Last week we discussed when planning should start, which we determined the sooner the better for getting the best results in protecting your life savings from long-term care costs. However, sometimes even the best intentions give way to daily life and the overwhelming feelings that may arise from the very situations the planning is intended for.
Sometimes it feels that things are too hectic to contemplate adding one more to the pile.
But, don’t wait. The time to do the planning is now when everybody can participate in it and there is still time to get it done. Besides, you’ll also feel better knowing the important piece of the puzzle has been taken care of.
In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, discusses the importance of not giving in to the “things are too hectic right now” trap and that by persevering through, even if you’re overwhelmed, will lead to a better result for everyone in the end.
Don’t Fall Into the “Things Are Too Hectic Right Now” Trap
Transcript:
Hi, I’m Wes Coulson and this is your Elder Law Minute. You know, we got two calls at the office yesterday postponing appointments and both of them gave the same basic reason. The situation that had caused them to come to the workshop and to be interested in planning to protect their life savings, or the life savings of a family member, had developed such that they were just too overwhelmed dealing with that immediate situation to plan. You know, I understand that, but it’s also really unfortunate and it carries a great lesson with it.
The problem with waiting until the situation is such, waiting to see how it plays out to where you really need this, too often unfortunately translates into either not being able to find the time or energy to do it because you’re dealing with the situation too much, or just having it be one more thing that you’ve put onto the pile that you need to deal with at the time. So, I’m not saying this to preach or lecture, but it really does help if you see a situation developing that points to a potential need for long-term care down the road.
Don’t wait. The time to do the planning is now when everybody can participate in it, have the time to get it done, and, by the way, you’ll also feel really good that you have that important piece of the puzzle taken care of. Thanks.
For more information on Asset Preservation Planning, visit these articles:
- The Sooner the Look-Back Period Starts, the Sooner It Ends
- Why do I need an Asset Preservation Plan?
- Long Term Care Costs: The Biggest Threat to your Financial Future
“Your Trusted Advisor on the Elder Care Journey”
Dent-Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer’s Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older. At Dent-Coulson Elder Law, our clients’ well-being is our number one priority. For immediate help, call (877)995-6876 or Contact Us and we will get in touch as soon as possible.
