No one wants to think about health and financial issues that often arise as we age. However, it’s important to discuss and plan for what will happen to you and your property if you become incapacitated or need medical care. By avoiding such planning, you leave it to family (or sometimes strangers) to make those decisions for you during a stressful time and they may not necessarily act in accordance with your wishes. In fact, dealing with a family member who can no longer take care of himself/herself is a frequent source of conflict within families as they argue over who has control and what should be done.
In addition, when it comes to your finances, it may be too late to preserve your assets if you wait. Transferring property, setting up trusts, buying long-term care insurance and other tactics must be done before you need care.
Do you really want someone else to have control over your life and your money? We hope these blog posts will educate you about some of the personal, financial and legal concerns you should consider as part of your elder planning.
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