Many of the families we work with want to get their affairs in order to ensure they can pass something on to their children or grandchildren. And we understand that desire. After working hard your whole life, leaving something to your loved ones is a gift to them.
The downside to this desire is that for some folks, leaving their loved ones any kind of inheritance means making a choice between taking care of themselves (paying for long-term care) and having something to pass on.
The reality is this: you are doing yourself and your loved ones a disservice when you are more worried about a gift to them than you are taking care of yourself or your spouse. Someone will worry about paying for your care, and it may be your loved ones. The very people you want to have a gift for.
So, instead of worrying about making sure there's enough left when you pass that you can give an inheritance of some kind, take care of yourself first. It's not selfish, in fact, it's the opposite. When you have a plan and the means in place to age as you want, you relieve your loved ones of a huge burden.
Like we mentioned, there are really two parts of the puzzle: a plan for paying for care, and a plan for the kind of care you want. Depending on your stage of life, these plans will look different, and that's why at Idaho Estate Planning we create a Legal Life Plan that's just for you. We'll help you figure out the best way to pay for long-term care, what to do with your home and other decisions about how to get your affairs in order. Additionally, we'll make sure you have the appropriate documentation about who will make decisions about your finances and health care if you aren't able.
It might be time to rethink the "gift" you want to give. Money is less important to your loved ones than making sure you're all taken care of. Contact our office today and let's set up a meeting. We'd love to help you get started.