Depending on their medical condition, persons with dementia are often capable of making their own decisions regarding legal aspects, such as advance care planning.
If your beneficiary designations are out of date and you die without updating those designations, your assets could go the wrong people–a former spouse, for example–no matter what your will says.
If you haven’t had any experience with guardianship for adults with dementia, it’s likely you don’t understand just how complex it is. You are not alone.
Safeguarding legal documents and providing access to this information is a big consideration in your caregiving plan.
Equally sharing the wealth among the children isn’t always fair, such as when one sibling is the primary caretaker, or another is already wealthy.
In simple terms, a residuary estate is any part of your estate that hasn’t been distributed to your heirs through a last will and testament.
Without a power of attorney, your spouse, children or friends will probably have to petition the court to step in on your behalf.
As the American population of seniors continues to expand, the need for intentional estate planning becomes more urgent, especially for the children of aging parents.
Estate planning takes a lot of time, but another factor that needs to not be overlooked is having a power of attorney.
Here is a list, in no particular order, of what needs to be done after someone passes to help you during this difficult time.
2500 S Power Road
Bldg 14 Suite 132
Mesa, AZ 85209
Copyright © LifePlan Legal AZ. All rights reserved. Some artwork provided under license agreement.
Privacy Policy | Disclaimer
