Proper Prior Planning Prevents Poor Performance: This concept is not foreign to anyone. In anything that you do, prior planning is the only way to ensure a successful event. Whether it is a picnic or retirement, you need to have the proper items to make the event comfortable and rewarding. Just like a picnic, there are some items that are of more importance than others. There are also items that will only be used at different stages of the event. A picnic needs food, drinks, and entertainment. How you fit those needs has some commonalities and some unique items to yourself. For most individuals, the drink portion of a picnic involves some prepackaged beverage. Whether that beverage is water, wine, pop, or juice, it usually comes in a self contained and sealed container. Similar to the beverage category of a picnic, Elder Law Planning has commonalities and uniqueness. This comes in the form of the documents that need to be prepared and steps that need to be taken to ensure a plan is in place.
As is discussed before, there are multiple stages of planning that is needed. I categorize the stages into three parts. The first part is the Preparing Stage. The second part is the Utilization Stage. The final part is the Assistance Stage. The Preparing Stage is similar to packing the picnic basket. You gather all of the supplies you believe that you will need for the picnic. If you do not have all of the materials, you purchase the required items from the store so that your basket is complete. In Elder Law, This is when you purchase the Estate Planning Documents such as a Will or Trust and fund the proper vehicles to fill your basket. The Utilization Stage is the picnic itself. This is when you enjoy the items in your basket. This stage is when you enjoy the fruits of your planning and reap the benefits that your foresight provided. The Assistance Stage is similar to the period after the picnic. This is when you pack up the leftover food and clean up your picnic site. All three stages will have to be done, with or without planning. How painful the completion of these stages are, will be determined by planning. Additionally, if you plan ahead you will have a lower overall cost of the picnic. The proper planning for your senior years is like the proper planning for a zoo picnic. If you bring a sandwich to the zoo that you made at home, it will cost much less than if you wait and purchase a sandwich from the zoo food court.
For more information on Elder Law call:
Law Office of Jonathan W. Cole
5013 W. 95th St.
Oak Lawn, IL 60453
708-529-7794
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