7 Ways Seniors Can Prepare for the Future | Legalshield Associate Blog

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Blog Estate Planning

7 Ways Seniors Can Prepare for the Future

July 2024

Estate Planning

Growing older comes with many challenges, but estate planning does not need to be one of them. It is important to prepare for medical emergencies and the distribution of your estate. Take advantage of your LegalShield Membership to begin the estate planning process.

Your LegalShield provider law firm is ready to assist you with your estate planning and help answer your questions.

1. Prepare estate planning documents so that upon your death your assets will pass exactly as you intend. As a LegalShield member, you can get consultation and assistance with such personal legal issues as a Will, Living Will, Power of Attorney, and Living Trust, or other estate planning for a fraction of the typical cost.

2. Prepare a Durable Power of Attorney so that someone you trust can make decisions on your behalf in the event you are unable to do so. Who do you want to handle your affairs if you are incapacitated?

3. Prepare an Advance Directive (Living Will) which is a legal document related to life sustaining treatment decisions and allows you to make your wishes known regarding end of life decisions when you are unable to do so. It also includes other provisions.

4. Prepare retirement and disability plans so that your care upon retirement or disability is not left to chance. Is Social Security enough to sustain you?

5. Review all private and governmental benefits to which you may be entitled, including life and health insurance, government assistance programs, private pension and benefit plans, to ensure that you receive the maximum benefits to which you are entitled. Are you entitled to military, retirement or other benefits?

6. Prepare a comprehensive summary of assets and benefits, including all bank accounts, savings accounts, CDs and other assets together with all benefits for which you are or may be eligible.

7. Prepare an Important Papers Packet containing vital documents and your comprehensive summary of assets and benefits. The packet should include copies of your Social Security card, life insurance policies, Will, military discharge papers, medical alerts, names and addresses of your physicians, immunization records, other important medical information including allergies, deeds, and titles or bills of sale of particularly valuable property, such as fine jewelry. Make sure your executor knows where to find your important papers.

Pre-Paid Legal Services, Inc. (“PPLSI”) provides access to legal services offered by a network of provider law firms to PPLSI members through membership-based participation. Neither PPLSI nor its officers, employees or sales associates directly or indirectly provide legal services, representation, or advice. The information available is meant to provide general information and is not intended to provide legal advice, render an opinion, or provide any specific recommendations. The post is not a substitute for competent legal counsel from a licensed professional lawyer in the state or province where your legal issues exist, and the reader is strongly encouraged to seek legal counsel for your specific legal matter.