These days it’s easy to feel overwhelmed by many things such as politics, gas prices, the gyrating stock market, summer travel, heatwaves and your health. One thing that shouldn’t overwhelm you is estate planning.
All couples can now take advantage of tax benefits for married partners, pass assets from one spouse to another with ease and qualify for Social Security spousal and survivor benefits. However, not all couples want to get married.
A common dilemma that families face upon the incapacity or death of a loved one is locating estate planning documents. While preparing the documents are the most important step, that is irrelevant if the documents are lost when they most need to be used.
Your elderly mother is getting forgetful and confused. What do you do now?
Even those who have saved and invested well may not be sharing their financial information with a spouse or loved one. It’s time to do that now.
Picture this…your child is in the hospital, but the on-call doctor won’t talk to you let alone allow you to weigh in on medical decisions. While hospitalized, your child’s bills are going unpaid because you can’t access their accounts—potentially wreaking havoc on their financial credit. Why? Because they’re over the age of 18.
If you are admitted to a hospital for even minor procedures, there is a good chance you will be asked to read and consider signing a do-not-resuscitate order.
Recent studies estimate that 39.6% of Americans 65 years of age or older are victims of financial abuse.
A living will is a legal document that allows you to specify the kind of care you’d like to receive in end-of-life situations. This is different from an advance healthcare directive, though either one can be an important part of an estate plan.
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.
