There are many good reasons to put in place a sound estate plan. Certainty about the transmission of property to the desired beneficiaries in a timely manner is primary. Estate tax considerations and other factors also often play a role.
How to raise the issue of estate planning
When family members begin to get older, it might be time to consider having a discussion about what they want to happen should they encounter health problems in the future. This allows the person to express their wishes about the care that they should receive, which can make things much easier for their families.
Disability and estate planning: growing uncertainty about SSD
People with special needs do not only need lots of hands-on care. They also need intelligent strategies for an appropriate party to manage the money available for their care.
Planning for long-term care: be realistic about payment options
When aging and chronic health concerns are involved, there is no easy answer to estate planning questions. If the ability to perform daily tasks becomes badly compromised, long-term care may be necessary. But as we discussed in our March 13 post, the sticker shock that comes from pondering the price of long-term care insurance is very real.
