“Getting Affairs In Order”

I frequently meet with people who are struggling with the demands of caring for an elderly or deceased family member, usually a parent. The difficulty is often intensified because affairs were not “in order” before death or incapacity. What does “getting affairs in order” really mean? Basically, it means making it easier for a trusted loved one to manage your money and healthcare decisions, if you are unable to. Here are a few things to think about:
Who will the bank legally recognize to pay your bills if you cannot? Is that person a joint owner, a Trustee, or an Agent under a Durable Power of Attorney? Different rules apply to each.
Are there beneficiaries listed on your life insurance, IRAs, annuities, and any qualified retirement account?
If you have a house or real estate, is the deed properly titled in the name of your trust? Are other assets properly titled in your trust?
Is your Durable Power of Attorney document updated? Have you named “Agents” to handle affairs if you unable? Stroke, accidents, and illness often occur without warning. Also, is your document effective immediately, or only effective if one or two doctors state in writing you are incapacitated?
Does your Advance Healthcare Directive properly set forth your wishes, and name a trusted person as your medical Advocate/Agent? Do you have a HIPAA release so named individuals can legally obtain medical and treatment information?
It is important to get your “affairs in order” by a qualified attorney who understands real world issues and potential difficulties, so your family members will not need to struggle over your affairs in the future.
For an appointment, please call the McNamara Law Firm at (661) 287-3260 or visit www.theMcNamaraLawFirm.com.