As we age, protecting our vascular health is just as important as monitoring our cardiac health, yet many people (including many cardiologists) completely overlook the vascular system and vascular screenings — until it’s too late. The heart is of course part of the vascular system, but the vascular system is much MORE than just the […]
Warren Buffett Explains How You Should Avoid Surprises When Your Will Is Read
Warren Buffett, 94, is one of the richest men in the world. He has put lots of thought into his investments, as well as his Estate Planning. Buffett, who recently updated his Estate Planning documents, plans to give away all of his wealth and has been doing so throughout his lifetime. According to Forbes, “Buffett […]
It’s National Estate Planning Awareness Week — Take Advantage of this Important Week to Get Your Planning in Order
Dear Angel, I read somewhere that this week is National Estate Planning Awareness Week. How can I convince my family and friends that they need an estate plan? Thanks for your help! Planna Head — Dear Planna, Nearly 56 percent of all Americans do not have an up-to-date estate plan. And 40 percent of Americans […]
Why Would a College Student Need a Power of Attorney?
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 […]
Simplifying Things for Your Heirs
Dear Kiwi and Mango, I am in the process of organizing my paperwork. I was thinking that I should put anything important that my children would need in one place, to make things easier if something should happen to me. Do you have any suggestions for how to simplify things for my children? Thanks for […]
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 […]
New Law Helps Protect Seniors from Financial Exploitation
Q. Last summer, you wrote about a veteran named Larry Cook who was a victim of financial exploitation. He was scammed out of millions of dollars in Virginia before he died. Mr. Cook was very careful with his money and would never have allowed himself to be exploited so badly had he been in his […]
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 […]
Are a Prenuptial Agreement and a Postnuptial Agreement Essentially the Same Thing?
Dear Kiwi and Mango, My brother is getting re-married and is on the fence about a prenuptial agreement. My husband and I actually have a postnuptial agreement. Aren’t they essentially the same thing? Which is preferable? Can you help me convince my brother to get one or the other, since I feel like it is […]
How Estate Planning Helps You and Your Caregiver
Dear Angel, I have Parkinson’s and need lots of care, and I know things are just going to get tougher. My sister is my caregiver who helps me full-time. I heard that getting my estate planning and long-term care planning in order will not only help me but will help her, as my caregiver. If […]
Jay Leno Files for Conservatorship Over His Wife’s Estate
TV icon Jay Leno and his wife, Mavis Leno, have been married for 43 years — and by all accounts they are still in love. Mavis, 77, suffers from dementia, and according to a recent court filing, she has been “progressively losing capacity and orientation to space and time for several years.” This is why […]
Top Five Reasons Banks Won’t Accept a Power of Attorney and What You Can Do About It
Q. My aunt signed a Power of Attorney naming her son, my cousin Andy, as her POA. When Andy took it to the bank, he was told that the document had to be on the bank’s form to be valid. This happened in Texas, but I’m concerned that the same thing could happen anywhere. What […]
Why Would an 18-Year-Old Need a Power of Attorney?
Dear Raider, A friend told me that when her son headed to college, they had a Power of Attorney drafted for him. Isn’t 18 way too young to think about these types of things? Why would an 18-year-old need a Power of Attorney or other estate planning documents? Thanks for clarifying! Cole Idge — Dear […]
How Conservatorship Can Lead to Abuse — UVA Law Professor Weighs In
Q. There has been so much coverage in the news about Britney Spears and her court-enforced conservatorship, and now I’m confused about conservatorships in general. I thought conservatorships are for people with severe cognitive impairments, and from what I’ve read about her, she may have had bad judgment in the past, but she doesn’t seem […]
How Do I Properly Revoke a Power of Attorney?
Dear Hayek, I appointed my son to be my agent under my Power of Attorney five years ago. Since then, he has shown his true colors as a spendthrift with massive credit card debt. I don’t think I can trust him to handle my finances, should I become incapacitated and unable to do so myself. […]
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 […]
Why You Don’t Want a Springing Power of Attorney
Q. My sister recently discussed the topic of power of attorney with her family at a family meeting. She is planning to use an online service (which I know is a bad idea from one of your recent articles on this subject) and is considering doing a springing power of attorney, where the power would […]
Is the New Netflix Movie “I Care A Lot” Realistic About Guardianship?
Q. I just watched “I Care A Lot” on Netflix and it was certainly eye-opening. In the story, a shady legal guardian, Marla Grayson, abuses the system by targeting wards that don’t really need her, places them in care facilities, and then assumes control of their assets. I was outraged that such a thing could […]
Plan Ahead to Live Longer
Dear Hayek, I read somewhere that if you plan ahead for the end of life that you will live longer. Is this true? Thanks! Liv Lawnger — Dear Liv, According to a recent study, what you say is true, but the study only applies to terminally ill patients. Still, as I will explain, planning in […]
What if the Bank Refuses to Accept a Power of Attorney?
Dear Bebe, My friend’s brother had a stroke and is now incapacitated. As his agent under his Power of Attorney, my friend needs to take over his finances. She recently went to his bank and was told that the bank will not accept his Power of Attorney because it was set up 14 years ago […]