The Holiday Season is a time to celebrate and give thanks for all that we have – such as family, friends, and good health. It is also an ideal time to discuss your estate planning with children – or broach the topic with an older parent. (Particularly Medicaid/long-term care planning!) If there is an existing estate plan, when was it drafted and have your circumstances changed? If there is no estate plan, who will handle your health and financial decisions in the event of incapacity? And upon death, to whom do you want to inherit your assets? Though these questions can be difficult to think about, they are important to both you and your loved ones – after all, this is your legacy.

Important estate planning questions to ask yourself or a loved one:

  • Do I have an estate plan that meets my wishes and fits my needs?
  • Have I had any major life events that warrant additional planning?
  • Will my named executor or trustee likely outlive me and/or be able to serve?
  • Is my will sufficient or should I consider a revocable living trust?
  • Who will take care of my children in the event of incapacity or death?
  • What happens to my life insurance and retirement accounts upon death?
  • Who will operate my small business if I become incapacitated, and who should inherit it upon my death?
  • Are my assets protected from the high cost of long-term / nursing home care, and do I need Medicaid planning?

Feel free to call or email us today to schedule a no cost educational meeting to discuss your estate planning wishes and needs. You are welcome to bring along loved ones to listen and ask questions. If you prefer a home visit or weekend appointment, we are more than happy to accommodate.

Thanksgiving has passed us by, and Christmas will soon arrive. Remember, failure to properly plan can lead to much unnecessary cost and heartache. Make this Holiday Season a time to plan and have peace of mind for the coming New Year.

Merry Christmas and Happy Holidays!

Joseph C. Jones | Attorney at Law

Attorney Joseph C. Jones advises clients on estate planning, asset protection, business law, and real estate law matters. Joe can be reached at (906) 914-4181 or Jones Law PLC is a Michigan & Wisconsin based provider of legal services.