According to a study done by the AARP over 34 million people provide care to ill or disabled adults aged 50 or over, and with the aging baby boomer population (and their aging parents) that number is only likely to grow. This presents a growing problem, because providing care to aging parents or grandparents is an expensive undertaking, and often caregivers are required to cut back on working hours—or sometimes give up careers altogether—to take over the increasing needs of their aging loved one.

Most caregivers think they have only two options: care for their parent at home, or put them into a nursing home. Either one of these choices is not only expensive, but comes with its own set of emotional baggage. But there is another option that few people know of, and even fewer take advantage of; adult day care.

Adult day service centers provide personal care, social activities, therapy and meals during the day while caregivers need to be away at work or even taking a much-needed break. If you have a parent who can no longer care for themselves during the day, but are unwilling to go into a nursing home, adult day services might be a good solution for everybody involved. And if you as caregiver are going to be contributing to the cost, you may be able to receive a tax credit for your contribution.

To find an adult day service center near you, click here.

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August is upon us, the summer is drawing to a close, and the school year is about to begin. For many parents this means it’s time to fill out the beginning of school paperwork again: health, release, and emergency contact forms. Although many parents look upon these forms as a time-consuming necessary evil, they can actually provide a good opportunity to think about guardianship. Of all the people in your life, who would you trust to care for your kids when you are gone?

Although naming a guardian for your minor children is one of the most important estate planning tasks out there, it is also one of the most difficult and emotional. Just letting your mind brush up against your own mortality and the thought that your young children may have to face the world without you is enough to bring tears to the eyes of any parent. So it’s no wonder parents shy away from the heart wrenching task. But if the idea of your kids growing up without you is a difficult thought, try to imagine them growing up in the hands of a court-appointed guardian rather than your own friends or family—that is the frightening thought that could become reality if you don’t name a guardian yourself.

If you are reluctant to think about guardianship at this time, this article in The Wall Street Journal may provide some encouragement. But the most important thing to remember is that you don’t have to do it alone. Your estate planning attorney is there to help you through the process. At our office we understand how difficult choosing a guardian can be, and our goal is to guide you through it with compassion and understanding. The nomination of guardian is the one document you hope never has to be used—but that you absolutely don’t want to be without.

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Dealing with the death of a family member—especially when that family member is a parent—can be fraught with confusion and emotion even under the best of circumstances. Being named as the executor of the deceased’s estate (although often considered an honor) means that you have to have a clearer head and more patience than everyone else during an already difficult time.

If you have been named as the executor of the estate it means that most likely a will has been found. (If the deceased did not have a will then an executor will have to be appointed by the court, but it does not mean that probate can be avoided.) Once you have been appointed the executor you are considered the responsible party during the probate process and can be held accountable by the beneficiaries. As the executor, the following is a partial list of your responsibilities:

• Reviewing the estate assets.
• Creating an accounting of the deceased’s assets and liabilities.
• Giving notice to potential creditors.
• Settling outstanding debts.
• Making distributions for estate taxes.
• Making distributions to heirs.
• Filing a final accounting with the court to close the probate process.

In addition to the above responsibilities, it will be your responsibility to keep the estate viable (making sure the mortgage and fees continue to be paid) during the probate process. Probate can often be a lengthy process, so you may petition the court to release short-term supply funds for this purpose while proceedings continue.

If you are thinking that this sounds like no easy job you’re absolutely right! Executors are entitled to compensation from the deceased’s estate, although some executors from the immediate family choose not to accept compensation. You should also remember that being executor does not mean you are personally responsible for the debts of the deceased. All debts, taxes, legal fees, etc. should be paid from the estate of the deceased, not your own pocket.

If this all seems overwhelming, there is good news: You don’t have to go through all of this by yourself. The court can appoint someone to oversee the process (although these appointees often oversee a number of probate cases at a time and may be very busy) or you can find an attorney experienced in the probate process. If you find yourself in this situation, feeling confused and overwhelmed, please call our office. We understand, and we can help.

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