As parents age, it becomes increasingly important for their adult children to observe their well-being with care. Their capacity to make sound financial, legal and personal decisions may decline over time due to various physical or cognitive health issues. Recognizing...
You may already understand the importance of having a power of attorney (POA). It is invaluable to have a person you trust to make decisions on your behalf if you become incapacitated. But if one is good, is two better? The pros and cons A POA is a legal document that...
Personal representatives of estates play a crucial role during probate. Their duties include managing the estate assets, paying outstanding debts and taxes and distributing assets according to the deceased’s will or state law. Given the significant responsibilities...
For decades, living wills helped give people control in the event of a medical emergency. People engaged in estate planning could choose to draft a living will as a way of determining what medical care they receive in an emergency. Many people only ever sit down to...
Many people believe that estate planning is something that only the elderly or those with serious illnesses need to worry about. However, if you are 18 and over and earning a good income, it just makes sense to prepare for your future by creating an estate plan....
It’s often uncomfortable for older generations to talk about wealth and inheritance. Unfortunately, even people who take time to establish an estate plan may fail to prepare their beneficiaries for what will happen when they pass on due to this discomfort. This leaves...
Estate planning may start with the division of assets, but that’s not all that it can do. Your estate plan can also be set up to plan for your medical future. This is often very important to consider for those who are making an estate plan as they age, when certain...
Dealing with the administration of someone’s estate can be a pretty complicated job, and it’s often time-consuming and emotionally taxing. It’s not unreasonable (or even unusual) for an estate’s personal representative to receive compensation for their services. If...
No one ever wants to believe someone took advantage of or unduly influenced a loved one during their final days. Unfortunately, it happens more than you may think, and most families never know what happened until their relative dies. Undue influence occurs when...
When families think about the best response to someone's diagnosis of Alzheimer's disease or another condition that causes dementia, the priority is often seeking out ways to meet the patient’s immediate medical needs. For example, having safe housing and...
