Estate planning is often looked upon as a purely financial endeavor. You facilitate postmortem asset transfers to your loved ones, and that’s the long and short of it. In reality, there is another important factor to consider, and we will examine it in this post. Cognitive Impairment and Physical Incapacity Elder law and estate planning attorneys have to address some realities that a lot of people do not like to think about. Even if you wish it was not so, you cannot change the nature of … [Read more...] about Take Proactive Steps to Prevent a Guardianship
Durable Power of Attorney
Although every estate plan is as unique as the individual who creates the plan, there are some common documents that tend to be found in the average estate plan. A power of attorney is one of those. You probably have some idea what a power of attorney is and how one works; however, do you know what a “durable” power of attorney is? Because it is important that you do, the Oklahoma City estate planning attorneys at Parman & Easterday explain durable powers of attorney. What Is a … [Read more...] about What Is a “Durable” Power of Attorney?
A durable power of attorney for healthcare is a legal document you use to plan for who will make decisions on your behalf when it comes to medical care you will receive when incapacitated. There may come a time when you suffer a serious illness or are badly hurt and you cannot make your wishes known regarding whether you want extraordinary measures taken to save your life or not. You may also experience a medical emergency where someone has to decide on the care you will receive, but … [Read more...] about Requirements for a Durable Power of Attorney for Healthcare
It's important to be aware of some common myths about powers of attorney that often confuse or needlessly complicate the estate planning process. Using powers of attorney wisely, drafting them properly, and ensuring that they are made to match your individual needs is one thing, but you might need to get past some common myths to make sure you can get the most out of these vital tools. Today we're going to take a look at a couple of common myths about powers of attorney and why they are not … [Read more...] about 2 of the Most Common Myths About Powers of Attorney
There is a lot to think about if you want to be comprehensively prepared for the eventualities of aging. People routinely think of retirement planning as an exercise in financing activities like golf, travel, and dining out. However, there is another stage of life to think about. After these active retirement years are over, you may go through a period of incapacitation. … [Read more...] about Medicaid Planning & Early Dementia Signs
The Medicaid program is relied upon by most senior citizens who are receiving long-term care in the United States. This is true even though Medicaid is a program that is thought of as being a safety net for people with virtually no financial resources. Many of the people who ultimately utilize Medicaid to pay for assisted living were qualified for Medicare coverage. They worked throughout their lives, they were never financially needy, and they had some retirement savings. … [Read more...] about What Is the Five Year Medicaid Look Back?