Elder Law vs. Traditional Estate Planning
Recently, at two different MCLE (continuing legal education) presentations, I spoke on the “Elder Law Essentials.” The goal of the presentation was to distinguish the solutions of elder law vs. the solutions underlying traditional estate planning. I was originally trained as a tax attorney, and my principal estate planning solutions were motivated by the client’s desires to:
- Minimize or avoid estate & gift tax costs; and
- Minimize or avoid probate expenses; and
- Minimize problems at the time of ultimate distribution to heirs/beneficiaries.
- How are we going to maintain sufficient income?
- How are we going to pay for Bob’s health care needs?
- Will I ( the healthy spouse) be forced move out of my home by health care expenses?