Including Downsizing in Estate Planning
For individuals suffering from the effects of a chronic illness, climbing stairs or navigating through a large home can be difficult and exhausting. That is why Marty Shenkman, an estate planner whose wife has multiple sclerosis, decided to downsize their belongings and home to make daily life easier. They had to put a lot of time and effort into planning and putting into effect their downsizing strategy, for example moving into a smaller home and organizing their storage neatly so that it could fit in closets without needing a garage or shed for overflow. They were able to fit in a smaller more accessible home by giving away extra items to family or charity, and condensing tangible mementos and keepsakes like photos and diplomas into digital versions.
See Ashlea Ebeling, An 8 Step Real Life Downsizing Plan, Forbes, Sept. 9, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.