Elder law lawyers at Nirenstein, Horowitz & Associates can assist you with the creation of a power of attorney that will give you more control in case something happens to you. Unfortunately, everyone is at risk of suffering a medical emergency at any time that makes them unable to control their own assets or make [ ] The post What is a Springing Power of Attorney? appeared first on Nirenstein, Horowitz & Associates P.C..
A durable power of attorney (POA) is an important tool used for incapacity planning because the power of attorney can give you control over who acts for you when a physical or mental illness prevents you from acting on your own. If you create a durable power of attorney, you get to make a choice [ ] The post How to Create a Durable Power of Attorney appeared first on Nirenstein, Horowitz & Associates P.C..
To be comprehensively prepared for the eventualities of aging, you should consider the possibility of future incapacity. While this may not be the most pleasant subject to address, it is important to take action to protect yourself, because incapacity is quite common among elder Americans. Understand the Facts When you are capable of making your own decisions all of your life, it may be hard to imagine a time when you can no longer handle your own affairs. This is understandable, but as life goes on, you encounter different contingencies. Once you understand the facts, you will see why incapacity planning is so important. Many people become physically incapacitated prior to passing away. This period can be relatively brief, or it can be quite extended. During this interim, someone is going to have to handle your financial and health care decision-making. There is also the matter of mental incapacitation due to dementia. There are other causes of dementia, but Alzheimer s disease is th
A well-constructed estate plan will be comprehensive in nature. Everyone is aware of the fact that you have to facilitate asset transfers when you put an estate plan in place, but you should also account for end-of-life issues. This is often done through the creation of documents called durable powers of attorney. Incapacity Planning When you think about your retirement years, some good times may enter your imagination, and your retirement years can be quite rewarding if you plan ahead effectively. At the same time, as difficult as it may be to consider, a very significant percentage of elders become unable to make sound decisions at some point in time. There are various different causes of incapacity. People sometimes become unable to communicate when they are experiencing physical decline, and there is also mental incapacitation. Alzheimer s disease is all too common among the oldest old. This disease strikes over 40 percent of people who are at least 85, and it is likely that you w