As an elderly family member continues to age, her needs will change. She may need help around the house; and, at some point, may begin need long term care assistance. While many people consider options such as independent living facilities, nursing homes, and assisted living facilities, there are also other options to consider. Depending upon your loved one’s needs, she may be able to take advantage of other opportunities. Take a look at the information below, to better understand some other … [Read more...] about Other Housing Options to Consider When Planning for Long Term Care
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Sick and Old: Boomers Reach Retirement
Even though baby boomers have benefited from growing up during one of the largest industrial expansions in the history of the world, and saw the rise of advanced medical technologies, they are becoming increasingly sick as they reach retirement age. A recent study published in the Journal of the American Medical Association Internal Medicine says that baby boomers, though they’re living longer, are much more prone to chronic diseases such as high blood pressure, diabetes, and high cholesterol … [Read more...] about Sick and Old: Boomers Reach Retirement
When Trusts Protect Against Incapacity
One of the more popular estate planning tools today is the revocable living trust. Even though a lot of people create these trusts to avoid probate, many people don't realize that these devices can also help protect them in the event they become incapacitated. A proper incapacity plan should be a key piece of every comprehensive estate plan. Knowing how your revocable living trust interacts with your incapacity plan is important if you intend to get the most from your estate planning … [Read more...] about When Trusts Protect Against Incapacity
Elder Law Tips
A lot of people do no realize that they the assistance of an elder law attorney until it is too late. Elder law is not a commonly encountered area of the law for many people, and many of those people do not know what it is all about. To help give you a better understanding of what elder law is and how it might play a role in your life, we have developed this brief list of tips. Tip 1. Elder law is a broad topic. Everyone goes through changes as they age. Young people going into the workforce for … [Read more...] about Elder Law Tips
JTWROS And Your Estate Plan
There are some terms you might come across as you develop your estate plan, such as JTWROS, that you should know about before you start making your plan in earnest. A JTWROS, which stands for joint tenancy with the right of survivorship, is a form of property ownership that can offer certain benefits for people interested in avoiding probate. However, this form of property ownership also has some significant negatives that you will need to consider. Always talk to your attorney whenever you have … [Read more...] about JTWROS And Your Estate Plan
Divorce and Estate Planning – 3 Issues
Divorces are hard, and the process can easily overwhelm anyone getting divorced. But it’s important to remember during this difficult time that you will definitely need to speak to your estate planning lawyer about how you will need to change your plan after you finalize your divorce. Just as with any other significant change in your life, you will need to revise your estate plan soon after you get divorced. You created a plan that matched to your needs as a married person, and now that you are … [Read more...] about Divorce and Estate Planning – 3 Issues
Simple Estate Litigation Prevention Measures
Estate litigation is something every estate plan should try to prevent whenever possible. Litigation can deplete your estate of money, lead to unnecessary delays in transferring inheritances, and involve disagreements that destroy relationships between family members. An estate plan that keeps the possibility of estate litigation in mind, and one that does everything it can to reduce the risk of such conflicts from arising, is something you should consider on as you go through the planning … [Read more...] about Simple Estate Litigation Prevention Measures
Should You Have a Durable Power of Attorney? 3 Questions
Question 1. What is a durable power of attorney? A durable power of attorney is a document that allows capable adults the ability to choose a representative who will have the legal authority to make decisions on their behalf. Through your durable power of attorney you appoint an agent, also known as an attorney-in-fact, who receives this decision-making authority. The agent can make legally binding agreements as if you were making them yourself. The durable power of attorney can be as limited … [Read more...] about Should You Have a Durable Power of Attorney? 3 Questions
Why Understanding Brain Death is Important For Incapacity Planning
The recent story of Oakland area teenager Jahi McMath, as well as the story of Marlise Munoz, has once again focused media attention on the concept of brain death. When it comes to creating an estate plan, and especially an incapacity plan, brain death is a key concept. Unfortunately, it is also a concept that not a lot of people understand very well. Few of us have any training in medical terminology and treatment, so taking the time to study terms such as brain death is essential if we want to … [Read more...] about Why Understanding Brain Death is Important For Incapacity Planning
California Trust Questions: What is Decanting?
While you may have heard the term used in discussions about wine, the word “decanting” has very specific legal meaning when you’re dealing with a trust. In the state of Florida there is no specific law that allows trustees to decant trust property and transfer the property to a newly created trust, but it may still be possible to do so. While you will want to speak to an experienced and qualified attorney about the particular details surrounding decanting, here are the basics you need to … [Read more...] about California Trust Questions: What is Decanting?
