Every estate plan should have a power of attorney, in which you give one or more people authority to act as agents on your behalf, when you aren’t able to. Every estate planner and guide to estate planning will tell you that. What few will tell you is there are at least two important instances when the power of attorney (POA) won’t be recognized and followed.
Advocates are celebrating an important victory for individuals who provide care for their parents at home. The new decision will likely lead to a substantial expansion in the number of homes transferred to those caregivers.
Nearly half of working-age Americans assume that they will receive an inheritance that will support them later in life, according to a survey by the financial services company HSBC.
Obviously, the first step is to work with your doctor to slow the progression. However, there are legal steps you need to take as quickly as possible.
Many people transitioning into an elderly life start to require assistance in their everyday lives, especially if they suffer from a chronic or end-of-life medical condition. They need help for tasks, including bathing and eating.
Many people plan their estates diligently, with input from legal, tax and financial professionals. Others plan earnestly but make mistakes that can potentially affect both the transfer and destiny of family wealth.
According to Pew Research, roughly 13 percent of self-employed workers in single-person firms reported participating in retirement plans at their current jobs, compared to almost three-quarters of traditional workers.
Medicare data reveals which chronic conditions make seniors especially vulnerable to ending up in the hospital due to the coronavirus.