Having a durable power of attorney in place makes sense for some people. If you unexpectedly became ill or incapacitated, this would allow someone to take over your finances, including paying bills, checking on investments and managing the business side of your life. A power of attorney is a legal…
If you are among the millions of Americans who prefer to lease a car rather than buy it, you have obligations that are spelled out in the lease agreement. That contract and the laws of your state direct what happens, when a lease owner passes away. What if the salesman…
Life before Medicare was a real struggle for seniors without healthcare coverage. Today’s program still works wonders, but it doesn’t cover everything. Once you turn 65, you are eligible to take part in the Medicare system of healthcare. It can be a little confusing to apply, and sometimes a little…
Some people love their timeshares and plan their getaways around the timeshare company’s offerings. Others are excited at the start, and then find that it simply doesn’t work for them. For heirs, a timeshare can be problematic. When a timeshare owner dies, the timeshare will usually be part of the…
Digital property needs to be addressed in your estate plan just as tangible assets like real estate. Not planning for a digital afterlife is increasingly important. How many hours do you spend on your smart phone, laptop or desktop, busy with work emails, personal emails, social media platforms, gaming, networking…
When one spouse needs nursing home care and the other is healthy, there are several approaches that can be taken to securing Medicaid coverage. An elder law estate planning attorney should be contacted, since every situation is different. For some couples, a Medicaid-compliant annuity may be a solution. What happens…
While there are a surprising number of states that do accept holographic or handwritten wills, there are still requirements that must be met, or the will is deemed invalid. After her death last August, it was thought that Aretha Franklin had no last will and testament. However, as relatives have…
The number of seniors being exploited or abused quadrupled from 2013-2017. Tracked now by a number of financial institutions that submit data to FinCEN, a federal government watchdog agency, elder abuse has become a national epidemic. More than 180,000 Suspicious Activity Reports submitted by banks to the federal government were…
If a couple is thinking that they can sell the long-term care portion of a policy, because their HMO will cover the cost of long-term or skilled nursing care, they need to think again. All too often, people think that they have found a simple solution to a complicated problem,…
Estate tax, death tax, income tax and inheritance tax: what do they mean for your estate and your heirs? You’ll want to be sure to know the difference between them, as you create your estate plan. Most people don’t have to worry about the federal estate tax, which is often…