When you are wealthy, it's vital that you plan for your death. Your estate is valuable, and you want to make sure as much of that estate as possible goes to the people or causes you want to see benefit from your hard work. Regardless of your wealth, everyone should have an estate plan, but as someone who has much to lose, it's extremely important to plan early.
Probate can be a long process, so it's best if you're able to avoid it. Probate can take months or years to be resolved, and it can cost thousands of dollars. The longer it takes, the more it will cost overall.
As you age, you may find you have specific legal needs. In those cases, it may be in your best interests to work with an elder law attorney.
Older adults in New York may be concerned about paying for rising medical costs. As people age, they naturally require more medical care and treatments. They may be on daily medications necessary to maintain their health. All of this can get quite costly. Luckily, through the federal and state governments, adults over the age of 65 can qualify for help. The two main options for healthcare coverage are Medicare and Medicaid.
Everyone gets older, and no matter how hard you try, there will come a day when you need to plan for your estate and end of life wishes. It can be hard to approach this topic, but it's important to do so. Women who want to plan their estates should consider approaching it slightly differently. Women are not the same as men physically and have some different factors to consider in their estates. For instance, women tend to outlive men, so it's important to plan for additional years of life that men may not account for in their plans.
When your loved one passed away, you began to gather all the documents you knew you needed from his home. There, you found the documents in a new location; it wasn't where you'd left them when you were appointed to take care of the estate by your family member. You were surprised when you found that many of the documents were missing or not written the way you remembered.