The idea of giving someone else control over your finances and medical decisions may not appeal to you. Giving up your personal sovereignty and entrusting your health and financial well-being to someone else requires a lot of faith in that person's decency. Concerns...
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Powers Of Attorney
What to look for in an agent for your financial power of attorney
You have a lot of decisions to make when creating a financial power of attorney, including who you’ll name as your agent. Your agent is the person who will step in and carry out your wishes in the event that you’re unable to do so. Since this is such a big...
The ‘hot powers’ of a financial power of attorney
A financial power of attorney is a crucial legal tool for anyone with even modest monetary considerations. With a financial power of attorney, you – the principal – name an agent to handle financial and business transactions on your behalf.It is a role...
When is password sharing a good thing? During estate planning.
Managing finances has become a predominantly digital endeavor. We access our bank accounts through apps, check retirement accounts online, handle bills through autopay systems, save important records on hard drives and use third-party programs to move funds...
Nearly 250,000 aging Coloradans lack crucial health instructions
One of the things we must consider as we age is our medical care preferences. Are there procedures or machines we are uncomfortable with? Are there specific treatments we prefer over others?It is possible for anyone to make their wishes known well ahead of time,...
How to defuse sibling conflict over an elderly parent’s care
Taking on the responsibility of caring for an aging parent is often a family undertaking. If you have any siblings, you may need to come together to do what’s best for mom or dad. Sometimes that’s much easier said than done.There are a number of smart...
Who makes medical decisions if there is no advance directive?
Health problems are not always predictable. Issues can crop up with little warning, impacting both the individual and their loved ones. Sometimes these ailments are quite serious and leave a person unable to communicate for themselves.In these situations, an advance...
I’ve been named a personal representative – what should I know?
Every estate needs a personal representative (also known as an executor). This personal representative might be named in someone’s last will and testament, potentially with a conversation beforehand. In other cases, a court might appoint a personal...
Addressing breach of fiduciary concerns
A professional may pad billing statements claiming extra hours managing a trust for a disabled client. A son or daughter might claim he or she was just borrowing from mom’s account to explain missing money. What can be done to identify these issues, stop the...
Burial preferences: How to communicate them
Have a family burial plot and casket burial become a thing of the past? Not yet, but more are looking for other options. For instance, 80 percent of boomers are opting for cremation. Many are leaving more preferences for their memorial service and final resting place...