Here’s an idea that sounds better than it is: Put childrens’ names on the parent’s bank account. That way, children can sign checks if parents can’t pay bills when they become ill. When the parents pass, the money goes directly to the children with no court involved. Simple.
Simple does not mean good, however. Joint bank accounts are owned equally by all who are named on the account. All can...Read More
Meet Charlie, a 72-year-old Vietnam veteran. All of Charlie’s life, he’s done everything on his own and rarely accepts help from others, even more rarely will you find him admitting he needs help. He is stubborn as a mule and strong in his convictions, chiefly of which is his sense of pride in taking care of his family and himself with no assistance. However, his daughter, Lisa has begun to...Read More
What is Alzheimer’s Disease?
Alzheimer’s disease is defined as an irreversible, progressive mental deterioration that can occur in middle or old age. It is the most common form of dementia.
What causes Alzheimer’s Disease?
Alzheimer’s disease is caused by a generalized deterioration of the brain. The disease is caused by a combination of factors, including genetic, lifestyle, and environmental...Read More
Senior adults can be more susceptible to identity theft than others. Identity theft is a crime that is on the rise. It involves a criminal stealing personal identifying information to create a new identity or to steal money from the victim. Senior adults are targeted for a few reasons. One reason is that they often have more money saved after a lifetime of working than younger people. Another...Read More
Most of us don’t like to think about the possibility of something harmful happening to us or a loved one. Because of this, we rarely think about how to protect ourselves and our loved ones if the worst were to happen. However, just as it is important to buy home insurance to protect your home and auto insurance to protect your vehicle, every individual should have an advanced care directive to...Read More
Estate planning is important for people of all ages, but as we age, the need for planning becomes even more critical. Many people avoid estate planning, because they do not want to think about the end of life, failing health or disability. Others believe that an estate plan is only for rich people. However, an estate plan is helpful for the senior adult and their families regardless of overall...Read More
What is a guardianship?
A guardianship is usually defined as a protective legal proceeding for someone who is incapacitated and unable to manage his/her own affairs. Incapacitated means that the elder is no longer able to receive and evaluate information and communicate decisions. This usually applies to the ability to make financial decisions or care-related decisions.
When is a guardianship...Read More
As the holidays approach, many of us will be traveling to visit family we have not seen in awhile. This family may be our aging parents or our children who have started families of their own. For others, there will be family celebrations with those who we see everyday – because they live with us. More and more families find themselves in the latter category. A recent Wall Street...Read More
The Texas legislature created a standard, statutory form for the durable power of attorney. This is also known as a Financial Power of Attorney. This document, along with a Medical Power of Attorney, addresses circumstances when an individual is unable to make decisions for themselves. Individuals who execute these documents help their families avoid spending the time, money and energy to...Read More
Individuals planning for incapacity seek out people they trust to handle their affairs when they are unable. This can be done by naming an agent under a statutory durable power of attorney which is also referred to as a financial power of attorney. Usually, these people chosen to act as agents for the incapacitated individuals are family members or close friends. The agent may also be...Read More