Massachusetts Estate Planning & Asset Protection Blog

ESTATE PLANNING AND NURSING HOME PLANNING CONSIDERATIONS WHEN YOU ARE CONTEMPLATING RETIREMENT

Posted by Dennis Sullivan & Associates on Sun, Sep 15, 2019

When it comes to your retirement, there are a number of important steps to take and questions to consider to help ensure that you can retire comfortably. For example, when was the last time you reviewed your estate plan and determined whether it still conforms to your goals and needs? Have you thought about your long-term care plans?

Older Americans are living longer now than ever before. As a result, people are finding themselves unprepared for the next stage of their life, both emotionally and financially. To help ease some of your worries, let us share with you a few estate planning and nursing home planning considerations when you are contemplating retirement.

Estate Planning

When contemplating retirement, do you have the answers to the following questions? What will you do in a crisis?

Have you named a decision maker who is able to act for you? It is important to ensure that your agent under your durable power of attorney not only has the ability to make long-term care decisions for you but can also engage in the planning you may need.

One of the primary benefits of setting up an estate plan is the privacy and protection for your assets it provides. Unfortunately, if you pass without leaving any planning

protections in place, your estate will be subject to probate proceedings. As a result, information about your assets will be considered a matter of public record and anyone who would like access to that information can easily obtain it.

Long-Term Care

Did you know that research tells us that only around thirteen percent of all seniors are prepared for a future that could include the need for long-term care outside the home? We cannot stress enough the importance of planning ahead and learning about your options early. Research what long-term care costs in your community, talk to your primary care physician about your future, and discuss your plans with your family.

Further, once you have your goals in mind, talk to your experienced elder law attorney. He or she can help you create a plan that meets your needs. This can be accomplished long before you require long-term care. As a result, you will have access to many more planning options that best fit your needs. We know that preparing for the next stage of your life can be overwhelming. Remember, we are here to help guide you through each step and can help you evaluate the best

planning options for you and your family. If you are ready to discuss your planning needs, do not wait to contact our office.

We encourage you to attend one of our free educational workshops, call 800-964-4295 and register to learn more about what you can do to enhance the security of your spouse, home, life savings and legacy. By attending our workshop, you will also be entitle to more than $900 in valuable benefits, including your choice of books, DVDs and more! Call 800-964-4295 (24/7)

Tags: Retirement, Estate Planning, retirement plans

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