Category: Legal (page 2 of 3)

Solo Agers: Singles and Couples Without Adult Children – Part 2

The functions adult children most often serve in the lives of their elderly parents are 1) financial management, including bill paying and investment/withdrawal decisions; 2) legal representation, generally having the power-of-attorney over any legal matters concerning the parent, if and when the parent is not able to do this for herself; 3) medication management; 4) …more

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Solo Agers: Singles and Couples Without Adult Children – Part 1

About six years ago, I began to notice an interesting thing: many of my friends were spending a lot of time tending to their aging parents. Those that lived close by were helping with driving, relocation, managing medications, going to doctor appointments, etc. Those whose parent(s) lived further away did a lot of those tasks …more

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When to Appoint A Monitor For Your Power of Attorney

The power of attorney law in New York has been in effect since September 2009 (check your State’s POA law for provisions relating to monitoring). Through the legislation, many provisions were added to protect the financial well-being and safety of the individual granting the powers (the “principal”). There was significant concern that under the former …more

May Someone With Dementia Sign a Will?

Millions of people are affected by dementia, and unfortunately many of them do not have all their estate planning affairs in order before the symptoms start. If you or a loved one has dementia, it may not be too late to sign a last will and testament or other documents, but certain criteria must be …more

Tailoring a Plan to Fit Your Needs

Many clients have questions and confusion regarding which of the assets in their respective estates must go though the process of probate after their demise. Assets that are not held in a trust, held jointly with rights of survivorship or that do not have named beneficiaries must pass pursuant to a will, or under the …more

Lessening the Stress of Caregiving

Taking care of an elderly loved one can be exhausting and stressful. Caregivers often lack outside help and shoulder all the responsibilities of the elderly in addition to the responsibilities of the caregiver’s own life. The stress of care-giving can be reduced significantly by proper planning. Caregivers should also consider taking a few precautionary measures …more

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An Overview of A Trustee’s Duties

A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a “trustee,” holds legal title to property for another person, called a “beneficiary.” If you have been appointed the trustee of a trust, this is a strong vote of confidence in your judgment and …more

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IRAs – A Valuable Tool in Estate Planning

Individual Retirement Accounts (“IRAs”) are a very popular investment vehicle for retirement, but IRAs also need to be taken into account when contemplating one’s estate plan. Although IRAs can be used to provide for one’s intended heirs either directly or through a trust, proper planning is still required to ensure that the beneficiaries truly benefit …more

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