Spending the later years of life in a nursing home or other long-term care facility seems like a distant possibility to most Americans, but with two-thirds of elderly Americans needing long-term care, preparation may be the most important element of aging.
When considering your options, a great source of information for those preparing for aging at home or a care facility with or without family support is available from Carol Marak on her website https://www.seniorcare.com/. She has also been interviewed by NPR – and that article can be found here: http://www.wbur.org/hereandnow/2017/08/15/elder-orphans (Please note, while we have personally spoken with Ms. Marak and believe her and her site to have a wealth of information – we can not verify the factuality and authenticity of the content).
In addition to considering Ms. Marak’s points, another area often left until it is too late is the implementation of a proper estate plan. Estate documents are often an afterthought of aging, but like a good support plan – when put in place, a carefully put together estate plan can eliminate stress and complications that your loved ones will otherwise be forced to face during your elder years or after you have passed. These documents include but are not limited to a power of attorney and advanced medical directives for while you age – to documents for the transfer of your assets – including something as simple as a short will – to as complicated as a mixture of will, revocable and irrevocable trusts. There is no one set estate plan that works for everyone. What is best for your family will be determined by the people in your life and the assets you wish to transfer.
If you would like assistance in creating a Virginia or Florida estate plan and prepare for the future, please feel free to contact the estate law attorneys at Winslow & McCurry, PLLC at (804) 423-1382.
