Michigan estate planning: Preparing for age and illness

No one really wants to think about the downsides of getting older or the potential of enduring medical diagnoses that can leave one in need of frequent care and attention. Unfortunately, age is a part of life, and illness strikes regardless if one wants it. Michigan residents can help themselves and their loves ones by taking the steps necessary to prepare and plan for age, potential illness and incapacitation well before it is needed as part of the estate planning process.

There are numerous people who depend on care from children, younger family members or even medical professional as they get older or experience major illnesses. Unfortunately, such care can take its toll both emotionally and financially over time. This is why having a plan in place ahead of time that family members are aware of can prove beneficial.

When it comes to planning for age and illness, adult children or potential care givers should be a part of the process. This way, they know what to expect, which can reduce stress and arguments. They will also have a clear picture as to one's wishes.

Those who choose to wait to plan for age or illness may end up not getting the care that they desire and may have family members who struggle to provide for their needs. This can be avoided by putting a plan in place long before it is needed. An experienced attorney can assist Michigan residents with this and the many other aspects of the estate planning process.

Source: wealthmanagement.com, "When Roles Reverse: Caring for Mom or Dad", Dr. Barbara Nusbaum, Dec. 21, 2016