Large aging populations around the world continue to challenge the world’s governments to serve ever-increasing numbers. With advances in medical practices over the last 100 years, the average age of men and women has increased dramatically. The problem of a growing aging population is also considered a problem legally, the general legal term surrounding these problems is elder law.
Elder Law is made up of three main categories that can be broken down into deeper topics. The three themes are:
- Estate planning and administration, including tax matters
- Medicaid, disability, and long-term care issues
- Matters of guardianship, conservatorship and commitment
Estate planning and administration, including tax matters
Estate planning is the main focus of this category. It does not matter if you are a billionaire or not, once you pass away, the process of knowing who gets what parts of your estate is not easy. Having a will is the best way to ensure that the process goes smoothly and that you can rest easy knowing that your estate will be used as you wish. Hiring an estate planner will help you with all the technical aspects of probate, including the dreaded tax situation.
Medicaid, Disability, and Long-Term Care Issues
Elder Law arose due to the aging of the population. Naturally, as people age, more medically related problems naturally occur. Medicaid is a state-funded program to support low-income people. This program is crucial to ensure that the lives of the elderly do not decline. All 50 states have opted for Medicaid to ensure everyone can access health care. Disability and long-term care issues are plans for those who need 24-hour care. With the older generation, there are fewer people working relative to the proportion needing care. Working in this industry is about distributing funds to meet the increased demand equitably.
Matters of guardianship, conservatorship and commitment
This category is quite simple to understand. As one ages, a disability or mental impairment may mean that one cannot act rationally. By court order, someone can be appointed as guardian or conservator on behalf of the estate or can also take charge of the day-to-day life of the conservator. The above three terms are interchangeable depending on the state to which the problem relates. The most common form of disability requiring guardianship is Alzheimer’s disease. The court may appoint an attorney to be the conservator if there is no suitable person near the person.
As the world continues to evolve, the needs for professional services in all industries wax and wane. With the increasing age of the population, the need for people educated on the various Elder Law issues will increase. The main categories are big enough that specializing in one of the categories would allow people to move on to other areas if they wish.
