Are you a Wisconsin senior who has worked hard all your life and look forward to passing on the legacy that you have created and preserved to your next of kin? During the month of February, especially Valentine’s Day, we want to tell our family how much we love them. Creating and preserving your legacy through a Wisconsin estate plan is an excellent way to show your love both now and in the future.
Are you wondering what the many ways are that you can show your love to your kin during this month of February? We have several suggestions to share that you can use to protect your kin by planning and creating a loving legacy that will provide for them in the future.
- Have you done any long-term care planning to protect your legacy? Because of the rising cost of long-term care, it is important to be prepared and to create a plan to pay for the cost of any long-term care that you may need in the future. Many Wisconsians do not realize that failure to create a long-term care plan may cost them their goals for the legacy they create for their kin. Speaking to an experienced Wisconsin estate planning attorney is an important next step in the development of your plan. Your estate planning attorney is knowledgeable about elder law issues and will understand your goals and needs and can help you prepare the appropriate planning documents.
- Whether you are retired or not, now is the time to create a plan to leave a legacy for your kin. If you want, you can give your kin a clear understanding of how you want to use your retirement savings, as well as how you want it to provide for them and their families in the future. You will want to include these savings in your estate plan. In this way you will begin to create your legacy, which is how you will both protect yourself and your family’s future. By creating a legacy for your kin now, they are protected in the event something happens to you.
- Did you know that by defining your legacy now and creating your planning documents that will define your legacy early, you can then discuss them with your loved ones if you so desire? Creating an estate plan will ensure your kin 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.
Unfortunately, many of us put off this type of planning, and then when a crisis of health occurs, we are unable to make decisions and create our planning documents. This lack of planning may leave our kin vulnerable in a crisis. In addition, your estate planning needs to be discussed with your kin so that they know you have an estate plan and they know what you want for the future.
These are just a few of the ways you can plan to protect your family 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 on your legacy. 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 want to help you protect your aging relatives. We encourage you to contact us and schedule a meeting with attorney Alan Hougum today.
