Downs Law Firm, P.C.
While thinking about legacy planning can be unpleasant because it involves discussions about incapacity or mortality, it’s an important aspect of good financial planning that shouldn’t be ignored.
Advice for adult children, so their parents in nursing homes and assisted living are safe from scammers.
At such an emotional time, more paperwork is probably the last thing you want on your to-do list. However, taking a few key steps is critical to your financial future.
Some people think that, because their assets are jointly owned with a spouse or are in a trust, they do not need a Power of Attorney, or that if they become incapacitated, their spouse automatically has the authority to make medical decisions on their behalf.
Take, for example, the sad and sordid tax case of Mary Ellen Cranmer Nice vs. United States of America, which would not have existed if an attentive financial advisor hadn’t noticed the large IRA distributions that were allegedly stolen right from under a matriarch’s nose.
Bradford Lund tries to prove he is mentally capable of managing his affairs but is trapped in a probate system susceptible to predators.
For most people, pets aren’t just animals–they’re the excited ‘hello’ when we get home from a long day of work, our jogging partners, our best friends, and part of the family.
In my parents’ trust, they leave each other their share upon death, and then I become trustee when my last parent dies. I’m really concerned about this whole deal.
While everyone from brand new parents to great grandparents can benefit from the advice of a competent estate planning lawyer, frequently the individuals making sure that their affairs are in order, are those in their golden years. They have a common concern: what about their grandbabies?
While there are differing reasons for this, ranging from drug use or inability to care for the child, various legal issues arise when grandparents are the primary caretakers.
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