How to Create a Loving Gift through Estate Planning
As a senior adult are you working with your qualified Florida estate planning attorney on your estate plan? Is your goal to create the gift of an estate plan that will bring peace and confidence to the ones you love that their future is provided for no matter what comes their way? Are you also providing for yourself and your wishes for your future so that the ones you love will not have to worry about what you would want and whether you can afford it? On Valentine’s Day, what a loving gift an estate plan is to give your loved ones. We have a few suggestions for your estate plan that we would like to share with you.
1: In addition to an estate plan, have a long-term care plan. Along with estate planning, long-term care planning is extremely important. By creating a long-term care plan now you can protect your loved ones from having to deal with the need to cover any costs for caregivers, assisted living or even a nursing home. Truly a loving gift. Because the cost of long-term care is rising, it is important to be prepared to create a plan to afford the long-term care that may be needed in the future. This is a critical and loving gift to create so that your loved ones are not left struggling to pay those costs. Many Floridians do not realize that failure to create a long-term care plan may cost them their goals for the legacy they create for their loved ones.
Also, let your loved ones know about your long-term care planning so that you can be sure everyone is in agreement. Again, speaking to an experienced Florida estate planning attorney is an important next step in the development of your long-term care plan. Your Florida estate planning attorney is also knowledgeable about elder law issues and understands your goals and needs and can help you prepare the appropriate planning documents.
2: Retirement plans and funds should be included in your estate plan. You will want to use your retirement savings as a loving gift to loved ones in the future so it is necessary to include these savings in your estate plan. This is the way you begin to create your loving legacy, which is how you will both protect yourself and your family’s future. By creating a legacy for your loved ones now, they are protected in the event something happens to you.
3: With the guidance of your qualified Florida estate planning attorney you can create the legal documents you need to give as a loving gift to your loved ones. Your Florida estate planning attorney will know the legal documents you need to include in your estate plan and any long-term care planning you do. She will help you create your will and include a trust if needed. She will also assist you in creating those documents you will need if you become incapacitated and unable to make your own decisions in regard to finances and health. You will be able to now choose the trusted person or persons you want to act for you and carry out your wishes. You will be giving your family the gift of peace that they will not have to make those decisions for you, but rather that you have already handled any situations that may arise, including end of life decisions. Also, creating your estate plan will ensure your loved ones are taken care of in the event of your sudden incapacity or your passing away.
These are just a few of the ways you can plan to protect your loved ones and make the plans you need to provide for them when you are gone. As we reflect on Valentine’s Day and show those in your life the ways you love them, now is the time to get started. Preparation is key to successful planning and to help you accomplish your goals.
Do not wait to contact our law practice to learn more today. We encourage you to contact us and schedule a meeting. To learn more about Meloro Law and how we can help you when you need legal representation for estate planning or elder law issues do not wait to call us today.