Top 10 MISTAKES Handling Aging Parents’ Affairs: Estate Planning Tips!

California Estate Planning Attorney discusses Estate Planning basics for aging parents, long-term care insurance, Living Trusts. 👉 Book a Call at cunninghamlega.... for Estate Planning Lawyer assistance on Living Trust, Will, Tax Planning.
Are you prepared for the legal and financial issues involved in caring for an aging parent?Do you have an asset management plan? Even the smartest, most educated of adult children make enormous mistakes when dealing with their aging parents’ affairs.
In this legal webinar, we talk about the top 10 biggest mistakes most people make, including:
1. Assuming everything is in order, for example, do you know if your parents’ insurance covers long-term care? How do you protect your parents from financial scams? Why you need to take care of things while your parents are still of sound mind.
2. Trying to handle everything yourself
3. Failure to secure appropriate housing and/or long-term care insurance
4. Delaying difficult conversations
5. Being legally unprepared and not having documents like:
a. Living Trust
b. Pour-over will
c. Durable power of attorney over property
d. Advanced healthcare directive
e. Assignment of personal property
f. Deeds
g. Other advance care planning documents
h. Other documents such as: financial records, statements, bills, life, medical, and
property insurance docs, tax returns
6. Underestimating the long-term in terms of long-term care
7. Ignoring self care
8. Mishandling difficult people
9. Paying caregivers under the table (especially in California!)
10. Doing nothing
We talk about why you need to put together an estate planning “A-Team” of qualified experts including a trust and estate lawyer, CPA, financial advisor, insurance professional, and even a realtor. We’ll also take on other tough topics, like dealing with difficult siblings, step parents, and avoiding liability exposure for acts or omissions.
If you have an aging parent, or even if you are one, you don’t want to miss this important estate planning information!
To watch this video on our website, click here: www.cunningham...
For more information about estate planning and aging parents, click here:
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👉 Book a Call at cunninghamlega....
for California Living Trusts, Estate Planning, and Trust Administration.
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CONTACT us at cunninghamlega.... to discuss estate planning, keeping your last will or living trust up to date, and find out about upcoming California estate planning events. Offices throughout California.
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#cunninghamlegal #estateplanning #longtermcare

[@anthonyfontana6515]

Exactly what I needed to hear, thank you!

[@CunninghamLegal]

You're so welcome!

[@TheDoglover1970]

Thank you for this. A lot of great information about a difficult subject.

[@CunninghamLegal]

Of course! Thank you for leaving a comment. Don't forget to subscribe for more content! :)

[@LP-jn4tw]

This video was a real labor of love for your fellow humans. A million good karma points to you. 🙂

[@CunninghamLegal]

Thank you! That means so much to hear. I really hoped this video would be helpful/meaningful for others

[@kimmirandaart9909]

Thank you for talking about this, it’s a heavy subject but necessary and I worry about it 😢

[@CunninghamLegal]

Of course! Our goal is to educate people on Estate Planning. Thank you for your comment & we are happy we could help you.

[@cherylvickers1311]

All your advice is great. but how to handle any of this if the parent doesn’t want to move or allow us to help

[@CunninghamLegal]

Hi, please remember that this is not legal advice. If you believe you are dealing with incapacity, please reach out to our Trust Administration department. We are currently offering free 15-minute phone calls with our attorneys to determine if we can help you: www.cunninghamlegal.com/california-law-offices/contact/

[@ElderCareAttorneysArkansas]

It is not always easy to get great estate planning tips. We have many kids with aging parents who need our assistance to create legal documents like power of attorney since their parents don’t feel they need help and yet they really do.

[@CunninghamLegal]

Hello! We agree, you have to not only educate yourself on estate planning but ensure that you are going to the right attorney. In my book, "Savvy Estate Planning," I got over how vital it is to choice the right EP firm to handle your needs. Thank you for watching and we will see you next time! Please subscribe!

[@cherylvickers1311]

my father has a living trust. How do we obtain power of attorney if my father doesn’t believe he needs it. He doesn’t think he has any memory issues. We have multiple apartments, the house and expenses that need to be done. He has children willig to help but he believes we are tryig to steal from him. He doesn’t understand the inflation. He has always been an independent person and can’t give up the control. Should we call his lawyer and dexcribe to him what is happening or will that just make matters worse

[@CunninghamLegal]

If you believe you are dealing with incapacity, please reach out to our Trust Administration department to see if we can help you. We are currently offering free 15-minute phone calls with our attorneys to determine if we can help you: www.cunninghamlegal.com/california-law-offices/contact/

[@cyanginpedro]

Whew this one’s a real downer Jim. 😂

[@CunninghamLegal]

Hi Christopher! Thank you for watching! We are happy you enjoyed it, we love bringing smiles to people's faces. Be sure to tell your friends!