Dear Hayek, Our son is heading to college for his sophomore year in a couple of weeks. Last year, I was worried about him adjusting socially and doing well academically. Now that I know he is happy there, has a nice group of friends, and has been on the Dean’s List for both semesters of […]
Comparing Financial Powers of Attorney: Badly Drafted DIY vs. Well-Drafted Documents
Q. My husband is a handy DIYer, and it has saved us lots money, in many instances. Now, he is insisting on doing our Estate Planning documents, including our Wills and our Financial Powers of Attorney, on his own. I am glad he wants to take the initiative, but I am thinking that this is […]
How Can a Power of Attorney Protect You from Exploitation?
Dear Angel, I was recently listening to a true crime podcast and heard an alarming episode. A woman, Caroline, created a power of attorney for an older man, Charles, and moved into his California home. Charles died shortly after, although authorities do not know the cause of death. Caroline had used the fraudulent power of […]
How Can Seniors Make the Most of Financial Literacy Month?
Dear Angel, I just read that April is Financial Literacy Month. What are some things I should think about when it comes to Estate Planning and retirement planning this month? Thanks for your help! Fi Nanshill — Dear Fi, Every April, we celebrate Financial Literacy Month to promote financial education and well-being. Financial Literacy Month […]
How Can I Help My Husband Make Better Money Decisions?
Dear Hayek, My husband doesn’t always make the best decisions about money. He has come close to being scammed in the recent past. Do you know of any training he (and I) could take to protect us from financial exploitation? Also, are there any tips you can provide? Thanks for your help! Munn Knee — […]
Getting Remarried? What to Discuss and Plan Before Walking Down the Aisle
Q. I have been a widower for six years and recently found love again. I asked her to marry me and she accepted. This is new to me, as I had been with my late wife for forty years and then on my own again until recently. What are some things that you would suggest […]
What You Can and Can’t Do With a Power of Attorney
Q. My brother, Larry, who never married or had any children, asked me to be an agent under his Medical and Financial Powers of Attorney. Before I accept, I’ve been reading about what my role would entail. I am also considering getting my own estate planning in order. I was wondering if you could clarify […]
When Should I Update My Power of Attorney?
Q. I’ve had a Power of Attorney in place for two decades now. I have moved since then and have had several life-changing events occur. I’m wondering in what instances should someone update their Power of Attorney? What happens if I don’t update it? Thanks for your help! A. As you likely realize, it is […]
Living Together Without Tying-the-Knot? Why Estate Planning is Imperative!
Marjorie (66), a widow, and Stan (67), a divorcee, have lived together for six years. A decade before, Marjorie watched her husband suffer from Frontotemporal Dementia, which caused him to be violent towards her, until he entered a nursing home and died three years later. Stan also had a difficult marriage and an even tougher […]
Acting in My Sister’s Best Interest
Dear Angel, My sister named me as agent under her Financial Power of Attorney, and she recently had a massive stroke, so I need to step in and start managing her legal and financial affairs. She’s only 59 years old, so this was VERY unexpected. But at least she was smart enough to do a […]
When is a Person Too Incapacitated to Sign Legal Documents?
Q. My father, Roy, has severe arthritis and is in the early stages of Alzheimer’s. He is widowed and currently lives in a stand-alone cottage house that my husband and I built for him in our backyard. Sometimes he seems completely “with it,” and other times, he loses his bearings, forgets names and faces, gets […]
Virginia’s New Emergency Contact Program
Q. Last week, my husband got into a car accident. It was minor, luckily, and although he was a little shaken up and had whiplash, he was fine otherwise. When he called us from the hospital, the children and I were extremely worried, as you can imagine. What if the accident were more severe, and he was unable to […]
Ask the Expert: Can Banks Refuse to Accept a Power of Attorney?
Q. My cousin’s parents executed a Power of Attorney naming her and her sister as co-agents. My aunt is now deceased. My uncle, who has dementia, is owner of an investment portfolio with monthly dividends being automatically reinvested. My cousins wish to have the dividends placed into my uncle’s checking account so that they may […]
Strong or Vulnerable? Social Security in its 80th Year
For 80 years, Social Security has been protecting American families from both expected and unexpected challenges. Last week, the Social Security Board of Trustees released its annual report to Congress, which projects that Social Security’s condition isn’t as troubling as many think. The 2015 report presents an honest, open discussion about the value of Social […]
Why Plan for Incapacity?
Dear Commander Bun Bun, I read a startling statistic that less than a third of the population has completed Incapacity Planning documents. Why don’t people plan for incapacity and how can my family begin the process? Justin Case — Dear Justin, Thanks for your question about incapacity planning. Reasons people don’t plan for incapacity often […]