Q. My mom owned her home for 25 years before she recently passed, and she held that in her trust. Her trust leaves it 50-50 to my brother and me. I would like to keep the home by purchasing my brother’s interest for cash, and he is okay with that. Is there a way that… Read More »
Posts Categorized: Estate Planning
How to Activate a POA Upon the Incapacity of the Signer
Q. My father signed a durable power of attorney a few years back, making it effective only in the event he later became unable to handle his own financial affairs. Sadly, I think that time has come. How do I activate it so that I, whom he designated as his agent, can now act for… Read More »
May Someone with Dementia Sign a Will?
Q. My husband and I would like to make wills, but I am concerned because he has been diagnosed with early-stage dementia. Legally, can he still make a will? A. It depends, but very often the answer would be yes. Under the law, he must have what is called “testamentary capacity”. This means that at… Read More »
Legal Steps After a Dementia Diagnosis
Q. My husband was just diagnosed with Alzheimer’s, but still seems to be generally okay. Are there legal steps we should take by way of planning for the future? A. Yes. Once you or loved one has been diagnosed with Alzheimer’s or other cognitive impairment, it is important to take action to get your affairs… Read More »
Planning Your Estate When Your Spouse Has Dementia
Q. My husband and I have put off doing our estate planning, and now he has dementia and his doctor is concerned about him signing legal documents. He is 5 years older than me and also has some other health issues. We have a home and some financial accounts, and all our assets are held… Read More »
UNMARRIED PARTNERS SHOULD GIVE ESTATE PLANNING TOP PRIORITY
Q. My partner and I have been in a Non-Marital relationship for approximately 12 years. Unfortunately, she is showing signs of early dementia, and her children from her former marriage are trying to take over her financial and personal life in a manner which is not in her best interest. We do not have anything… Read More »
How to Increase the Chance that Your Power Of Attorney Will Be Honored
Q. I have heard friends complain that their parent’s financial Power of Attorney document was not honored by their parent’s own bank. Is there a way to avoid this? A. Unfortunately, we hear that complaint from time to time. While there may be no way to draft a power of attorney that completely eliminate the… Read More »
How To Assist Physically Impaired Persons Sign Legal Documents
Q. My wife suffered a stroke and is essentially paralyzed. However, her mind is sharp. I need her to sign a Power Of Attorney so that I can take care of our financial affairs. Is there any way to do this? A. Yes. Where a person has sufficient mental capacity to understand the nature of the document… Read More »
Include Flexibility In Your Trust To Handle Change
Q. My husband and I are concerned about how to keep our trust up to date in light of changing tax law and changing family circumstances. What if we are too ill to make changes ourselves when needed. Any thoughts on how we can handle these concerns? A. Yes. With the ever-changing tax landscape, and… Read More »
Do I Need a Will If I Have a Trust?
Q: I have a Living Trust, prepared some time ago. I recently heard that it was a good idea to also have a Will. However, I thought the Trust took the place of a Will. Can you clarify this? A. Sure. Attorneys who prepare trusts generally also prepare a backup Will to coordinate with the… Read More »