Long-term care has been on our minds this month at Cramer Law Center because November is National Long-Term Care Awareness Month. To further your awareness, here are the latest long-term care statistics for this year:
One of the most important decisions we ask our clients to make is who they want to take over as successor trustee of their trust after the client’s disability or death. Many of our recommendations for this position are obvious; a trustee must be willing to take on the responsibility, should be a person or institution that the client trusts wholeheartedly, andideally has some relevant experience or knowledge. After (and sometimes despite) hearing this advice, most of our clients want to name family members, usually their spouse or adult children, as their successor trustees.
In the 1999 movie “The Bachelor,” a young man (Chris O’Donnell) frantically proposes to his girlfriend (Renée Zellweger) and a succession of past girlfriends in the days before his 30th birthday. The reason for the man’s urgency is that his grandfather’s will states that he must be married on that date or he will miss out on a multi-million dollar inheritance. If you have seen the movie, you likely thought it was a far-fetched plot; however, it is legally feasible to condition gifts in a will or trust on the marital status, religious observance, or other behavior of the intended recipient.
With the Walk to End Alzheimer’s coming up this weekend and National Long-Term Care Awareness Month starting today, elder law is on our minds. So, this is the perfect time to share an elder law story that illustrates the value, and importance, of consistent planning.