You should have an incapacity plan. This is very important. The Centers for Disease Control and Prevention reports that one in four U.S. adults has some type of disabling condition. These conditions can develop at any point in your life. As many as 13.9% of them affect cognition, which means they can leave you mentally impaired. This could mean you’re unable to make your own decisions or manage your own affairs. If you develop a serious physical mental condition, you may not be able to express … [Read more...] about 3 Tools That You Should Consider Including In Your Incapacity Plan
Incapacity Planning
Key Reasons You Should Make an Incapacity Plan Today
Incapacity planning is not necessarily something that everyone thinks about very often -- especially young people who are in pretty good health. However, despite the fact that considering these issues might not be very pleasant, it is something that you need to think about. In fact, it is something that you should do as soon as possible if you don't already have an incapacity plan in place. Our firm can provide you with help putting a comprehensive incapacity plan in place. Give us a call at … [Read more...] about Key Reasons You Should Make an Incapacity Plan Today
Important Questions Related to Incapacity Planning
Incapacity planning is challenging on many fronts, as you have to come face to face with the idea that you may one day not be able to make your own decisions. And remember this: incapacity can strike at any time. This holds true even if you’re young and healthy. If you’ve yet to consider the ins and outs of incapacity planning, now’s the time to do so. It’s a big addition to your estate plan, as it’ll give both you and your loved one's peace of mind. As you get started with … [Read more...] about Important Questions Related to Incapacity Planning
New Year Resolution: Review Your Estate Plan (part 1 of 2)
With the New Year upon, consider as one of your resolutions creating or updating your estate plan. What is often not appreciated are the number of issues that should be considered and addressed in one's estate plan. It’s important to take time to handle these issues so that you’re protected throughout your lifetime as well as after you die. Many people don’t take the time to fully think about their individual estate planning needs. Take a look at the information below to better understand … [Read more...] about New Year Resolution: Review Your Estate Plan (part 1 of 2)
Attorneys at Law and Powers of Attorney – 3 Questions
Question 1: What is the difference between an attorney at law and a power of attorney? An attorney at law is a person who is legally allowed to practice law, while a power of attorney is a legal document that any competent adult can create. Through a power of attorney you can select someone else, commonly referred to as an agent or attorney in fact, to have the legal authority to act on your behalf in a variety of capacities. If you hire an attorney at law, this person can represent your … [Read more...] about Attorneys at Law and Powers of Attorney – 3 Questions
Helping Your Parents with Their Estate Planning
As your parents continue to age, their estate plan needs to be updated. If you’re unsure whether your parents have done their estate planning, including long term care planning, it’s okay to chat with them. While this can be difficult to do, these are important conversations to have. Take a look at the following information, for advice on what topics to discuss. If you have any questions, or if you’d like to assist your parents with their estate planning, contact an experienced and … [Read more...] about Helping Your Parents with Their Estate Planning
Special Needs Planning; Some Considerations
If you are the parent of a child with special needs, planning for his or her future without parents is a more critical matter than the issue would be for a parent of a child who is not disabled. The concerns are twofold: who will your care for child if you become incapacitated and what happens to the child at your death? Some of the questions you need to consider when you begin the planning process are: Whom would you trust as guardian for your child if you were unable to care for them … [Read more...] about Special Needs Planning; Some Considerations
Planning for Loved Ones with Disabilities
Families who have a family member with a disability must plan for the future very carefully. How assets are left after your death can have a tremendous impact on the quality of life for that person. In the past, a Will may have been enough, but times have changed. To protect a person with special needs, a well-defined estate plan is vital. How A Special Needs Trust Works A Special Needs Trust allows a parent, grandparent, family member or guardian to provide funds for a disabled child without … [Read more...] about Planning for Loved Ones with Disabilities
Confronting Medi-Cal Myths
When it comes to Medi-Cal planning, there’s a lot of misinformation that circulates. Here are a few common myths we have heard: Medicare will cover my nursing home expenses, so I don’t need to worry about Medi-Cal. This is not true – - Medicare only covers very few, limited long term care expenses. So, unless you have long-term care insurance or can afford to pay for your care out-of-pocket, you’ll need to find out about Medi-Cal and other public benefits. In order to qualify for … [Read more...] about Confronting Medi-Cal Myths
Special Needs Children and Social Security Benefits
Most families with children of special needs rely on Supplemental Security Income (SSI) benefits administered by the Social Security Administration to some extent to provide for the children after the parents pass away. For some families, this is the only plan that they have. However, proections by some suggest that the Social Security Trust Fund may run out of money. It may be time to make other plans. Parents of children with special needs can create Trust funds for their children that … [Read more...] about Special Needs Children and Social Security Benefits
