“Thought for the Day” #1327 – by Stephen R. Elville, J.D., LL.M.

January 14, 2020

Estate and elder law planning can be time-sensitive. Experience shows that there are several life events that trigger the need or desire to do planning. One of those events is health. The problem with this event is that by the time it arises and the need for planning is recognized, precious time may have been lost. The key to good planning is to of course be ahead of the health curve by planning and updating early and often. But another planning maxim is this – when advance planning is not possible and a health event is ongoing, planning should be initiated, accelerated, and completed as soon as possible. While this may appear self-evident, it is not always so. The experienced estate planning or elder law attorney, and experienced members of the advisory team (CPA and financial advisor) know that many times there is simply not as much time to plan as our human nature may influence us to believe, and can/should work together collaboratively with family members to expedite all aspects of the planning process. #elvilleeducation