401k planning
- End-of-life preparations
Finding a Qualified Estate Planning Attorney
Unlike Elder Law, estate planning lawyers should have a wide range of skills in federal laws with Wills, Trusts, and the Probate process. Additionally, they’ll need to be licensed to practice in the state with the assets since many laws differ from other states.
- Understand state laws regarding:
- Living Will
- Last Will and Testaments
- Guardianships
- Inheritance taxes
- Understand federal laws on:
- Medicaid planning
- Tax planning
- IRAs and 401ks
- Review and ask them about their professional credentials
- Look for memberships to associations that help to strengthen their expertise
- Review their services that you might not need now but could need in the future
1 Lawyer for Both Your Needs
We’re a team at Auld Brothers Law Group, and we can help ensure you have peace of mind now and in the future. Our firm’s principal is a passionate woman who goes the extra mile for our clients, Rebecca A. Auld (many of our clients refer to her as Becky). She specializes in both Elder Law and estate planning in Pennsylvania and is a recognizable face in the Pittsburgh community.
Start a conversation with us to learn how we can help with your future planning needs.