What is the difference between a traditional estate planning attorney and what would be considered an elder law attorney?
Estate planning can be done at any time in an individual's life, whereas elder law will be for individuals 55 years or older.
Both estate planning and elder law require putting together documents and plan to maximize the individual's quality of life.
Elder law is for on people 55 years of age or older, focusing on wealth preservation and quality of life. This includes having a power of attorney, the ability to create trust, the ability to transfer assets to a safe haven, and making sure that we've got alternatives.
The government can limit what we can hold, but they can't control what somebody holds on our behalf. So, with elder law, we try to find as many options for you and your family to minimize the tax consequences of gifting assets. We want to avoid guardianship, keep families out of court, and to find that least restrictive option while trying to maintain maximum options of where that senior can live.
If you are looking for an estate planning attorney or an elder law attorney, our team at Richard A. Myers, Jr. and Associates specialize in estate and senior planning in Cleveland, Ohio. Contact us today with any questions and to learn more about our services as your attorney.
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