The Sandwich Generation is torn between caretaking responsibilities for their minor children and their elderly parents. But first, they need to make sure they take care of themselves. Read on to learn more. Planning for the Sandwich Generation … [Read more...] about Planning for the Sandwich Generation
powers of attorney
This article examines the deaths of two people who died from doing very typical things. You never know what risks might be around the corner, even in seemingly safe endeavors, so you should be prepared. The article looks at the elements of a basic plan. You Never Know: Planning for the Unexpected … [Read more...] about You Never Know: Planning for the Unexpected
Nobody wants incapacity, not for yourself and not for your loved ones. But planning for that possibility can avoid complications and increase options. The article discusses the elements of incapacity planning and the need for flexibility to do Medicaid planning. It discusses how a trust with Medicaid triggers can allow that. Incapacity Planning … [Read more...] about Incapacity Planning
This article examines the death of Charlotte Fox, one of the most famous mount climbers ever, who fell down her stairs at home. You never know what risks might be around the corner, so you should be prepared. The article looks at the elements of a basic plan. Planning for the Unexpected … [Read more...] about Planning for the Unexpected
A power of attorney is a legally binding device that is used to appoint someone else to act on your behalf. When you grant a power of attorney you are called the principal or grantor. The individual that you choose to act on your behalf is called the agent or attorney-in-fact. When you create a power of attorney, it is typically going to go into effect right away unless you stipulate otherwise. Durable Power of Attorney In the field of estate planning, durable powers of attorney are utilized … [Read more...] about When Does a Power of Attorney Become Effective?
When you are planning ahead for the future you have to consider the eventualities of aging. As a senior citizen you may become unable to handle all of your own affairs. You can name someone to act on your behalf in the event of your incapacitation by executing a certain type of power of attorney called a durable power of attorney. Durable powers of attorney remain in effect even if you become incapacitated. The Anatomy of a Durable Power of Attorney A durable power of attorney essentially … [Read more...] about Who Can Act as an Agent Under a Power of Attorney?
Incapacity planning is an important part of your overall strategy for aging. If you look at it logically, for the most part people do not suddenly pass away without going through a period of ill health. This can often involve losing the ability to make sound personal, medical, and financial decisions. What are the alternatives for managing property when a person becomes incapacitated? In a general sense, you have two options. You can do nothing and allow the state of Connecticut to decide who … [Read more...] about What Are the Alternatives for Managing Property When a Person Becomes Incapacitated?
Comprehensive planning is the key to being prepared for any and all eventualities as you enter different phases of your life. Just keeping your fingers crossed with your head stuck in the sand is clearly not a very intelligent course of action, but unfortunately far too many people go this route. The average lifespan in the United States is around 78 years, and in fact the segment of the population that is 85 years of age and up is the fastest-growing group among us. So the reality is that … [Read more...] about Have You Considered Possible Incapacity?
You may not be aware of just how likely it is that you will experience a period of incapacitation at some point in time. According to the Alzheimer's Association 13% of senior citizens as a group are suffering from Alzheimer's disease. This is a considerable number of people to be sure. However, this number swells to approximately 40% among those who are at least 85 years of age. People who suffer from Alzheimer's disease often contract dementia and this can make it impossible for them to make … [Read more...] about Selecting Attorneys-In-Fact
Estate planning is often viewed as a purely financial endeavor. However, there is a health care component as well if you want to be comprehensively prepared for all of the eventualities of aging. It would be ideal if we all passed on without ever having to experience any gradual decline, but unfortunately it doesn't always work that way. People are living longer than ever, and one of the most surprising demographic trends of our time is the fact that senior citizens are the fastest growing … [Read more...] about Incapacity Planning & Your Loved Ones