While many people readily associate estate planning with legal documents like wills and trusts, which typically only come into play after an individual’s death, the process also relates to many important long-term care and end-of-life matters. While individuals tend to plan for their retirement in terms of funding an IRA and 401(k), it’s also important to consider and plan for your future living arrangements and health care needs.
For example, if physically and/or cognitively impaired, do you plan to move in with a relative or find a skilled nursing home facility? If the later is more likely; how do you plan to afford the nearly $7,000 per month that the average nursing home charges for a private room? An attorney who specializes in estate planning and helping individuals plan for long-term care will help you review your options and formulate a plan for achieving your set goals.
In addition to planning for later-life living arrangements, an estate planning attorney can also assist in helping you draft a living will. This document is important to have at any age, but especially as you age and may experience health problems. Included in a living will are explicit directives that serve to inform and instruct medical professionals on what types of interventions should and should not be taken in the event that you are incapacitated and unable to communicate your wishes.
Additional resources provided by the author
For more information, please contact estate planning attorney Regina Kiperman:
Phone: 917-261-4514
Email: rkiperman@rklawny.com
Or visit her at her new location:
80 Maiden Lane
Suite 304
New York, NY 10038
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