Q. My lifelong friend, Declan, has a family that has a history of early-onset Alzheimer’s. Declan is worried that he will get sick when he is still young and will not be able to pay his bills or make other decisions about his savings, his house, or his wishes when it comes to healthcare. Declan […]
How Much Should an Agent Under a Power of Attorney Be Paid?
Dear Ernie and Jannette, Both my parents signed Power of Attorney documents naming my sister as their financial agent. They now both have dementia and live in an assisted living facility. My sister wants to pay herself to do things like take them to the doctor, pick up their prescriptions, do some occasional shopping, and […]
Is a Handwritten Will Ever Valid?
Q. My brother, Larry, doesn’t like to spend money on anything. His family never went on vacation, never bought a new car, or never remodeled their 1970’s kitchen (or any other part of their home, for that matter). His attitude is that if something is functional, there is no need to replace it. He is […]
Choosing a Guardian for Our Children
Dear Hayek, We have young children and are considering doing a Child Protection Plan for each of them. We know we need to name guardians for our children, should we die or become incapacitated. The problem is that I cannot think of anyone who would be right to assume the role. Our parents on both […]
It’s Vacation Time — Are Your Children Protected?
Q. My husband and I are finally taking our dream vacation to visit Greece this summer. Our children, Mason (11) and Emilie (9), will be at sleepaway camp, and then at their grandmother’s house, so they will not be going with us. While we should be thinking about sun, fun, and relaxation, I keep having […]
Five Steps to Plan for Digital Assets, such as Online Passwords
Q. My father, Daniel, is a techie and an environmentalist. In other words, any type of banking, including bill payments, he does online (no paper statements for him!) He also invests online and is an avid user of Facebook, where he records just about everything he and my mother, his children, and grandchildren do. According […]
How to Make a Smart Phone Easier to Read for a Senior
Dear Bebe, I recently bought my mother a smart phone for her birthday. I figured it would be a great way for her to communicate with the grandchildren, and to have in case of an emergency. There are also some great apps to challenge her brain, to track medication intake, and to keep better […]
Does Medicare Cover Annual Physicals?
Q. My sister Amy, 66, recently called her primary care doctor’s office to schedule an annual checkup. She naturally assumed her Medicare coverage would pick up most, if not all, of the tab for the exam. After all, an annual visit is supposed to be covered. To Amy, the appointment seemed like a routine physical. […]
A Moon Landing, an Anniversary, and a Reconciliation
Fifty years ago, Apollo 11 launched from Cape Kennedy carrying Commander Neil Armstrong, and lunar module pilots Michael Collins and Edwin “Buzz” Aldrin to the first lunar orbit. Many of us remember Armstrong describing the event on television as “…one small step for a man, one giant leap for mankind.” A recent documentary was released […]
Where Not to Die This Year
Q. I own a home in Bethesda, MD, but was told I should sell it and move to another state. My 96-year old best friend Sheila insists that “it is expensive to die in Maryland” and I’m beginning to think she is right. Sheila lives in DC, and from what I gather, it is expensive […]
Gift Tax Limit for 2019
Dear Magic, Our daughter is getting married, and she and her fiancé are buying a home. She asked if my wife and I could contribute what we would pay for a wedding ($30,000) towards a home instead, since she only wants a simple exchange of vows at the courthouse. When it comes to taxes, what […]
How Do You Want to Be Remembered?
When Jennifer’s father died, her first worry was about her mother and how she will recover. Her mother was so shocked and saddened when it happened that she didn’t want to get out of bed and face the world, let alone deal with paperwork. Luckily, Jennifer’s father had everything in order, allowing her, her mother, […]
How Will Divorce Affect My Estate Planning?
Q. My husband and I completed our estate planning documents ten years ago. Now that we are both ready for retirement, we have decided to go our separate ways. We have been separated for a while now, and divorce is imminent. What happens to the estate planning documents we completed together? Thanks for your help! […]
Why Should I Bother with Estate Planning?
Dear Bebe, My mom keeps telling my wife and I that we should make an appointment to get our estate planning done. I am in my early 40’s and in good health, and have a 10 year old child. Why should I think about estate planning now? Please convince me that I need it and […]
Did Karl Lagerfeld Just Leave $210 Million to His Cat?
Dear Angel, I heard that Karl Lagerfeld, Chanel’s late artistic director, left the bulk of his £150 million fortune (approximately $210 million dollars according to today’s exchange rate) to his cat, Choupette. It makes me wish that I was her (the cat!) I have a beautiful, loyal, sweet, and smart labradoodle named Chewy, who I […]
Questions to Ask at a Family Meeting
Dear Ernie and Jannette, My wife and I have a family meeting planned where we will be discussing senior housing and end-of–life options for her mother, who is in the initial stage of Alzheimer’s, so now is a good time to figure out the best way to proceed. I know with all of the different […]
He Built Me a She-Shed, and Now He Wants to DIY Everything!
Q. My husband, James, retired last year after 35 years of teaching middle school history. He loved to teach, so in his spare time, he now tutors students. Besides tutoring, he loves working with his hands, so he became a Do-it-Yourselfer. To my surprise, for my 60th birthday, he built me a “she-shed,” where I […]
Is a Last Will and Testament Enough?
Dear Angel, My sister wants to save money on estate planning. She is considering Do it Yourself (DIY) forms that she saw online, or if she does go to an attorney, she said that a Will should be enough. Is that true? Thanks for your help! Will Snaughtenuff—Dear Will, It is commendable that your sister […]
What’s the Difference Between Retirement Planning, Financial Planning, and Estate Planning?
Q. My wife and I are hoping to retire in 12 years. We have already done our estate planning but have been told by friends and relatives that we need to also do financial planning and retirement planning. Aren’t financial planning and retirement planning the same thing done by the same person, or are they […]
What to Do When a Loved One is Terminally Ill
When Leanne’s father was diagnosed with frontotemporal dementia (FTD), his family knew the prognosis was not good. The average survival time for FTD is typically 3-5 years, and Leanne’s father has already had the disease for two years. Leanne and her brother really want to spend quality time with their father, but they’ve come to […]
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