The different types of asset protection trusts which can be established for the elderly population can be confusing and overwhelming — not only for clients but even for elder law attorneys themselves. Particularly if you are a new elder law attorney, knowing which trust is right for your client can seem daunting.

But with some knowledge about these different types of trusts, you can glean the insight you need to properly advise your clients. In this article, we’ll take a look at four types of trusts — Medicaid Asset Protection Trusts, Medicaid Family Protection Trusts, Veterans Asset Protection Trusts, and Parental Protection Trusts — and when to use them.

May through July is a busy time for parents. Many of your clients may be celebrating their children’s academic achievements, and even getting ready to send them off to college. During this hectic and emotionally tumultuous time, parents may be all-consumed with helping prepare their soon-to-be college student for the next phase, causing them to overlook important estate planning matters.

This is where you—the estate planner—come in. Now, is the perfect time to help remind your clients that there are a few important things they should add to their to-do list as they get ready to send their kids off to college.

When it comes to practicing law, mistakes can and do happen. Despite our best efforts, they can sneak into even the most thoroughly reviewed document or estate plan. Most clients can forgive the occasional error–attorneys are human after all. However, when it comes to big mistakes, especially those that cost clients money or don't meet their estate plan goals, can result in ruined client relationships and even negatively impact your practice's integrity.