When a life insurance policy is no longer wanted or needed, many policy owners either abandon their policy by not paying the required premium or surrender it back to the carrier. In either situation, the insurance carrier wins, and the policy owner is stuck holding the empty bag.
If the durable power of attorney can’t be transferred, what needs to be done to establish a new durable power of attorney for my aunt despite her mental incapacity?
Here’s a closer look at what per stirpes vs. per capita means.
When an individual cannot make important decisions for himself or herself, a judge appoints someone called the conservator or guardian to make decisions. The conservator has the legal backing of the court in all decisions, including finances, medical and personal care.
As family caregivers, we play many roles: scheduler, money manager, house cleaner, health aide, nurse, navigator, nurturer and more. Perhaps the most important role, though, is advocate, as we ensure the best life possible for our loved ones when they are vulnerable.
The difference between power of attorney and guardianship is a common question asked by adult children. Both roles share a duty to provide care and oversight of medical care and health.
If you don’t also fund it, unexpected things can happen and some of those things may not reflect the intent to the grantor.
No one wants a nursing home but the longer we live, the higher the chance we may need a nursing home at the end of life.
When a spouse enters a nursing home, the cost of care can be financially devastating. Many families are simply unable to afford long-term care without applying for Medicaid.
After a loved one dies, their affairs need to be set in order. You might find yourself planning a funeral, paying bills and closing accounts. The list of things you need to do after someone dies can seem endless, especially during a time when you are also grieving.
