Here’s a long-lasting Mother’s Day gift
Mother’s Day has almost arrived, so you may want to give Mom flowers or candy. But is there a gift that can make a longer-term difference in her life? Actually, there is – the gift of knowledge for her financial future. To be specific, you may be able to help your mother in two key areas: long-term care and estate planning. You don’t need any expertise in either of these topics. But you can let your mother know that the cost of long-term care, such as a stay in a nursing home, can be significant – and could impact her financial independence. And without a comprehensive estate plan, she might not be able to leave the type of inheritance she had envisioned. So you can help your mother by steering her toward a financial professional, who can suggest long-term care solutions, and a legal professional, who can help with her estate planning. Offering this support can help keep Mom in a good place in life – and that’s a pretty valuable gift.