Four Common Myths about Estate Planning
Almost everyone will benefit from estate planning, which addresses non-wealth aspects of your legacy along with the financial aspects. Estate planning can ensure someone you trust will care for your children and pets after your death, and make sure treasured family heirlooms end up where you want them to go. Estate planning also can help you pass along your values.
Reviewing Your Estate Plan after the Death of a Loved One
Although your estate plan primarily focuses on what will happen if you become incapacitated (unable to make or communicate your wishes) or die, the death of a loved one can have a major impact on your planning. If you have an estate plan, one of the first items you need to do when a loved one dies is to review the documents with the following questions in mind:
What You Should Know About Long-Term Care Insurance
With people living longer than ever before, more and more seniors require long-term healthcare services in nursing homes and assisted living facilities. However, such care is extremely expensive, especially when it’s needed for extended periods of time.
The Recipe for a Satisfying Estate Plan
Misconceptions about who needs an estate plan abound. Most people believe that estate planning is only for extremely wealthy business moguls or celebrities. But that could not be further from the truth. Estate planning is the process of making decisions about what happens to you, your money, and your property when you pass away or can no longer make decisions for yourself. Thus, estate planning should be standard practice for every adult age eighteen or older.
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4 Tips for Talking About Estate Planning with Your Family Over the Holidays
With COVID-19 still raging, your 2020 holiday season may not feature the big family get-togethers of years past, but you’ll still likely be visiting with loved ones in some fashion, whether via video chat or in smaller groups. And though the holidays are always a good time to bring up estate planning, given the ongoing pandemic, talking about these issues is particularly urgent this time around.
Once Your Kids Are 18, Make Sure They Sign These Documents
While estate planning is probably one of the last things your teenage kids are thinking about, given the dire threat coronavirus represents, when they turn 18, it should be their (and your) number-one priority. Here’s why: At 18, they become legal adults in the eyes of the law, so you no longer have the authority to make decisions regarding their healthcare, nor will you have access to their financial accounts if something happens to them.
COVID-19 Highlights Critical Need for Advance Healthcare Directives—Part 2
With new cases of COVID-19 currently surging in dozens of states, doctors across the country are joining lawyers in urging Americans to create the proper estate planning documents, so medical providers can better coordinate their treatment and care should they become hospitalized with the virus.
The most crucial planning tools for this purpose are medical power of attorney and a living will, advance healthcare directives that work together to help describe your wishes for medical treatment and end-of-life care should you become unable to express your own wishes. While all adults over age 18 should put these documents in place as soon as possible, if you are over age 60 or have a chronic underlying health condition, the urgency is paramount.
COVID-19 Highlights Critical Need for Advance Healthcare Directives—Part 1
As the COVID-19 pandemic continues to ravage the country, doctors across the nation are joining lawyers in urging Americans to create the proper estate planning documents, so medical providers can better coordinate their care should they become hospitalized with the virus.
The most critical planning tools for this purpose are medical power of attorney and a living will, advance healthcare directives that work together to help describe your wishes for medical treatment and end-of-life care in the event you’re unable to express your own wishes. In light of COVID-19, even those who have already created these documents should revisit them to ensure they are up-to-date and address specific scenarios related to the coronavirus.
Sandwich Generation Month: Considerations When Caring for Both Children and Parents
July is National Sandwich Generation Month, a time to honor those who are caring for both their children and their aging parents.
Protecting Your Parents From Undue Influence During COVID and Beyond
It’s an unfortunate fact that predators emerge during times of upheaval to take advantage of people. That means the COVID-19 pandemic can leave your parents vulnerable in more ways than one. But even when things go back to normal, this chronic problem of financial exploitation will still be a risk.
Online Wills? When You Should, When You Shouldn’t and Where to Do It
With all of the media about “digital wills” and “online estate planning” it could be tempting to think you can do your estate planning yourself, online. And, maybe you can. But, if you do, you need to know the potential pitfalls. Online estate planning could be a big trap for the unwary and actually leave your family worse off than if you had done nothing at all.
The Most Important Legal and Financial Actions To Take Right Now
As you already know, the COVID-19 pandemic means nothing is business as usual.
In this time of stress and chaos, your parents may be resistant to talking about estate planning. Perhaps you have not completed your own planning and are hesitant to get started. It may feel too pessimistic to plan for the worst in the midst of a scary situation. However, that’s exactly why it’s the most important time to do so. Plus, since hopefully you are staying inside, you may actually have the time to dedicate to getting these tasks taken care of.
How To Talk To Your Parents and Get Them To Stay Home
There’s no doubt that your parents have survived frightening world events, whether that was World War II, the war in Vietnam, nuclear threat, illness, poverty, civil unrest, or all of the above. However, the use of the word “unprecedented” regarding what’s happening now is not an exaggeration. And they may not understand it all or what they should do, not because they aren’t wise, but because the news has been confusing to interpret. Here are some tips to help you speak with your parents about staying home.
Unprecedented Times: Time to Get Prepared
In light of these unprecedented times and the spread of the Coronavirus (COVID-19), the Centers for Disease Control and Prevention (CDC) has issued guidelines for all of us to follow in order to protect yourself and to protect others. Large gatherings are cancelled and we are encouraged to limit physical contact and take extra precautions to take care of ourselves and our families, not out of fear, but out of concern and care for those around us and to stop the spread. In order to minimize exposure and the spread of the virus, take extra steps to protect yourself and your family by actively supporting your immune system, practice proper personal hygiene, which includes proper hand-washing, and limit physical contact with others. Additionally, ensure you are prepared and have food, supplies and resources for 30 days at home. Please visit the CDC for a complete list of the Guidelines if you haven’t done so already.
Your health and safety is important to me and the extra precautions include implementation of virtual meeting options by partnering with Zoom, a video conferencing technology solution. Utilizing technology, my office can continue to serve and support you while staying connected and minimizing physical contact. These are the times where it is more important than ever to ensure you are prepared, which includes having your estate planning in place.
CORONAVIRUS: Impact to Your Wealth, Health and Happiness
While it’s still hard to tell how the Coronavirus will impact us in the long term, it’s become a subject that’s impossible to ignore. Here are some resources to stay up to date on the virus and to keep yourself and your loved ones healthy.