People undertake projects every day. Some are completed successfully and others not so much. Of the failing projects it is often said that mistakes were made. People in Colorado are not immune to failure and a project where mistakes can happen is in estate planning. A basic understanding of what a plan should aim to accomplish can help avert mistakes.
Americans are living longer and healthier lives. But no matter how hard a person works to delay the onset of old age and preserve one's health into later years, at some point, most people will require some form of assistance. One aspect of elder law in Colorado and across the country is to plan for possible disability later in life.
Having a loved one with Alzheimer's disease can be difficult. Though many people in Colorado and across the country receive this diagnosis, the progression of the disease and the way it affects each individual can differ. In any case, it is wise for families to consider their estate planning options after learning this news.
Is estate planning really necessary? Some individuals may feel that they are not wealthy enough to actually need an estate plan. To be honest, estate planning takes time and money that some Colorado residents may feel can best be spent elsewhere.
Control is an essential element for many Colorado residents. They want to control their environment, their day-to-day activities and even their destiny. While it is not possible to have control over all future events, there are some areas you can. By planning ahead and appointing someone to hold durable powers of attorney, individuals can still maintain some control in case they become ill or incapacitated and are no longer able to make decisions for themselves.
Once the dust settles and the family begins to accept the fact that their loved one has died, the next step often is to begin the process of settling the estate. Hopefully, the Colorado resident left a will and other relevant estate planning documents in a readily accessable location. Unfortunately, this is not always the case, and the family must begin and extensive search for the important documents.
There are some things that Colorado families simply do not talk about with those outside of the immediate family. For some, these things may include politics, religion and finances. For others, it may be the wayward child or long-lost relative. Regardless, when it comes to estate planning, some of these issues will need to be addressed when meeting with one's attorney.
Whether you have an estate plan in place or are just beginning to think about how to distribute your assets, charitable giving has probably crossed your mind. Supporting a cause you believe in is, to be sure, a worthy endeavor. However, it's reasonable to be unsure of where to begin.
For some Colorado residents, the thought of developing dementia or Alzheimer's is a frightening possibility. Unfortunately, this can become a reality. Although there is currently no cure, there are steps that can be taken now to direct the treatment he or she wishes to receive after the ability to make such decisions has passed. Along with open, honest discussions with one's family and physicians, the use of advance medical directives can be beneficial to all involved.
A substantial amount of misinformation is floating around regarding a number of topics. While some myths and falsehoods, like which celebs may be getting divorced, may have no major bearing on Colorado residents' lives, some incorrect information could result in unnecessary difficulties for individuals or their families. For instance, there are certain misconceptions about estate planning that many people mistakenly believe.