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Elder Planning Isn't Just For The Elderly

September 2017 Archives

Should I approve a feeding tube for my loved one?

Imagine your mother or father suffered a catastrophic stroke and you're the designated health care power of attorney. Depending on the severity of your loved one's health condition, he or she could be incapacitated and unable to make decisions for him- or herself. As the health care "attorney in fact" or health care "proxy," you'll need to be the one to speak with doctors to ensure doctors give the kind of care your loved one would want.

Common care planning mistakes

As we age, our needs change. While our younger years may be focus on building a family and accumulating wealth; our elderly years, may focus primarily on caring for ourselves and preparing to leave our assets behind to our loved ones. Although many people are aware of the estate planning process and how it can be beneficial to them and their family, some fail to recognize the importance of long-term care planning. Thus, it is imperative to understand some of the mistakes to avoid when considering this important issue.

What is probate and how does it apply to me?

The passing of a loved one can kick start a process that triggers the distribution of the deceased's assets and debts. This process, as well as the court that can oversee it, is often referred to as probate. Many people cringe when they hear the word probate, as it causes them to conjure images of embattled relatives fighting over a deceased loved one's money. Although this can and does happen, this is not the sole purpose of probate.

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