This may come as a surprise, but a caregiver agreement is an absolute must! Ideally, it should be done before providing care and receiving compensation, and certainly while the elderly parent or loved one has the capacity to contract.
The month of May is Elder Law month. Throughout this month, we will be discussing various topics that are Elder Law related, meaning issues that typically affect not only the elderly, but also others who are vulnerable and disabled. This week, we are going to focus on...
Even if you haven’t had a life changing event, as a general rule of thumb, you should consider having your estate plan reviewed by a professional every five years or so. Why? Because federal laws change, state laws change, tax laws change. And while changes in the law will not necessarily invalidate your estate plan, they may have some unintended consequences.
If you have a life changing event, revise your documents to ensure the people you love will remain protected. Otherwise, your plans may be completely derailed.
Unfortunately, in real life, things get lost in translation. You may think it is sufficient to have conversations with your family members, but that’s not the case. You may believe that you can simply rely on those you are close to, because they’ll make the best decisions for you, but that’s not necessarily the case. The best way to ensure your wishes are protected is to write them down, and put the world on notice.
the best thing to do is to actually meet with a professional who can help you craft an estate plan, not just create a random document. If you wouldn’t try to DIY a surgery, you shouldn’t DIY your estate plan.
When it comes to planning, age is completely irrelevant. The sooner the better.
The unexpected can happen even in the best situations, and they can involve your most trusted peeps. So, do your due diligence. Plan for the unexpected, so you can minimize or avoid injury to yourself and others.
Unfortunately, a number of people treat their Estate Plans like their brackets. They’ve studied the odds, picked certain people to be in charge of their affairs, created their Wills or Trusts, and they never revisit or modify the documents when circumstances change. They sit, they wait, they pray, and they hope things play out according to their wishes.
Earlier this month, I shared that I was deeply, deeply, deeply concerned about some of the statistics regarding African American Wealth. Sadly, the wealth gap in America between African Americans and other races continues to grow, and is only projected to get worse....
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