Posts Tagged ‘Power of Attorney’

Article 112-Estate Planning Series: The Solution is Simple, Until It’s Too Late 

Written by Wright Law on . Posted in Estate Planning, Uncategorized

To satisfactorily discuss a legal issue, I may spend a few columns writing about it.  For example, recent columns have addressed long term care, and there is more on that topic I would like to share with you. 

However, I also try to share real life examples (altered only to preserve privacy) to help illustrate the importance of these issues.  The decisions you make can have very serious consequences. 

Recently, I met with a family dealing with a terrible, unexpected crisis.  A family member had been very seriously injured and will likely spend months – possibly years – recovering.  His cognitive abilities have been seriously affected.  For at least the foreseeable future, he will not be able to make any decisions.  However, legal, financial and other decisions still have to be made.

Article 111-Estate Planning Series: It Can Happen In An Instant

Written by Wright Law on . Posted in Estate Planning, Long Term Care

Many, including seniors, see long term care as an issue to be addressed in the future. Because it is usually associated with the frailties of age, it is also assumed they will be able to anticipate the need for long term care, and plan accordingly. 

Unfortunately, the need for long term care too often arises suddenly.  The lifestyle and independence to which seniors are accustomed can be forever changed without any advance notice or indication.

Article 100-Estate Planning Series: What is the Best Way to Help Your Aging Parent?

Written by Wright Law on . Posted in Estate Planning, Will

Last column I discussed the challenge for both parent and child as an aging parent loses the ability to care for him or herself. In some cases, the parent may have only nominal limitations.  In others, a parent may be fully incapacitated.      

A parent may be mentally capable of handling any situation; and physically capable of handling most.  However, due to limited mobility -- for example – assistance is still necessary.  A trip to the bank now requires coordination of the parents and child’s schedule.  Even when a child is willing to transport an otherwise immobile parent, it is not always convenient . . . for either party. 

Article 59-Estate Planning Series: Will You Be Untangling Your Parents’ Lives?

Written by Wright Law on . Posted in Estate Planning, Trusts, Will

Recently I read an article published in the Wall Street Journal® titled “The Difficult, Delicate Untangling of Our Parents’ Lives.”   The author and his wife are in their 50s and dealing with the challenges of parents too incapacitated to handle their own affairs. 

Significantly, the frustration was not that their parents needed help.  Most children would consider such help to be an opportunity to repay the sacrifices made by their parents.  (However, parents who plan to rely on their children should not underestimate how significant this burden may be.  Perhaps I will discuss this more in a future column.)

Article 20-Estate Planning Series: When the Need for Long Term Care Arises in an Instant

Written by Wright Law on . Posted in Estate Planning, Long Term Care, Trusts, Will

By definition, the need for long term care can last for years.  This is true even for residents of nursing homes, perhaps the most expensive level of care.  According to one study, the majority of nursing home patients will be there for at least a year.  In fact, almost 25% will remain patients for more than three years.

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