As the saying goes, “failing to plan is planning to fail!” Many people plan for post-mortem, noting who will receive specific material items when they pass away; however, some people fail to plan for later in life, when care options may be needed. Having a plan in place when the time comes, allows for peace of mind for all, including your loved ones.
Engaging in difficult conversations with your family may not be easy, but when working with experts, the conversation flows easily and some of the toughest questions are answered. Understanding options prior to a crisis is the key to successful planning. It’s always best to make an informed decision before a crisis takes place.
There are many laws pertaining to trust and estate planning. Older adults will benefit from working with an Elder Law Attorney who specializes in this area of law and who stays up-to-date on changes that occur at the state and federal level.
Many of our clients believe that “an estate plan or trust is only necessary if or when Medicaid is needed to cover the expense of care services”. The reality is that every older adult should consider working with an elder law attorney for tax purposes and to avoiding probate court, which can be time consuming and costly. Many people are apprehensive about the cost of legal planning, but investing in an elder law attorney can save you hundreds or thousands, in the long run, by avoiding tax penalties and potential expensive care costs.
One of the greatest gifts you can give yourself and your loved ones is the gift of preparedness. Having your affairs in order alleviates stress and allows you to identify your wishes for yourself, taking the burden off others and ensuring that your wishes and needs will be met.
For more information or to find a local elder law attorney, visit: www.naela.org
Our team of Certified Senior Advisors® and Certified Dementia Practitioners® has helped hundreds of older adults and their families. For more information or to schedule a free consultation, call 617-227-1600 or email firstname.lastname@example.org.
Dovetail Companies provides one point of contact for all services seniors may need when transitioning from their longtime home, minimizing stress and providing peace of mind to focus on the transition rather than the logistics. Dovetail Companies is the parent company to three subsidiary companies; Dovetail Support Services, Dovetail Financial and Dovetail Real Estate Group. For more information, visit www.dovetailcompanies.com or call 617-227-1600.