Most people assume that by the time they are grandparents, they will not have too many parenting-like hassles. Your kids are fully grown and self-sufficient. Some may even have their own families. Most likely you are now looking toward retirement and all that comes with it. But, the life of being a grandparent is not always easy and there are plenty of legal issues that can arise during those retirement years.
5 Issues Grandparents May Face
Most of these issues will depend on your overall family dynamic, but they are still worth noting. Some of these issues can be resolved with the assistance of an elder law attorney or estate planning attorney, while others may just require a conversation with family members. These legal issues can include:
- Holiday visitation rights. Some parental relationships will end in divorce, but where does that leave maternal or paternal grandparents? Some grandparents may wonder if they too are entitled to holiday visitation with their grandchildren. Unfortunately, this is dependent on the court’s rulings as well as the child’s custody paperwork.
- Grandparents could pay child support. Grandparents do want to be cautious about any visitation rights they attempt to exercise or any custody battles they enter. That is because in some scenarios, a grandparent could actually be required to pay child support.
- Scam artists that target elderly people. Unfortunately, there are those out there that look to take advantage of older generations that are unaware of their rights or sometimes without all of their faculties. These scam artists will specifically target the elderly with health care scams, investment opportunities or even retirement income options – especially if they know you are desperate for an income.
- Leaving assets to grandchildren. There are times that grandparents may want to leave assets to their grandchildren instead of their own children. There are state issues as well as IRS provisions and trusts that make it easier for grandparents to do just that. If you wish to leave money or assets to your grandchildren, whether for school or another reason, you will want to speak with an estate planning attorney to setup the proper type of trust.
- The issue of the living will. Many grandparents avoid the conversation about what will happen if they die or become incapacitated, but it is a conversation people must have with their loved ones. A living will is a tool that you can use to ensure that your wishes are honored – and to make sure that family members are not forced to make difficult decisions on your behalf.
Do You Have Concerns as a Grandparent? Contact an Estate Planning Attorney for Help
Whether you have concerns about your Medicaid, health care costs or how you will handle giving assets to your children and grandchildren, an estate planning attorney can help. The Law Offices of Andrew M. Lamkin is here to help you draft necessary documents to protect your estate as well as your loved ones. You can schedule a free consultation to discuss your issues today at 516-605-0625 or fill out an online contact form with your legal questions.