My father named my mother, then me as his attorney-in-facts in a financial power of attorney. Both my parents are now in care facilities and not competent. Am I automatically in charge or does something more need to be done? That depends on the terms set forth in the document itself, but even if no…
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Life Estate Deeds
What is a life estate deed? The short answer is a life estate deed separates ownership of real property between two different parties. Often, but not always, the parties are the parents or one parent, and a child or more than one child, and sometimes grandchildren. One party gets life time use of the property…
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Discussing Long Term Care with Parents
Things are changing for my parents and I feel I need to address early care and monetary issues with my siblings when they visit from out of state at Christmas. How do I begin? I am a big advocate for elders maintaining independence and acting on their own as long as possible. However, some elders…
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Trust Administration
What should I know before I agree to administer a trust? The most important aspects of administering trusts are organizational skills and record keeping. Basically you need to track every dollar coming in and going out of the trust and make sure it goes to the right person at the right time. Whether you feel…
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