end of life planning

Selling a House for a Loved One With Dementia

Many people find themselves in the challenging position of having to sell a loved one’s home to pay for that person’s medical care. While this is a difficult ordeal regardless of your loved one’s condition, selling a home becomes even more complex if a loved one is suffering from dementia or mentally incapacitated. To better prepare individuals who find themselves in such a situation, the following reviews critical details that caregivers should appreciate before taking steps to sell their loved one’s home. Can a Person With Dementia Sell Their Home? Only the individual who owns a home can transfer the house to a buyer. If an elderly person has become incapacitated, that individual must appoint someone else through the terms of a durable power of attorney document to act on the individual’s behalf before a sale can occur. If a caregiver or family member has no legal authority through the proper estate planning tools to do so, this individual cannot sell the home. Selling a Parent’s Home When You Have Power of Attorney The authorizations in a power of attorney document distinguish what a person can and cannot do. Many financial power of attorney documents grant an agent the broad [...]

2020-10-17T19:43:17+00:00Tags: , , , , |

Estate Planning Following a Cancer Diagnosis

A cancer diagnosis will greatly impact every aspect of your life, including finances, insurance coverage, and estate planning. While you may have put your estate plan together prior to receiving a cancer diagnosis, not everyone has done so. If that is the case, the following are some considerations for putting together a plan or altering your existing plan after a cancer diagnosis.  Learn as Much as Possible About What the Future Could Hold Following a cancer diagnosis, many people feel overwhelmed by the amount of information they receive. Despite this, it is important during this difficult time to ask a number of important questions to get a better understanding of your financial future. Once treatment for the cancer begins, many people discover that they have neither the time nor energy to address these issues. Some of the questions that you should ask include how much of your treatment will be covered by insurance and whether a loved one will act as a care manager or whether you will be the one tasked with handling these issues. Provide Your Estate Planning Lawyer With Adequate Details Many of the details involved with a cancer diagnosis can be difficult to share with others. [...]

2019-08-19T15:28:35+00:00Tags: , , , |