Most people are aware of the fact that a power of attorney is a document that you can use to give someone else the power to act on your behalf in a legally binding manner. On the surface, it may seem as though a power of attorney would have no place in an estate plan, but this is really not the case. A well-constructed estate plan will center around the events that will take place after your passing, and the facilitation of asset distributions will be at the core. This being stated, it is … [Read more...] about Why Is a Power of Attorney Part of an Estate Plan?
incapacity planning
Effective Planning in Light of Dementia Threat
As elder law attorneys, we focus on the legal needs of the senior community. We help clients understand some of the eventualities that they may face during the latter stages of their lives. It is important to address some inconvenient truths that can be difficult to accept. Life Expectancy When you think about your senior years, you probably envision the period that will immediately follow your working career. At that point, you can travel, engage in leisure activities, and enjoy your spare … [Read more...] about Effective Planning in Light of Dementia Threat
Develop an Estate Plan While You Can
When entities conduct research into the estate planning preparedness of American adults, the numbers are hard to understand. Caring.com has taken on the task over the last few years, and they have seen a steady decline in the number of respondents with estate plans in place. In the 2020 survey, less than half of individuals that were 55 years of age and older had wills or trusts. The number was less than 30 percent for people between the ages of 34 and 55. Estate planning procrastination … [Read more...] about Develop an Estate Plan While You Can
COVID-19 Shows the Importance of Estate Planning
Everything has changed since the coronavirus has become part of our lives, and it has taught us some important lessons. One of them is the stark realization that life-threatening circumstances can present themselves when you least expect it. Caring.com is a popular website that keeps a finger on the pulse of the estate planning preparedness of American adults. They have released their survey results for 2020 alongside the 2019 data in an effort to draw comparisons. The results are not very … [Read more...] about COVID-19 Shows the Importance of Estate Planning
Estate Planning: Attend to the Details
You should consider the finer details when you are engaged in the process of estate planning, but unfortunately, some of them are often overlooked. In this post, we will look a little bit beneath the surface to provide some insight. Life Insurance Life insurance is going to be a part of most estate plans. It can serve as a safety net that will provide income replacement for your loved ones if you were to pass away before your time. It is important to evaluate your family’s financial … [Read more...] about Estate Planning: Attend to the Details
DIY Wills: Proceed at Your Own Risk
People can sometimes become cynical and question why they need the assistance of experts. You can just go online and learn how to do anything you need to do for yourself, right? This is the information age, so we are no longer at the mercy of those who have gained professional expertise. The above may be true when it comes to something like making simple household improvements. However, there are many things that you should not try to do for yourself, and estate planning is one of them. As … [Read more...] about DIY Wills: Proceed at Your Own Risk
Fraud Case Has Elder Law/Estate Planning Implications
Sometimes a glaring real life example can get your attention more than any advice that you can be given by a professional. This can enter into the realm of estate planning and elder law from time to time, and there has been a news story circulating recently that fits the bill. In August of 2018, a successful business person from Tampa, Florida named Richard Rappaport got married to Lin Helena Halfon. On the surface, there is nothing to see here, but it gets more interesting when you learn … [Read more...] about Fraud Case Has Elder Law/Estate Planning Implications
Connect With the Vermont Chapter of the Alzheimer’s Association
Our law firm is devoted to estate planning and elder law matters, and we have an office in Essex Junction, Vermont. It is truly a fantastic place to call home, and the area provides residents with the best of all possible worlds. Perhaps the best thing about the city is the fact that it is a close-knit community, and locals genuinely care about one another. There are resources that people can tap into when they need assistance with all different types of challenges, and one of them applies to … [Read more...] about Connect With the Vermont Chapter of the Alzheimer’s Association
Face Elder Financial Abuse Head On
One of the most pressing elder law issues at the current time is that of elder financial abuse. It can be hard to imagine a time when you would be able to keep tabs on your affairs and detect threats, but things can change when you get older. Clearly, this is not a very pleasant subject to contemplate, but it is wise to meet it head on so that you can take the right steps to protect yourself. Even if you are always safe and sound on this level, there is nothing lost if you put the necessary … [Read more...] about Face Elder Financial Abuse Head On
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
