One of the more difficult calls I receive begins with a variation of the same question: “My mother is paying thousands of dollars every month for care. How long does she have to keep doing this before Medi-Cal will help?” Sometimes the family has already been told that Mom has too much money to qualify
Gathering with the family for a Fourth of July celebration is a heartwarming time for the family’s oldest members. It’s a day to celebrate our great nation’s independence, but also a time to take a long look at the generations of the family gathered around the table, making you proud and hopeful for the future.
America’s independence was not easily won. There was no guarantee the fledgling colonies would win, but they fought long and hard and, as a result, every July 4th we celebrate our nation’s independence. If there is a young adult in your life, you know they’re often fighting in their own way to declare their independence.
As you age, it is important to have your affairs in order to ensure peace of mind for you and your family. Several documents need to be in place to help your family know and carry out your wishes.
One essential component of your financial plan involves designating power of attorney to someone you trust, in case you are incapacitated or unable to complete a task on your own.
Who will make decisions about your finances and health (maybe even your life) if you get COVID-19?
Under Illinois law, an individual holding a power of attorney is a fiduciary as a matter of law. The person designated as a power of attorney agent owes a fiduciary duty to the principal—the person making the designation.
Has a loved one named you their financial power of attorney? Are you ready to take on all the responsibilities that entails? Hopefully, you won’t be called into action anytime soon, but with the coronavirus pandemic continuing, it’s something to think about.
Nobody likes to think about their own mortality, and that’s why so many people go without basic estate planning documents. Often, an event like the coronavirus can be the kick in the pants you need to get your affairs in order.
The number of unmarried couples who live together reached 18 million in 2016, a 29% jump from 14 million in 2007. Among adults age 50 and older, the increase was 75%: About four million were cohabiting in 2016, up from 2.3 million in 2007.
