Have you addressed elderly parents in your estate plan?
Abstract: Typically, an estate plan includes accommodations for one’s spouse, children, grandchildren and even future generations. But some members of the family can be overlooked, such as parents or in-laws. This article offers a five-step plan for adult children to incorporate their parents’ needs into their own estate plans. A sidebar notes the peril of making gifts without considering the impact they might have on any government benefits due to the recipient.