“Thought for the Day” #962 – by Stephen R. Elville, J.D., LL.M.

May 4, 2017

Since May is National Elder Law Month, let’s define what elder law is.  Although it is defined in many ways, essentially elder law is estate planning with an emphasis on planning for disability, dealing with cost of care and other health care-related and age-related issues, and asset preservation.  Elder law encompasses many aspects of conventional estate planning (wills, trusts, powers of attorney, advance medical directives), and also specifically addresses the following non-exclusive set of issues:  long-term care financing; estate, gift, inheritance, and income tax; housing; assisted living and nursing home placement; Medicare and Medicaid; Social Security; guardianship; special needs planning; public benefits; veterans benefits; fiduciary representation; probate (estate administration); and trust administration.