Critter Corner: The Best Way to Show Your Loved Ones That You Care This Valentine’s Day

Dear Angel,

On Valentine’s Day, most people buy chocolates, flowers, or jewelry, and go out for a fancy dinner or get carryout these days.  As a recent widow (my husband passed away two years ago), I don’t have a special someone to share such gifts with, but I do have children and grandchildren. Do you think an estate plan is a good idea for a meaningful gift for my entire family? 

Val Entyne

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Dear Val,

I am so sorry for your loss. Please know that putting a thoughtful estate plan in place is a selfless act of love that benefits those loved ones you care about so deeply.

Here are some ways to show your love to your family:

– A Revocable Living Trust will ensure that your loved ones are financially secure after your passing. A trust helps avoid probate and gives your loved ones more control over the way their assets are passed down. It can also protect them and/or their children from future lawsuits, divorce, medical bills, and other of life’s many financial risks.

– An Advance Medical Directive can help avoid some of the most stressful times for families — when someone has a health scare. Don’t wait for that to occur. Make sure your loved ones have an updated advance medical directive including a healthcare power of attorney / health care proxy naming someone to make decisions for them if they cannot make them because of a temporary or permanent medical condition. A well-drafted advance medical directive will bring structure to an otherwise emotional, hectic, and difficult time. 

– A Gift of a Financial Power of Attorney will allow your loved ones to name someone to access their funds and pay bills if your love one suffers from a short-term or long-term illness or incapacity, without the need for lifetime probate involving guardianship and conservatorship supervised by the court. 

Giving the gift of Estate planning is an act of love that will give your loved ones peace of mind for a lifetime. When you help your children plan their estates, you are showing your whole family that you love them so much that you want to save them a great deal of the stress and strife that can occur when someone becomes incapacitated and when someone dies. For estate planning, elder law, financial planning, or retirement planning needs, be sure to make an appointment for a no-cost initial consultation at the Farr Law Firm.

Hope this helps,

Angel

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