It began on a sunny Saturday morning, when 70-year-old Sandra Johnson’s phone rang.
“Sandra, Sandra Johnson?” the caller asked.
“Yes, that’s me,” she responded.
“I’m pleased to inform you that you have won the Clearinghouse Sweepstakes, a grand prize of $1 million! Unfortunately, when we went to your address to deliver the check, no one was home. Before we go further, could you verify your address for me?”
Should You Hire A Professional Fiduciary?
Marilyn Simons was irate.
“I’m telling you, Bob, that estate planning attorney thinks we have raised a bunch of dummies. We have three children, all perfectly competent adults. Why shouldn’t we nominate one of them to oversee our affairs? I am quite sure none of them would object.”
Estate planning is a critical necessity when someone is diagnosed with a terminal illness: It is vital that the proverbial “house” be put in order. Timing quickly becomes a concern. At a certain stage in a terminal illness, it may become difficult to ascertain desires, or identify the information required, to carry out effective estate planning. In addition, mental competency,…
Aunt Minnie may appear to be a little flighty and forgetful, but does that mean she is incapable of creating and legally executing (signing) a will? The answer is complicated.   The preparation of an estate plan, which may include a will, trust, and/or other documents, involves many steps.  Assets and liabilities must be identified and decisions need to be made…
No one likes to think of this subject but the reality is that anyone at any age can be struck down by injury or illness. Two of the fastest rising maladies in the United States are dementia and stroke. Incapacity may be either temporary or permanent. The issue then is who will step into a person’s shoes and manage their…
For anyone with aging parents or loved ones, the prospect of finding someone to assist that person at home when the time comes can be a daunting task. Even before that time comes, convincing a parent that they need help at home is a challenge. Most elders resist anything that threatens their independence and they fundamentally do not want strangers…
According to the Alzheimer’s Association, approximately 5.3 million Americans were living with Alzheimer’s disease in 2015. Women age 60 and over are considered at highest risk of developing Alzheimer’s disease. Alzheimer’s is a progressive form of dementia that causes problems with memory, thinking, and behavior. While estate planning is important for everyone, it is especially important to consider after a…
California has made some important changes to its Probate Code regarding guardianships, conservatorships and elder abuse that you should be aware of. Up until now, in California and most other states, a wife or husband had the legal right to bar visitation to the other spouse’s adult children who might want to visit them. An ailing spouse may have dementia…
Many people think estate planning is only necessary for the elderly and the wealthy. This is a very common misconception. Here are six reasons why estate planning should be on the radar for everyone in their 20’s or 30’s: 1) You Never Know What May Happen Think you are young and have plenty of time left to worry about estate…
Looting an elderly person’s estate is not as isolated as you may think. There have been many newspaper articles about estate looting. For example, back in 2009, Anthony D. Marshall, the 85-year-old son of Brooke Astor, the wealthy New York socialite who died in 2007, was sentenced to prison for raiding money from his mother’s estate that was earmarked for…