As 2015 arrives, the whole world is making resolutions. Do you have senior legal directives on your list? Attorney Jamieson Long specializes in eldercare, and he has a few suggestions for seniors adding legal resolutions to their goals for the new year.
What items to address
One of the first steps in legal planning is knowing which documents to draw in order to best protect your assets and wishes. Some such documents include power of attorney (POA), living will, adult guardianship, and last will or living trust documents.
“It’s important that seniors stay in control of these documents and their overall planning,” said Long,” because those documents allow the senior to keep control.”
These legal directives indicate a senior’s wishes in the event that the senior is unable to express those wishes, which make these documents the next best thing to the senior’s own voice.
“All seniors should consider asset preservation planning, which is a more advanced combination of legal and financial planning,” explained Long. With asset preservation planning, seniors can be sure there is a plan in place for long-term care expenditures down the road.
Legacy planning goes beyond just the material items. “Consider leaving a personal history and how you want others’ lives affected,” said Long.
How to address them
“The advice at the end of the day is that not all documents are the same,” said Long. “Each document must be customized to your individual plan.”
More importantly, legal documents and your life and estate planning have to be maintained. “When the documents are signed, you’re not done,” explained Long. Keep up your legal documents and review them every couple years.
Long also advises having a remote control plan in place in case directives are unable to be directly executed and to keep up connections with friends, family, and neighbors to ensure that directives are accounted for and administered per the senior’s wishes.
Friendship Manor encourages all residents to have their affairs in order so that residents and their families can rest assured that the only thing they need to focus on for the rest of 2015 is enjoying life and each other!
For eldercare advice and legal planning, contact Jamieson Long & Associates at (309) 644-4941, and be sure to sign up for our reminders to stay “in the know” about all the great events at Friendship Manor to keep you connected in the new year!