Heisenberg discovered the fact that you cannot measure location and velocity at the same time. This is called the uncertainty principle, and it can seem like a purely scientific thought experiment. At the same time, in a way, it applies to your everyday life when it comes to financial budgeting. You are in a certain place financially right now, and the things that you need cost you a certain amount. However, what about the future? You don't know exactly what your financial position will be, … [Read more...] about Report: Indianapolis Nursing Home Costs Will Rise
Incapacity Planning
Don't Overlook Advance Directives for Health Care
No one is particularly anxious to think about this type of scenario, but the hard truth is that many people become unable to communicate health care decisions late in their lives. When you are planning your estate, you can include an incapacity component to account for this possibility. Your incapacity plan should include advance directives for health care. One of these directives is called a living will. Unlike a last will or last will and testament, a living will does not have anything … [Read more...] about Don't Overlook Advance Directives for Health Care
Free Report: Can I Take Back Assets in a Medicaid Trust?
People who work and pay taxes for any length of time will qualify for Medicare when they reach the age of 65, and just about everyone is aware of this fact of life. When you are younger, you probably don't think much about Medicare, so you may not know all of the facts. It would be natural to assume that Medicare will cover every health care matter that can come your way when you are a senior citizen. In reality, the Medicare program does not pay for long-term care. It will pay for … [Read more...] about Free Report: Can I Take Back Assets in a Medicaid Trust?
Do I Surrender Control When I Create a Power of Attorney?
You are probably aware of the fact that a power of attorney is a legal document that you could use to give someone else the power to make decisions on your behalf that would be legally binding. There are various different reasons why you may want to use a power of attorney when you are fully capable of handling your own affairs. For example, you may be out of the country on business for an extended period of time, and you may give an associate the power to enter into certain business … [Read more...] about Do I Surrender Control When I Create a Power of Attorney?
Why Do I Need a Power of Attorney?
A power of attorney is a legal device that you would use to empower an agent or attorney-in-fact to act on your behalf in a legally binding manner. There are various different reasons why you may want to grant this power, but a specific type of power of attorney is used to account for incapacity. We specialize in estate planning and elder law matters, and incapacity planning is an important part of the equation. People often become unable to make sound decisions on their own at some point in … [Read more...] about Why Do I Need a Power of Attorney?
What Are the Disadvantages of a Power of Attorney?
A power of attorney is a legal document that you can use to give another person the ability to act on your behalf. It can be necessary to grant a power of attorney under some circumstances, but there is an inherent disadvantage that is readily self-evident. It can be disconcerting to allow someone else to act for you, but you are clearly going to name a representative that you trust implicitly. Plus, to protect yourself, you could grant a limited power of attorney. With a … [Read more...] about What Are the Disadvantages of a Power of Attorney?
When Does a Power of Attorney Terminate?
We will examine the matter of termination in this blog post, but before we get into that specific topic, we should explain why powers of attorney are relevant when you are planning your estate. Comprehensive Planning Most people look at estate planning from a purely financial perspective, but you should think comprehensively. When you plan your estate, you should also consider the issues that you may face toward the end of your life. When you look at the facts, you see that people are … [Read more...] about When Does a Power of Attorney Terminate?
What Is the Difference Between SSI and SSDI?
Government programs often have wordy names, so they are shortened to acronyms for convenience purposes. When they are very similar, things can get confusing, so we endeavor to provide clarity from time to time on our blog. With this in mind, we will look at SSI and SSDI in this post. Social Security Disability Insurance The acronym SSDI stands for Social Security Disability Insurance. You become eligible for SSDI coverage through the accumulation of retirement credits. … [Read more...] about What Is the Difference Between SSI and SSDI?
Is Incapacity Planning Really Important?
You may hear about incapacity planning and assume that it is something that applies to others. There will never be a time when you will become unable to handle your own affairs, right? Incapacity is something that only happens to other people. If you feel this way, you should understand the facts. Longevity Lifespans are getting longer as medical science improves. In addition to the advances in science, people are becoming more aware of the value of healthy lifestyle … [Read more...] about Is Incapacity Planning Really Important?
When Does a Power of Attorney Become Effective?
When you create legally binding documents of any kind, you are taking action to accomplish a personal objective. The documents do not call the shots; you are using the documents to satisfy certain goals. With this in mind, we will explain some things about the legal device called the power of attorney. General vs. Limited Power of Attorney When you create a power of attorney, you have options. There are general powers of attorney, and there are limited powers of attorney. The person … [Read more...] about When Does a Power of Attorney Become Effective?
