How much is your brother’s relationship to you worth? You get some unsettling news. It appears that your brother, who you trusted to look after your elderly parent’s finances, may have been helping himself to a significant amount of unauthorized cash withdrawals from your parent’s account by misusing the power of attorney that was entrusted…
Here is a notion that you might not be comfortable with. Today, more than ever, your children are including inheritances on their financial statements. “But, how could that be??”, you ask… “I’ve never discussed my net worth with my kids.” “How would they know what I have?” Trust me, even if you never discussed…
A Truly Novel Concept- A family discussion about inheritances and eldercare decisions… O.k., you’ve been putting off the decision for years. But, the time has come. You’ve finally decided to get serious about creating an estate plan with your family. You even have a name of a good estate planner from a friend of yours…
Please don’t use your estate plan to send your kids the wrong message. Let’s say you have two children. On the one hand, you have a wonderful daughter who is a very successful investment banker, and makes a very good living. You and she both know that she does not need one dime of your…
Disinheritance – the final curtain. Please consider these words very carefully. Disinheriting a child is a deep and hurtful pain that is never forgotten or forgiven. The act is a lowering of a final curtain, that can never be raised again. So, take a long pause… and seriously consider if a total disinheritance of a…
Can your children work together as your fiduciaries? You have two wonderful grown-up children. They are both accomplished in their career fields, with wonderful families of their own. They are dutiful, and make sure to call and visit you all of the time. So when it comes to selecting the fiduciaries who will handle your…
Durable power of attorney abuse. As the saying goes, “With great power comes great responsibility.” No truer statement could be made about the power you grant your agent/attorney-in-fact in a durable power of attorney. Make no mistake about it, a durable power of attorney is a very powerful document. It essentially allows a person to…
Emergency, Emergency, Emergency!!!! Here’s a bit of good advice for you to know when it comes to dealing with live-in-caregivers. Count on, and I mean really count on, the fact that you will be hit up for a loan by a caregiver. Now, the good news is that this won’t happen right away. It will…
Here is a red flag for you to watch out for when it comes to elder abuse… Let’s say that after a painstaking search process, you have finally found a wonderful live-in caregiver to take care of your elderly father. You put the two of them together, holding your breath, hoping everything will work out…
According to the Center for Disease Control, a person’s average life expectancy these days is approximately 78 years. That is a 10 year increase from a life expectancy of only 68 years in 1970, and a 5 year increase from 1990. That is great news, and all of us hope and pray that these numbers…
Remember inheritance is poison, it does not matter if you have a lot of it, or a little of it– it’s poisonous. Picture this, a father passes away with three children. His entire legacy is a watch he always wore, and a gold money-clip. All three kids associate these items with their late father, and…
One of the biggest myths out there is that leaving an estate equally amongst children will prevent family fallouts. In life, as with estates, equal rarely means equal. Let’s start with this scenario. A mother leaves her estate equally to her two sons. The mother signs her estate planning documents with a feeling of great…
Inheritance is truly poison, and I hope that this blog will help to be an antidote that can save your family from it. I created this blog because I am tired of seeing awesome, wholesome, and wonderful families destroy themselves over inheritances and eldercare issues. Parents work too hard, and invest too much in their…
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