Category Archives: (In)Capacity
Estate Planning Lessons from Celebrity Nightmares
The dispute over Larry King’s estate shines a harsh spotlight on what happens when an elderly person makes major changes late in life to his or her estate plan, especially when the person has become physically weakened and possibly mentally affected, due to aging and illness. A recent article from The National Law Journal,… Read More »
Can I Revoke a Power of Attorney?
Spouses and partners chosen by adult children often lead to estate planning challenges. In one case, a parent worries that a second husband may be a poor influence and wants to revoke the power of attorney originally granted to a daughter. How to do that legally and without any hurt feelings is examined in… Read More »
What Key Estate Planning Terms Should I Know?
Estate planning can help you accomplish several objectives, including naming guardians for minor children, choosing healthcare agents to make decisions for you should you become ill, minimizing taxes so you can give more wealth to your heirs and saying how and to whom you would like to pass your estate at death. Emmett Messenger… Read More »
The Wrong Power of Attorney Could Lead to a Bad Outcome
There are two different types of advance directives, and they have very different purposes, as explained in the article that asks “Does your estate plan use the right type of Power of Attorney for you?” from Next Avenue. Less than a third of retirees have a financial power of attorney, according to a study… Read More »
How Do You Ask Parents about Estate Planning?
How do you ask your parents about their estate planning? No matter how you slice it, it’s a touchy subject to bring up. You don’t want to come off as greedy when asking your parents about their estate planning. However, you need answers to certain questions to ensure that their financial wishes are carried… Read More »
How Does Guardianship Work?
For the most part, we are free to make our own decisions regarding how we live, where we live, how we spend our money and even with whom we socialize. However, when we are no longer capable of caring for ourselves, most commonly due to advancing age or dementia, or if an accident or… Read More »
How to Plan for Incapacity
Planning for incapacity is just as important as planning for death. One is certain, the other is extremely likely. Therefore, it makes sense to prepare in advance, advises the article “Planning ahead for incapacity helps you and family” from The Press-Enterprise. Let’s start by defining capacity. Each state has its own language but for… Read More »
Still Procrastinating about Your Estate Plan?
The continuing escalation of the COVID-19 pandemic has forced many people to finalize estate planning documents, even as their estate planning attorneys are working from home. People are coming to terms with the stark reality: they could be struck by the disease and need to have a plan in place, reports the article “Estate… Read More »
Estate Planning During a Pandemic
KCRA’s article entitled“5 things to know about estate planning” says that estate planning is a topic that people frequently don’t like to think about. However, more people now want to create a will or revise one that’s already in existence, because of the COVID-19 pandemic. You should have a will. You can find forms… Read More »
When You’ve Planned for Retirement but Didn’t Plan Your Estate: What You Need
If you’re in a situation where you must quickly create or update your estate plan, here are some suggestions that might help you. Every situation is different, Forbes’ article “Seven Tips For Converting Your Retirement Plan To Your Estate Plan, ” says, but these some tips that may start the process. Speak with an… Read More »