Estate plans are only effective when they accurately reflect your clients’ circumstances, as well as current state and federal tax law. Neglected estate plans not only jeopardize your clients’ estate planning wishes but may also negatively impact their loved ones, not to mention themselves. The unintended consequences of an outdated estate plan can result in issues such as, unintended income and/or estate tax consequences; disqualify a special needs beneficiary from receiving benefits; increased fees and costs associated with settling an estate; leaving less for your clients’ spouse and heirs; forcing loved ones into court; disinheriting desired beneficiaries or including unintended beneficiaries.

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.

When it comes to practicing law, time is money and time saved is not only money saved, but also potentially earned. In order to effectively run a law practice, attorneys must learn how to streamline legal processes if they are going to have enough time to promote their services, stay on top of continuing legal education requirements, grow their practices, and have enough time to spend with friends, family and pursuing personal hobbies.