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Your Aging Parents and How to Prepare for their Long-Term Care

6/29/2022

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While every situation is unique, when it comes to caring for an aging parent, effective planning is crucial to success. Whether you need basic information about eldercare resources and services, are looking for a local agency to provide those services, or have worries about legal documents or how to finance your parents' care needs now or in the future, the time to begin planning is today. 

The American Public Broadcasting Service (PBS) and television program distributor provides an online handbook, Caring for Your Parents, that offers good preparedness strategies. These planning strategies, links, and tools are also transferable for spousal care, other elderly relatives, or caring for a loved one who is chronically or critically ill with significant ongoing needs. The PBS handbook, designed by WGBH Educational Foundation and the MIT Workplace Center, addresses a wide variety of situations and is even appropriate when considering your own needs as you age.

In terms of an aging parent, it all begins with an open and honest conversation. You might be fortunate and know your parents are well prepared for their future, but most Americans will face situations where loved ones will require additional help and resources. If your parents have a solid aging plan with proper legal documents and financial backing, know that you can access that paperwork and account information. 

If there is no plan in place, take small steps to prevent overwhelming your parents, listen carefully, and be prepared for some denial. Discuss living at-home safety, bringing in outside services and caregivers into their home. Also, broach assisted living or nursing homes and if your parents' have a valid will and health care powers of attorney. Define their healthcare and living needs for the present and the future.

When locating services remember that services vary widely among states and regions. If you care for your elder parent but do not live nearby, look for resources in the state and neighborhood where your loved one lives. Be persistent; no one resource has all the answers. You may receive advice that something cannot happen when in fact, it can. Request an "Information and Referral" (I&R) specialist. These specialists have the proper training to answer a wide range of questions and connect you to services. 

When establishing a care plan for your aging parents, realize that good intentions can quickly derail without legal documents in place permitting you to make decisions on their behalf. The quality of life and end-of-life care your parents receive is inextricably linked to proper legal documentation. When making plans and acquiring eldercare services, be certain to speak with an elder law attorney who can provide an overview of the aging process from a legal perspective and identify your parents' specific needs. Health care powers of attorney and living wills will enable you to make decisions based on your parents' beliefs, values, and wishes when they are no longer able to decide for themselves.

At The Knee Law Firm, Ltd., we consult with families every day on both care and legal needs of family members as the two are closely related and should be considered together. If you would like to discuss your or your loved one’s particular needs, we would be honored to speak with you.


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TOP Estate Planning MYTHS

6/24/2022

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  • Having a will is the same as having an Estate Plan. 
    • FALSE - ​A will is just one essential piece of an effective Estate Plan.
  • Only wealthy people need Estate Planning.
    • ​FALSE - Regardless of income level, Estate Planning is important for everyone. An effective Estate Plan is not only designed to protect assets. It's designed to protect you, your family, your home, etc., and puts you in control of how decisions should be made if you are no longer able to make them for yourself or after you die.
  • Only people with children need Estate Planning.
    • ​FALSE - While child guardianship and providing for children financially is involved in the planning for some people, there are many considerations that go into Estate Planning beyond that.
  • Only people who own a home need Estate Planning.
    • ​FALSE - There are many considerations that go into Estate Planning beyond just those relating to how property and other assets are passed on.
  • The Estate Planning process is lengthy and complicated.
    • ​FALSE - While the timing can depend upon the complexity of your planning, the team at The Knee Law Firm, Ltd. works with clients to keep things on track from beginning to end in a matter of weeks.
  • Estate Planning is only helpful after you pass away.
    • ​FALSE - Effective estate planning allows you to make decisions on how to handle things while you are here, as well as for when you die. If you can no longer manage your affairs, or no longer wish to, your plan assigns someone who can step in. It's a way to protect you and your loved ones today and into the future.
  • You don’t need Estate Planning if you’re young & single.
    • ​FALSE - It's a good idea for anyone who is single (and over 18 years old) to assign trusted individuals to handle their property and healthcare decisions in the event they are unable to. Effective planning can do that, as well as so much more.
  • Estate Planning is too expensive and not worth it.
    • ​FALSE - Effective Estate Planning can actually SAVE your loved ones money AND stress by helping to avoid probate hassles and costs, and by providing a road map of your wishes.

​Connect with us to find out why an effective Estate Plan is important for everyone.

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Benefits of hiring a real estate lawyer

6/24/2022

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If you are buying or selling a home for the first time, you may or may not be aware of all the legal processes that come with buying a house. A lot of people will research laws and learn as much as they can, but nobody will know more about real estate law than a professional real estate lawyer. When you hire a real estate lawyer, they will make sure you are 100% protected as you make one of the biggest investments in your life. If you are looking to hire a real estate lawyer, here are some of the many benefits that you will receive when you do!
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Experience reviewing contracts

Your real estate contract can be very lengthy and riddled with legal jargon that you have never heard of. When you hire a real estate lawyer, they will read over your contract thoroughly and make sure you understand the terms you will be signing for. If you lawyer notices a clause that might end up costing you later on, they will let you know and give you guidance for a course of action. They will make sure you and your family are protected by ensuring you are signing a contract that will benefit you.

They will make sure the buying/selling process goes smoothly

No matter where you want to buy your new home, your real estate lawyer will make sure everything goes smoothly. Your lawyer will act as your advocate when you are at the site location, and will be your representative when you can’t make it, making sure all the proper wheels are in motion. 

Your real estate lawyer will handle the title search

When you are buying a house from somebody else, you have to be sure that they have the right to sell the home. Your lawyer will do their due diligence to make sure everything is legitimate. Some homeowners have inherited houses with wrong title names or have titles that have liens against them, making it illegal for you to actually buy the home you have your eye on. Your lawyer will reassure that everything is up to snuff and you can begin the process of buying your dream house!

Filing paperwork

When you hire a real estate lawyer, they will take care of all the paperwork involved with buying a house. They will make sure that the title transfers are properly filed in the right county or city. Having a professional handle all of your paperwork will free up a lot of time for you to focus on the actual moving process like packing your boxes, cleaning your home, and figuring out which dates your move-in will take place.

If you are looking for trusted, experienced, and professional real estate lawyers, the team at The Knee Law Firm, Ltd. will be happy to help by allowing you to minimize the stress that comes with buying or selling a home.
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​​​THE KNEE LAW FIRM  LTD
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PH 847-807-5633        FAX 847-637-0487​
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  • Home
  • ABOUT KLF
    • BILL KNEE
    • THE KNEE LAW FIRM LTD
  • KLF Services
    • LONG-TERM CARE PLANNING
    • ESTATE PLANNING
    • REAL ESTATE
  • EVENTS
    • Maria Ananieva Installation & Gallery Reception
  • Contact us
  • Pay an Invoice
  • Resources