As one ages, the physical and financial needs of that individual will also change. Getting older often comes with new medical needs, the need for assistance and other changes that often require new considerations for estate planning. As life changes, estate plans should also change, changing and adjusting to the new needs that an aging Florida resident has and potential needs he or she may face in the future.
Thinking ahead
It is impossible to predict the future and know what will happen in the days and weeks to come. While an older person cannot know what will happen in the years ahead, an updated estate plan can help one feel confident. Helpful steps include:
- Identify people who will help and outline plans in case of a medical emergency
- Consolidate assets and investments so that they are easier to manage and locate
- Consider living near a loved one or moving to a place where help is provided
- Ensure that all estate planning documents are updated as needed
It is also helpful to discuss plans and goals with loved ones so that they are not caught off guard by the implementation of plans when it is time to do so.
Preparation provide confidence
With a thoughtfully created estate plan, one can be certain that he or she has the most effective and appropriate legal and financial protections in place. With the assistance of an experienced Florida estate planning attorney, it is possible to create a plan that will allow one to look to the future and face the challenges of aging with confidence in his or her interests.
