Happy Thanksgiving
The following text is from my bi-weekly newsletter. I thought it was important enough to share here. If you are interested in signing-up for the newsletter, you can do so at www.jackcarneylaw.com.
Many of us are spending the long holiday weekend with family and loved ones. We all take the time to travel, cook, shop and even pass through airport security scanners because we love our families and we want to spend time with them. Even though we would do a lot for our families, there are some issues we usually try to avoid, like discussing estate and elder care planning.
The Thanksgiving holiday provides a wonderful opportunity to reconnect with family members and ascertain their situation. When children visit parents, they may notice stacks of unpaid bills, an empty refrigerator, dents in the car, or other signs that their parents need some help. These clues may also indicate a need for some elder care planning. If a parent becomes unable to handle his or her affairs, a Durable Power of Attorney is a more cost-effective tool than a court created guardianship or conservatorship.
Children are not the only ones that may want to ask questions this holiday season. If a young couple has children and they do not have a Will, then they are not doing everything necessary to protect their minor children (such as naming a legal guardian and establishing a trust to protect financial assets). Grandparents have a unique opportunity to initiate these discussions to ensure that their grandchildren will be well protected.
Showing true love for our family often involves addressing uncomfortable issues. Ensuring that our family is legally protected in the event of death or disability is one of the best gifts we can give.
On that happy note, have a wonderful holiday season!
Many of us are spending the long holiday weekend with family and loved ones. We all take the time to travel, cook, shop and even pass through airport security scanners because we love our families and we want to spend time with them. Even though we would do a lot for our families, there are some issues we usually try to avoid, like discussing estate and elder care planning.
The Thanksgiving holiday provides a wonderful opportunity to reconnect with family members and ascertain their situation. When children visit parents, they may notice stacks of unpaid bills, an empty refrigerator, dents in the car, or other signs that their parents need some help. These clues may also indicate a need for some elder care planning. If a parent becomes unable to handle his or her affairs, a Durable Power of Attorney is a more cost-effective tool than a court created guardianship or conservatorship.
Children are not the only ones that may want to ask questions this holiday season. If a young couple has children and they do not have a Will, then they are not doing everything necessary to protect their minor children (such as naming a legal guardian and establishing a trust to protect financial assets). Grandparents have a unique opportunity to initiate these discussions to ensure that their grandchildren will be well protected.
Showing true love for our family often involves addressing uncomfortable issues. Ensuring that our family is legally protected in the event of death or disability is one of the best gifts we can give.
On that happy note, have a wonderful holiday season!
posted by Jack Carney @ 3:38 PM
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