It often starts with the kids. They are worried about their aging parents and what will happen to the family house. Will it be lost to Medicaid should the parents need nursing home care or subject to estate taxes? The families’ well-intentioned solution: Place the deed in the children’s names. However, the parents don’t necessarily want to do …
Archives for June 2019
Protecting the Family Home
Jack and Betty Jones have lived on their family farm in Connecticut for over 40 years. Recently, Jack suffered a stroke and his doctor told him he needed nursing home care. “Finding a nursing home is not the problem,” Betty said when she came to our office. “There is a nursing home in town where my parents lived for several years. Our family was …
Powers of Attorney Come in Different Flavors
A power of attorney is a very important estate planning tool, but in fact there are several different kinds of powers of attorney that can be used for different purposes. Before executing this crucial document, it is important to understand what your options are. A power of attorney allows a person you appoint – your “attorney-in-fact” or agent …
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Why Not Just Use “Do it Yourself” Power of Attorney Form?
A durable power of attorney is one of the most important estate planning documents you can have. It allows you to appoint someone to act for you (your “agent” or “attorney-in-fact”) if you become incapacitated. Without a power of attorney, your loved ones would not be able to make decisions for you or manage your finances without asking the court …
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Planning for the Future: For People of All Ages
With the end of April in sight, many of us have already long since forgotten about those New Year's Resolutions we might have made --- perhaps you were going to exercise more, spend more time with your family, or watch less TV. However, one resolution you should make and follow through on is to do some legal and financial planning --- this is true …
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