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Planning for the future can be an overwhelming task. There are concerns about legal matters, living situations, and health care considerations to take into account. Every persons situation is different, but as a tool for our readers, we have created a checklist to assist individuals in planning for the future.
Legal matters
Have you created a will? If not, there is no time like the present. Take time to consider who should be listed as a beneficiary from the will, and who will be named as the executor of the will. If you have already created a will but have recently moved, make sure your will is still valid in your new state. If you have other estate planning concerns, such as tax consequences, be sure to talk with an attorney who handles estate planning.
You should also take time to create a heath care directive and power of attorney. Most importantly, make sure that your family members have a copy of, or have access to these documents.
Living situations and health care considerations
Do you know if you will qualify for Medicaid or Medicare? Will you be relying on those services to pay for a care facility? If you want to stay in your home as long as possible, have you estimated the costs of doing so? Have you had a frank discussion with your family members about what to do when you can no longer live independently?
Many of these topics are difficult to think about and discuss with family members. But preparing for them in advance will allow everyone to be more prepared and able to deal with them in the future.
Click here to download our Planning for the Future checklist.
Related posts:
- Now is the Time to Plan Your Estate
- Increasing Demand for Elder Care Services
- Elders Distrust Government, Trust Social Security
- Directives Help Elders Die With Dignity
Randall Ryder is consumer rights attorney in Minnesota, where he suesabusive debt collectors and is a publisher of Elder Parent Help.