One of the reasons why you should work with an estate planning attorney to devise your plan is because there are things to consider that many laypeople would overlook. In this post, we will look at three of the details that should be attended to when you are planning your estate. Letter of Last Instructions If you are an employer, you are not going to hire someone, give them a title, and turn them loose with no instructions. They would have a general idea of what they are supposed to … [Read more...] about Three Commonly Overlooked Estate Plan Details
If you were to have an informal conversation with an estate planning lawyer, you would learn a lot in a short period of time. With this in mind, we are going to share a hypothetical conversation between a curious layperson and an estate planning attorney. When should you start to think about developing an estate plan? A lot of people think you can wait until you are a senior citizen for a couple of different reasons. One of them is the simple fact that they don’t like to think about their … [Read more...] about A Conversation With an Estate Planning Lawyer
We were told all along that the colder weather would usher in a resurgence of the novel coronavirus, and we have reached that point. Estate planning attorneys always emphasize the fact that anything can happen at any time under ordinary circumstances. People understand this, but far too many of them embrace the “this will never happen to me” mantra. The pandemic has painted a very stark picture that is unavoidable. You can be perfectly healthy on one day and find yourself in the intensive … [Read more...] about Pandemic Shows Importance of Advance Planning
COVID-19 has had an enormous impact on all of our lives, and it has given us a lot to think about. One of the lessons learned is the fact that unexpected circumstances can arise at any time, even some things that are absolutely unprecedented. Even though death is one of the inevitable facts of life, statistics show that the majority of American adults do not have estate plans in place. The most recent study that has been conducted indicates that less than half of people that are 55 years of … [Read more...] about Coronavirus Underscores the Importance of Planning
It is said that “experience is something that you get just after you need it.” There is a lot of truth in this statement, and that’s the way life is in many ways. You cannot fully understand something until you have experienced it, and it is not always easy to learn these lessons. This certainly enters the picture when it comes to planning ahead for the eventualities of aging. When you have been perfectly capable of handling all of your own affairs throughout your life, it can be hard to … [Read more...] about Incapacity Planning: Choose Representatives in Advance
Imagine a scenario where you were told by doctors that a relative was in a terminal condition and unable to communicate. This individual is being kept alive via the use of artificial life support systems. The medical professionals are asking you if they should continue keeping this relative alive or remove the life support and let nature take its course. There are other family members in the room with you. Some of them are certain that the best choice is to allow things to proceed naturally. … [Read more...] about Take Action To Assert Health Care Choices
Arranging for the transfer of your assets in writing is one thing, but it is not the only thing to consider. Human beings are going to have to make sure that your wishes are carried out, and you may need trusted family members or friends to make decisions in your behalf should you become incapacitated. If you use a last will to state your final wishes the person who will do the legwork is the executor or personal representative. The administration of the estate is going to be supervised by the … [Read more...] about Have You Appointed Decision Makers?
When you think about the topic of estate planning the matter of arranging for future asset transfers after your passing may immediately come to mind. Unquestionably this is at the core of estate planning, but to be totally prepared for the eventualities of aging there are some other very important things to take into consideration. It is quite possible that you will go through a period of incapacity before passing away. The level of your incapacitation can vary considerably, but there may well … [Read more...] about Include HIPAA Authorization With Advance Directives
Estate planning is usually thought of as being within the realm of financial planning. This is true on one level, but it also connects to elder law. You want to know all the facts and make preparations for the eventualities of aging. As a result, a comprehensive estate plan would include an incapacity planning component. Incapacity Planning As we all know, people can pass away under varying different circumstances. However, in most cases there will be a period of decline. The average life span … [Read more...] about Should I Have a Durable Power of Attorney for Health Care?
The process of estate planning should extend beyond the distribution of financial assets. Before you expire there may be an interim during which you are incapacitated. You may be unable to make and communicate your own decisions at that time. Is this a pleasant proposition to consider? Of course not, but it is a stark reality. Burying your head in the sand while you hope for the best is really not a very responsible approach. Incapacity planning is part of the equation when you want to become … [Read more...] about Incapacity Planning in Connecticut: What Is a Living Will?