Perhaps because of Hollywood or other fictional portrayals—Knives Out being a recent (and fun) cinematic example—wills and inheritances seem to not bring out the best in people. Most people don’t want to think about the potential for a family fight when it comes to planning their estate.
But, as the old saying goes, ‘failing to plan is planning to fail.’ It’s not just planning for animosity or sibling rivalry—what if your wishes aren’t clear? What if your estate goes through probate and causes misunderstandings opening the family to a stressful and public process? Probate is something you can avoid with the right planning, but you have to take care of now to prevent probate from happening through smart planning and communication.Read More
According to agingoptions.com, the number of aging parents living with adult family members is rising dramatically, with between five and six million elderly adults currently living in a household headed by their adult child. This is a 67 percent increase since 2007. While such a living arrangement is often due to economic considerations, others simply have a strong desire to care for those who cared for them. There are many issues to consider when an elderly loved one moves in; one of those issues is making your home accessible. While the specific upgrades you undertake will depend on the health and needs of your loved one, some of the top home renovation suggestions for seniors include:Read More
According to an AARP survey, about 90 percent of American seniors want to live in their own homes as long as possible. Known as “aging in place,” it’s no surprise that most seniors would much prefer living in their own homes as opposed to facility care. Unfortunately, physical or cognitive issues can often make this a difficult option.
Family members who fully understand the benefits associated with aging in place—a sense of independence, better health outcomes, and the comfort that only “home” can provide—may consider an in-home caregiver for their elderly loved one.
Your loved one might benefit from an in-home caregiver for medical needs as well as with assistance in light housekeeping, routine errands, and other daily living activities. Once you have made the decision to hire a caregiver, it is important that you understand how to choose the best in-home caregiver for your elderly loved one.Read More
It can be difficult to plan for the unthinkable, but if you have minor children, not only is choosing a guardian a “must-do,” it can also afford you peace of mind. You may find choosing a guardian to be challenging, but it does not need to be overwhelming. In a recent blog post, we went over some aspects to consider when choosing a guardian and we’ve also compiled them into an infographic for you.Read More
Today we’re going to wrap up our series on the mistakes we often see in estate planning. While we’re all about planning here at Family Estate Planning Law Group (it’s even in our name), we know that some plans work better than others. Here are our last three reasons why:
Mistake #8: My Estate Planning Attorney Does Not Need to Know My Other Advisors
Many people come to this conclusion because they know that if their estate planning attorney spends an hour talking to their financial planner, they are going to get billed for it. Perhaps you have learned this the hard way. While financial planners, CPAs, insurance professionals, and attorneys practicing in other areas all concentrate on different things, they often overlap, particularly when it comes to your estate plan. Doesn’t it make sense for your team of professionals to start talking to each other now, instead of having to try to figure it out once you are not around to make decisions to clarify things anymore?
The solution to this problem is both simple and challenging. The simple part is to get your team of professionals talking to each other now. The challenging part is to find professionals who won’t charge you by the hour. Working with an estate planning attorney with an ongoing care program allows you to feel confident that they are coordinating with the people they need to in order to make sure your plan is going to work without always having to worry about what the bill is going to be at the end.Read More