Before we provide some information about long-term care insurance, we should explain why the matter should be on your radar. The United States Department of Health and Human Services maintains the LongTermCare.gov website, and you should check it out if you are looking ahead toward your senior years. They share many relevant statistics on the site, and one of them is particularly attention-getting. Seven out of every 10 people that are turning 65 on any given day will need living … [Read more...] about Is Long-Term Care Insurance a Good Investment?
long term care insurance
Many families and parents of young children begin their estate planning by choosing a guardian to protect their children and their financial interests should something happen to the parents. But what is a guardian? How does a guardian differ from a guardian ad litem? Today we are going to take a look at guardians, guardians ad litem, and the roles they play in the estate planning process. Guardians Guardians are people who have the legal authority to make decisions for legally … [Read more...] about The Guardian and the Guardian Ad Litem in Estate Planning
There are numerous things to consider when you are creating an estate plan. You certainly want to facilitate the future transfer of your monetary resources, but you should also consider end-of-life issues. With this in mind, we would like to look at powers of attorney and guardianship in this post. … [Read more...] about What Is the Difference Between a Guardianship and a Power of Attorney?
When you are planning ahead for the future, you should think pragmatically. There are certain eventualities to confront that may not be especially pleasant. One of them is the possibility of incapacitation. Many people become incapacitated during the latter stages of their lives. Alzheimer's disease is the biggest cause of incapacitation among our nation's elders. Approximately 45% of people who are at least age 85 have contracted Alzheimer's disease. While Alzheimer's is a huge threat, it is … [Read more...] about What Are the Advantages and Disadvantages of a Guardianship?
New parents are often overwhelmed due to sleepless nights and unexpected financial burdens to focus on the steps necessary to safeguard their children’s future in the event one or both parents pass away. We recommend new parents consider the following actions as an essential part of starting a new family. … [Read more...] about 4 Key Estate Planning Actions for New Parents
Are you the parent of a disabled adult child? Have you been appointed as his or her guardian by a court of law? If not, are you aware that your legal rights to make decisions for your child are severely limited? Far too often I hear about parents who failed to obtain guardianship of their disabled child after the child became an adult. Usually this is because they were unaware that they lost all legal rights to make decisions for their child when he or she turned 18. … [Read more...] about Parents of A Disabled Child, Beware
The average lifespan in the United States right now is 78 years. Does this mean you can wait until you are in your 60s to start planning your estate? Unfortunately many people seem to think so because the majority of people who have not yet attained senior citizen status are going through life without having the appropriate estate planning documents in place. … [Read more...] about Is Estate Planning Only Relevant to Seniors?
If you are among the many who is going through life without an estate plan, there is more than ample motivation to stop procrastinating if you only take a moment to see the big picture. … [Read more...] about Parents Must Plan With Children In Mind
In many instances grandparents are fulfilling a dual role in the lives of their grandchildren, one as parents as well as the traditional role as grandparents. There are many reasons for this dual role as American society has evolved over the last several decades. No matter what the reason, grandparents who are raising grandchildren need to be aware of the legal issues involved concerning their responsibilities and the rights of the parents. Legal Custody Grandparents can become caregivers … [Read more...] about Grandparents in the Role of Guardian for Grandchildren
A guardianship occurs when a judge determines, with the advice of your doctors, that you are unable to make your own medical decisions. The court will then name a guardian, who is usually a friend or family member, to oversee your health care treatment. No Assigned Agent If you become disabled either mentally or physically and you are no longer able to state your medical wishes, you must have someone available to speak for you. Many people use a Health Care Power of Attorney or Advance … [Read more...] about When is a Guardianship Necessary?