The Elephant in the Room

We all hear statistics like 70% of seniors over 65 today will need long term care during their lifetime. However, the vast majority of families do not discuss their estate plans with one another. The discussion of estate planning can be taboo and stem from long-held cultural beliefs. My parents have always been extremely private about money matters and certainly about their estate plan.

Valid Reasons for Privacy: Parents have many reasons for not discussing their assets or estate plans with their children. They may not trust their children and may not want to reveal the assets they have. They may not want to show their Wills and cause any controversy within the family. While these are all valid reasons, families can still suffer losses of wealth by ignoring the elephant(s) in the room such as:
• Long Term Care spending down assets and ultimately costing the home.
• Passing away without a will and having the State pass property other than what may have been intended.
• Failing to take advantage of benefits such as Veterans Pension of which they are unaware.

How to broach the subject? A parent, child or other family member could simply dive right into the matter by bringing up the subject of estate planning and asset preservation. This could be easier said than done, however, depending on the family culture and taboo nature of this subject. However, sometimes the medicine doesn’t taste great but needs to be taken anyway. This is often the case with estate planning, elder law and asset preservation. Perhaps on a holiday when the family is all together the discussion could more easily be had.

In my practice I found that getting families to open up about estate planning is sometimes hard. To remedy this I wrote a book on different aspects of estate planning and aging in America to assist seniors and their families. “Saving the Farm” could be a great gift and way to start a family member in your life thinking about saving their hard earned money and property. Available on Amazon or at: mcelderlaw.com/savingthefarm.

 

Greg McIntyre

greg@mcelderlaw.com

Elder Law Attorney
McIntyre Elder Law
123 W. Marion Street

Shelby, NC 28150

704–259–7040

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Greg McIntyre, JD, MBA

Meet Greg McIntyre

Greg McIntyre, founder of McIntyre Elder Law, is more than just an attorney. As a Navy Veteran, father to six kids, and a loving husband, he values family deeply. This drives his commitment to helping clients safeguard their futures and pass down legacies.

Greg has a passion to help people. Beyond just legal advice, he loves having conversations and strives to build a long-term relationship with every clients that comes through his door.

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Act now to secure your legacy and protect your loved ones.

At McIntyre Elder Law, we’re dedicated to assisting North Carolina families, seniors, and their loved ones as they plan for the future.

Whether you need to prepare for future long-term care, access Medicaid or nursing home benefits, or need help settling a loved one’s estate, we’re here to support you.

Contact us for a complimentary consultation to take the first steps towards safeguarding your lifestyle, your legacy, and your family’s wellbeing.

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