Whether your parent has already planned wisely for long-term care or you fear you will be the one handling the responsibility of your parent's elder care matters, there are certain factors you may expect. For example, you may have to make critical decisions about your loved one's medical care, and this may include choosing a nursing care facility.
It is easy to sit around and shoot the breeze about favorite movies, the Red Sox, Boston’s best restaurants and so on. It can be more difficult to sit down with your spouse or other members of your family to discuss estate planning.
Trying to decide which estate planning tools will work best for your estate can be difficult. Numerous options exist, and you may wonder whether some could even apply to your particular circumstances. True, not everyone needs to utilize every planning tool available, but it is still wise to explore your options to find the best fit for your needs and goals.
Answering that question could help you choose who you would like to fulfill that role. When you started estate planning, you probably discovered that having a revocable living trust would greatly benefit you and your family. You serve as the trustee and still use and control your assets, which includes putting assets in and taking them out when necessary.
You love your home. It is where you made many memories with your spouse and children. You look around at the furniture, decorations, photographs on the wall and trinkets sitting around, and you feel comfortable and safe.