The Importance of a Well-Written Estate Plan – The McNamara Law Firm, PC

The following story happens all too frequently: Husband and wife have been married 50-ish years, and have adult children. Their estate plan documents were prepared by a paralegal service (or on-line company, or by an insurance representative – you get the picture). At the time, the couple felt that working with a qualified attorney was too expensive.
Some years later, husband (or wife) fell victim to Alzheimer’s disease (or stroke, Parkinson’s, etc.) and is now in a care facility. The costs are staggering – upwards of $7,000.00/mo. for a nearby “care home”, and upwards of $14,000.00/mo. for a skilled nursing facility.
The “well spouse” contacts our office to see what options are available, as the care is unaffordable. In reviewing the legal documents, I find that their poorly written trust has significant problems and legal contradictions, and the house (main asset) was NOT funded in the trust, but remains in joint tenancy.
Although there are options to provide care, fix the problems, and reduce care costs, we cannot pursue those options because the ill spouse is incapacitated and therefore cannot consent or sign documents. The well spouse cannot act for the ill spouse, since legal authority is not provided in the poorly written documents. If proper estate planning documents had been prepared, we could proceed, having the spouse act as Power of Attorney for the ill spouse. However, as we do not have the powers needed in the legal documents, we cannot move forward. Instead, a judge must be involved – at significant expense and unknown outcome.
It is critically important that proper estate planning documents are prepared by experienced attorneys – there is too much at stake to cut corners.
For an appointment, please call the McNamara Law Firm at (661) 287-3260 or visit www.theMcNamaraLawFirm.com.