An estate plan is an important set of documents and instructions that can provide security and peace of mind to a White Plains resident. That is because an estate plan may include the testamentary documents that explain how the creator's possessions should be distributed when they die, who may be in charge of their affairs if they are incapacitated, and how guardianship of their dependents may be managed if needed.
How can families help older adults pay for nursing home costs?
While the accommodations available to your aging loved one in a nursing home may seem basic, they will likely cost a significant amount of money. Depending on the location of the facility, the size of the room and the medical needs of your loved one, you could pay well over $1,000 each week for nursing home care.
The importance of Medicaid planning
When we were younger, we often yearned to be an adult. To be able to make decisions for ourselves is a huge milestone; however, the need to make decisions never stops when one hits adulthood. One not only needs to think about the present but also constantly think about the future. Although it is challenging to think that far into the future, it is important to consider what could occur when and if one needs help and assistance in their old age. Planning for home health care or nursing home living is important, as failing to do so could prove to be costly.
Why your estate plan may be out-of-date
Taking the time to develop an estate plan is important no matter one's age. While some like to put this off until later in life, it is often stressed that individuals understand what an estate plan can do, the different documents that make up an estate plan and the importance of keep them up-to-date. Take for an example a will. This document is crucial when it comes to designating the heirs and beneficiaries that obtain one's property and assets following his or her death.
The importance of the right nursing home for your loved one
Deciding that it's time for your loved one to move into a nursing home or assisted living facility isn't easy. People often experience a range of emotions from guilt to fear. The truth is that many times, nursing homes have an unnecessarily negative reputation. Many facilities focus on cleanliness, as well as top care for the residents.
Signs its necessary to establish a guardianship
No matter our age, we tend to show our love for our parents. And after putting in years to raise us, we are often ready and willing for these roles to reverse in the later years of their lives. Caring for an elderly parent is not only common in New York, it is often something one prepares for. It is difficult to consider assigning guardianship of an aging parent, but it is a step that is often necessary to take.
