A well-planned estate will ensure that your parent’s wishes are carried out as well as making sure that they receive the best care possible without putting a financial strain on them or other family members.
It does not matter how much forethought you put into distributing your assets, or how expensive it was to draft your will or trust if the people bound by these documents do not know what they contain, or potentially that they even exist.
Estate planning is all about five essential documents. Documents drafted 30, 20, or even 10 years ago may need updating. Major life events such as marriage, the birth of children, or starting a new business, all have serious estate planning considerations.
This field of law secures proper care and future security for the growing elderly population. More importantly, it is an opportunity to embrace the idea of pre-crisis management and planning for the future.