Estate Planning Checklist: 5 Initial Steps You Can Take

Most of us spend little time thinking about death or losing the capacity to manage our own affairs. These are unpleasant topics and banishing them from our minds is easier than entertaining them. Death, however, is inevitable and becoming incapacitated is not likely, but possible.

What would happen if you could no longer handle your finances or communicate your health care decisions? Who would make important decisions for you about these kinds of things or manage and distribute your assets after you die? These are some of the underlying questions in estate planning.

What Is Estate Planning?

Estate planning is the process of organizing your financial and legal affairs to ensure your wishes are followed after you pass away or if you become incapacitated. It involves more than just drafting a will. It also focuses on preserving your assets, protecting your loved ones, and minimizing the tax burden on your estate. Creating an estate plan can give you peace of mind knowing that your family members and other loved ones will be taken care of according to your wishes.

Why Estate Planning Is Important

Estate planning may be the most overlooked important part of adulthood. According to a Caring.com survey, only 32 percent of Americans have a will.

People forgo estate planning for various reasons. They may think that they don’t have enough money or property to constitute an estate. They may not want to think about dying or losing capacity. Or they might delay taking the first step because the process seems overwhelming, and they don’t want to bother with it.

Yet estate planning is important for many reasons, and everyone should have an estate plan. Here are some reasons:

• Planning for Incapacity: A thorough estate plan should include an advance health care directive and a durable financial power of attorney. These two documents will allow a person of your choice to make important health care and financial decisions for you.
• Passing Along More of Your Assets: By using a will, also known as a last will and testament, and often a trust, your estate plan can increase protection of your assets and reduce taxes owed. This means that you will be able to pass along more of your property to your heirs and/or charities you want to support.
• Avoiding Probate: Without an adequate estate plan, your estate may have to go through probate court. This legal process can be time-consuming, expensive, and public. Estate planning can help you minimize or even completely bypass the probate process, thus saving your loved ones time and money, while potentially keeping your affairs private.
• Expressing After-Death Wishes: By leaving memorial instructions for your loved ones, you can let them know what you want to happen to your body after your death and what type of service or celebration you want.

ESTATE PLANNING STARTER CHECKLIST

Now that you know what estate planning is and why it is important, here are five steps to take to get started – even before you meet with an attorney to work on any legal documents:

1. Choose Agents

Think about who in your life would be best suited to make medical and financial decisions for you. You can choose one person to make both types of decisions or you can nominate different individuals to make those decisions. It can also be a good idea to pick backup agents, also known as attorneys-in-fact, to step in if your first choices are unable to fulfill the role. While family members are often a first choice, your agents do not have to be family members – think about who is in the best position to do the right things for you.

2. List Your Assets

Make a list of all your valuable assets. This list could include your home, automobiles, jewelry, financial investments, retirement accounts, and family heirlooms. Alongside this list of property, you can put the names of people you want to have each item when you are gone. Since the beneficiaries of life insurance policies and retirement accounts are usually listed on the account documents, be sure to update those so that they match what is in your estate plan.

3. List Your Debts

If you have any debts, such as credit cards, loans, mortgages, unpaid back taxes, or child support, make a list of them. The executor of your estate will need to be aware of them so that they can pay those off before any of your assets can be distributed to your heirs.

4. List Your Digital Assets and Accounts

Making a list of all your digital assets, bank accounts, email accounts, etc., along with log-in information, will help your agent and executor better manage your virtual life and digital assets.

5. Choose a Guardian for Minor Children and/or disabled adults

If you have minor children, or an adult child with a disability, you need to choose someone you trust to care for them if you and their other parent are unable to do so.

Next, Work With an Estate Planning Attorney

After you have completed your estate planning starter checklist, you are ready to start working with an estate planning attorney, like Dana. She can discuss your specific situation and help you prepare the estate planning documents that will work best for you specific needs.

Call Dana today to setup an appointment. We'd love to work for you! (530)894-2100

The Role of Assisted Living Facility Staff

Seven out of 10 people will require assisted living care in their lifetime. In 1995, the National Center for Assisted Living created National Assisted Living Week to shed light on the critical role that assisted living communities play in many older adults’ lives. This year, National Assisted Living Week runs from September 10 to September 16.

Today, 30,600 assisted living communities provide housing and care for 818,800 residents across the United States. These residents, half of whom are age 85 and older, need help with activities of daily living (ADLs). Assisted living has become an important long-term care option for these individuals.

There are about 1.5 million full-time nursing and 35,000 social work employees in the country. One-fifth of them work in assisted living facilities. This month, consider taking the opportunity to recognize the professionals who keep these facilities running. Year after year, they are providing essential support for residents’ physical, social, and emotional well-being.

Nursing and Caregiving Services: Who Are the Professionals Supporting My Loved One?

For older adults who have difficulty completing everyday tasks on their own, assisted living may serve as an ideal option. This type of setting allows residents who do not require 24-7 medical care to maintain a certain level of autonomy.

Assisted living involves less medical care than nursing homes. Staff in these facilities typically help residents to help with ADLs and monitor their health. Often, facilities that house individuals with mental or physical disabilities have one nurse on site at all times. Many facilities require their caregivers to be Certified Nursing Assistants.

Certified Nursing Assistants

Certified nursing assistants (CNAs) help residents safely complete daily activities and manage basic health needs.

In many facilities, they provide care to residents under the supervision of registered nurses (RNs) and licensed practical nurses (LPNs).
CNAs may work alongside professional aides to assist residents with bathing, going to the bathroom, and getting dressed.
They can also treat injuries and illnesses and help residents manage chronic conditions.
Nursing aides may aid in transporting residents.

Licensed Practical Nurses

LPNs address patients’ medical needs and oversee CNAs.

Working under RNs, LPNs may perform health examinations on residents and administer medication.
They may also create wellness programs and communicate with family members.

Registered Nurses

As RNs have advanced training, they oversee other staff members and may treat residents’ complex medical needs.

Registered nurses assume assisted living facility leadership roles such as head nurse or director of nursing. They often oversee other staff members and their schedules, and create plans for resident care.
RNs monitor residents to ensure their care plans are effective and their medications are working.
Some small facilities may utilize visiting nurses or part-time registered nurses as well.

Social Workers

Complementing the work of nurses, social workers in assisted living facilities support residents’ overall well-being.

When new residents arrive at assisted living communities, geriatric social workers may assess their social, physical, and psychological needs.
Social workers may provide residents with counseling as they adjust to their new environment. For example, they can get them involved in community activities and find other resources to help them feel at home.
In a facility that lacks the internal resources a resident needs, social workers may connect them to external resources. This might include referring residents to community-based services and organizations.
Licensed social workers specializing in assisted living create programming for residents to help them make social connections and remain engaged.
Public health social workers provide counseling for residents with long-term conditions, as well as their families.
Disability social workers advocate for assisted living residents with disabilities, working with the facility to meet residents’ needs.

Cleaning and Laundry Staff

Many assisted living facilities provide cleaning services to their residents.

Staff clean and disinfect common areas as well as individual units.
Those living in these facilities may receive help keeping their residences clean and stocked with supplies, such as tissues, toilet paper, and paper towels.
Housekeeping and laundry services are an essential component of assisted living.

Exploring Assisted Living

Staff in assisted living facilities provide services that allow individuals to maintain their independence while receiving essential support. If you or a loved one are exploring assisted living, consider consulting an elder law attorney for guidance. A local, licensed elder law attorney can help you assess your options.

Assisted Living vs. Nursing Homes: What’s the Difference?

Assisted living facilities and nursing homes are long-term housing and care options for older adults. Although people sometimes use the terms assisted living and nursing home synonymously, they are distinct.

Understanding the differences between assisted living and nursing homes is critical for those considering where to live as they age. This is because assisted living communities and nursing homes provide different types of care. While assisted living is appropriate for active older adults who need support with everyday tasks, nursing homes provide medical care to adults with significant health issues.

What Is Assisted Living?

Older adults who can no longer live on their own but do not require round-the-clock medical care can benefit from assisted living. While assisted living facilities can have nurses on staff, the primary focus is not on health care, but rather on supporting residents with daily life.

Activities of daily living (ADLs) are six basic activities that healthy individuals can carry out on their own on a daily basis. Depending on an individual resident’s needs, an assisted living facility can provide aid with showering, dressing, preparing meals, completing household chores, and taking medication on time at the correct dose.

While giving necessary support, assisted living communities maximize adults’ independence and autonomy. Residents typically live in private units similar to traditional apartments with kitchens that are part of larger communities offering opportunities to socialize with fellow residents. Units can have safety features tailored to older adults with mobility challenges, such as shower bars, widened doorways, safety rails, and enhanced lighting.

Difference Between Assisted Living and Nursing Home

Compared to assisted living, nursing homes may be the right fit for those with significant medical conditions requiring round-the-clock care. Nursing homes can offer more extensive health care services that are unavailable in many assisted living facilities. Therefore, nursing homes can be more appropriate for those with severe health needs.

As they provide critical medical support, nursing homes can help people with mobility complications or cognitive challenges that limit their autonomy. For instance, a person diagnosed with severe dementia might do better in a nursing home than in an assisted living facility. Some nursing homes have specialized memory care units for those with dementia. Nursing home staff can also provide medical care and supervision as well as help with the six activities of daily living.

Living in a Nursing Home

Like assisted living facilities, nursing homes also offer help with daily living, such as bathing or help with medication management, and can adapt to individuals’ needs. For instance, showers and bathtubs may have safety bars, and doors may be wide enough to accommodate wheelchairs.

Yet nursing homes offer residents less freedom and independence than assisted living communities. Those receiving care typically do not have their own kitchens and may share a room with another patient.

What Is the Cost of a Nursing Home vs. Assisted Living?

Assisted living facilities and nursing homes can constitute a significant expense for residents and their families.

According to SeniorLiving.org, the median cost of assisted living in 2021 was $4,500 per month. Because of the higher level of medical care, nursing homes tend to be more expensive than assisted living. A private room in a nursing home averages $9,034 per month, and a shared room $7,908 per month.

Individuals can pay for assisted living or nursing home fees out of pocket or through long-term care insurance. Medicare does not cover assisted living or nursing home fees.

Medicaid coverage, however, does extend to nursing home fees. Though Medicaid does not pay for room and board at assisted living facilities, it includes the skilled nursing care and emergency response services that residents of assisted living facilities receive.

Additional Resources

Before selecting an assisted living facility or nursing home, research the community and ensure it is a good fit.

Find and compare nursing homes with Care Compare.

SeniorLiving.Org’s guide explains how to find an assisted living facility.

Learn more about the difference between skilled nursing facilities and nursing homes.