Planning ahead for your own death is a difficult step to take because no one wants to believe it can happen to them; but it will happen. By giving some careful thought to your goals for your beneficiaries, you will be confident that you are really protecting what matters.
Here we are in the midst of holiday excitement. We are making our lists, and checking them twice, much like the big jolly fellow in the red velvet suit. Amongst all this bliss we need to be careful about how to use our bank and credit cards and sharing contact information. Unfortunately, there are scams out there to be aware of.
When a loved one cannot make proper decisions of their own, it is important to protect them from abuse, exploitation or neglect. At the same time you want to develop the maximum self-reliance and independence of the ward.
Once documents have been prepared and signed, it is crucial that communication between you and your chosen emergency contacts know where to find these documents. It is recommended that a comprehensive folder of documents be created and easy to access in the case of an emergency.
Planning ahead for your own death is a difficult step to take because no one wants to believe it can happen to them; but it will happen. By giving some careful thought to your goals for your beneficiaries, you will be confident that you are really protecting what matters. An estate plan may include some or all of the following: Last Will & Testament, Revocable or Irrevocable Trust, Powers of Attorney, Joint Tenancy designation, and Beneficiary designation.
Strohschein Law Group is sponsoring a team this year to support research to end Alzheimer’s Disease. We see the impact with families as we help them navigate through the journey of caring for a loved one with Alzheimer’s and making difficult choices related to care, finances and legal concerns. Our team is walking in DeKalb on September 23rd (registration at 9am – walk at 10am) in Hopkins Park. We would love for you to join us, or would appreciate your thoughtful contribution.
As more and more of our lives are put online, estate planners are contending with how to advise clients to secure and transfer their virtual estates. The body of nontangible, digital assets people create and store on their computers and the internet is growing by leaps and bounds.
Many adult children are finding themselves advocating for a parent or parent(s) during the transition from needing care to end-of-life care. Caring for a parent or loved one at the end of life can come calmly if you’ve planned for it. Going through the process of deciding on the best possible care often leads to added stress and confusion, especially if your family is already in a difficult situation. However, coping with the onset of loss will greatly be relieved by having already had the conversations with family members and the communication was put in place.
Learning of unexpected expenses related to “in-patient” vs. “observation” hospital status leaves many hospitalized patients and their families confused and upset. And, when they find out that a “three overnight stay” in the hospital did not count as a pre-condition of payment of care in a skilled nursing facility when rehab is needed, the related expenses can rapidly deplete hard earned savings. The Centers for Medicare and Medicaid Services (CMS) issued notice of proposed rulemaking published in the Federal Register on July 30, 2012, and is asking for public comment. Take the opportunity to share your experience with observation status and to recommend changes that you believe would improve access to medically necessary hospital and skilled nursing facility care!
A will serves as the basis of your estate plan. Most people understand the importance of having a will. However, a will is a document that becomes effective when you die. What happens if during your lifetime you become disabled…