Living Trust Planning | Estate Planning Attorney

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  • Till Death or Divorce: Why You Need to Plan Now for Your Relationship’s End

    Till Death or Divorce: Why You Need to Plan Now for Your Relationship’s End

    After the excitement of Valentine’s Day fades away and the last indulgence of chocolate is savored, it’s crucial to turn our attention to a topic that may not be as thrilling as the idea of everlasting love: the reality that all relationships come to an end one day. Before you stop reading, hear me out.

    Whether it’s a breakup, divorce, or the death of a loved one after a lifetime together, every relationship eventually will come to an end. The most important thing is how you’ve planned for that ending, or whether you haven’t at all, as your planning (or lack of it) will have a real impact on you, your partner, your children, and your assets.

    The silver lining? While we can’t prevent the end, we can prepare for it with a blend of compassion and strategic planning that makes the end the best possible foundation for a new beginning.

    Understanding the Intersection of Love and Law

    Love is wonderful—joyful moments, shared dreams for the future, and yes, some legal considerations too. For married couples, the law has default provisions in place for what happens to your assets if one of you dies, but those default plans may not align with your personal preferences or the life you’ve built with your partner.

    If you’re an unmarried couple, the absence of a plan could leave you vulnerable, risking the loss of assets or the inability to make crucial decisions about your property or your medical care.

    To better understand how a lack of planning can leave you and your partner out in the rain, let’s look closer at these important areas that are affected when a relationship ends.

    1 | Property Ownership

    Let’s say you and your partner purchase a home and other assets together. Without clear documentation outlining ownership rights, a dispute can arise if the relationship ends in a breakup. But breakups aren’t the only danger.

    If you aren’t married and one of you passes away, the other partner might find themselves without a rightful claim to the property, potentially facing homelessness or a significant financial loss.

    If you own any property with anyone else or if you want to ensure your property lands in the hands you choose in the event of your death, contact us to plan for that property now.

    2 | Healthcare Decisions

    In the unfortunate event of a medical emergency where one partner becomes incapacitated, lacking appropriate legal documentation could impede the other partner’s ability to make critical healthcare decisions on their behalf. This can lead to delays in medical treatment or disagreements among family members over the person’s treatment, causing unnecessary stress and complications during an already challenging time.

    3 | Guardianship for Children

    For couples with children, failing to establish guardianship arrangements in the event of both parents’ incapacity or death can have devastating consequences. Without a designated guardian, children may be placed in the care of individuals who may not align with your wishes or values, leading to potential custody battles and emotional upheaval for the children and your extended family.

    If you and your partner end your relationship without coming to a mutual agreement on a guardian for your children, things could get even more chaotic – especially if one of you has documented your desired guardian and the other partner hasn’t.

    Worst of all, typical wills don’t cover planning for the needs of minor children sufficiently. It’s why we offer the Kids Protection Plan, specifically designed to ensure your children are never raised by anyone other than people you know, love, and trust, and are never taken from your home and into the care of strangers.

    4 | Business Interests

    If you and your partner share business interests or investments, the lack of a solid plan could jeopardize the future of these assets. Without clear instructions, the surviving partner may face challenges in managing or transferring ownership of these assets, potentially leading to financial instability or the dissolution of the business.

    Be Proactive, No Matter What the Future Holds

    In each of the scenarios above, the absence of proactive estate planning measures leaves individuals vulnerable to legal and financial uncertainties. By taking proactive steps that consider what will happen when your relationship ends, couples can safeguard their assets, ensure their wishes are honored, and provide peace of mind for themselves and their loved ones.

    Not sure how to start the conversation with your partner?

    Start by explaining to your partner your desire to safeguard the life you’re building together. Just as relationships evolve over time, your wishes and how they’re documented should too. Continuously engaging in dialogue and revisiting your plans ensures they remain aligned with your evolving needs and aspirations.

    Let Us Make It Easy to Plan Ahead

    Whether you’ve already started the conversation with your partner or need more guidance, planning for the future of your relationship can feel overwhelming. We can help.

    At our firm, we don’t merely dispense legal counsel; we safeguard your love story. We comprehend the profound significance of your relationship and are dedicated to ensuring its protection. Whenever (and however) your relationship ends, we’ll work with you to create a plan that considers these contingencies ahead of time so you and your loved ones can avoid the stress, conflict, and chaos that comes with incomplete planning.

    To learn more about how we approach estate planning from a place of heart, schedule a complimentary 15-minute call with our office.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life & Legacy Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life and Legacy Planning Session.

  • 3 Estate Planning Documents Your Parents Need Right Now

    3 Estate Planning Documents Your Parents Need Right Now

    Today we’re diving into a topic that’s absolutely crucial: estate planning for your parents. As they gracefully navigate their golden years, ensuring their peace of mind (and yours!) becomes a top priority. Whether they raised you the way you want, or showed you how you want to do it differently, as your parents age, one of the very best things you can do for your own best future, and that of your entire future lineage – your children, grandchildren, and beyond – is to take great care of the people you were born to or raised by.

    The questions you need to start asking now are: How will you help them if they become ill or injured? Who will take care of their bills and make sure their health needs are met? How do they want to be cared for, if and when they cannot care for themselves?

    The starting place is open conversation and a power trio of estate planning tools: the general power of attorney, the power of attorney for healthcare (including a living will), and the HIPAA waiver.

    Let’s break down why these tools are the unsung heroes of comprehensive estate planning for your parents, and how to bring them up so you can support your parents to get them created or updated, no matter how much or how little money they have in the bank.

    1. General Power of Attorney (POA)

    A general power of attorney (or POA)  grants a person you name (often a family member or trusted friend) the authority to manage your financial affairs if you become unable to do so yourself. From handling bills to making investment decisions, the general POA ensures that your financial matters are handled, whether you’re experiencing a temporary illness or a long-term inability to manage your money, such as in the case of memory problems.

    If your parents have assets that you must be able to access easily in the event of their incapacity, you may decide that a POA for accessing their accounts isn’t sufficient, as it can be difficult to get access to bank accounts even with a POA in place and will require court action. In that case, the best course of action is to ensure that their assets are titled in the name of a trust, with you or someone you trust as the named successor trustee, who can step in and handle financial matters for your parents, without any court involvement, when needed.

    2. Power of Attorney for Healthcare and Living Will

    It’s possible your parents already lean on you for guidance with their healthcare decisions, and it’s equally possible they don’t share details of their healthcare with you at all. No matter which side of the spectrum your parents stand on, the question of what will happen to their healthcare needs if they become seriously ill can feel overwhelming —  and trust me, it’s even more overwhelming during moments of medical crisis.

    Thankfully, a power of attorney for healthcare and living will allow your parents to explain their medical wishes to guide medical providers and family members on what treatments and life-saving measures they’d like to have, even in the toughest of times.

    The power of attorney for healthcare designates someone to make these medical decisions on behalf of your parents if they’re unable to do so. This trusted individual becomes the advocate, ensuring that healthcare choices align with your parents’ values and preferences.

    Meanwhile, the living will – also known as a declaration to physicians – outlines your parents’ wishes regarding life-sustaining treatments in the event they’re unable to communicate. From CPR to artificial hydration, this document provides clarity amidst uncertainty, giving both your parents and their loved ones peace of mind that the decisions being made around their care are what they themselves would want.

    3. HIPAA Waiver

    In the digital age, privacy is paramount – but what happens when privacy becomes a barrier to essential healthcare-related communication? Enter the HIPAA waiver, the ultimate tool for opening communication roadblocks in times of need.

    HIPAA (the Health Insurance Portability and Accountability Act) protects the privacy of individuals’ medical records. While this is crucial for safeguarding sensitive medical information, it can sometimes hinder the flow of communication between healthcare providers and family members, especially for the elderly and those incapacitated by an illness or injury.

    By signing a HIPAA waiver, your parents authorize specific individuals to access their medical information and speak directly to their medical providers, ensuring seamless communication and informed decision-making. This is essential in medical emergencies but is also extremely helpful if your parents need help hearing their doctor or understanding their medical advice.

    How to Bring Up Estate Planning With Your Parents

    The best way to bring up estate planning with your parents is to get your own planning handled first. Then let your parents know that in the process of handling your own planning, your lawyer raised the question of whether you were an agent under anyone else’s power of attorney, or named as a successor trustee in your parents’ trust, or if you’re going to be caring for aging parents at some point.

    If you’ve worked with a lawyer and they didn’t ask you those questions, give us a call and let’s review your plan and your parents’ planning to make sure that everything you’ll need is dialed in. This can all get quite messy very quickly, and now is the time to talk with your parents.

    Why the Urgency?

    You might be thinking, “Why the rush? Can’t we tackle this later?” Here’s the scoop: Life is unpredictable, and procrastination can be a costly gamble. Waiting until a crisis strikes to get these tools in place can lead to a whirlwind of legal and emotional chaos, leaving your parents’ wishes unfulfilled and their affairs in disarray.

    By proactively planning ahead, you’re not just checking items off a to-do list – you’re investing in your parents’ peace of mind and yours.

    Don’t wait for a storm to hit – schedule a 15-minute call today to learn how our unique Life & Legacy Planning process is designed with your family’s well-being in mind, offering personalized guidance and support every step of the way.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life & Legacy Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life and Legacy Planning Session.

  • What Caregivers Need to Know About Estate Planning for a Loved One With Dementia – Part 1

    What Caregivers Need to Know About Estate Planning for a Loved One With Dementia – Part 1

    Caring for a loved one with dementia is a challenge that millions of families undertake each year. As a caregiver, understanding how a dementia diagnosis affects your loved one’s legal decision-making is crucial to ensuring their wishes are honored and that you’re providing them with the best possible care.

    In this blog, we’ll explore the importance of estate planning, even after a dementia diagnosis, as the best method to ensure the wishes and rights of your loved one are protected.

    Understanding Incapacity

    Dementia is a progressive condition that affects memory, cognition, and daily functioning. As dementia causes your loved one’s cognitive abilities to decline, there may come a time when they’re no longer able to make sound decisions about their finances, healthcare, and overall well-being. 

    When the effects of dementia make it difficult for a person to understand information and make sound decisions, that person is considered to be incapacitated, which means they can no longer legally make healthcare or financial decisions for themselves. This change in their memory and cognition can be emotionally overwhelming for both your loved one and your whole family, and without proper planning, can require court involvement.

    But there’s still some good news. Thoughtful estate planning can ensure that your loved one is cared for by the people they know and trust if they can no longer care for themselves, and even if your loved one has already been diagnosed with dementia, it’s still possible for them to create a legally-binding estate plan during the early stages of the disease.

    Estate Planning In The Early Stages of Dementia

    Every adult should create certain legal documents to protect their rights and wishes, and this is no different for a loved one with a dementia diagnosis. What is important to remember is that in order to create a legal document, you need to have mental capacity – meaning you need to be fully aware of what you’re doing and what the consequences of your choices will be.

    Thankfully, a person doesn’t need to constantly be in a state of capacity to create an estate plan. As long as your loved one has the mental capacity at the moment they sign their estate plan documents, the documents will be valid, even if they regress into a state of incapacity afterward.

    In the early stages of dementia, and ideally long before any health problems surface, your loved one should create (or review and update) the following estate planning documents:

    General Durable Power of Attorney

    A General Durable Power of Attorney (POA) is a legal tool that allows your loved one to appoint someone to make financial and legal decisions on their behalf. Their POA can write checks, pay bills, maintain their home, and manage their financial assets. 

    This document becomes especially significant as dementia progresses. Encourage your loved one to designate a trusted individual as their financial power of attorney while they’re still able to make such decisions. 

    A Revocable Living Trust

    A General Durable Power of Attorney is an important tool, but many financial institutions place constraints on the use of a POA or don’t acknowledge their authority at all. To make sure your loved one has complete protection of their financial wishes, encourage them to establish a revocable living trust and move their assets into the name of the trust. Creating a trust document alone isn’t sufficient. Assets must be retitled, and beneficiary designations updated to ensure all assets are covered by the trust, and that the named successor trustee can step in with ease, when necessary.

    As part of creating a trust, your loved one will name the person they want to manage their assets when they’re no longer able to do so. This person is called the trustee or successor trustee. The trustee and power of attorney are often the same person, but not always. 

    Determination of who should serve in what role, and at what point your loved one should give up control over their financial assets, is part of what we counsel our clients to decide. If you have any uncertainty whatsoever, please call us to discuss. It’s far better to get the right tools in place, and the right people named, early than it is to wait until it’s too late. Once it’s too late, it’s really too late, and your family could be stuck with a court process as the only path.

    By having these two estate planning tools in place and the support of our proactive guidance, you can rest assured that the people your loved one knows and loves will be able to manage their assets for them as their dementia progresses. One of the best things we’ve experienced about part of this process it that the people who have taken care of all of this before they begin to experience dementia are able to relax into a phase of life that can often be full of anxiety because they know it’s been handled.

    Power of Attorney for Healthcare

    Similar to a General Durable POA, a Power of Attorney for Healthcare (HPOA) appoints someone to make medical decisions on behalf of your loved one when they’re unable to do so for themselves. Discussing and establishing a healthcare power of attorney early on allows your loved one to express their medical preferences and ensures their wishes are honored. 

    Their power of attorney for healthcare should also include a declaration to physicians, also called a living will, that outlines their desires regarding medical treatment, life support, and end-of-life care. Creating a declaration to physicians and discussing their wishes with you ensures that their preferences regarding life-sustaining treatment, resuscitation, and other medical interventions are documented and respected.

    The economic burden of caring for a loved one with Alzheimer’s or advanced dementia can be significant – between $2,500 to more than $10,000/month isn’t unusual. The time to discuss these costs, and what you or your loved one want is right now, before dementia or Alzheimer’s makes it impossible to have any choice.

    Plan As Early As Possible

    One of the most crucial steps in preparing for the challenges of dementia is to help your loved one complete their estate planning while they still have the capacity to do so. Waiting until the later stages of the disease can limit their options and increase stress for everyone involved. 

    By addressing legal matters early on, you can ensure that your loved one’s wishes are respected, and their affairs are managed in the way they intended, by the people they trust, without the need for court involvement. 

    If you have a loved one with more advanced dementia, check back here next week as we explore late-stage estate planning options and methods to avoid family and legal conflict over your loved one’s care. 

    To learn more, schedule a complimentary 15-minute call with our office.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life & Legacy Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life and Legacy Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Flu Season Fundamentals: How to Keep Seniors Safe This Fall

    Flu Season Fundamentals: How to Keep Seniors Safe This Fall

    The fall season is a beautiful time of year, but it also marks the beginning of flu season, which can pose a serious threat to your elderly loved ones. Fortunately, there are several steps you can take to ensure their well-being during the colder days ahead, including making sure you’re able to step in and help them with their medical and financial needs.

    Keep reading to find out how.

    1 | Create a Power of Attorney For Healthcare

    A power of attorney (POA) for healthcare (sometimes called a medical power of attorney) is a legal document that authorizes someone you trust to make medical decisions for you if you’re unable to do so yourself. If your senior loved one still needs to get a POA for healthcare in place, now is the time to create one. 

    If they do have a POA for healthcare, but it’s been a while since they created it, it’s time to review it to ensure it accurately reflects their current medical wishes and appoints a trusted individual as their agent for making healthcare decisions on their behalf. 

    Having a POA for healthcare in place for your senior can provide peace of mind knowing that you or another trusted person can immediately step in and care for them during times of illness or incapacity, such as a severe case of the flu or pneumonia. A POA for healthcare can also be used if you need to make a medical decision for your loved one during surgery or if they develop long-term memory problems. 

    Important: ensure that the POA for healthcare for your senior loved one (or yourself) includes “living will” provisions either included in the POA or in a separate document, stating not just WHO should make decisions for you or your loved one, but how you would want those decisions to be made.

    2 | Sign a HIPAA Waiver

    Health Insurance Portability and Accountability Act (HIPAA) regulations are in place to protect an individual’s medical information. However, during flu season, it’s important to have the ability to communicate with your senior’s doctors to stay informed about their health.

    A signed HIPAA waiver allows healthcare providers to share medical information with the individuals they’ve authorized to receive it. This can be crucial for keeping family members and caregivers in the loop about your senior loved one’s health status and treatment plans. 

    Whether your senior is feeling too ill to call their provider or needs help understanding their doctor’s instructions, a HIPAA waiver allows you to speak directly to your loved one’s provider to make caring for them as quick and easy as possible.

    3 | Schedule a Check-Up

    Before flu season is in full swing, it’s wise to schedule a comprehensive check-up for your senior loved ones with their healthcare provider. A check-up allows for a thorough assessment of their health, identification of any potential risks, and ensures that chronic conditions are being properly managed.

    This proactive approach can help catch and manage new health issues early on and prevent complications down the line. Plus, having a check-up now will hopefully let your senior avoid the need to visit a crowded clinic waiting room during peak flu season because a health issue wasn’t detected sooner. 

    Don’t forget to bring a copy of your senior’s power of attorney for healthcare and their HIPAA waiver to their provider’s office so they can scan it into their patient file to have it on hand and ready if needed.

    4 | Create a General Durable Power of Attorney

    To avoid exposure to the flu, colds, and rainy weather fall brings, many seniors appreciate the ability to stay closer to home. You can help keep them safe and make sure their daily needs are taken care of using a general durable power of attorney.  

    This legal tool lets your senior appoint people they trust to take care of non-medical decisions and tasks, like going to the bank, paying bills, or making purchases.

    Consider setting up or updating a general durable power of attorney to grant this authority when needed. This legal tool ensures that someone is empowered to manage financial and other non-medical matters on behalf of your senior loved ones during flu season or any other time they might need assistance.

    Just note that not all banks and financial institutions honor a general durable power of attorney, so contact your bank to verify if they do and then contact us right away to set up your loved one’s affairs in a way to ensure you can instantly step in to help with their banking needs regardless of their general durable power of attorney.

    Proactively Keeping Your Loved Ones Safe and Healthy

    Caring for your seniors’ well-being goes beyond routine medical check-ups and yearly physicals. When flu season rolls around, it’s important to take a proactive approach to ensure your senior loved ones can count on you for support in managing their needs. By doing so, you’ll help them access the best possible care that aligns with their wishes.

    By following these fundamental steps you’ll help ensure your loved ones stay safe, healthy, and cared for during the fall season and the new year ahead. 

    To make sure your senior has the legal tools they need to stay safe and healthy this year, schedule a complimentary 15-minute call with my office. We’ll be happy to share how we support our clients from a place of service and how we can make sure your entire family is well cared for now and in the future.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life & Legacy Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life and Legacy Planning Session and mention this article to find out how to get this $750 session at no charge.

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