As a family caregiver, we are constantly asked to set aside our own lives and priorities to tend to the needs of a loved one. Over time, this can take a tremendous toll on the caregiver – we can only be stretched so thin. A caregiver who is worn out, burned out and stressed out, is not going to be the best caregiver they can be to their loved one – or themselves for that matter....Read More
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
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
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
An estate plan asks the client to name individuals for a variety of responsibilities – responsibilities that differ from one another and may lead the client to determine that more than one person is best suited to fill each of these roles.
For the client
The executor of a will is responsible for following the directions set forth in the will – in other words,...Read More