Category: Power of Attorney / POA
Adult children worry about their parent’s finances, but whether they are worried for the right reasons is sometimes hard to determine. Are they concerned about a spendthrift parent becoming their responsibility, or that a scam artist will defraud an elderly parent? Seniors who are eager for companionship are perceived as vulnerable. Families worry about the […]
Naming the right person as the executor of your estate is one of the hardest and most important decisions. Knowing what to do if you’ve been named an executor can feel overwhelming. Being named an executor is an honor – it means that someone trusted your judgment and your ability to handle complex tasks on […]
When their daughter had a breakdown while attending college, there was nothing that Keisha Sacher’s parents could do when she refused to come home. At age 19, she was an adult. They had no legal control over her. When she finally did return to their home, the family endured a nightmare of her drug addiction, […]
Having an adult child added as an owner of bank account is a fairly common occurrence that allows both elderly parent and child to have access to the account if the parent needs assistance in managing their money. But most people don’t know that by titling an account differently, the account can still be accessible […]
The details are still unknown, but family limited partnerships and family limited liability companies are being scrutinized by the IRS and the US Treasury and changes are coming. The IRS is looking to close a loophole that has worked very well for many years for wealthy families. The IRS is about to get tough on […]
Managing and growing wealth requires a deep bench of skilled and trusted advisors. Among millionaire investors, a third are comfortable with having two advisors, while 36 percent prefer to work with three advisors. Interesting that those prefer two advisors are mostly Baby Boomers, while half of those who prefer the trusted trio are Gen X-ers, […]
Young children are often the driving force for parents to come to see an estate planner and set up a trust. The concern that the worst possible situation may occur and the children will be raised without their parents is unfortunately something that must be considered. When parents do not plan ahead for their minor […]
It’s so easy to put off estate planning, when lives are busy and there are more inviting things to think about than death and taxes. Perhaps the most common mistake is thinking that estate planning is a do-it-yourself project. Only if you want your loved ones to inherit a mess! The biggest problem that results […]
Helping a loved one when they are not able to care for themselves, whether because they are ill or frail due to advancing age, is a challenging task. Oftentimes an adult child is tasked with communicating with doctors, managing a parent’s healthcare and their finances as well. It is a difficult task, but there are […]
The tragic and untimely death of Whitney Houston’s daughter Bobbi Kristina Brown holds a number of lessons in estate planning that are applicable for parents and young adults. Because of laws that control information and decisions with regard to medical treatment, it is imperative that anyone over 18 have written advance medical directives in place. […]
