Americans are living longer than ever. This means that most seniors will transition from living independently to assisted living and then to a nursing home over a period of several years.
- Some families will face the challenge of the early onset of Alzheimer’s or other dementia in their loved ones. Planning can protect the resources of the well spouse from being consumed by the cost of the care for the ill spouse.
- Many family members devote their time, talent, and resources to improving the quality of life for their loved ones in these difficult years. They often put the needs of the senior above their own jobs, homes, and health. Planning can make sure these generous family members or friends are compensated for their contribution if that is the wish of the senior.
- Unfortunately, many seniors fall prey to exploitation, fraud, and abuse by others, even friends, trusted advisors, and family members. Planning can protect assets from the most common types of exploitation. Legal action may be necessary to recover assets from the wrongdoer and to prevent further exploitation.
- End of life decisions often fall to an agent under a power of attorney. Planning can give the senior peace of mind because the agent will know what the senior would want them to do in those difficult situations.
There are many pitfalls to avoid, many mistakes that cannot be reversed, many choices to make, and many common beliefs that are untrue when it comes to managing personal care, relationships, and assets in the final years of life. Take time to review your documents, discuss your wishes, and document your plan for that important chapter. Planning now will help you live comfortably and independently for as long as possible. The law office of Joni Beth Bailey is here to help you move forward to the next chapter.