Are you finding it hard to believe the holidays are here? Have you completed all your holiday shopping? Or, are you still looking for the best gifts for your children and grandchildren? What about adding this gift to your holiday shopping list for your loved ones, completing or updating your Florida estate plan? We believe that it may be the best gift you could ever give to your loved ones.
In fact, as you reflect on the past year and look to the future, what are your goals for yourself, your loved ones, and your legacy? This is the perfect time to take stock of what has happened this year, as well as reflect on your goals for the coming year. What went well? What could be improved on?
We encourage you to take the time to not only think about the immediate actions that must be completed before the end of the year, but also think about your future. Do you have a current Florida estate plan? Do you have questions that need to be answered for your future? Questions such as:
- Who will make your decisions if you are not able to make them for yourself?
- If you are in a car accident, who will have the legal authority to pay your bills?
- Who could handle your business affairs if you could not?
- What would happen to your pets if you were hospitalized?
- Should your adult children be in charge of your finances?
- Do you need additional insurance policies?
- Will your retirement plans be able to support you as you age?
- If you have out of state estate planning documents, will they work in Florida, or should they be updated to Florida documents?
- Have the laws changed in the past few years that now make your planning irrelevant?
- Have there been any changes in your family structure that necessitate the need to update your planning?
All of these questions are important, we hear questions just like these from our clients and their family members each day. When it comes to Florida estate planning, you need to know your plan will work when you need it to. This holiday season, remember, a completed Florida estate plan that lets your loved ones know what you want for yourself is quite possibly the best gift you can give.
Now, in addition to your Florida estate planning which is a critical part of your health and well being there is a second planning component that needs to be addressed and completed as well. Because the majority of Americans will need some form of long-term care after they reach the age of 70, long-term care planning is critical. Unfortunately, most of this care is not covered by Medicare and will fall on the Florida senior to pay for. As elder law attorneys, we can assure you it does not have to be this way. We can work with you to not only create an estate plan but also a long-term care plan that can protect the estate plan you are putting in place and allow you to be able to leave a legacy for your family, no matter what the future holds.
We know this article may raise more questions than it answers. At David H. Jacoby Elder Law Advocate, P. A., we are focused on providing thorough, ethical, and timely solutions for our clients and their loved ones. We encourage you to contact us and schedule a meeting with us.