Most people are familiar with estate planning: planning for what happens to your assets after you die. Less people are familiar with elder law planning: preserving your assets during your lifetime so you don’t go broke before you die.
Elder law planning works to ensure that seniors live healthy and financially secure lives. It entails holistic planning to anticipate future health needs, preserving assets, securing your wishes and intentions as it relates to your care and what you want to happen with your things, and helps protect from elder abuse or exploitation if you become incapacitated.
While estate planning focuses on all ages, elder law planning is focused on older adults and the circumstances that they face or are likely to face with aging.