Has your aging parent recently been diagnosed with Parkinson’s Disease? This diagnosis is truly impactful for both your aging parent and your family. Of course, there are many emotions and concerns for your aging parent and what lies ahead for them. However, we know that you can be confident that a comprehensive Florida estate plan can be a source of hope and security. Starting estate planning now not only ensures that the preferences of your aging parent are recognized but also secures their medical and financial directives.
In our law firm, when there is an early Parkinson’s diagnosis, we understand the gravity of the situation and our goal is to offer guidance on critical estate planning steps to consider. We want to empower your aging parent with the best knowledge and security that can come from working with an experienced Florida estate planning attorney. We know and understand the challenges of your aging parent and can help protect them, their legacy, and their family.
Parkinson’s Disease and its potential progression can vary from person to person and it is important to understand what this might mean to your aging parent. This knowledge will help guide the decisions your aging parent will need to make regarding their future living conditions, healthcare necessities, and the need for everyday support. Working with an experienced Florida estate planning and elder law attorney to devise a plan that anticipates these needs, questions and decisions is vital.
Does your aging parent have a Florida estate plan in place? If the answer is yes, then a thorough review and possible revisions with their attorney may be necessary to be sure they reflect the current wishes of your aging parent. This may include not only asset distribution, but the care of your aging parent. What does your aging parent want for the future, which may include a future where they may not be able to act independently.
The estate planning attorney for your aging parent may want to discuss how to incorporate a trust agreement into their estate plan. Adding a trust agreement to the estate plan of your aging parent can offer enhanced control over the use and distribution of their assets during their lifetime and beyond. Trusts also allow for the private, court-free management of their affairs, minimizing family disputes and maintaining confidentiality.
Another important piece of advice is to update or establish your Florida durable power of attorney. This is a critical legal tool that enables your aging parent to designate a trusted individual to oversee their financial matters and asset management in the event they are incapacitated. This trusted individual can also seek public benefits on the behalf of your aging loved one which may be crucial for long-term care financing. In addition, it is important for your aging parent to clearly state their healthcare and end-of-life care preferences with their estate planning attorney. Early documentation of these wishes guarantees their respect, regardless of the ability of your aging parent to communicate them in the future.
Without question, your aging parent needs to begin to prepare for potential long-term care needs. Because Parkinson’s is a progressive disease, long-term care planning is essential. This planning includes exploring insurance policies, Medicaid planning, and other avenues for funding home care, assisted living, or nursing facility expenses. A knowledgeable Florida estate planning and elder law attorney can offer invaluable advice on protecting the assets of your aging parent while ensuring access to necessary care.
Finally, despite the challenges posed by an early Parkinson’s diagnosis, it allows your aging parent a great opportunity to assert control over their future through meticulous estate planning. By using these estate planning steps, you can guarantee that the preferences of your aging parent are respected and they are well-prepared for the road ahead. Working with an experienced Florida estate planning attorney is instrumental in navigating the specificities of the situation of your aging parent and will give them peace of mind.
We know this article raises more questions than it answers. Embarking on estate planning following a Parkinson’s diagnosis is a step towards securing your future. Don’t delay in beginning this crucial process. At Britton G. Swank, P.A., our mission is to guide you in the right direction to help you provide for yourself and your loved ones no matter what the future holds. We want to help you control the assets you have, leave them to people and causes you care about, when you want, in the way you want. We can help you take care of yourself and those you love in the event of disability due to illness, injury or old age. No matter what risks unfold, we can help give you the comfort of knowing you are prepared. We want you to feel good about your future and the future of your loved ones. We encourage you to contact us and schedule a meeting.