Save Your Estate

Why should the government or anyone else direct what happens with your estate assets? Why should a court, a stranger, or someone other than your choice make the medical and financial decisions for you if you become sick and incapacitated? Why should anyone other than your spouse, life partner, or the one you choose make the decisions about your illness, hospital visits, your funeral and what happens to your estate?

Wednesday, March 27, 2013

Power of Attorney Prevents Court Battles for Guardianship


Too Late....


Here's a scenario that some family members sadly face: They contact their estate planning attorney to explain that an elderly relative is no longer able to care for himself or herself. Perhaps the family members just went to visit the loved one and found filthy living conditions, bills piled up, and little food in the home.
"We want to be able to help," they tell the attorney. "What can we do?"

The attorney asks: "Do you have a power of attorney so you can handle financial matters or a power of attorney or health care proxy so you can make medical decisions?"

Unfortunately, the elderly relative never got around to executing those documents.

Because no one has a power of attorney or health care proxy, the family can turn to a court to have someone appointed as a guardian. (In some states, guardians are called "guardians of the person" and handle personal issues or "conservators" to handle financial issues.) If desired, there can be more than one person appointed -- one to handle financial matters and another to handle health care issues.
But the guardianship process can be time consuming, contentious, and expensive. It should be seen as a last resort.

If the elderly relative only had a durable power of attorney.....


Call Ronald J. Cappuccio, J.D., LL.M.(Tax) at 856 665-2121

Sunday, March 24, 2013

Durable Power of Attorney and Living Will


Documents to Plan Ahead

A durable power of attorney is legal document that enables one individual to designate another person to act on his or her behalf in the event the individual becomes disabled or incapacitated.

A financial power of attorney allows an individual to make decisions such as paying bills, handling investments and filing tax returns.
A power of attorney for health care, or a health care proxy, designates someone to make medical decisions for you if you are unable to do so.
A living will specifies which life-prolonging measures an individual does, and does not, want to be taken if he or she becomes terminally ill or incapacitated. These written instructions are made while an individual is still competent.

Please call Ronald J. Cappuccio, J.D., LL.M.(Tax) at 856 665-2121 to review this.