Estate planning for senior citizens: While a large number of people create estate plans at a younger age, many people put off the process until they are older. Waiting until you are in poor health is not the best idea for many reasons, but we find ourselves in hospital rooms far too often trying to communicate with very ill people about their estate planning. We also find that when older folks look at estate planning, they look at it as giving up; somehow, making a Will means that you are ready to die. We regularly find ourselves explaining to folks that it is just good planning, like any other planning-type activity (e.g. pest control, sealing your deck, getting oil changes, etc.), and not a sign that you have given up the fight of whatever debilitating illness from which you might be suffering.
You should have all of the following in an accessible but safe location for your loved ones to find:
Will
Trust documents
Power of Attorney
Medical documents, like Health Care Power of Attorney and Living Will
Information about assets (life insurance policies, bank account numbers, etc.)
