We wish everyone a Happy Thanksgiving and hope that your holiday is spent enjoying the company of your loved ones. This holiday, while gathered around the turkey, we encourage you to put aside some time to ask your family members important questions regarding long-term care and their estate plan.
Military Family Estate Planning
Thank you to our Veterans for your bravery and sacrifice for this country. We appreciate your efforts to maintain America’s freedom. Happy Veteran’s Day!
In honor of Veterans Day, we would like to dedicate this post to spreading awareness about the resources and special circumstances that go with Estate Planning for military members.
Why Have a Family Care Meeting™?
by Kristin Carroll
Communication is key, and this is your chance!
We get asked about our Family Care MeetingTM a lot these days. Everything from when can I schedule mine to what’s the point? The first question is easy, if you’re a client and you’ve signed your estate plan, give us a call, we’d love to schedule a Family Care MeetingTM for you and your trusted advisors or loved ones! The second question might take a little more explaining.
We often ask our clients, when do you need an estate plan to help care for your family? The somewhat morbid answer is, of course, when you’re no longer around to care for them yourself. Someone else is going to have to administer the plan you created; you won’t be able to do that. Doesn’t it make sense that they have some idea what it’s going to look like before they need to be involved?
In Case You Ever Wondered When You Should Call Us
For years we have been telling our clients, if you have questions or anything changes, call us; however, we are finding we get the question somewhat frequently, “but specifically when should I call you?” Or we find out about a major life change several months or a year after the fact because clients or their family members did not realize that they could or should call us. We thought we would try to clear some of that up and give you some guidelines on when you might want to think about picking up the phone or shooting us an email. We’re here to be a resource for our clients, and we never want you to feel like you just have to figure it out on your own. Here are some reasons you might want to reach out:
Talking With Your Family About Your Estate Plan
Family Estate Planning Law Group’s Family Care Meeting™ is a great way to begin talks with your family about your estate plan. By bringing together your team, which can include your loved ones, our attorney team, a financial advisor, accountant, or any other professional you want included, the Family Care Meeting™ opens up communication, facilitating the conversation and answering questions from all those involved.
After the Holidays
Families tend to be at the center of holidays.
The holiday season is a great time to gather to celebrate and carry on our family traditions. This year, some of our traditions needed to be modified or changed, but I find that most families have adapted and found ways to stay connected. In estate planning, we’ve found that communicating with our families about their estate plan is necessary to ensure their estate plans will actually work, and that their family is taken care of. That’s why we’ve included a family care meeting in our estate planning process, whereby you, your trusted advisers, and your family members meet to discuss your estate plan and how best to take care of you and your family in the event of incapacity and death. Remember, we do not have to disclose the value of assets in these meetings (because we don’t know the value of the assets when you die), but it is important that your family meets your trusted advisors, understands what your intent is regarding your estate plan, and knows that you’ve taken the steps necessary to make things easier for them when you die.
Infographic: How Family Estate Planning Law Group Works With You
In this infographic, learn how Family Estate Planning Law Group will work with your family to create plan that not only addresses your goals and concerns, now, but one that will take care of your family when it matters most. Click the image to view the full infographic:
Are You Setting Your Family Up for an Estate Planning Dispute?
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.
Elderly Loved One Moving In? How to Make Your Home Accessible
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:
Choosing the Right In-Home Caregiver For You
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…]