The top reason to delaying end-of-life planning conversations with a parent was that it was too early because the loved one wasn’t sick yet, according to a survey by The Conversation Project. Other reasons include the subject makes them uncomfortable, they don’t want to upset their loved one, and that the time just never seems right. One-fifth of Americans are waiting for their loved ones to bring the topic up first. Estate planning lawyers advise talking with your parents when they are mentally competent and can make their own choices and decisions, not after a crisis occurs.
If a parent begins to experience memory loss and you then consult an attorney and draft a will or change an existing will, that will could be challenged based on lacking mental capacity to execute a will.
A medical emergency could happen at any time but is more likely to occur with an elderly person. Advance health care directives and a power of attorney can ensure your parents that their wishes are respected if a medical emergency occurs.
Family conflict is the #1 threat to estate planning. To minimize the risk of potential future family conflicts estate lawyers encourage our clients to talk to their families and have an open and honest conversation about their plans.
Most wills allocate valuable assets but do not always distribute sentimental mementos such as recipes, photo albums or videos. Assets with emotional value should be included in your estate planning.
As memories slip or hobbies pass, elderly parents can lose track of passwords, cyber currency, cloud storage and other online accounts such as social media.
A Good Goodbye is a podcast by The Conversation Project to start the conversation on the topic of how to discuss end-of-life wishes with loved ones and hosted by Gail Rubin, a pioneer death educator.
An Illinois estate planning lawyer can help you protect your parents’ rights and interests and work with you on end-of-life planning and decisions. Consulting an experienced probate, trust and estates attorney in Chicago or Lombard can give you advice and discuss your legal options. Contact the Estate & Probate Legal Group at 630.800.0112.