Tag: financial power of attorney

Sandwich Generation Infographic: Statistics and Trends

Sandwich Generation Infographic: Statistics and Trends

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This Sandwich Generation infographic courtesy of caringpeopleinc.com shows the latest statistics of those caring for children and aging parents.

Highlights about the Sandwich Generation

  • 44% of people aged 45-55 have at least one parent still living and at least one child under the age of 21.
  • 66% of senior caregivers are women.
  • 15% of people in their middle ages are financially supporting their parents and children.
  • 84% of caregivers have responded that they are happy or very happy in their role as a caregiver.
  • 21% of Hispanics, mostly women, are caregivers for both their parents and children.
  • Caregivers face personal, financial, and emotional stress in their responsibilities as a caregiver.

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How to Create a Family Information Binder

How to Create a Family Information Binder

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What is the best way to communicate with family members about your medical, financial, and legal documents and information? Create a Family Information Binder.

When my Florida law practice drafted estate planning documents, we would present our clients with a Legal & Financial Family Information Binder. This was a binder where they could put all their estate planning documents and important financial information in one place.

We called it the “911 Binder,” meaning that when you got a call from the hospital, you had one place to go to for the Health Care Power of Attorney. If you needed to go to a bank, you had the Financial Power of Attorney as well as a list of bank accounts and the key to a safety deposit box.

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Estate planning checklist to jump start your estate planning

Estate planning checklist to jump start your estate planning

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Estate planning is critical not only to provide for your loved ones after your death, but also to protect yourself and them while you are alive. If you are suddenly incapacitated, who will take care of your financial, medical, and legal decisions? But how can you put together a comprehensive estate plan? Where do you start? Follow this helpful estate planning checklist to see what to update and what to put on your “to-do” list:

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10 estate planning resolutions to make this year

10 estate planning resolutions to make this year

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As you ring in the new year, consider some estate planning resolutions to protect and provide for loved ones. After all the surprises of the past year, estate planning is now more important than ever. However estate planning may seem burdensome and scary. What should you do? These 10 estate planning resolutions can help you start a comprehensive estate plan.

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Interview on The Income Generation Show

Interview on The Income Generation Show

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Interview with David Scranton on the Income Generation - Air Date 3/7/2019

I was honored to be asked back on the Income Generation Show with David J. Scranton. Although it was a brief interview, we covered many important topics:

  • Why is estate planning important to the “Sandwich Generation”?

  • How estate planning is as important during your life as it is at your death

  • How can you encourage aging parents to get started on their estate planning

  • How to organize legal documents in case of emergency: The 911 Binder

  • Three pieces of advice for estate planning

Click on the above link to watch the clip.

It’s National Estate Planning Awareness Week!

It’s National Estate Planning Awareness Week!

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Did you know October 19 – October 25th, 2020 is National Estate Planning Awareness Week?

Now you do!

Here are some fun facts:

  • National Estate Planning Awareness Week is celebrated in the 3rd week of October.

  • The National Association of Estate Planners & Councils (NAEPC) led the effort to educate people about the importance of estate planning.

  • It was passed by Congress in 2008.

And here are not so fun facts:

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How to choose an estate planning attorney

How to choose an estate planning attorney

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Finally, you want to get your estate plan together. Good for you! Taking steps now will help you and protect your family in the event of your incapacity and death. Once you start the process you will find out it is easier than doing paperwork for a mortgage. But now you have to find an attorney to help you.

But, how do you find the right one? What should you expect?

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What is a Durable Power of Attorney?

What is a Durable Power of Attorney?

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A Durable Power of Attorney, also called a Financial Power of Attorney, is a legal document that allows you to designate another to make all your financial and business decisions. An “agent” is the person you designate to act as your power of attorney, also called “attorney-in-fact.”

You can use a Durable Power of Attorney if you are hospitalized, in a coma, or even just out of the country. A Durable Power of Attorney is not contingent on you being unable to handle the transactions yourself. If you have one or more businesses or private bank accounts, you may want someone to stand in for you to manage your affairs if you can’t.

Other FAQ about durable attorneys

Who should I choose as my agent?

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