Elder law is an attractive and rewarding practice area for anyone passionate about helping people. And because it’s an area where there is seemingly unlimited potential for growth — with approximately 15 percent of the American population comprised of adults ages 65 and over — it can also be a very lucrative one.

Once you decide to start an estate planning practice or expand your existing practice into estate planning, you need to make the time and effort to learn the basics, including vocabulary, strategies, and documents. Without a basic understanding of these estate planning principles, you’ll struggle to present your value to potential clients and implement estate plans for the clients you do win.

Elder law is among the most rewarding areas of law. Today, approximately one in seven people is an elder and some figures project this population to reach approximately 98 million by the year 2060. These numbers are also an indication that your elder law practice will be very lucrative for many years to come. There is no question that there is plenty of reward — both personally and financially — for elder law attorneys. But when it comes to the unique knowledge base that’s necessary to succeed, there is a lot that must be learned and understood.