Power of Attorney

Prince George Citizen has recently published an article entitled, "The Cost of an Unprepared Estate" (Oct 17, 2016). Provided below is a brief summary to the article:

The Cost of an Unprepared Estate

British Columbia has more people turning 50 years old today than at any other time in history.

According to the Kaiser Health News Webinar "Who Are America's Caregivers? Nearly A Quarter Are Millennials" the commonly held belief that Baby Boomers are the only ones caring for older relatives is failing to consider the the role Millennials are taking on in the estimated $470 billion worth of work:

"Caring for older relatives is usually a task associated with Baby Boomers, the 50- and 60-somethings who find their aging parents need assistance. But almost a quarter of the adults who take care of older people — on top of their regular jobs and responsibilities — are between the ages of 18 and 34... About 40 million Americans considered themselves caregivers in 2013…[t]hose people are typically women, and their median age is 49. The work they do caring for older relatives…was estimated that same year to be worth about $470 billion.”

Source/more: Kaiser Health News

There are certain considerations that should be kept in mind for those with chronic illnesses.   Before addressing this issue, there should be some clarification as to the definition of "chronically ill." There are at least two definitions of chronically ill. The first is likely the most common meaning, which is an illness that a person may live with for many years. Diseases such as diabetes, cardiovascular disease, lupus, multiple sclerosis, hepatitis C and asthma are some of the more familiar chronic illnesses. Contrast that with a legal definition of chronic illness which usually means that the person is unable to perform at least two activities of daily living such as eating, toileting, transferring, bathing and dressing, or requires considerable supervision to protect from crisis relating to health and safety due to severe impairment concerning mind, or having a level of disability similar to that determined by the Social Security Administration for disability benefits. Having said all of that, the estate planning such a person may undertake will likely be similar to that of a healthy person, but there will likely be a higher sense of urgency and it will be much more "real" and less "hypothetical."

Most healthy individuals view the estate planning they establish as not having any applicability for years, perhaps even decades. Whereas a chronically ill person more acutely appreciates that the planning he or she does will have real consequences in his or her life and the life of loved ones. Some of the most important planning will center around who the person appoints as his or her health care decision maker and also who is appointed to handle financial affairs. a will and/or revocable living trust will play a central role in the person's planning as well.  Care should also be taken to address possible Medicaid planning benefits.  A consultation with an estate planning and elder law attorney is critical to ensuring all necessary planning steps are contemplated and eventually implemented. 

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Fran Hawthorne (NYTimes.com) has an article published entitled “When Boomers Inherit, Complications May Follow” (Feb10, 2014). Provided below is a summary of the article from NYTimes.com:

When Boomers Inherit, Complications May Follow

There have never been as many heirs with as much money as now, thanks to the intersection of two demographics: the 79 million baby boomers and the general thriftiness of their Depression-raised parents.

"Inherited money is sacred money," said Rick Kagawa, 61, a financial planner in California who inherited money and property when his mother died in 2010.

"Whatever you do with that money, you should think about your parents and what they would think of what you did."

Often, as with Ms. Cornell, emotional ties make heirs reluctant to alter a penny of their parents' investment strategy or shed a single inch of property.

"We've had clients who wanted to keep a stock that was part of the family's wealth in memory of their parents, even if it's causing a lack of diversification in the portfolio," said Charles D. Haines Jr., chief executive of Kinsight, a financial advisory firm based in Birmingham, Ala., with $500 million under management.

Ms. Bradley of the Sudden Money Institute suggests that instead of trying to memorialize parents by hanging onto their stock portfolio, offspring should "Do something with the money to create a lasting memory." One client, she said, uses the interest from her inheritance to host an annual family reunion.

A picture caption on Tuesday with an article about baby boomers' inheriting their parents' estates misstated the name of the university where the photograph of a Japanese garden was taken.

To read the full article go to "When Boomers Inherit, Complications May Follow" By Fran Hawthorne (NYTimes.com).  

Caitlin Kelly (NYTimes.com) has published an article entitled “In Estate Planning, Family Isn't Always First” (May 02, 2014). Provided below is a summary of the article from NYTimes.com:

In Estate Planning, Family Isn't Always First

For older people without children, stepchildren or grandchildren, the decision can be even more complex.

"Our family didn't think of anything but leaving everything to us. The concept of estate planning didn't exist in my parents' lives," said Mr. Carter, who has 40 years' experience as a consultant in philanthropy and fund-raising.

Today, with smaller families and more women choosing not to have children, "The dynamic has changed pretty significantly for the generation of baby boomers. The option of doing something charitably significant with their estates is a change," he said.

Ms. Miranda, a former bank trust officer, now specializes in helping clients plan their wills, trusts and estates.

Mr. Carter said: "My wife and I are planning to give everything away. My kids are O.K." Too often, he says, anticipating inherited wealth creates fighting within the family or can kill or inhibit adult children's ambitions.

"I'm planning on leaving most of my estate to my nephew, who is currently 15," says Meredith Lesley, 58, a Lexington, Mass., resident who is divorced and has no children.

"I may leave a smallish portion to my longtime roommate, who is disabled and has nothing but his monthly disability check and no one else in his life. It's not a romantic relationship, but he's lived here for about 10 years. I also have to figure out what to do about my cat. And I have to think about my things: beads to a friend who is a crafter as well; books to my best friend; ceramics to him as well; electronics to my brother, my nephew's father."

To read the full article go to "In Estate Planning, Family Isn't Always First" By Fran Hawthorne (NYTimes.com).  

Lewis Saret (Forbes.com) has published an article entitled “Eight Common Estate Planning Objectives Of Married Couples” (May 13, 2014). Provided below is a summary of the article from Forbes.com:

Eight Common Estate Planing Objectives Of Married Couples

If you asked 10 different couples what their estate planning objectives are, you would probably receive 10 different answers.

Upon deeper probing, you would discover that most married couples share the same basic estate planning objectives.

Knowing these objectives help both the couple and their estate planner determine what might be the best way to structure their estate plan. 

The most important estate planning objective for most married couples is to ensure that their loved ones are provided for if one or both spouses become incapacitated or pass away.

To accomplish a couple's estate planning objectives in a cost-effective manner inherently requires that future expenses be taken into consideration as well as the cost and time spent implementing the estate plan.

To read the 8 Common Estate Planning Objectives go to "Eight Common Estate Planning Objectives Of Married Couples" By Lewis Saret (Forbes.com).  

The Americans with Disabilities Act (ADA), signed into law in 1990, recognized the civil rights of a large class of citizens with physical and mental disabilities by making it illegal to discriminate against them in employment, transportation or public services and accommodations. Since its enactment, much progress has been made, enabling people with disabilities to obtain an education, pursue a career, live independent lives and fulfill their dreams. 

Despite this progress, people with disabilities who have children are more likely to have their parental rights terminated or lose custody after a divorce. 

Discrimination in the Courts

These discriminatory actions are often justified on the grounds that the courts are protecting the best interests of the child, but there is little research to support the assumption that someone who is disabled is incapable of being a good parent. In fact, according to advocacy groups there are likely more than 4 million parents with physical disabilities currently raising children. 

Most family courts work diligently to provide services and support to ensure that children maintain contact with their parents whenever possible. This is not always the case when disability is involved. There have been cases where disabled parents have not been allowed to bring their newborns home and the state subsequently filed to have their parental rights revoked, even in the absence of evidence of abuse or maltreatment. The presumption is that the disability endangers the welfare of the child. Currently, two thirds of the states have laws permitting the removal of children based on the disabled status of the parent.

Disadvantage in Custody Cases

Parents with disabilities are also at a disadvantage in custody cases, particularly if the ex-spouse does not have a disability. Competent parents with special disabilities require knowledgeable advocates who can demonstrate that they are able to effectively carry out their parenting duties in their own adaptive ways.

Fighting Discriminatory Practices

Advocates for the legal rights of parents with disabilities are waiting for a landmark trial that halts the discrimination suffered by parents with disabilities and protects their rights to have and raise children. While everyone agrees that children should not be exposed to a hazardous environment, decisions to remove children from homes where a parent is deaf or has a low IQ are often made by individuals who fail to grasp the remarkable capabilities of such parents despite their significant handicaps. More education on disability issues is needed at all levels of the child welfare and family court systems. At the same time, parents with disabilities must have better access to fair legal representation and support services. 

The Tampa Tribune has published an editorial article entitled “Editorial: Confronting Alzheimer's Horrors” (June 26, 2014). Provided below is a summary of the article from TBO.com.

Alzheimer’s Horrors

Gov. Rick Scott and state lawmakers launched an Alzheimer’s research program with $3 million available for research this year, however this represents just a fraction of what is needed to combat a disease that robs individuals of their memory and one that creates enormous hardships and expenses for family members.

Statistics show that one in 40 Floridians suffers from Alzheimer’s, the state currently holds 10% of the U.S total of 5.4 million individuals suffering from this disease. The number of Alzheimer cases in Florida is expected to grow 40% by the year 2025.

The cost in the state of Florida for dementia is estimated to be more than $15 billion. A study last year found that the cost range for dementia was from $157 billion to $215 billion a year, which is more than the costs of cancer or heart disease.

David Morgan, CEO of USF Health Byrd Alzheimer’s Institute in Tampa says “Alzheimer’s research is an investment that will save us from the growing astronomical costs of this disease on Florida’s families and the state’s economy.”

To read the full article go to "Editorial: Confronting Alzheimer's Horrors" from The Tampa Tribune.  

Week 4: Free Power of Attorney and Declaration of Preneed Guardian¹

The first 4 active duty and/or reserved military members who contact the LegalJourney Law Firm using the "Contact the Firm" option on www.legaljourney.com will receive a free Florida Power of Attorney and a free Florida Declaration of Preneed Guardian.

The LegalJourney Law Firm’s Week 4 offer includes: an interview with an attorney, a customized power of attorney, a customized declaration of preneed guardian and notarization² of your documents.

To find out additional details, please contact the LegalJourney Law Firm PLLC

¹This offer is available until close of business May 30, 2013.

²Notarization is only available to residents of the Tampa Bay Area

Week 3: Free Online Will Based Estate Plan Package¹

The LegalJourney Law Firm is providing a free “Online Will Based Estate Plan Package” for the first 2 active duty and/or reserved military members who sign up for a new client account via the online legal services link at www.legaljourney.com. 

To set up a free online account:

1.     Go to www.legaljourney.com;

2.     Select “Click Here For Online Legal Services”;

3.     Select “Register for a New Online Legal Services Account today!"

Create a user account and you will be notified within 24 hours if you will be a recipient of todays offer.

The LegalJourney Law Firm’s Online Will based Estate Plan Package includes: a Will, a Living Will, Health Care Power of Attorney, HIPPA Authorization and Durable Power of Attorney.

To find out additional details, please contact the LegalJourney Law Firm PLLC

¹This offer is available until close of business May 23, 2014.

Day 5: Free Online Power of Attorney¹

The LegalJourney Law Firm will provide a free “Online Power of Attorney” for the first 4 mother's who sign up for a new online client account via the online legal services link on www.legaljourney.com.

To set up a free online account:

1.     Go to www.legaljourney.com;

2.     Select “Click Here For Online Legal Services”;

3.     Select “Register for a New Online Legal Services Account today!"

Create a user account and you will be notified within 24 hours if you will be a recipient of todays offer.

Every mother who connects with the LegalJourney Law Firm PLLC via the LegalJourney Blog, LinkedIn, Twitter, and/or Facebook during the month of May will receive 10% off any online legal service.

Florida Statute Section 709.2101 through 709.2402 (effective date October 1, 2011): Although still effective, everyone with a Power of Attorney (POA) created prior to October 1, 2011 should discuss his or her options with a knowledgeable estate-planning attorney. Issues have arisen in the past with financial institutions not accepting POAs or requiring their specific form to be signed. However, for POAs created under the new Statute, per section 709.2120, F.S., a third person is required to accept or reject a POA within a reasonable time and is not allowed to require an additional or a different POA for authority granted in the present POA. If the third person rejects a POA under the new Statute, they could be held liable for damages and attorney fees.

¹This offer is available until close of business May 16, 2014.