We often get questions about the most important estate planning document. Because so many people have made no preparations at all, they want to know where to begin. They figure that they should start with the piece that is absolutely essential and go from there. In a way, this makes sense, but there is no single answer that is right for everyone because primary estate planning objectives vary from person to person. What is most important for one individual may not be to the next … [Read more...] about What Is the Most Essential Estate Planning Document?
The prospect of developing Alzheimer's disease late in your life may not be a very pleasant one, but it is a real one all the same. If you knew that there was a significant possibility of encountering some type of challenge in the future, you would probably want to prepare in advance to the best of your ability. However, many people go through life without planning ahead for the possibility of incapacity. Approximately one out of every eight senior citizens is suffering from Alzheimer's … [Read more...] about Alzheimer’s Looms Large for Seniors
Being aware of the challenges that often confront senior citizens is important when you are planning for the eventualities of aging. Along these lines, you should know that the segment of the population that is 85 years of age and older is growing faster than any other. And given the capabilities of medical science, we expect lifespans to continue to expand. When you reach an advanced age, you become more vulnerable to Alzheimer's disease. As you probably know, Alzheimer's causes dementia; and … [Read more...] about When Dementia Strikes, Who Makes The Decisions?
One of the most important benefits of revocable living trusts for you during your lifetime is incapacity planning. Incapacity (or disability) can occur at any time; and, it often arises unexpectedly. A stroke, car accident, or head injury can leave you unable to manage your day to day business affairs and financials. You Determine the Definition of Your Disability Your revocable living trust will define your disability so that it’s clear when authority passes from you to your named … [Read more...] about How Revocable Living Trusts Provide Incapacity Planning
Estate planning involves incapacity planning so if you can’t make your own financial decisions in the future, a loved one or professional will step in and take over that responsibility. Incapacity planning will allow you to be properly prepared in case of an emergency. You never know when you may become incapacitated through a car accident, illness, or reaction to medication. Take the time to create a proper plan so that your financial affairs are always handled by someone you trust, even if … [Read more...] about Incapacity Planning: What Happens If I Can’t Make My Own Financial Decisions?