Are you looking for the perfect gift for your children this Valentine’s Day? How about creating a loving legacy for your children? Creating a loving legacy together with your Connecticut estate plan for Valentine’s Day, is a wonderful way to say “I love you” as your children age.
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 some suggestions that you can think about to protect your family. By planning and creating a loving legacy you will be providing for them in the future.
1. Protect your legacy from long-term care costs. Did you know that it is important to create a plan to afford the long-term care that you may need in the future because the cost of long-term care for older Americans is rising? This planning is critical for our families so that they are not left struggling to pay those costs. Many adults in Connecticut do not realize that failure to create a long-term care plan may cost them their goals for the legacy they create for hospitalharrywilliams.org their children.
2. Communicate your plans. We encourage you to let your children know that you are developing the long-term care planning you may need in the future. This will give your children peace of mind that you have taken care of any healthcare or financial crisis that may arise in the future. In addition, let your children know you are working with an experienced Connecticut estate planning attorney in the development of your plan. Your family needs to know that your estate planning attorney is also a qualified and knowledgeable elder law attorney and understands your goals and needs and can help you prepare the appropriate planning documents.
3. Retirement. Whether you have retired or not, you need to create a plan to leave a legacy for your children. 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. You will want to include all retirement savings in your estate plan and as part of your legacy planning. Remember by creating a legacy for your children now, they are protected in the event something happens to you.
Your Valentine’s Day gift of 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. Because this type of planning is often delayed by people, this lack of planning may leave families vulnerable in a crisis. The fact that you are now creating your estate plan and preserving your legacy has given your children peace of mind about their future and yours.
These are just a few of the ways you can plan to protect your children 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.
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.