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Estate Planning

Learning About Guardianships

Palm Beach, Florida Elder Law Attorney Lisa Goldstein talks about all aspects of Guardianship – what it is, how it is established, the costs involved and what the guardian is mandated to do. Lisa’s website is www.LKGLawPA.com

After55 Living Radio Episode 20 – All About Wells Fargo Elder Services

This episode of After55 Living Radio features Liz Reeve-Calley and Chuck Newman of Wells Fargo Elder Services in Sun City, Arizona discussing the many facets of their elder services program and how it benefits the seniors it serves.

Press PLAY button to listen to this podcast:

 

After 55 Radio – Managing Your Parents’ Money As An Adult from NPR’s “Day to Day”

Originally aired on NPR’s “Day to Day”, this short but extremely informative report deal with managing your parents’ finances as an adult child. Personal finance expert Michelle Singleterry gives some quick advice on how to be there to help your parents when it appears they are no longer able to properly manage their financial affairs. When is it time to talk about their financial situation? What are the signs that your parents could be in financial distress? Is it possible to get a Power of Attorney if you suspect there is a serious problem with way your parents are managing, or not managing their finances? Do your parents have to live under your roof for you to be able to deduct any dependent care expenses you incur caring for them?

To listen now, click the DOWNLOAD button below:

Paperwork for Aging

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(photo courtesy of col.sanders and flickr)

Just like in the picture above, get your pen and paper out before you click here. I am having you read an article/survey taken by AARP showing the most important paperwork all members of a family should have prepared and signed in case of death. Write down the names of the advance directives and pre-plans. Make sure everyone in your family has these documents and they are in a place where they can easily be found and accessed. The survey shows that many people need to prepare this paperwork. Don’t wait. Click on the link, make the list and get the paperwork done. Kind of like the flashlight with dead batteries that you reach for and find out too late that you wish you had been better prepared.

After 55 Living Radio Episode 11 – Financial Planning for the Terminally Ill

Although many boomers and seniors create meticulously detailed financial plans for retirement, the majority probably never consider how their plans would be suddenly altered if they or their spouse received a terminal diagnosis. There are a select few financial planners that focus on this challenging niche of financial planning and we were fortunate to have the opportunity to speak to two of them to discuss how a family should react should this situation arise.

Lynda Elley and David Daughtry of Copperwynd Financial in Scottsdale, Arizona are both experts in the field of financial planning for the terminally ill. Both possess the rare combination of skill and deep sensitivity needed to assist families dealing with terminal illness. We spoke to them about how a terminal diagnosis can alter a family’s financial planning strategies and got some tips on short term solutions to assist families facing large medical expenses.

To listen now, click the play button below:

 

After 55 Living Radio Episode 5 – Advance Directives and your Living Will

When doing your estate planning, it is important not to overlook the creation of Advance Directives and a Living Will. While many people routinely include Durable Powers of Attorney for their financial decisions in the event of incapacity, many neglect to execute similar instruments for healthcare decisions.

We spoke with Barbara Volk-Craft of The Hospice of the Valley about the various documents involved in a properly executed set of Advance Directives, including Healthcare Power of Attorney, Living Will and Pre-Hospital Medical Care Directive (DNR).

To listen now, click the play button:

 

After 55 Living Radio Episode 4 – Seniors and Trusts 101

If you have questions about the basics of creating a trust, we have the answers. In this week’s episode of After Living 55 Radio, elder law attorney Emily Kile and financial planner Lynda Elley discuss this important component of estate planning and when trust is (and isn’t) appropriate.

Find out about the different types of trusts, how a trust can save money for your heirs, what assets pass (and don’t pass) through a trust and how routine real estates transactions such as refinancing and purchasing out of state property can affect the funding of your trust.

Have that pad and pencil ready!

To listen now, click the play button:

 

Seniors and Wills – Be sure you understand the Will

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(photo courtesy of olavi_s on Flickr)

Having a will drawn up is one of the necessities of life yet many of us either don’t do it or we hurry through it and don’t really understand it’s implications. Once the will is drawn up I think it is necessary to have someone you trust review it. Here’s why…. (more…)