Conversations that matter: Talking about money with aging parents
Some conversations in life truly matter. Talking about money issues is perhaps one of the most important and difficult conversations to have with aging parents. It takes courage and planning. Most of us do not want to talk or even think about our parents’ declining health, let alone financial matters, so how can we volunteer to learn, understand and help our parents as they age?
Read Conversations that matter: Talking about money with aging parents
Avoid Litigation with Proper Record Keeping
Many of us will agree to be an Attorney (the person who has been named in a Power of Attorney (“POA”) document) for a parent, relative or friend, or have already done so. However, we do so sometimes without really knowing what we are legally required to do once the time comes for us to…
About Wills, Tractors and Caregivers
We all know the importance of having a will to ensure that our loved ones have their final wishes stated in writing to be carried out once they are gone. A will or testament is a legal declaration whereby a person, the testator, provides for the transfer of his or her property at the time…
Avoid Common Mistakes when Keeping Records
There are a number of pitfalls waiting for those who have agreed to act as Attorney under a Power of Attorney for Property (“POAP”). Despite our best intentions to execute the tasks associated with looking after another person’s financial affairs with diligence and awareness, we are after all, only human. Regrettably, mistakes and omissions will…
Avoid Surprises: Gather Key Information Now
You have agreed to be named as Attorney in a Power of Attorney for Property (POAP). You know they trust you to act honestly, loyally and with integrity, strictly in their best interests at all times, respecting their right to privacy and confidentiality. You even realize and are comfortable with the record keeping aspects of…
Avoid Choosing the Wrong Person as Power of Attorney
Having a Power of Attorney for Property (POAP) in place is a positive and practical step for our parents and relatives to take as they prepare for their retirement years. Probably the most important decision the Grantor (the person who makes the POAP) must make is who will be their ‘Attorney’. This is the term…
The Executor’s Companion
This comprehensive kit was designed to help you through the process of funeral preplanning, choosing an executor, and preparing the information about your estate for your executor. It’s what I call “Leaving a Loving Legacy” for your family and friends. But perhaps you’ll recognize it as a way of answering the question that people know…
The role of a caregiver when an elderly person makes a will
When Helena took her 81-year-old father, Walter, to the family’s lawyer recently so that Walter could have a will made, the lawyer, Ms. Rollins, asked her to leave the room while she talked privately with Walter. Helena was shocked and somewhat offended at being excluded. After all, it wasn’t as if she was there for any suspicious reason; she’d been helping Walter with banking and doctor’s appointments for years.
Read The role of a caregiver when an elderly person makes a will
Avoiding Probate Fees
As a wealth advisor, one of the many ways I like to assist my clients is to suggest areas to save them money and to help them avoid aggravation. I have encountered many real life scenarios in my past 25 years in the investment business relating to Will and Estate issues. For example, in some…