Helping Older Adults With Estate Planning In Tampa
Many of us have older adult friends and family members in our lives. We cherish our relationships with them and the comfort, companionship, and guidance they can provide. Unfortunately, it is easy to overlook how vulnerable these people are in terms of their health and activities. While bringing up estate planning with them can be awkward, it plays an important role in protecting them and ensuring they are provided for properly in the future. Our Tampa estate planning attorney offers tips on helping them put the appropriate documents in place.
Important Estate Planning Tasks For Older Adults
While you may appreciate the wit and wisdom older adults bring to the table, be aware of some of the serious concerns they face as well. Making sure they get the care they need in the event of accidental injuries or sudden illnesses and maintaining their financial security are top priorities. Having the appropriate estate planning documents in place can help protect them, regardless of what the future might hold.
While there are a variety of different estate planning tasks they may want to consider, the following are among the three most important:
- Creating a will:
This is a top priority. A will provides a complete inventory of all property and assets, acts as a guide in Hillsborough County Probate Court proceedings, designates beneficiaries of their estate, and determines how assets are distributed among them.
- Filling out advance directives:
The Florida Agency for Health Care Administration advises that people of all ages should take steps now to put advance planning documents in place, but it is particularly important for older adults. These communicate their wishes in regard to medical care and end-of-life treatment in the event they are capacitated and otherwise not able to communicate their wishes on their own.
- Considering Medicaid trusts:
According to the Florida Health Care Association, more than 70,000 older adults currently reside in nursing homes across the state. Thousands of others end up spending at least a portion of their time in long-term care facilities. These stays can quickly deplete the assets of older adults. Creating a Medicaid trust protects them and helps offset long-term costs while also ensuring they get the services they need.
Reach Out To Our Tampa Estate Planning Attorney
Estate planning can be a difficult topic to bring up, particularly with older adults. However, discussing what could potentially happen in the future and the options available plays an important role in protecting their safety and financial security. Find a time when you are both comfortable and able to talk. During these discussions, emphasize that your top priority is ensuring they are provided for in the years to come.
At Strategic Counsel Law Group, L.C., we can assist you throughout this process, advising you on important documents older adults need to have in place. To discuss the options with our Tampa estate planning attorney, reach out and call or contact our office online and request a consultation today.
Sources:
hillsclerk.com/court-services/probate-guardianship-and-trust
ahca.myflorida.com/content/download/6238/file/PAPD_Update_04-2019.pdf
fhca.org/media_center/long_term_health_care_facts
