What Is Power of Attorney? Power of attorney, or POA, allows a person of your choosing to manage your financial or medical affairs if you are unable to do so. without a POA in place, If you become incapacitated, the court will have to appoint a guardian or conservator, which takes time and money. The…
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Difference Between a Revocable Trust and an Irrevocable Trust There are two types of trusts – As clearly expressed in the title of this article. One is called a Revocable Trust, and the other – an Irrevocable trust. So far so good. To easily tell them apart, there is one major difference between the two.…
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What Are Digital Assets? The definition of a digital asset is “anything that exists in binary data which is self-contained, uniquely identifiable, and has a value or ability to use.” Digital assets include but are not exclusive to digital documents, audible content, motion picture, and other relevant digital data that exist on digital appliances such as…
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The last part of the Connecticut Advance Healthcare Directive form includes a section that begins “I hereby make this anatomical gift…” The section includes several boxes to check to make a choice about which organs the person wants to donate and for what reasons…
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As most of you who have purchased a home know, the process to get to the closing date is not always smooth. There are many steps along the way to the closing, including inspections, title searches, and mortgage approval. How Does a Closing Date Work? The Agreement spells out how long the buyer has to…
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MYTH 1: “Medicare Will Pay for Long-Term Care such as an Assisted Living Community or and Nursing Home.”
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What Is Elder Law? Before we dive into the many reasons you need an Elder Law Attorney, let’s first touch base on what Elder Law is. Elder law refers to numerous legal issues specifically affecting elderly people. With age, many issues may surface, from declining health to financial burdens. Seniors face complex legal concerns that…
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Can you gift $10,000 a year without a penalty? For tax purposes yes, with the Gift Tax Exclusion. With the holidays around the corner and the end of the year fast approaching, many of you may be thinking about making gifts for your children and grandchildren. If you want to avoid paying a gift…
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According to the Centers for Disease Control and Prevention (CDC), older adults and people who have severe chronic medical conditions like lung, heart, or kidney disease seem to be at a higher risk for contracting COVID more serious COVID-19 illness. This means that most people with Medicare are at higher risk. According to a Wall…
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FALSE FACTS FRIDAY “My Contingent Beneficiaries Will Inherit My Estate When My Primary Beneficiary Dies.” Although it is quite reasonable to think that your will dictates what happens to your property upon your death, there are some loopholes. Many people think that whatever you leave to your primary beneficiary, your contingent beneficiary will inherit upon…
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