A significant portion of people who have reached an advanced age will tell you that they’re comfortable with their own mortality. When you look back at your life and feel as though it was a full one you may feel quite grateful and have no regrets, but there’s one thing that can be very difficult for many elders to cope with.
From the time your first child is born you feel that sense of loving responsibility that goes along with parenthood. Even as your children grow older there are instances when they come to you for advice, guidance, and sometimes much needed financial assistance. Then when you have grandchildren that fabric of family responsibility grows deeper and you have two generations that rely on you in some ways. So when you enter the latter stages of your life letting go of that sense of responsibility to your loved ones can be the most difficult thing to handle.
This is something that everyone must go through, but when you take the matter to heart you may recognize just how meaningful your legacy can be. Though you can’t be there for your children, grandchildren, and great-grandchildren forever you can anticipate needs that they may have and plan your estate accordingly.
There are trusts that can be created that can make resources available to your loved ones for the long haul. In addition, provisions can be made for the education of your younger family members so that they have the background that they need to achieve their full potential as human beings in their own right.
Depending on your resources it may take some careful and pointed planning over a period of time to be able to reach all of your legacy goals. The sooner you recognize what it is that you would like to achieve the more time you’ll have to reach your objectives, and the best way to devise an intelligent plan is with the assistance of an experienced elder law attorney.
Alan Augulis, Estate Planning Attorney
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