Posted on: March 14, 2019 | By: David Parker, Esq.
For many people, their home is the most valuable asset they own. Leaving real estate to your heirs can also be a complicated process, so you'll want to make sure you plan accordingly.
Posted on: March 13, 2019 | By: David Parker, Esq.
Aging parents who need support from adult children do not always have power of attorney documents completed before caregiving begins. Caregiving situations arise from unexpected situations, like an accident in the home or health emergency like a heart attack or stroke.
Posted on: March 11, 2019 | By: David Parker, Esq.
If you die without a will, it can lead to conflict between your surviving loved ones, as they try to figure out how best to divide up your personal belongings and finances.
Imagine that your mom has Alzheimer’s. She calls you one day, out of the blue, saying that she wants to sell the family home. When you ask her where she would live if the family home is gone, she doesn’t seem to have a clear plan. Ten minutes into the call, Mom gets upset with your questions. She declares that she can sell the house without your help and hangs up the phone.
Though complex, existing laws provide people with a pathway to protect their assets, become legally poor and qualify for publicly funded Medicaid to cover nursing home bills.
I am the beneficiary on my father's life estate deed of his home. He passed in October 2018. I am wanting to sell the house and have not filed a warranty deed to put the house in my name. Also, the life estate deed is via power of attorney because my father had Alzheimer's and at the time of the preparation of the life estate deed, would not have been considered able to make such a decision.
For the sake of self-preservation in later life, it is imperative that the 60-and-older population understand the powers that are given away, when signing Power of Attorney (POA) documents.
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