4 reasons Why Estate Planning Isnt Just for Older People

Author

Chayet & Danzo, LLC

Posted on

Oct 07, 2021

Book/Edition

Colorado - Denver Metro

Society often conditions us to believe that estate planning is just something senior citizens do. Thats definitely a misconception. Every adult, no matter whether they just turned 18 years of age or 80 years of age, should take part in this process. It involves much more than drafting a will.
While there are some documents that everyone should have in their estate planning arsenal, others are specific to an individual's life stage. Do you know which ones are most appropriate for where you're at in your life?

For newly minted adults
Your parents generally have a right to make medical and legal decisions on your behalf up until your 18th birthday. Once you reach the age of majority, you'll have to sign a health care power of attorney if you wish for your parents to make such decisions for you if you become incapacitated.
As you start your career

Upon launching your career, you also need to select the beneficiaries you want to receive any proceeds belonging to your insurance or retirement plan if something unexpected happened to you.
When you just got married

Once you marry, you may need to update any beneficiary designation forms to your spouse's name. You may also want to draft a joint tenancy with rights of survivorship to ensure that your property would seamlessly transfer to your spouse if something happened to you.
When you have a child

New parents should take time soon after the birth of their baby to name a guardian that would be able to step in and care for their child if they couldn't do so themselves. New parents can also benefit from funding a trust to provide for their child's financial needs if they aren't present to raise them.
Many people don't like to engage in estate planning because it makes them anxious or sad. Having a plan in place, however, ensures that your loved ones will be taken care of once you're gone. It should give you some reassurance in knowing that would be the case.






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Family Conflicts Over Caregiving

As our parents age, the primary questions adult children face are (1) who is going to provide needed care, and (2) in what setting will mom or dad receive the needed care. Coming to such decisions does not always mean smooth sailing moving forward. Family members often view care issues very differently and conflicts can be further complicated when one of the siblings is the primary caregiver. Our team members find such conflicts to be quite common in their work with our clients and families. The situations are stressful and charged with emotion, worry, and exhaustionthe perfect storm for conflict and family duress.As I reflect on the meetings and consultations I have had with some of these families recently, I suspect that part of the problem is the fact that the aging parents failed to verbalizeearly and oftentheir wishes and desires related to the what if scenarios. Because their folks did not talk openly about their wishes and expectations, the adult children are often forced to guess what Mom and Dad would have wantedanother perfect storm for differences of opinion and sibling conflicts.If you have not already done so, commit to conversing with your adult children about the what ifs. Let them know your wishes and preferences. Consider the effort to be your conflict prevention plan, so that down the road, you and yours wont have to engage in conflict resolution. And be sure to have a formal caregiver agreement drafted if a family member becomes the paid caregiver. It is an important tool for many reasons, including clarifying the financial parameters of the care being provided. Doing so will prevent misunderstandings between those you love most. Open, honest communication is always the key, and we recommend it early and often in these situations.

What is a Typical Day in a Senior Rehabilitation Facility?

Following surgery or hospitalization for an illness, seniors are typically referred to an in-patient rehabilitation center to aid in their recovery. Senior rehabilitation may include physical therapy, occupational therapy and speech therapy. Because in-patient rehab is for those who require intensive care for an extended period of time additional services are offered, such as assistance with a number of daily needs as well as social activities and counseling.What is a Senior Rehabilitation Center?A senior rehabilitation center is a place for seniors to recover with specific attention on pain reduction and improved function through multiple therapies.Physical therapy helps increase strength and improve mobility, balance and flexibility, as well as manage pain.Occupational therapy assists patients with performing daily activities that often require fine motor skills or the use of adaptive equipment like a cane or walker.Speech therapy helps with communication, swallowing and cognitive skills such as attention and memory problems.What Does a Typical Day Look Like?MorningNurses visit patients and help with personal care tasks such as bathing, dressing and grooming, as needed. Since the goal of rehabilitation is to prepare patients for a successful transition home, the facility simulates a home environment as much as possible. Patients determine their own schedules (within reason), wear their own clothes, and in some cases, have their own personal living space.After breakfast, patients begin physical therapy in a gym setting that features specialized equipment and technology to aid recovery while minimizing pain. Exercises vary depending on the patients needs and abilities. Daily physical therapy builds strength, coordination and balance all necessary to regain independence.NoonPatients have time to recuperate from therapy and socialize during lunch. Options to eat with visiting family and friends, or in their room are also available. Patients meet with the dietitian regularly to discuss food preferences and dietary needs.AfternoonTherapy sessions usually continue after a relaxing lunch. Afternoon therapy might include working with a speech-language pathologist or an occupational therapist. Depending on individual needs, activities might also include shopping, counseling or other activities, such as going on excursions, taking classes, playing games, making crafts or watching live performances, to promote socialization and mental wellbeing.EveningEvening is often a time for relaxing or visiting with family. Following dinner, patients are given ample time to rest up for the next days therapy. Quiet activities such as reading or doing puzzles are encouraged.Colavria Hospitality offers short-term in-patient rehabilitation. Each of our locations provides the perfect mix of therapy, fun and engaging activities, and rest and relaxation that will prepare patients to return home as quickly as possible.Colavria Hospitality currently manages four senior living communities in the Denver metro area which offer a unique mix of care options. Our mission is to provide those we serve with an environment that focuses on hospitality, person-centered relationships, and the well-being of each individual. Each community operates under our Core Principles of Collaboration, Innovation, and Harmony to assure a rich and secure lifestyle for patients as well as a pleasant working environment for our care team. We invite you to take a tour of our facilities.

Tips On Staying Independent as a Senior

Home care can help seniors who want to age in place and maintain their independence by helping them around the house, providing transportation, and much more.Home care can help seniors age in place and keep their independence.Not all seniors want to go to nursing homes; many want to age in place and live out their days in their own ways. This is becoming a huge trend in the senior community, and it is more doable than ever before with a home care provider. Your senior loved one can stay at home and live the life they want without having to give up quality care.Here are some of the best ways your loved one can remain independent. Go To the DoctorJust because someone chooses to age in place doesnt mean they get to stop monitoring their health. In fact, one of the best ways to remain independent for as long as possible is by going to the doctor for regular checkups. A doctor should always be monitoring the health of a senior and they should be talking regularly about medications, side effects, and any concerning health problems.Your loved one can be independent and still have a team of home care professionals supporting their health and routing for them. This support will help them age in place and live a high-quality life. Keep MovingNo matter how old you get, you should be moving around, and this goes for your senior parents, too. They may not be able to run around the block or go rock climbing, but they can get up and move around the house every day. They may want to garden during the spring and summer or walk in their yard. Whatever it is, the more movement they can do, the more likely they are to live well while aging in place. Modify The HomeNot all homes are suitable for aging in place, but there are many ways to modify the home so your loved one can live there for as long as possible. Many of these modifications are not expensive, and your loved one can work around things. Move them to the main floor, put in non-slip rugs, change the doorknobs and light switches. You may even be able to add a home security system to help keep your loved one safe.When in doubt, encourage your loved one to move to a first-floor apartment. There are many ways for a senior to remain independent, and not all of them have to be expensive or massive. Get More HelpAt some point, more help will be necessary, but that does not mean you have to give up independence. Your loved one may need to ask family members for help, and its important you show up when its needed. However, many seniors dont want to feel like a burden, and they also dont want to move to a senior home.One of the best things they can do is hire home care to help them around the house. Home care providers will help with routines, transportation, and much more. Your loved one will never have to give up their high-quality life, and they dont need to give up care when they need it most. Its time to look into hiring a home care provider for your elderly mom or dad.  If you or an aging loved one are considering Home Care in Brighton, CO, please contact the caring staff at Talem Home Care & Placement Services today. Call (720) 789-8529At Talem Home Care of Broomfield, we provide passionate, understanding, and flexible caregivers in Broomfield, Arvada, Aurora, Boulder, Brighton, Commerce City, Denver, Erie, Firestone, Lafayette, Lakewood, Longmont, Louisville, Northglenn, Sherrelwood, Thornton, Welby, Westminster, Wheat Ridge and surrounding areas in Colorado.

Local Services By This Author

Chayet & Danzo, LLC

Power of Attorney 650 South Cherry Street, Denver, Colorado, 80246

We are a client-focused elder law and estate planning firm serving all of Colorado. Our attorneys provide the highest quality legal services and professionalism, while representing our clients in a cost-effective manner. Meeting the needs of our elder law clients depends on moving beyond conventional legal work to offering practical assistance in planning, counseling, educating, and advocating for the senior or disabled client and their families. Call Toll Free 1-866-873-6596.

Chayet & Danzo, LLC

Special Needs Trusts 650 South Cherry Street, Denver, Colorado, 80246

We are a client-focused elder law and estate planning firm serving all of Colorado. Our attorneys provide the highest quality legal services and professionalism, while representing our clients in a cost-effective manner. Meeting the needs of our elder law clients depends on moving beyond conventional legal work to offering practical assistance in planning, counseling, educating, and advocating for the senior or disabled client and their families. Call Toll Free 1-866-873-6596.

Chayet & Danzo, LLC

Elder Law 650 South Cherry Street, Denver, Colorado, 80246

We are a client-focused elder law and estate planning firm serving all of Colorado. Our attorneys provide the highest quality legal services and professionalism, while representing our clients in a cost-effective manner. Meeting the needs of our elder law clients depends on moving beyond conventional legal work to offering practical assistance in planning, counseling, educating, and advocating for the senior or disabled client and their families. Call Toll Free 1-866-873-6596.