Many people assume that estate planning is a purely financial endeavor. You state your wishes with regard to how you want your assets to be transferred through the terms of a will or trust, and that’s the end of the story. This is actually an incomplete understanding. Yes, the facilitation of asset transfers will be at the core of the process, but you should also address eventualities that you may face at the end of your life. Admittedly, no one is especially anxious to consider these … [Read more...] about Don’t Overlook Advance Directives for Health Care
Incapacity Planning
Assert Your Choices to Prevent a Guardianship
You may think about estate planning as the act of creating a document that will direct the transfer of your assets after you are gone. This is definitely a significant part of the equation, but a well-constructed plan will go a step further. It will also address eventualities that you may face toward the end of your life. Incapacity Is Common Until you have had an experience, it is nearly impossible to truly imagine what it would feel like, and this is understandable. This being stated, when … [Read more...] about Assert Your Choices to Prevent a Guardianship
Census Report: Burlington Senior Population Exceeds National Average
As elder law attorneys, we are very significantly impacted by an emerging demographic phenomenon. During the years after World War II, there were an inordinate number of babies born in the United States. These are the baby boomers, and over recent years, they have started to reach their senior years. Because of this, there is a rapidly aging of the population underway. Across the country, seniors comprise about 14 percent of the population. Here in the Burlington area, it is 16.4 percent … [Read more...] about Census Report: Burlington Senior Population Exceeds National Average
How Is a Power of Attorney Used in Estate Planning?
Most people are aware of the fact that a power of attorney is a legal device that can be used to allow someone else to act for you in a legally binding manner. The person that gives the power is called the grantor or principal, and the term for the proxy is “attorney-in-fact” or agent. There are general powers of attorney, and limited powers of attorney. If you execute a general power of attorney, the agent or attorney-in-fact would have sweeping powers to act as your representative. In a … [Read more...] about How Is a Power of Attorney Used in Estate Planning?
Incapacity Planning Is a Must
When you think about the matter of estate planning, arranging for postmortem asset transfers will probably come to mind. Without question, you have to execute a will or some type of trust to state your final wishes. The ideal course of action will depend upon the circumstances, and there are many possibilities. This is one of the most important financial decisions you will ever make, so you should certainly discuss your options with a licensed estate planning attorney. End-of-Life … [Read more...] about Incapacity Planning Is a Must
What Happens if it is Too Late for a Power of Attorney?
Burlington elder law attorneys provide advice on making an incapacity plan, which typically includes a power of attorney. However, many people have no plans in place in case of incapacity and do not make a power of attorney (POA), which could have helped both them and their family members after a serious illness or serious injury strikes. A POA must be created while a person is of sound mind, and it is often too late to create a power of attorney once once is needed. You should talk with … [Read more...] about What Happens if it is Too Late for a Power of Attorney?
What Kinds of Healthcare Directives Do You Need?
Healthcare directives can allow you to provide instructions on your preferences for life-saving medical care. There are many situations where an illness or injury will cause you to need medical services at a time when you are not able to communicate. A decision will have to be made regarding whether to administer or withhold care. If you have advanced directives in place, your wishes will determine how that decision gets made. If you don't have any advanced healthcare directives, then it becomes … [Read more...] about What Kinds of Healthcare Directives Do You Need?
What Happens if You Don’t Create a Durable Power of Attorney?
A durable power of attorney can be one of the most important documents that you make as part of your incapacity plan or your estate plan. A durable power of attorney can give you the maximum amount of control over your future, even if something bad happens to you and you become unable to communicate your own wishes or make decisions on managing your own affairs. You need to create a durable power of attorney before something happens to you. If you don't, the consequences for your family, … [Read more...] about What Happens if You Don’t Create a Durable Power of Attorney?
Vermont Residents Describe What it is Like to Live with Alzheimer’s
A Burlington Alzheimer's planning lawyer can provide assistance to patients and their families when a doctor makes an Alzheimer's diagnosis. Alzheimer's is a disease that becomes progressively worse and which can make you feel as though you are losing control over your own destiny and your own future. You do not have to just surrender to fate, though. An attorney at Unsworth LaPlante, PLLC can provide you with help in preparing and making plans after a diagnosis. While it can be frightening … [Read more...] about Vermont Residents Describe What it is Like to Live with Alzheimer’s
Who Should Get Help With Inheritance Tax Planning?
Inheritance tax planning is one important step you need to take in order to provide the largest possible estate for your loved ones to inherit. Aside from planning for taxes, there are many more things you need to do in order to protect the legacy you want to leave for the people who you love and for causes that you wish to support. A Burlington inheritance tax planning lawyer can provide assistance with addressing tax issues through the creation of a comprehensive estate plan. We also … [Read more...] about Who Should Get Help With Inheritance Tax Planning?
