It can be heart wrenching to decide if a family member or friend you love can no longer safely live in their own home. It can be scary for that loved one to think about his or her care needs and possible new living environments. If you have concerns about a loved one , consider the following questions when determining care needs. If you need help, consult with an experienced and qualified estate and elder care attorney. Does your loved one have medical needs that require special … [Read more...] about Deciding if Some You Love Needs a Care Facility
BLOG
Why Does My Trust Have a Name?
Your trust has a name and a birthday. Both are used to identify your trust for purposes of funding assets into the trust; financial institutions and trustees need to know how assets are owned because trustees only have authority over assets actually titled in the name of the trust. A trust’s title will look something like this: John Smith and Mary Smith, Trustees of the Smith Family Living Trust, dated July 1, 2019. Your trust’s birthday is the day you signed the trust papers. It … [Read more...] about Why Does My Trust Have a Name?
What Is an Aid in Dying Law?
Aid in dying laws, also referred to as physician-assisted dying or death with dignity laws, are very controversial in the United States as well as in other countries that have them. Those who support these laws typically do so because they believe that someone with a terminal illness should have the right to choose how and when they die. Those opposed to aid in dying laws often do so for ideological, moral, or religious reasons. Regardless of where you stand on the issue, if you are a California … [Read more...] about What Is an Aid in Dying Law?
How to Choose Trustees, Guardians and Agents
Part of the task of estate planning or updating an estate plan is to select trusted persons or entities to fill the positions of trustees, guardians, power of attorney agents, health care agents and executors. In order to make good decisions, you need to know the ideal characteristics of each role. Trustee of trust for minors. The trustee of the trust for your minor children or grandchildren will likely be the same as your settlement trustee. If you have the children joining as a … [Read more...] about How to Choose Trustees, Guardians and Agents
I’m Married; Why Would I Need a Power of Attorney?
Often, married couples sign each other’s names to checks, documents, and birthday cards. According to the old joke, “If he actually signed his name, the bank wouldn’t recognize it.” However, except for the birthday card forging, signing your spouse’s name is illegal. This means, even if you’re married, you need a power of attorney to authorize you and your spouse to sign each other’s names. A power of attorney is a legal document through which you authorize an agent (e.g., your spouse) to … [Read more...] about I’m Married; Why Would I Need a Power of Attorney?
Plan for an Unexpected Disability
While most people hate to think about illness, disability and death, it is a part of life. When you are least expecting it, you or a loved on can become seriously ill. It is best to plan for these scenarios ahead of time. Consider the following: Who will take care of me when I become seriously ill? How will I be able to take care of my finances and pay my bills? Who will care for my children? Will I be able to afford an illness? Do I want to be on life support? Who will … [Read more...] about Plan for an Unexpected Disability
Using Professionals in Your Estate and Elder Care Planning
While handling all of your estate planning and future planning needs, it’s important to work with qualified, experienced professionals. This can allow you to get expert advice and can also ensure that all of your needs are met. If you’re unsure of how professionals can help you with your planning, take a look at the following information. Estate and Elder Care Planning Attorney Have you not yet hired an estate and elder care planning attorney? Now is the time to do so! A qualified, … [Read more...] about Using Professionals in Your Estate and Elder Care Planning
Studies Indicate that Health Workers Fail to Report Suspected Elder Abuse
As the older population in the United States continues to grow at an unprecedented rate, issues that directly impact the elderly have taken center stage. Sadly, one of those issues is elder abuse. Despite efforts aimed at preventing elder abuse and at prosecuting those who prey on the elderly, elder abuse appears to be a growing problem. One reason for that is the simple fact that the majority of victims do not report the abuse. Reporting requirements, similar to those that apply to suspected … [Read more...] about Studies Indicate that Health Workers Fail to Report Suspected Elder Abuse
Is an Inherited IRA Taxable to the Beneficiary?
The popularity of self-funded retirement accounts, such as a 401(k) or an individual retirement account (IRA), has increased dramatically over the last several decades as more and more companies do away with employer-sponsored retirement and pension plans. Given how common it now is for an IRA to be part of a retirement plan, inheriting an IRA has also become fairly common. If you recently learned that you are the beneficiary of an IRA, or you are contemplating the wisdom of including an IRA in … [Read more...] about Is an Inherited IRA Taxable to the Beneficiary?
How Does a Veteran Qualify for Aid and Attendance?
If you are a veteran, or a surviving spouse of one, you are entitled to a number of important benefits from the United States government. One benefits program that you may not know about is the Veterans Aid and Attendance program (VA&A). The VA&A program is intended to provide additional monetary assistance, above and beyond that provided by other VA programs such as the VA pension program. The additional assistance is intended to help cover the cost of someone to help you with daily … [Read more...] about How Does a Veteran Qualify for Aid and Attendance?
