Have you been looking forward to the holidays in Connecticut? As the senior member of your family, do you enjoy the shopping, food preparation, family visits and time together with your loved ones? Are you finding it hard to believe that in just a few short weeks, it will be 2023? As you reflect on the past year be sure to also look to the future. What are your goals for yourself, your loved ones, and your legacy? 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 to think about what the future may hold for you.
With all that said, we know you are busy finalizing your end of the year plans, purchasing last minute holiday gifts, and making arrangements to spend time with your family. But, while rushing to complete a shopping list for holiday gifts for your family, we would like you to consider that completing or updating your Connecticut estate plan may be the gift you need to give your family this year.
In fact, do you have a current Connecticut estate plan or need to update one? Do you, as a Connecticut senior, have any questions? Questions such as:
- Who will be your decision maker if you are not able <a style="text-decoration: none;" href="http://www.cipf-es.org/cialis-generico-espana/"http://www.cipf-es.org/cialis-generico-espana/to make decisions for yourself?
- Who will have the legal authority to pay your bills if you are incapacitated?
- Who could handle your business affairs if you could not?
- What would happen to your pets if you were hospitalized?
- Who should be in charge of your finances?
- Do you need additional insurance policies?
- Do you know if your retirement plans will be able to support you as you age?
- If you have out of state estate planning documents, will they work in Connecticut?
- Do you know if any laws have changed in the past few years that now make your estate plan irrelevant?
- Have there been any changes in your family structure that necessitate the need to update your planning?
All of these questions are important and we often hear questions like these in meetings with our clients and their family members. The most critical issue when it comes to Connecticut estate planning, though, is that you need to know and be assured that your estate plan will work when you need it to. This holiday season, a completed Connecticut estate plan that lets your loved ones know what you want for yourself, for them and for your legacy is the gift you need to give to them.
We also want to inform you about a second planning component that needs to be addressed and completed in addition to your Connecticut estate plan. Your estate plan is a critical part of your health and well being. The second planning component is your elder law planning. You may not be aware, but the majority of Americans will need some form of long-term care after they reach the age of 70. With this fact the time for planning must be as soon as possible. Unfortunately, most of this care is not covered by Medicare and it will fall on the Connecticut senior to pay for it. As elder law attorneys we can assure you it does not have to be this way. We can work with you to create not only 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. Both of these plans are truly the gift you need to give your family this year.
We know this article may raise more questions than it answers. We know this blog may raise more questions than it answers. We want you not to wait to learn more about this critical issue facing all of us, but most importantly Connecticut seniors. Remember, being prepared is the best defense you can have in place. The Northeast Law Center practices law in many Connecticut counties including Hartford, New London, Tolland and Windham. We encourage you to contact us and schedule a meeting.