The Problem with Joint Bank Accounts
Here’s an idea that sounds better than it is: Put children’s names on the parent’s bank account. That way, children can sign checks if parents can’t pay bills when they become ill. When the parents pass, the money goes directly to the children with no court involved. Simple. Simple does not mean good, however. Joint […]
Estate Planning for Military Families
Estate Planning for Military Families No matter the time of year, it is always a good opportunity for members of the military and their loved ones to consider setting up — or revising an existing —estate plan. Military families need to consider special estate-planning issues that others do not. This is particularly true when one […]
Top 5 Budgeting Tips for Seniors
Money is one of life’s biggest concerns. People of all ages struggle to stretch their dollars to meet their needs and wants. Many seniors live on a fixed income and are presented with more challenges in making ends meet. Creating a budget can help seniors plan how to use the money they have to pay […]
Preserving Quality in End-of-Life Planning
We, lawyers, prepare powers-of-attorney documents so that when our clients can no longer act for themselves, the documents will convey on other trusted people the authority to act on our clients’ behalf. But when it comes to the actual use of those documents at the time of a health-care crisis, clear and powerful documents are […]
How Seniors Can Avoid Medicare Scams
By far the largest types of insurance fraud are scams against government and private health care insurers. Scammers frequently target government insurance like Medicare by stealing newly issued medical ID cards and then stealing identities. The Coalition Against Insurance Fraud estimates that tens of billions of dollars are lost annually to these types of fraud. […]
The Uncertainty of Social Security Funding
Social Security benefits, which are funded through 2 trusts, may not be available for much longer. The US Social Security Administrations funding trusts are known as the Old-Age and Survivors Insurance (OASI) Trust Fund and the Disability Insurance (DI) Trust Fund. In their annual report to Congress, the Board of Trustees has published some startling […]
Estate Planning Checkup
Just Like You Need a Medical Checkup, Your Estate Plan Needs a Checkup! Whether or not you currently have estate planning documents, one important item to add to your calendar is getting an estate plan checkup. Don’t Have an Estate Plan? If you don’t already have an estate plan, then getting one in place should […]
Holding a Family Caregiving Meeting
A family caregiving meeting is an essential tool when dealing with the care of an aging loved one. These meetings are beneficial for helping to keep all family members abreast of decisions that need to be made, changes in diagnosis or prognosis, and helps to ensure that all family members feel that they have a […]
Avoiding Common Estate Planning Mistakes
Are Any of These 11 Mistakes Lurking in Your Estate Plan? 1) Lack of Healthcare and Disability Planning. The majority of deaths occur in hospitals or other institutions. Patients may be incapacitated to the point where they can no longer communicate their healthcare wishes. Advance Directives and a Healthcare Power of Attorney can identify healthcare […]
Asset Protection for Physicians
3 Liability Planning Tips for Physicians You probably know that the practice of medicine is a profession fraught with the risk of liability. It’s not just medical malpractice claims either (although those are certainly scary enough). It’s the entire scope of risk from being in business, including employment-related issues, careless business partners and employees, and […]