Learn more about how seniors can consider caregivers in their estate plan.
A caregiver, sometimes called a caretaker, is any person who provides care services to another. Seniors who need care may have a caregiver, who may be an adult child or their spouse. Some professional caregivers can be hired through agencies. Depending on their relationship with the person under care, a caregiver may or may not be paid. Many people choose to include caregivers in their estate plans so they can be repaid for their hard work and compassion after their patient’s death. How can seniors and caregivers use estate planning? When you partner with The Millman Law Group attorneys, we can help you create an estate plan that includes your caregiver in a thoughtful and meaningful way.
What Do Caregivers Do?
The role of caregiver is significant because caregivers can provide anything from personal care to medical care. They can support the individual receiving care by doing laundry, cleaning their home, driving them to and from appointments, and administering medication. This person might also prepare food, coordinate medical visits, and manage financial matters. Feeding, grooming, walking, and bathing can also be included on the list of duties.
Being a caregiver can be an arduous and sometimes thankless task. Whether your caregiver is a paid individual outside your family or an adult relative, including your caregiver in your estate is an additional way to show appreciation for all they did for you.
Having a Conversation About Your Estate Plan
As individuals finalize their estate plan, it’s crucial to communicate with family members and anyone else in the plan. These conversations may feel uncomfortable initially, but in the end, everyone will feel more reassured. We can recommend a few tips for having these conversations:
- Don’t wait: Don’t wait to discuss your plans until you’re in a pinch, or your decision-making may be rushed and ill-informed
- Practice patience: Talking about complex topics may require time and patience until people open up. You may even need a few conversations regarding a topic until the matter is resolved.
- Use a mediator: If emotions are likely to run high, you may find it helpful to bring in a mediator. This may be your estate planning attorney who can remain objective and keep a level head to help others stay grounded during the conversation.
How Can You Leave Money to Your Caregiver?
When you create your estate plan, you are entitled to leave money to anyone in any amount of your choosing. Your estate plan is the best way to deliver assets or wealth to a beneficiary. If your caregiver is a family member, you may leave them an additional sum through your Will or Trust. If you don’t think cash is sufficient or have as much to give, you may transfer assets to them, such as your home or sentimental heirlooms. You might also designate them as the beneficiary of your life insurance plan.
If you want to leave money to a caregiver who is not a family member, you may do so, although it is often best to give your family notice of your plans in advance. Finally, update your lawyer on your plans and document that you were of sound mind when making this decision.
Establishing an estate plan may be intimidating, but with The Milman Law Group on your side, the process is easier than ever. If you are a senior hoping to leave your caregiver with something lasting to show your appreciation, we can help you create a plan that does that.
Estate Planning Made Easy With Millman Law Group
Millman Law Group, PLLC is rare because it’s one of the only law firms that offer life planning in South Florida. From life care planning to the preparation of detailed estate plans, Millman Law Group has committed to serving Floridian elderly communities in Boca Raton, Palm Beach County, Ocean Ridge, Hillsboro Beach, and many other areas since 2018. Our dedicated team also specializes in special needs Trusts and catering to any age demographic because we know for certain it’s never too early to start preparing you and your family for your future. For the latest news in estate planning and elder care law, follow us on Facebook, Twitter, Linked In, and Pinterest. You can also contact us at 561-463-6480.