One of the most common questions presented at the office of our California estate planning lawyers is whether or not elder law and estate law are the same thing. In many cases, people sitting down with our Pasadena estate planning attorneys are hoping to accomplish goals, both in relation to elder law and to estate planning.
However, these are two distinct facets of the law. Elder law estate planning is an area underneath the umbrella of estate planning that evolved to incorporate estate planning concerns with elder law.
The field of elder law has its roots in the early 1990s, aimed at helping people apply for government aid in the form of Medicaid to pay for nursing home costs. In the early 1990s, AARP completed a study and recommended that most families use living trusts as their estate planning tool rather than wills. This led to what some experts call a living trust resolution.
Estate planning has its roots in efforts to minimize the tax implications on an estate when a person passes away. Elder law, however, looks at the many different benefits of accomplishing estate planning goals now to have peace of mind in the future, should the person in question become reliant on nursing home care.
If you are interested in discussing your elder law planning options, schedule a consultation with our Pasadena estate planning attorneys today to create a customized plan for your needs and your future.