Are you trying to find a card or gift for your older adult children for Valentine’s Day? Do you find it harder as the years go by? How do you say “I love you” as your children age? Do they have concerns now or for the future, do any of those concerns include you, as parents?
With thoughts of showing our love during the month of February and the entire year, we would like to share a few ways that you can show your love for your family. You can begin to plan to protect your family and create a loving legacy that will provide for them in the future, while also protecting you and your spouse.
1. Do you have a plan that will protect your legacy from long-term care costs? With the cost of long-term care for Older Americans expected to rise it is important that we are preparing ourselves for the long-care that may be needed in the future. This is critical so our children are not left struggling to find answers or to pay those costs. It is of the utmost importance that Floridians realize that the failure to plan can interfere with your goals for the legacy you create for your children.
In addition, we encourage you to include your children in the planning needed and together discuss shared goals for long-term care to ensure that you and your children are in agreement. Meeting with an experienced Elder Law and Estate Planning Attorney, who is also knowledgeable about long-term care planning issues, and understands your goals and needs and can help you prepare the appropriate planning documents is an important next step in the development of your estate plan.
2. Have you begun to create a plan to leave a legacy for your children? Are you still working? Have you thought about your retirement plan lately? Whether working or retired, now is the time to begin to think about the legacy you want to leave to your children.
By creating an estate plan, your children will have a clear understanding of how you want to use your retirement savings, as well as how you want it to provide for them and their families in the future. This is the way you begin to create your legacy, which is how you will both protect yourself and your family’s future. Do not put off creating a legacy for your children now, so that they will be protected in the event something happens to you.
3. Is it possible for your planning documents to define your legacy and help your adult children? Yes, creating an estate plan is one of the best ways to help ensure your loved ones are well taken care of in the event of your passing or sudden incapacity. Also, your planning documents will ensure that you are prepared for your own care as you get older.
Above all, any talk of planning will not help unless you move forward to create the estate plan you need for yourselves, your legacy and for the peace of mind of your children. Keep in mind that by not creating an estate plan you may leave your family vulnerable in a crisis. This Valentine’s Day give your adult children the gift of the estate plan and ensure the legacy you have created for them.
These are just a few of the ways you can plan to protect your family and make the plans you need to protect yourself and 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. At Poucher Law, we work closely with clients to help them find the answers they need and plan for their future.
We do telephone, computer, and face-to-face appointments. Our face-to-face appointments are held outside in the open air (frequently selected by clients for document signing) and inside our office conference room. We follow all CDC guidelines. Our office procedures adhere to COVID-19 safety protocols and are designed and enhanced by medical review and air quality engineering.