What are advance directives and why should everyone have them? Advance directives allow you to plan for the possibility that you may one day be unable to make your own medical and financial decisions. In doing so, there can be confusion about the differences between the various advance directives. Among the most important…
A durable power of attorney is one of the most important estate planning documents you can create, but it is also one that can be misused. While it isn’t possible to entirely prevent the possibility of abuse, there are steps you can take in drafting the document to greatly reduce the chances. A power of…
When our client’s daughter, Natalie entered the emergency room of the hospital, the scene was very intense. Her mother, who lived in a care center had been very ill for months. The paramedics that had brought her in were working CPR, trying to revive her. Natalie’s sisters stood emotionally distressed by the door of the…
According to a March 2017 survey by Caring.com, six out of ten Americans have no will or any other kind of estate planning. Many said they’d get around to it, eventually. When they’re old. (The survey did find that the elderly are much more likely to have some plan in place.) It’s all too clear…
A recent report from the Alzheimer’s Association states that one in nine Americans age 65 or older currently has Alzheimer’s. With the baby boomer generation aging and people living longer, that number is expected to nearly triple by 2050. Alzheimer’s, of course, is just one cause of dementia—mini-strokes (TIAs) are also to blame—so the number of…
Comprehensive estate planning is more than your legacy after death, avoiding probate, and saving on taxes. Good estate planning includes a plan in place to manage your affairs if you become incapacitated during your life and can no longer make decisions for yourself. What happens without an incapacity plan? Without a comprehensive incapacity plan in…
Most financially savvy individuals begin planning their estate when they’re in peak mental shape. The idea that this might change at some point in the distant future is an unpleasant one, and they would rather go about their estate planning as if they’ll be as sharp as a tack late into their golden years. Unfortunately,…
While most proactive individuals know the importance of having a well-rounded estate plan, it is typically considered as something that will take effect after they have passed away. But there are in fact many ways in which comprehensive estate planning can have a positive impact on your life while you are still around to reap…
In my last post to this blog, I explained why it is so important to put in place a durable power of attorney. In this post, I want to emphasize why it is important to get that power of attorney in place before you need it. If you wait until you need it, you’ll be…
The benefits of a highly detailed, comprehensive durable power of attorney are numerous. Unfortunately, many powers of attorney are more general in nature and can actually cause more problems than they solve, especially for seniors. This post highlights the benefits of a comprehensive, detailed durable power of attorney, including some of the provisions that should be…
