Being able to make health care decisions for ourselves is so important to us, but what happens if you become incapacitated and are unable to voice your opinion? If you don’t have a health care proxy or guardian in place, state law chooses who can make those decisions. In an emergency, medical providers can take measures to keep us alive, but once the emergency has passed, the medical providers will look Read More
Britney Spears Case Puts Renewed Focus on Guardianships and Less Restrictive Alternatives
Britney Spears’s legal fight to gain control of her personal and financial affairs has brought the discussion of guardianship front and center. While a full guardianship may be necessary for many individuals who are incapable of managing their own affairs due to dementia or intellectual, developmental or mental health disabilities, the Spears case underlines the option of more limited alternatives. Every Read More
The Difference Between Elder Law and Estate Planning
Elder law and estate planning serve two different--but equally vital--functions. The main difference is that elder law is focused on preserving your assets during your lifetime, while estate planning concentrates on what happens to your assets after you die. Elder law planning is concerned with ensuring that seniors live long, healthy, and financially secure lives. It usually involves anticipating future Read More
Be Careful Not to Name Minors as Your Beneficiaries
Most people want to pass their assets to their children or grandchildren, but naming a minor as a beneficiary can have unintended consequences. It is important to make a plan that doesn’t involve leaving assets directly to a minor. There are two main problems with naming a minor as the beneficiary of your estate plan, life insurance policy, or retirement account. The first is that a large sum of money Read More
The Hazards of Do-it-Yourself Estate Planning
Do-it-Yourself estate planning appears to offer a cost-effective and easy alternative to visiting an estate planning or elder law attorney. But is online estate planning worth the convenience and initial savings? While online services might work fine, even the most educated user can have their intentions lost if they are not clear on terminology. In one case, a user confused an agent with an executor, completed a Read More
The Ins and Outs of Guardianship and Conservatorship
Every adult is assumed to be capable of making his or her own decisions unless a court determines otherwise. If an adult becomes incapable of making responsible decisions, the court will appoint a substitute decision maker, usually called a "guardian," but called a "conservator" or another term in some states. Guardianship is a legal relationship between a competent adult (the "guardian") and a person who because of Read More
Who Should Purchase Long-Term Care Insurance?
Buying long-term care insurance is one way to protect against the high cost of long-term care. However, this type of insurance may not be for everyone, so consider all your options. Long-term care – care in a nursing home or at home -- may be paid for in four main ways: Out-of-pocket. If you have sufficient resources, you can pay for your long-term care needs with money you have saved. Medicare. Medicare covers Read More
What to Do If You Are Appointed Guardian of an Older Adult
Being appointed guardian of a loved one is a serious responsibility. As guardian, you are in charge of your loved one's well-being and you have a duty to act in his or her best interest. If an adult becomes mentally incapacitated and is incapable of making responsible decisions, the court will appoint a substitute decision maker, often called a "guardian," but in some states called a "conservator" or other term. Read More
Avoid Living Probate: How to Keep Guardians and Conservators Out of Your Estate
Proper Preparation Allows You to Keep Control While most proactive individuals know the importance of having a well-rounded estate plan, it is typically considered as something that will take effect after they have passed away. But there are in fact many ways in which comprehensive estate planning can have a positive impact on your life while you are still around to reap the benefits. How To Plan for Incapacity Most Read More
