While the paperwork is vital, especially when family members disagree, family discussion can be even more important. Advance Directives should be part of a broader discussion, including how do you want to be cared for and by whom, where do you want to live and what do you want out of your final years?
Planning ahead for your own disability is a difficult step to take because no one wants to believe it can happen to them; but it can happen. Take a look at the following article we found on Forbes.com. Know your options and put a plan in place. Strohschein Law Group is hosting a FREE one hour Lunch&Learn workshop – “Life Care Planning – Getting and Paying for Good Care When You Need It” on Tuesday, June 18th starting at Noon. It’s better to prepare for what your options can include before getting in the tangled web of bureaucracy explained below.
Strohschein Law Group is dedicating the longest day of the year, June 21st, to provide awareness and help in the fight to end Alzheimer’s. Our staff will be available by appointment and walk-in to prepare your ~
Durable Powers of Attorney for Healthcare and Property FREE of charge
Friday, June 21st 9:00 a.m. – 5:00 p.m. at our office in St. Charles
To sweeten the deal, we will send you off with a root beer float to enjoy the first day of summer! All we ask is that you leave a donation for the Alzheimer’s Association.
Without warning, Mom’s medical situation takes a significant turn downward and she goes from being independent and on her own, to needing 24/7 care in a very short period of time. The adult children rally to find a short term and long term solution since they don’t know how this will play out in the coming weeks and months ahead.
After the hospital and rehab at a local nursing home, Mom returns home. Initially the children take shifts to address Mom’s immediate care needs. When the children need to go back to work and Mom still cannot be on her own, an in-home caregiver is located and service begins immediately.
Most of us spend a lot of time planning how to pay for a college education for our children, weddings, that car we always wanted and retirement. We all spend a significant amount of time planning for the long awaited vacation that will last only a few days of our lives. Some even have given thought to long term care planning. So, while planning for the BIG things and keeping our house in order, have you stopped to think about the steps to ensure that your legacy will be carried out?
While you read this you may think you don’t have an “estate” but if you have any combination of bank accounts, investments, real estate, business interests, life insurance policies, personal property, jewelry and collections of any sort, you will want to protect these things that really do matter. The cost of long term care without a plan could cost you and your loved ones. Simply put, a will isn’t enough!
If you plan ahead for the care which many of us will need at some point, 100% impoverishment need not be the only option. We help families everyday get through the maze of long term care planning.
How will programs that seniors rely on be affected? The good news is that big chunks of the budget are exempt from the sequester’s cuts, including Social Security, Medicaid, and veterans’ programs. But while there should be no change in benefits for these programs, the federal workforce that administers them would be slashed, leading to delays and frustration.
As an estate planner, we have been telling clients for decades that once the scheduled changes took place, we would need to revisit their plan to ensure it still does what the clients wants it to do. Now the changes are resolved and are as permanent as they could be at this moment.
How common is financial elder abuse? If you detect any sudden changes in a loved one’s financial situation which may indicate exploitation, you should be very concerned and consider getting involved.