Category: Power of Attorney / POA
If you do not have a will the state will provide one for you. And if you are married with young children and both parents die who becomes the children’s guardian will be up to the state’s court system. No will? No problem – the state will provide one for you. But how likely is […]
“So don’t give away your money. There are other things you can do ahead of time. Talk to an elder law attorney to make sure you are maximizing your dollars, that you can still give your kids some kind of inheritance and still go into a skilled nursing home on Medicaid.” A recent article in […]
Good advisors recommend their clients of all ages have powers of attorney (“POAs”) in place. But the biggest and apparently most hotly debated question is whether or not POAs should spring—meaning whether they should be effective immediately upon execution (typically the statutory default) or whether they should become effective only upon a determination that the principal […]
People in their 20s often do not think that they need to worry about estate planning. They plan to live much longer, so they believe there will be time to get an estate plan later. However, you never know when tragedy can strike, so it is important that 20-somethings get estate plans. Younger adults normally […]
Waiting to create an estate plan could result in significant out-of-pocket costs at the end of life. Or even worse, it could result in a person with Alzheimer’s disease being subject to the will of the courts. With the number of individuals suffering from Alzheimer’s skyrocketing, there is no time to wait to get your […]
Are you childfree? Are you planning with an elder parent? Do any of your potential beneficiaries have special needs that must be taken into consideration? Are any of your beneficiaries minors? The first step of planning is to take a moment to consider what makes your situation unique. Although estate planning has many aspects, it’s good to start with the […]
“This is about protecting the state’s most vulnerable people,” Pelanda said. “We want to hold those in charge of others responsible and ensure they know what’s expected of them.” Ohio is taking action against a developing problem: guardianship abuse. Recent media reports have revealed that Ohio has a large problem with some court-appointed guardians who […]
I recently completed my estate plan. I signed a power or attorney but I have no idea why I have it or what I’m supposed to do with it. Do you know what’s really in your estate plan? Do you understand each document that you’ve signed? Maybe it’s time to ask some questions. Unfortunately, when […]
For millions of people over the decades, the power of attorney has been an inexpensive way to give someone the right to act on another person’s behalf. But its power is not always absolute and when it fails, the consequences can be nothing short of disastrous. Maybe your power of attorney isn’t so powerful after […]
If you are about to send a child off to college or to a gap-year program, you’re probably busy with last-minute shopping, packing and worrying about roommates. Here’s one more thing you should do as you prepare for the big separation: Ask this young adult to sign a durable power of attorney and a health […]
