It is the call we all know will come one day. One or both of our parents have fallen seriously ill. Of course, our first reaction is a concern. But, after the shocking moment has passed, we wonder “what do I do now?” If your parents have done effective legacy wealth planning, they would have some or all of seven elements that would ease your path. First, a Health Care Power of Attorney (sometimes referred to as a Health Care Directive, Living Will, or Health Care Proxy) will designate … [Read more...]
Handling Matters After the Death of a Loved One
When someone close to us dies, it is a time of grief, confusion, and change. As we struggle through our grief, we go through the haze of the funeral and burial. Then, it is tempting to just bury our heads in the sands of grief. However, things must be done to handle the deceased’s affairs as they wanted them handled. Long delays can jeopardize their wishes. First, there are significant deadlines from a tax perspective. If the deceased had enough in assets to have a taxable estate, … [Read more...]
Special Needs Trusts and Autism
Sam and Laura were delighted with the birth of their daughter Ella. The proud parents dutifully touted photos and began making college fund contributions. However, as time went on, Sam and Laura became concerned about Ella’s delay in developing basic skills. At two years old, Ella was struggling with speech, engaging in repetitive behaviors, and responding unusually to sensory stimuli. After enduring a gauntlet of testing from a variety of doctors, a diagnosis was made: Ella was … [Read more...]
When Father Time Catches Up With Our Parents
We all expect it to happen eventually—our parents getting older. Not just older chronologically, but physically and mentally older as well. It’s a difficult and sometimes painful process to realize that our parents are in fact aging. With each passing year, your parents, too, maybe showing more obvious signs of time gone by. Even the spryest of spry eventually start to slow down and need more help than they did before. Sometimes it happens slowly, and you have time to adjust to your new … [Read more...]
When a Loved One Passes
Change can be very difficult at times. A death in the family can be especially traumatic. It may feel as though the world should stop to mourn your loss, but it does not. The world still turns, the day still follows night, buses and subways still run. Yet, for the family who has experienced the loss, the world may have been turned upside down. Just when grief strikes, the family has additional burdens to bear. It is helpful to have a handy “to do” list so that in the panic and grief of the … [Read more...]
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