Given the prevalent role families play in providing long-term care, insurance may not always seem necessary. However, as briefly discussed in my last post on the basics of long-term care insurance, the true value of long-term care insurance involves protecting the wellbeing of loved ones. Even though spouses and adult children are often willing to […]
We have written about the benefits of utilizing revocable trusts for incapacity planning, probate avoidance and out-of-state real estate. However, we often get the question from couples, “Why do we need two trusts? Why can’t we just have one joint trust?” To be honest, in some instances, a joint revocable trust might be the appropriate option […]
People need fiduciaries for a variety of reasons, but this article is written with elderly people who are incapacitated by dementia in mind. Dementia is an umbrella term that describes a variety of diseases that affect memory, attention, language, and problem solving abilities to such an extent that daily living is seriously affected. I […]
One of the main goals at Epilawg is to help you plan your own epilogue to your life. Many of the posts here discuss passing on what you’ve accumulated during your lifetime to your loved ones. However, what if everything you accumulated throughout your life is lost because of your health? Because you did not […]
Earlier this month, a Hennepin County District Court Judge addressed the questions, “Who has the power to decide if a person under guardianship should be allowed to die? Should it be the guardian …? Should it be the Court …?”
Here on Epilawg, we already have great articles about the estate planning for social media accounts and the importance of having an estate plan that addresses ownership of digital art. This article will address the importance of giving fiduciaries information about digital assets for a smooth management of your incapacity plan and the proper administration of your estate plan. It makes […]
What is a Guardianship? A guardianship is a determination by the Court that a person (proposed ward) is incapacitated. The judge must make this decision based upon clear and convincing evidence. “Incapacitated person” means an individual who is impaired to the extent of lacking sufficient understanding or capacity to make or communicate responsible personal decisions, […]
Some clients know how important the Power of Attorney document is. They may have acted as attorney-in-fact for a spouse or an elderly relative. Or they may have experienced first hand the challenges created when someone hasn’t executed a valid Power of Attorney. The Power of Attorney (aka POA) names an attorney-in-fact to make financial […]
It is a common misconception that estate planning is only necessary for the wealthy or those with a spouse and children. However, all individuals, no matter what their financial situation may be, can benefit from preparing for the future with estate planning tools, too. An estate plan includes more than creating a Will or trust […]
It is a common misconception that estate planning is only necessary for the wealthy or those with a spouse and children. However, all individuals, no matter what their financial situation may be, can benefit from preparing for the future with estate planning tools, too. An estate plan includes more than creating a Will or trust […]
It is that time of year for eggnog and Yule logs, menorahs and dreidels, Christmas carols and Dickens’ A Christmas Carol, Ralphie and the Griswolds, and so much more that puts us all in the holiday spirit. While this time of year is joyous for most, it is also very stressful. Families gather near and […]