Q. “Mom suffered a stroke and is in the hospital in ICU. I do not have signing power on her bank accounts and I need to pay her bills. I am told that I need a Power of Attorney so that I can take care of her finances. Can you help?” A. We frequently receive… Read More »
Posts Tagged: power of attorney
Guidelines When You’re Appointed to Handle Another Person’s Money
Q. My brother-in-law wants to appoint me as his agent under his Power Of Attorney to handle his money and other affairs in the event of his incapacity. If I accept the appointment, are there any rules that I should observe? A. Yes, and while it may be an honor to be asked to serve,… Read More »
Estate Planning for Beginners Part 3: Powers of Attorney
Once you are secure in the knowledge that you’ve provided for your family and ensured that your wishes for the distribution of your hard-earned fortune are clear, it’s time to take steps to ensure that YOU will be protected and financially secure during your lifetime. It is not uncommon for seniors to need help with… Read More »
Excuses, Excuses… Why You Don’t Have a Healthcare Directive
What is keeping you from signing a healthcare directive? A recent article in Reuters mentions that only 2 out of 5 U.S. citizens have some kind of healthcare directive, and that our own U.S. laws might be the cause. A study done by Rebecca Sudore of the University of California, San Francisco found that “Most… Read More »
What Is Probate?
With all the recent news about what will happen with estate taxes, the process of probate has come up quite a bit. Sometimes probate is mentioned in a low-key, matter-of-fact kind of way; at other times it is presented as something scary, and to be avoided at all costs. We know our readers have seen… Read More »
Can You Foolproof Your Power of Attorney?
“The best laid plans of mice and men often go awry.” Although we hate to admit it, this statement will also sometimes apply to estate planning; and more often than we would like, it happens with powers of attorney. A power of attorney is the document in which you nominate an agent (or attorney-in-fact) to… Read More »
Executors and Agents: Choosing Your Own Replacement
When people think about estate planning they generally think about inheritance, or taxes, or even guardianship—but rarely are the words “executor” or “agent” the first ones that come to mind. And yet, choosing your executor or your agent is one of the most important decisions you’ll ever make. Your executor is the person who carries… Read More »
Debunking 5 Common Estate Planning Myths
There are five common myths that frustrate all estate planners—particularly because we know that not only are they patently untrue, but also because their continued circulation can be harmful. 1. Estate Planning is only for rich people. This is probably the single most common estate planning myth there is—and it is a myth. When… Read More »
Guilty Verdict for Brooke Astor’s Son Brings Elder Abuse Issues to the Forefront
The recent verdict by a New York jury finding Anthony Marshall guilty of stealing from his aging mother, Brooke Astor, while she suffered from Alzheimer’s disease is a sad reminder that abuse of elders does occur. Elder abuse is an issue that is all too common in our society, but one that rarely gets much attention…. Read More »
What To Do When Your Kids Don’t Like Your Will
In an ideal world elderly parents and their adult children always get along, and when those parents pass away their children quietly and respectfully follow their wishes regarding the distribution of their estate. Unfortunately, we don’t always live in an ideal world, and inheritance and estate planning can often cause tension between parents and children… Read More »