The elderly are constant targets of electronic theft. Although all of us are potential targets, the elderly are especially vulnerable because they may have less experience with computers and electronic technology. Adults age 60 and older may not have as much technical experience as younger generations. Furthermore, as we age, we become subject to memory loss, which may cause us to believe we recognize email addresses or senders’ names. However, this makes them more likely to open phishing emails … [Read more...] about Protecting An Elderly Person’s Privacy On the Internet
Choosing an Estate Planning Attorney
Creating a comprehensive estate plan is one of the most important things you will do during your lifetime. When done properly, your estate plan will ensure that your loved ones are well provided for in the event of your untimely death as well as distribute your assets pursuant to your wishes. If not executed properly, it can wreak havoc with your finances and fail to provide the protection for your loved ones that it was intended to do. Given the importance of your estate plan, the first step in … [Read more...] about Choosing an Estate Planning Attorney
Basics of Powers of Attorney
A power of attorney, or POA, is a legal document that has been around in varying forms for centuries. The concept, or purpose, behind a power of attorney is the ability to give another person the legal authority to act on your behalf. The extent and the duration of the authority depends on the type of POA that you execute. Although POAs are widely used by people of all ages, they are particularly popular with the elderly. Unfortunately, they are also widely used by people who want to take … [Read more...] about Basics of Powers of Attorney
What are the Benefits of Estate Planning?
Many people choose to put off estate planning because they feel it is not a necessity until a later time in life. The truth is, everyone needs to have an estate plan in place. This will help to prepare for the unexpected. Below are five key of the benefits of having an estate plan. To commence your planning, schedule a meeting with an experienced and qualified estate planning attorney today. Give you and your family peace of mind. With a plan in place, you and your family members will … [Read more...] about What are the Benefits of Estate Planning?
What Happens To One’s Property After They Die?
When someone dies, they typically leave behind various estate assets. This may include cash, investments, personal property or real property. All of the decedents property must be legally transferred upon his or her death. How the property is handled depends on a number of factors. Property held in joint tenancy with another person will pass by operation of law to the surviving joint tenant when the one of the joint tenant dies. In many cases, property held by husband and wife as community … [Read more...] about What Happens To One’s Property After They Die?
Providing for Your Child with Special Needs
If you are the parent of a child with special needs, you need to address your child’s needs in your estate plan to ensure that he or she is well protected both during your lifetime and after you are gone. Care must be taken, however, to ensure that your child will benefit from the financial assistance you intend to gift to him/her. To help you get started, let's see how you can provide for your special needs child in your estate plan. Why Is a Special Needs Trust Necessary? As the parent, … [Read more...] about Providing for Your Child with Special Needs
The Importance of Choosing the Right Fiduciaries
Estate planning is a complex, yet incredibly important, undertaking. One of the most important aspects of estate planning is choosing people for the fiduciary roles within your plan. This is also an area where people frequently make mistakes. Let's explore the importance of choosing the right fiduciaries. What Is a Fiduciary? The law defines a fiduciary as “a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons).” Typically, a … [Read more...] about The Importance of Choosing the Right Fiduciaries
How Can I Protect My Aging Parent?
As an adult child, one of the most difficult things you may go through is watching your parent slowly succumb to the natural aging process and/or to one of the many age-related dementia conditions, such as Alzheimer’s. At some point, you may need to consider become your parent’s conservator. Petitioning for conservatorship, however, often feels as though you are taking away your parent’s independence and autonomy. What you need to focus on, however, is that failing to act could put your parent … [Read more...] about How Can I Protect My Aging Parent?
What is an Assignment and Nominee Agreement?
What’s an “Assignment and Nominee” agreement and what does it do? Prudent attorneys use such an agreement as a belt and suspenders approach to funding. We include this critical planning tool in each trust-based estate plan we create for our clients. See the following discussion of them by my friend and colleague Steve Hartnett, an estate planning expert. Read on to learn more. … [Read more...] about What is an Assignment and Nominee Agreement?
Leaving Assets Can Be Tricky – Part 3 of 3
Leaving assets to your adult children or other beneficiaries may seem simple. But in many situations, it can be quite tricky. For example, if you have a beneficiary with special needs, you must take special care. This last installment of a 3 part series by my friend and colleague Steve Hartnett, an estate planning expert, explores these sometimes thorny issues. Read on to learn more. … [Read more...] about Leaving Assets Can Be Tricky – Part 3 of 3
