A Power of Attorney is generally considered an essential part of any estate plan, because of how important it is to protect your interests while you are still alive. Without one, you may find yourself in a legally tenuous situation that can cause endless grief for both you and your loved ones. Here are five reasons you should make sure to get a Power of Attorney as part of your estate plan:
Tag: elder law
When is the Right Time to Consider a Guardianship For a Loved One?
The appointment of a Guardian plays an important role in ensuring that people who cannot care for themselves, will have someone appointed to manage their personal and financial needs. When is the right time to seek guardianship for your loved one? Here are some of the primary reasons that people will apply for guardianship for someone they care about:
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Are Your Advance Directives Up to Date?
One of the most essential components of any estate plan is advance directives. These documents can help protect a person’s interests in the event that they become unable to manage their own affairs. However, advance directives are not documents you can simply create and forget about. If they are not up to date, you could face significant legal issues later on. Continue reading “Are Your Advance Directives Up to Date?”
When Should You Consider a Living Trust?
A living trust, also known as an inter vivos trust, is not the most well-known estate planning tool available. For some people, a living trust can be an essential tool for protecting their wealth and minimizing the potential problems that can arise during the probate process. Here are a few questions you should ask yourself to see if a living trust is right for you: Continue reading “When Should You Consider a Living Trust?”
What is a Medicaid Trust, and How Can it Help Me?
If you are getting older, chances are that you have considered how you will pay for your long-term care needs should you need care in your home or in a facility. Long-term care is very expensive and it becomes more difficult to pay for if you will be relying on your savings or other assets. Medicaid may be a viable solution, but first, you may need to consider placing assets into a Medicaid trust to protect your assets and qualify for Medicaid. Continue reading “What is a Medicaid Trust, and How Can it Help Me?”
Healthcare Proxy vs. Living Will
Advance directives are among the most important steps you can take when protecting yourself in the event of possible incapacity. Among these advance directives, two are particularly relevant during the coronavirus pandemic: the healthcare proxy, and the living will. But what are these advance directives, and how do you know which ones are appropriate for you and your needs? Continue reading “Healthcare Proxy vs. Living Will”
Is a Healthcare Proxy Right for You?
Right now, people are understandably concerned about their health and the health of their loved ones. When a crisis comes, people want to know that they and the people they care about will be taken care of if they are unable to make their own healthcare decisions. It’s for these types of emergencies that you should consider a healthcare proxy. Continue reading “Is a Healthcare Proxy Right for You?”
Lifestyle Guru B. Smith Dies from Early Onset Alzheimer’s Disease
Barbara Elaine Smith, more commonly known as B. Smith, passed away at the age of 70 after an eight-year struggle with Early Onset Alzheimer’s Disease. B. Smith was a renowned lifestyle guru, who, among other things, modeled, owned restaurants, designed decorations and authored several cookbooks. She also wrote a book on her Alzheimer’s Disease, titled Before I Forget, with her husband Dan Gatsby, which was published in 2016. Continue reading “Lifestyle Guru B. Smith Dies from Early Onset Alzheimer’s Disease”
The Perils of a Reverse Mortgage
You may have seen television commercials advertising reverse mortgages, telling you about the financial rewards that can come from taking a reverse mortgage on your home. While it can theoretically result in additional money in your pocket, at least in the short term, it’s important not to mistake it for a financial windfall. You should be aware of the perils of a reverse mortgage before you take one out on your home. Continue reading “The Perils of a Reverse Mortgage”
Five Things to Consider When Planning Your Estate
Estate planning is an important task for anyone advancing in years, especially for anyone with a large amount of property that will need to be allocated after your demise. But what do you need to consider when you’re planning your estate? What can you do to avoid catastrophe when the worst comes to pass? Well, here’s five questions to ask yourself when you’re planning your estate. Continue reading “Five Things to Consider When Planning Your Estate”
