On Valentine’s Day, how do you say “I love you” as your children age? Are you wondering what matters to your children now, and in the long-term?
There are many ways that you can show your love to your children and family during this month of February. We would like to share a few ways that you can protect your family by planning and creating a loving legacy that will provide for them in the future.
1. Is your legacy protected from long-term care costs? With the cost of long-term care for older Americans rising, it is important that we are prepared to create a plan to afford the long-term care that may be needed in the future. This is critical so that our family members are not left struggling to pay those costs. Many Floridians do not realize that failure to create a long-term care plan may cost them their goals for the legacy they create for their children.
We encourage you, right now, to develop the long-term care planning you need with your loved ones and discuss the goals for long-term care to ensure that everyone is in agreement. Speaking to an experienced estate planning attorney is an important next step in the development of your plan. Your estate planning attorney is also knowledgeable about elder law issues and understands your goals and needs and can help you prepare the appropriate planning documents.
2. Do you want to create a plan to leave a legacy for your children before and after you retire? In fact, have you even thought about your retirement plan lately? If not, as you consider the legacy you want to leave behind, now is the time to do so.
To give your children a clear understanding of how you want to use your retirement savings, as well as how you want it to provide for them and their families in the future, it is necessary to include these savings in your estate plan. This is the way you begin to create your legacy, which is how you will both protect yourself and your family’s future. By creating a legacy for your children now, they are protected in the event something happens to you.
3. Did you know that by defining your legacy now and creating your planning documents that will define your legacy early, you can then discuss them with your loved ones? Creating an estate plan will ensure your loved ones are taken care of in the event of your sudden incapacity or passing away. In addition, you can prepare for your own care as you get older.
Unfortunately, many of us put off this type of planning, and then when a crisis of health occurs, we are unable to make decisions and create our planning documents. This lack of planning may leave our family vulnerable in a crisis. In addition, your estate planning needs to be discussed with your loved ones so that they know you have an estate plan and they know what you want for the future.
These are just a few of the ways you can plan to protect your family and make the plans you need to provide for them when you are gone. As we reflect on Valentine’s Day and show those in your life the ways you love them, now is the time to get started. Preparation is key to successful planning and to help you accomplish your goals. Our Stuart estate planning law firm takes a very different approach from what you might have come to expect. Our goal is to create lifelong relationships with each of our clients, to guide and manage your legacy for the rest of your life. Please contact our office to learn more.