Many people take a "set it and forget it" approach to estate planning. This is, they think their work is done once they make a will and other important estate documents. What few people realize is that an executor isn't just tasked with locating your will when you die. Your executor must also gather all your financial documents, including bank statements, retirement account information, life insurance documents, and other paperwork. Depending on the decedent's level of organization, this can be a daunting and sometimes even an impossible task.
When an elderly loved one requires ongoing care and assistance, it's common for family members to disagree about caregivers, the type and frequency of care, and whether the older loved one should remain at home or live in a residential care facility. Additionally, many families delay making these important decisions until an aging loved one is critically ill or unable to live independently. In these stressful times, family conflicts are far too frequent. The following disagreements are among the most common.
No one really likes to contemplate the possibility of being incapacitated, terminally ill, or unable to function normally. Although these are unpleasant things to think about, planning in advance can provide the peace of mind that comes with knowing you have appointed someone trustworthy and caring to look out for you if you can no longer look after yourself.
Jeffrey P. Scott & Associates, LLC
Do you want to know more about estate planning and/or disability planning? Consider attending one of our scheduled community education classes this fall. Below are links to our specific classes held in the South Washington School District Area. Additionally, Amanda will hold a class on October 8 in Apple Valley (District 196 Community Education) and Jeff will hold a class on October 23 in St. Louis Park.