Planning for retirement living should also include the possibility of possible
long term care requirements. Starting this process earlier in life can make
this burden a lot easier. Making this plan takes the pressure off family
members and allows a more smooth transition. Though many people remain
independent into old age, the sudden need to transition to a more assisted
living could happen at any time. And the person needing the care might not be
able to assist in that decision. Having a plan in place with your estate plan
makes this much more simple.

Read more: Retirement living and long-term care planning may coincide

Estate planning isn’t just for the wealthy. Everyone should have a plan for
the disposition of their assets after their death. Even the wealthy
and famous legal minds have had drawn out legal issues related to their estates.
Unexpected death and poorly worded wills can create havoc and cost the family
even more money and stress. It’s especially important for those with large
and diverse estates to consult with specialists to plan for the transfer of their assets.

Read more: CONNECTICUT MONEY: Even celebrities fail at estate planning – Torrington Register Citizen

It is important to clear up confusion about the amazing MAPT. One misconception that is out there about MAPT is that when you put your house into it, then you cannot sell it. That is far from true, the trust can actually sell the house. The proceeds are paid to the trust and they remain protected. You can also use the proceeds to downsize and buy a condo. You can do it without restarting the five year period.

Read more: Bonnie Kraham: Clearing up confusion about the amazing MAPT – Times Herald-Record

I actually believe it could become a huge crisis. However, they”ll have to be some alternatives to help the sick and elderly, at least I would hope so.Remember the baby boomers are now up in age. Most payed into Medicaid and Medicare during their working days,so I do feel a portion of it should be carefully considered for this group. I’ve always wondered why our government doesn’t tax those of us in the work force just a little bit more for Medicaid and Medicare, maybe this will help in future for those who become older and sick. Understanding elder law is becoming more and more important for the future.

Read more: If Medicaid is Cut, is the Result a Crisis for Some SNF Residents?

This article discusses how setting up a will can be complicated with different levels of complexities. In addition to being an emotional event occurrence, the article points out that it can bring up deeper issues within families. The articles lists several examples of events that occurred after a will has been executed, or in lieu of having a will at all, each of which, as indicated by the article, was not what the person referenced in the will wished to have occur. The article goes on to state that even when considering all possible future outcomes, attention must be paid to the negative outcomes, for they, as the article points out, may also occur.

Read more: Keep Mental Hang-Ups From Sabotaging Estate Planning – Greater Wilmington Business Journal