What is a Power of Attorney?
A Power of Attorney (POA) document allows you to choose someone to make health care or financial decisions for you in the event that you cannot make those decisions yourself. When is a POA needed? It could be needed in many situations, but here you will see just a couple. A POA is needed by a disabled individual when he/she reaches the age of 18, since he/she is a legal adult at this point. Parents cannot make decisions any longer unless they are named on the POA document. Any adult could need a POA in the event he/she has to have surgery, gets sick, or is in an accident. Someone might need to pay bills or make other important decisions for that adult. Contact Crane Elder Law Firm for a 15-minute consultation to discuss your situation
Are You Recently Divorced?
Divorce can have a major impact on your estate plan. Do not put off updating documents that have your former spouse listed on them. Is your former spouse listed as your power of attorney for health care? Do you really want him/her making those decisions for you? What about your home – is your former spouse listed to receive the property if you pass away? You should also think about updating beneficiaries for life insurance, retirement accounts, investment accounts, etc. Contact Crane Elder Law Firm for a 15-minute consultation to discuss your situation.
Why You Might Want to Put Your House in a Trust
When you transfer property to a trust, the trust as an entity, rather than you as an individual, has ownership of it. The property is protected from creditors. Property in a trust does not go through the probate process, saving time and money. And, property in a trust is private. You can leave your assets in any proportion to any individual, charity, etc. without anyone’s scrutiny. Contact Crane Elder Law Firm for a 15-minute consultation to discuss your situation.
Do You Have a Family Member With Special Needs?
A special needs trust can enhance the life of your loved one by protecting assets for his/her benefit, while preserving their eligibility for Medicaid and Supplemental Security Income (SSI). Crane Elder Law Firm would be happy to discuss your individual situation during a free 15-minute consultation.
What Does Estate Planning Mean to You?
Is it deciding who gets your assets upon your passing? Have you ever thought about how the assets are distributed to your heirs? What if you have reasons for leaving different shares to different people? What if you have an heir who is a spendthrift and you want to be sure that the assets you leave him/her are not squandered? Contact Crane Elder Law Firm for a 15-minute consultation to discuss your situation.