AN INVALUABLE GIFT THIS HOLIDAY
Now that the warm, humid days of summer have given way to the cool, crisp nights of fall, many of us begin to think of the holidays. Thanksgiving, Christmas, New Years, and Hanukkah are special times we all share with loved ones, family, and close friends. Now is the time to give thanks for our many blessings and to pause as we consider the ending of another year and the beginning of a new one. Many of us have extra time off from work to celebrate these special times with one another. With this in mind, this is also a great time to talk with loved ones about plans for the future. With the New Year fast approaching, take time now, while you have it, to discuss some important issues with the ones you love most. If your discussions lead you to conclude that your personal matters need attention, make plans now to set up an appointment and meet with a professional and organize your affairs as we enter 2018. The New Year is a great time to turn over a new leaf and get your affairs in order!
For example, talk with your spouse and discuss whether you both have wills, living wills, powers of attorney, trusts, and other legal documents in the event the unforeseen should happen in the New Year. If your attorney has already drawn up these documents, how long has it been since you dusted them off, sat down with your spouse or children, and reviewed them? Are these documents up to date? Have circumstances changed since you last prepared those documents? Have you remarried or divorced since you did your will? Many times, those of us who have remarried bring children from previous marriages into the mix. Children from different, former spouses, from both husband and wife, can present complex issues when one spouse dies. Hurt feelings are inevitable if these issues are not addressed before a spouse passes away. Has a spouse or child named in your will passed away since these documents were prepared? Have you changed your mind regarding who you want to administrator your estate and affairs? Have new grandchildren arrived that you wish to make note of in your will? What about your living will? Does everyone understand what your wishes are should you become incapacitated? Have you changed your mind about certain decisions since you had this document prepared? These are but a few of the questions you should ask yourself and your loved ones this holiday should you be given a few quiet moments during this special time of year to spend together.
How about your parents? How old are they now? Can they take care of themselves? Does someone care for them now or check on them regularly? Do they have their affairs in order? Have they discussed with you what they would like to happen in the event that something unforeseen should happen? If something should happen, do you know what they want or where their legal documents can be located? Could you find them easily while dealing with the loss of a loved one? What if they are incapacitated in the hospital? Do you know what their wishes are should you be called upon to make a decision regarding their health care? Have you made sure that your older family members such as parents, aunts, uncles, or other relatives are being protected financially? Are they being financially victimized by someone they trust? Many elderly people trust others too easily and are often taken advantage of by unscrupulous relatives, neighbors, friends, and strangers who develop a close friendship with them. This often happens without the knowledge of other family members. By the time the deceit is discovered, it is often too late. Fortunes can be, and often are, stolen and spent, and are rarely recovered. Try and sit down with older family members to discover whether or not they are protected from such predators. Are they still able and competent enough to make good financial decisions? Does someone help them pay their bills and handle their checkbook or savings? How much power does this person have over a loved one's finances? Are they audited regularly or does someone check to make sure that all is as it should be?
Regarding elderly family members, especially parents, make sure you understand their wishes in the event of death or hospitalization. Have assets been dealt with in the event that these family members must consider nursing home care? Are they protected and would you know what to do? It can be difficult, heartbreaking, and traumatic to try and deal with these issues after the death of a loved one. What can be worse however, is trying to discuss these issues when a loved one is hospitalized, in pain, near death, or incapacitated. Trying to help them decide in such circumstances is heart wrenching for both you and them. Don't wait until it is too late, or almost too late. Get these affairs in order with your loved ones now. Make plans this holiday season to discuss these subjects with the ones you love, while time permits and you have an extra day or two home from work to spend with the ones you love most. If you discover that your wishes or the wishes of a loved one are not crystal clear, set a date on your calendar to see someone in the New Year when the rush of the holidays are gone and the cold, grey days of January give us time to slow down and organize our affairs. Do it now for yourself and the ones you love most. This might be the best Christmas present you ever give your family and yourself! Merry Christmas and Happy New Year to all!
(The information provided in this article is for informational purposes only and is of a general nature. The information should not be construed as legal advice. If you have any questions about the subject matter of this article or related matters, you should consult with a professional advisor for advice. Deirdre W. Edmonds previously served for twelve years as Horry County Probate Judge and is currently the owner of The Law Office of Deirdre W. Edmonds, PA, located at 1500 Highway 17 North, The Courtyard, Suite 213, Surfside Beach, SC 29575. The Law Office of Deirdre W. Edmonds, PA focuses on estate planning, probate administration, probate and trust litigation, disability planning and elder law. Contact Deirdre W. Edmonds via Telephone: (843) 232-0654; Website: www.dedmondslaw.com; and Email: dedmonds@dedmondslaw.com.)