Senior Sunrise

When it comes to preparing for death, there is a litany of facets to consider. Most people remember to make preparations for the funeral, the will and medical assistance, but there is also the mental well-being of the person to account for. When death is imminent, there are dozens of questions and fears that generally pop into people’s minds.

In philosophy, religion, literature and art the phenomenon of death is often explored. However, looking at death in our youth is much different from those who are well aware that they have months or weeks to live. During this time, it is important to be supportive and to work with the person to cope with these inevitable doubts, questions and trepidations.

Establishing a will is virtually a necessity in this day and age, but a living trust is also a sound measure. The first question that people commonly have is “what is a living trust?” A living trust is created during a person’s life and serves as a means to save on taxes and manage property in the long-term.

The main purpose of a living trust is to avoid probate after a person’s death, which is a lengthy and costly process. It will also help reduce estate taxes and streamline the process of allocating the assets. Often times the living trust also has specific directions in the event that the person becomes incapacitated and is unable to communicate their wishes.

Preparing for death can be a sobering experience, but the good news is that once you’ve got the planning out of the way you can focus on enjoying life. No one wants to leave family and friends with a financial and logistical burden after death, and by drafting a living will you can prevent that scenario from ever playing out. The first step is to contact a lawyer you trust – or have a close family member make the arrangements.

You’ll be instructed to compile a list of all of your assets – both real and financial. Real assets include vehicles, homes, jewelry and other tangible valuables. Financial assets include shares in stock, savings bonds and the like. Then elderly planning entails systematically deciding which assets should be bequeathed to what particular inheritor. Finishing this process will give you serious peace of mind.

At a certain point in our lives reality hits, and we realize that time is passing quickly.  We look around us, and not only do we see our sons, daughters, and grandchildren getting older, but we see ourselves aging. 

There are so many questions that follow that stunning reality.  Are my things in order?  Do I have a will?  Should I make a Living Trust instead of a will?  How do I decide who gets what, or to whom do I leave property and/or money   These questions and more can make us few stressed out and anxious.  To be able to decide what to do before it’s “too late” every senior should take the time, with someone they trust at their side, and make a decision about either making a Living Trust or Will.  

The idea of having to do this is sometimes haunting, but the completion of such brings peace and calm.  The positive outcome, of course will be knowing that your personal things, & more have been accounted for not only in your lifetime, but in your death as well.  Your family will know that what you have decided is to be fulfilled, and they also will be grateful that your wishes have been followed. 

Just as you were once totally dependent on your parents, so as they age, they will become increasingly dependent on you.  This can be a joy or an enormous burden.  Here are some ways to help them, without compromising your plans.

1. Walk in their shoes - The hopefully gradual physical decline of old age can be very depressing. Imagine what you’ll feel like when it happens to you.  It will help you understand how they feel.

2. Encourage experimenting - Older people focus too often on what’s no longer achievable. Get them to try new things you know are possible.

3. Agree to the ground rules. - If you don’t want them to ring you every evening for a chat, suggest a time and frequency you can both live with.

4. Accept the gifts - At times, old people seem desperate to give stuff away.  Accept their gifts but be prepareed to return them later if necessary.

5. Keep them moving - Even though the joints might creak and they can not longer run, it’s important to keep them mobile.

6. Don’t take bribes - You might like the idea of your parents buying you a big house so that you can all live together. After 20 years though, it might not be so much fun. 

7. Ignore emotional blackmail - It’s tough, but just because they wiped your bottom when you were a baby, you don’t need to nurse them when they’re old. Help out by all means, but don’t become a caregiver, unless that frms part of your own life plan. As their child they look to you for emotional support, as did for you when you were younger.

8. Hear it again - Old age is a time when favorite anecdotes and stories are shared time and time again.  You need to be patient and let them tell you the same stories again and again.

9. Answers to ultimate questions - Your again parents will be more aware of their own mortality than they have ever been before. Preparing for death   is a scary prospect; encourage them to explore their faith if they have one.

10. Lost some marbles - Remember that the brain fades in old age.  They might not understand how demanding they’re becoming. Remember, emotional support is needed in preparing for death

These days, people spend a great deal of time working in the hope of advancing materially in life.  They worry constantly about the assets that they acquire, what will happen if they go before they are ready. So, what can be done?  We ask, what is a living trust? 

A living trust is an arrangement under which one person called trustee holds legal title to property for another person called a beneficiary. It is simply a trust created while still alive rather than one that is created upon death. There are different kinds of living trusts and each can be helpful in different ways.