Choosing your executor for your will and agents for your powers of attorney is a critical decision. If you name the wrong person, your estate or personal affairs can be irreparably harmed. Also, while you may consider it an honor to be chosen, the warm, fuzzy feelings can quickly vanish once the job begins. Few people are aware of what a chore it can be to handle someone else's affairs. For example, suppose a parent names their oldest son to be their agent under their financial and health care powers of attorney as well as their executor under their will. Following a severe stroke, the son is now responsible for making all future health care and financial decisions. This can potentially last
Although Medicaid is a national program, it is administered by each state. The rules and regulations are complicated and constantly changing (as evidence by the Deficit Reduction Act). Also, the rules often widely vary from state to state. So, its no wonder there are so many myths and misunderstandings surrounding the Medicaid program. This month, we will take a look at some of the common misconceptions we frequently hear about Medicaid. "My mother heard about someone who..." All too often, we meet people who have heard horror stories from well-meaning friends or family members. These stories are often filled with inaccuracies and half-truths that frighten people into making some very bad de
Individuals work a lifetime accumulating assets, personal property and mementos. It only takes a small investment of time to make sure those valued items pass on to your loved ones. If executed correctly, a Last Will and Testament can clearly state your wishes and ensure they are carried out properly. Other important reasons to take the time to prepare a will are: You care about your family and loved ones and you do not want to leave them to figure everything out on their own after your death. By planning, you are conveying the message they are important enough for you to have taken the time to state what your wishes are with respect to your property and assets. People may not die in the or
