Who should I choose to be my agent under a healthcare power of attorney?

Who should I choose to be my agent under a healthcare power of attorney?

One of the questions I get is who should I choose to be my agent under a healthcare power of attorney?

Now, a healthcare power of attorney is a document where you can appoint someone to make health care decisions for you if you are no longer able to manage your day-to-day health care.

Typically, people will choose someone that they know and trust intimately to make those kinds of healthcare decisions. If a couple is married, the spouses will choose the other spouse. If a person has children, that person will typically choose the adult children to make those healthcare decisions.
But even if you don’t have a spouse or children, you probably have friends. And, if you have a close personal friend who you trust to make those kind of healthcare decisions for you, you can appoint that person to make those decisions.

If you don’t have anyone that you’re comfortable with appointing, you could always appoint a professional private fiduciary who is a licensed professional within the state of California, and that person will be able to make healthcare decisions for you if you appoint them. And that person will also be able to make financial decisions for you if you appoint them to make the financial decisions as well.

Quick Question Corner is a video segment where we answer common questions about estate planning and elder law. If you have similar questions, leave them in the comment section and we can feature them in one of our videos in the future.

Is 30 years old too young to do estate planning?

Is 30 years old too young to do estate planning?

One of the questions I get in estate planning is whether 30 years old is too young to do estate planning.

And the answer to this question is no, it’s not too young to do estate planning if you’re 30 years old. Now, doing estate planning is one of the core financial skill sets that’s important for every legal adult to have.

What this means is that once you reach the age of 18, you should have some type of estate planning in place. Even if it’s only a will and a powerof attorney and a healthcare directive, it’s still important to have those documents in place for you.

Once you become older and you start acquiring assets, maybe you purchase a home, maybe you have retirement or savings or investment accounts. It even becomes more important.

In fact, I recommend that everyone18 or older do estate planning.

Quick Question Corner is a video segment where we answer common questions about estate planning and elder law. If you have similar questions, leave them in the comment section and we can feature them in one of our videos in the future.

How will the elderly pay for long-term care?

How will the elderly pay for long-term care?

One of the questions I get is how will the elderly pay for long term care? Now there are three ways to pay for long term care generally.

The first is you pay out of pocket. The second is you have long term care insurance that is triggered or activated. The third is you qualify for a government program.

Now the most common government programs that we help people plan for are medical for long term care or VA aid and attendance.

So this is how people who are elderly can pay for long term care.

Quick Question Corner is a video segment where we answer common questions about estate planning and elder law. If you have similar questions, leave them in the comment section and we can feature them in one of our videos in the future.

Can a nursing home take money from an irrevocable trust?

Can a nursing home take money from an irrevocable trust?

One of the questions I get is, can a nursing home take money from an irrevocable trust?

Now, the important thing to know about trusts, whether they’re revocable or irrevocable, is that the trustee, the person who’s in charge of the assets that are owned by the trust, is responsible for distributing those assets according to what the Trust says. Now, if the person who created the trust is still alive, but is living in a nursing home and is not able to manage the day-to-day financial matters of the trust, then a successor trustee will take over management of the trust.

It’s likely that the trust document will say that as long as the trust maker, the person who created the trust, is still alive, that the trustee is required to use the trust funds for that person’s care. And so the trustee of a trust, whether it’s revocable or irrevocable, can use trust funds to pay for nursing home care for a senior. Now, that doesn’t mean that the nursing home itself can access the funds that are held in an irrevocable trust.

It’s always the responsibility of the trustee to manage those assets.

Quick Question Corner is a video segment where we answer common questions about estate planning and elder law. If you have similar questions, leave them in the comment section and we can feature them in one of our videos in the future.

Who should be responsible for taking care of the elderly?

Who should be responsible for taking care of the elderly?

Now, this is a bit of a philosophical question, but the reality is, in this country we do not have a good social safety net for our seniors and elders. What that means is that if a senior or elder or a family member or a lover, one requires long term care.

Typically, there are only three ways to pay for it. First, you could pay out of pocket. Second, if you have long term care insurance, you can use the long-term care insurance to pay for long term care. Or third, you could get qualified for certain government benefits such as medical or Veterans Administration aid and attendance.

So, this does not really address who should take care of the elderly in our society, but this addresses the issue of how will it be paid for?

Quick Question Corner is a video segment where we answer common questions about estate planning and elder law. If you have similar questions, leave them in the comment section and we can feature them in one of our videos in the future.

Why is it expensive to protect your assets from Medi-Cal?

Why is it expensive to protect your assets from Medi-Cal?

Now it’s important to remember that for medical, for long term care, what we’re typically talking about is skilled nursing care.

Skilled nursing care on average costs more than $12,000 a month in California. And so when you compare the cost of doing foundational and comprehensive elder law planning to the cost of skilled nursing care, elder law planning is actually very reasonably priced. It is typically less than the cost of a single month of skilled nursing care. 

Quick Question Corner is a video segment where we answer common questions about estate planning and elder law. If you have similar questions, leave them in the comment section and we can feature them in one of our videos in the future.

Estate Planning Process: Initial Meeting

Estate Planning Process: Initial Meeting

I’d like to thank you for asking us to help you with your estate planning.

I wanted to send you the short video so that you could have some idea of what to expect for our very first meeting. Before our very first meeting, we’re going to send you a packet of information, and in that packet is a brief questionnaire that we will ask for you to complete in advance of our first meeting. Once we do meet, we’ll have about 45 minutes to an hour to get to know each other.

During that meeting, I’m going to ask you questions about your family, your loved ones, your property, your assets and so on. I’m also going to ask you questions about what your goals and objectives are. That’s very important so that as we continue with our planning, we have your goals and objectives clearly in mind.

At the end of the first meeting, we’re going to have a clear idea of where we’re going. And after that, we’re going to schedule the next meeting, which is the design meeting. I’ll send you some information about the design meeting in another video. For now, thank you again for asking us to help you with your estate planning.

Our Estate Planning Process

Our Estate Planning Process

I’d like to talk to you about our 4-step estate planning process.

Our first meeting is called the Right Fit meeting. During this meeting, we’ll talk about you, your family and your goals and objectives.Then we’ll offer a suggestion of a strategy to deal with your goals and objectives. After this meeting, if you decide to move forward with us, we’ll schedule the next meeting, which is the design meeting.

Our second meeting together is our design meeting. During this meeting, I’ll ask you a lot of questions about how you want your estate to work. I’ll ask you questions such as who you want to inherit your property and how you want them to receive it. I’ll also ask you questions about who you want in the important roles in your estate.

For example:

  • Who do you want tobe the successor trustee of your trust?
  • Who do you want to be the agentunder a durable power of attorney for finances?
  • Who you want to be your health care agent?

These are just some of the questions that I’ll ask you during the design meeting. After the design meeting, we begin to prepare your planned documents. Once we’re done with drafting your documents, we’ll send them to you to review. Then the next step is to schedule the third meeting, which is the review meeting.

Our third meeting together is the review meeting. By this meeting, you should have received drafts ofyour estate planning documents and have gone over them. During the review meeting, we’ll hit the high points of your plan and make sure that we have the right people in the right roles for your plan. We’ll make sure that everything is the way that you want it to be in your plan. We’ll also answer any questions that you may have. Finally, if you have any changes to your plan, let us know and of course, we’ll make those.

Our fourth and final meeting is the signing meeting. By this point, we’ve prepared your documents and we’ve had the review meeting where we’ve gone over everything and make sure that it’s the way that you want it to be. At the signing meeting, you sign the documents.This is done in front of a notary, so please bring your driver’s license or a government issued picture ID. If we’re preparing deeds for you, you will sign the deeds to transfer your home into the trust.

After the signing meeting, you are done with your estate plan. We’ll sign and notarize all the documentsthat need to be signed and notarized. Then we’ll scan the documents and create a USB drive containing PDFs of all of your estate planning documents. We’ll send you your final original estate planning documents in the estate planning binder along with a USB drive containing PDFs of all of your documents. If we’ve prepared a deed for you, we’ll mail the deed to the county recorder so that the deed gets recorded.

This is an overview of our estate planning process. I’m Matthew Crowder, and I look forward to working with you.

Estate Planning vs Elder Law

Estate Planning vs Elder Law

We’re often asked about the difference between estate planning and elder law. The two go hand in hand. One notable similarity is that that they are both more universal than most people think. Estate planning is not only for those with large estates, and elder law is not only for the elderly, but there are also important distinctions between the two.

Let’s talk about estate planning. Estate planning focuses on an individual’s assets, how they should be held while the individual is still living, and how they should be distributed after that person dies. An estate planning attorney can use tax planning strategies to minimize estate taxes. Proper estate planning will also use substitutes for a will to minimize the cost of probate. Of primary importance to many people is the ability to make specific choices regarding who the beneficiaries of the assets are. With the help of an estate planning attorney, an individual can create a plan that reflects the wishes of the person about how his or his property should be distributed upon their death.

Without a proper estate plan in place, assets will be distributed according to the strict requirements in the Probate Code, which may be well different from what the person wants. Additionally, an estate plan and attorney can create a plan that includes protecting the needs of minor children and family members with disabilities so that each family is best provided for according to their unique and individual needs.

Now, let’s talk about Elder Law. Elder Law is a broad field that encompasses many different areas of the law. It’s not just for the elderly, and it can be most effective when it is started before someone reaches an advanced age. Elder law focuses on providing a plan to continue living according to one’s wishes as that person get solder while remaining in good financial standing.

Depending on the individual circumstances, this plan can include trusts, gifts to family members, buying long term care insurance, and qualifying for medical or VA benefits. Elder Law planning also may include many of the estate planning tools, such as trusts and powers of attorney to avoid the needs for conservatorship. The plan could also include medical planning so that the individual can name someone to make health care decisions if that individual can’t anymore. A proper Elder law plan should be a comprehensive holistic plan, taking into account the specific needs of the individual and his or her needs as they age.

Now, attorneys practicing in the fields of estate planning and elder law share a common goal to help their clients achieve their wishes while protecting their property and assets for themselves and their loved ones. It is important to reach out to a qualified elder care and a state planning attorney for ensuring that you have plans for your future. My name is Matthew Kreider, and thank you for watching.

Mentor’s Advice: Just Do It!

Mentor’s Advice: Just Do It!

You should just do it. I wanted to share with you some advice that I got from one of my mentors. And this is probably the biggest piece of advice that I’ve ever received. The piece of advice I received is to get started.

Now, I know in estate planning, the biggest issue that I see is people who just don’t do their estate planning. They procrastinate. They put it off month to month or year to year.

And I wanted to talk to you about a story. One of my family friends was talking with me one day, and she was telling me about a cousin of hers who wanted to go to law school. The problem, however, was that he was 40, and he felt that he was too old to go to law school. That law school is three years if you go straight through fulltime. If you go part time, it could be five or six years.

And she asked him a very direct question, and that question was, if you don’t go to law school, how old will you be in five years? Well, of course, the answer was that he would be 45 years old regardless of whether he went to law school or not. And so the point is that he should have just gone through with it if that was one of his goals and dreams.

One of my favorite quotes comes from musician Henry Rollins, and he says, there’s no such thing as downtime. There’s no such thing as free time. There’s no such thing as spare time. The only thing we have is lifetime. And that’s very true, because none of us really know when we might die and pass away. We can plan for it. We can hope for a ripe old age. We could hope for a long retirement. But the fact is that none of us know when we will pass away.

Another one of my favorite quotes comes from the actor Anthony Hopkins, and he said, to paraphrase, that none of us are getting out of here alive, so treat yourself well, because there’s no time for anything else. And so here’s what I’d like you to do. I would like you to commit and take action.

And there are two simple things that I would ask for you to do now. The first is to download our free guide, the “10 Most Gruesome Estate Planning Mistakes” and read it. This will give you some insight into what I see as the ten most common mistakes that people commit with their estate planning.

The second thing that I would ask for you to do is use the link to schedule your initial meeting about estate planning. We call this our Right Fit meeting. And this is where we can sit down, we can talk and discuss what your concerns are, what your goals are, and figure out what the best path for you and your loved ones. So to borrow a marketing phrase, you should just do it. You should just get started.

Davis

750 F Street, Suite 2,
Davis, CA 95616.

530–231-5161

Sacramento

333 University Ave Suite 200 Sacramento CA 95825

916–229-8844

Roseville

3017 Douglas Boulevard Suite 300 Roseville CA 95616

916–229-8844

Serving the California Central Valley - Yolo County: Davis, Woodland, West Sacramento, Winters, Yolo, Knights Landing, Dunnigan, Guinda, Madison, Sacramento County: Sacramento, Citrus Heights, Elk Grove, Folsom, Rancho Cordova, Galt, Isleton, Antelope, Elverta, Laguna, Herald, Hood, Orangevale, Carmichael, Solano County: Fairfield, Vacaville, Vallejo, Suisun City, Benicia, Dixon, Rio Vista, Birds Landing, Rockville, Allendale, Placer County: Roseville, Auburn, Rocklin, Lincoln, Loomis, Colfax, Newcastle, Penryn, Alta, Dutch Flat, Carnelian Bay, Weimar, Sheridan
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