Pruning should be done just to remove dead branches.
I have an elm tree (50 years old/approximately feet tall) that has leaves that are wilting, partially turning brown, and falling off. What is it and what can be done to save it?

There are several thing that could be wrong here. It is very difficult to tell without seeing the tree, stumpdrop.clubg: Corona CA.
Dutch elm diseaseOphiostoma ulmi and Ophiostoma novo-ulmi.
Like most deciduous trees, the American elm sheds its leaves in the fall.
Leaves turn yellow, wilt or shrivel, turn brown, then fall off the branch. Initial infection occurs on one branch; disease may quickly progress to all branches. Peel back bark on symptomatic branch to reveal brown streaking on wood. Healthy elms neighboring infected elms soon show symptoms due to spread through root stumpdrop.clubg: Corona CA.
Jul 31, Protect the tree from stresses such as soil compaction, excavation, or drought. Avoid wounding the tree in any way. Do not insert pipes to relieve pressure. Elm yellows (Phloem necrosis) Leaves yellow and wilt over the entire crown of the tree and fall prematurely in summer. Trees may die within 1 year. Roots are killed early in disease stumpdrop.clubbility: Out of stock.
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Elm leaf beetles feed on the tender, juicy leaves of American and other elms. Usually, this does not pose a health threat to the tree, but severe infestations can be unsightly. The bugs chew on the Author: April Sanders. May 14, The insect is an elm leaf beetle, and it chews small round holes in elm leaves.
A heavy infestation of the beetles can actually defoliate a tree, and multiple years of this will weaken the tree and cause its stumpdrop.clubg: Corona CA.