Downs Law Firm, P.C.
A common dilemma that families face upon the incapacity or death of a loved one is locating estate planning documents. While preparing the documents are the most important step, that is irrelevant if the documents are lost when they most need to be used.
Incapacity can occur because of illness or an accident. It can be temporary or permanent. That’s why every adult needs a power of attorney in place, once they turn eighteen.
“Gray divorce” — the unfortunately named term for divorce after age 50 — is increasing among baby boomers.
Here are some important parts of your estate plan that should be reviewed.
It’s hard for a family to recuperate when the patriarchs and matriarchs have gone to glory, leaving a battle for who will carry the family’s leadership role and manage the family’s transition of wealth.
These agents take over your affairs in specific areas, if you become physically or mentally incapacitated.
Advice for adult children, so their parents in nursing homes and assisted living are safe from scammers.
Even those who have saved and invested well may not be sharing their financial information with a spouse or loved one. It’s time to do that now.
We see recurring confusion about how and when to use the authority over money in a Durable Power of Attorney (DPOA) for aging parents.
If you don’t have a spouse and children, you might not think you need to do any estate planning—but that’s not the case.
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