Element 1: Health care power of attorney. A California Advance Health Care Directive (AHCD), which is the California version of a document also known as a health care power of attorney, will let you choose someone who can be responsible for making medical decisions on your behalf should you ever become unconscious or otherwise incapacitated. While you can choose whomever you wish, that person should always be a capable adult who can be easily reached by your health care providers in case of an … [Read more...] about California Advance Health Care Directive – 5 Important Elements
While much of the advice and popular material available on estate planning is aimed at married couples or those who have reached retirement age and beyond, that doesn't mean that unmarried persons of every age don't need estate plans of their own. In fact, there are some situations in which a single person has a greater need for a good estate plan. If you are single and haven't begun the estate planning process, here are a couple of tips to help you get started on the path. Step 1: Develop a … [Read more...] about Estate Planning for Unmarried Persons
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 while … [Read more...] about Special Needs Planning; Some Considerations
As we age, the cost of medical care almost universally increases. Even in good health, we simply need more care as a rule. If our health is not good, medical care can cost a small fortune. If you, or a loved one, requires nursing home care, the monthly cost can easily exceed $7,000. This often leaves people between the proverbial rock and a hard place. If you have a multi-million dollar estate then you may be able to pay for costs such as this out of pocket. If you are living below the poverty … [Read more...] about Medi-Cal Planning — Start Now
If you’re like most people, you’ve heard the term, “living will,” but have some questions about it. What is a living will? Why do I need one? Is it the same as a will? What’s it all matter anyway? In general, the term "living will" refers to a document in which a person can set forth his or her wishes relating to future medical care, in particular, end-of-life care. It is different than a Last Will and Testament wherein you set forth your instructions for your estate following your death. … [Read more...] about What’s a Living Will?
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 Power of Attorney — Things You Should Know
If you become incapacitated at any point in your life, who will manage your finances? You may think that you know the answer to that questions, but from a legal perspective you may not. Incapacity can happen slowly as part of the natural aging process or can happen in a moment as the result of the tragic accident. Regardless of how you become incapacitated, someone will have to manage your finances. If you are married at the time you become incapacitated, your spouse may have access to some of … [Read more...] about Who Will Manage Your Finances If You Become Incapacitated?